547 karma · joined August 29, 2016
See: http://freakonomics.com/podcast/uber-economists-dream/ or http://www.nber.org/papers/w22627.
> So we found that in 2015, if you extrapolate to the whole U.S., we found that the overall consumer surplus added up to almost $7 billion. So people spent about $4 billion on Ubers, but they actually would have been willing to spend about $11 billion. So for every dollar people spent on Uber, they got about $1.50 worth of extra joy that they would have been willing to pay on average above and beyond what they did pay. And to put it in a context just how big this consumer surplus is, the total amount of money that went to what Uber calls the driver partners, the people who are driving the cars, was something like $2.5 billion. So the consumers got more than twice the benefit of all the money that went to the drivers. And Uber itself only got to keep about $1 billion.
Of course, none of this makes Uber immune to criticism for the way they operate as a company. And there are sufficiently many alternatives that, even without Uber, society is likely to continue reaping benefits from ride-sharing as a technology.
It's strange to me that Friedman is viewed (at least by economists and "business" folk) as a paragon of logical reasoning and empiricism, all the while his views reek so strongly of ideology. There are tons of reasons why the quoted statement might be false whether you're a policy maker (negative externalities) or even the most cold-hearted capitalist (short-term incentives).
Perhaps relatedly, it's actually not true that corporate responsibility to profit is codified in the law. See e.g. https://en.wikipedia.org/wiki/Shlensky_v._Wrigley (discussed further in https://www.amazon.co.uk/Shareholder-Value-Myth-Shareholders...)
Separately, it seems far more significant that the early ARPANET was composed of networked computers based at universities.
This is probably a good thing for security. But for the use case of development against third party services, it seems like an unnecessary constraint.
What's perhaps striking is the low number of total calls regarding AHCA (439 support, 6 against) compared to the total population of her district (~700k). Unless I'm misinterpreting, this seems like pretty strong evidence that a call to your representative can have a massively disproportionate impact?
Source: https://www.amazon.com/Introduction-California-Natural-Histo... (kind of "dry", but extremely informative)
At the company I work at, various of the above projects are integral to one system or another (though to be fair, there are quite a number of ex-Twitter folks floating around). I'm not a Scala expert, but as far as I can tell Twitter also has a large footprint in that community.
Face recognition and speech recognition are the most obvious pieces that look to be proprietary, but there is lots of other useful open stuff that he explicitly links. FastText looks like it would be really helpful for at least the natural language piece of Jarvis-like applications.
[0] https://en.wikipedia.org/wiki/Variance#Sum_of_uncorrelated_v...