most of commerce in America isn't actually high intent. Like how many years are we into e-commerce now? Like 30 years into e-commerce and e-commerce has never exceeded 20% of retail spend in America.
Well, once wealth is a function of of commerce, industry, and trade, it isn't land anymore. And this upends the world. If you think about the world today, who's rich, who's poor, who's powerful, who's not, it's often the degree to which the country is industrialized.
And Russia's never had a commerce-driven economy. China much more so under Deng Xiaoping, but recently Xi Jinping has been privileging the crony sector over the private sector and neither one has stable government institutions.
As publishers see the danger from AI bots expand, they retreat to putting more and more content behind either password protection or payment walls or both, leaving the only publicly-accessible content to be AI-generated slop; open resources like research work, scientific analysis, and fair use of content all suffer as a result of people responding to the bad actors, since legitimate uses of open content are no longer possible.
If you look at the S&P 500 now and you look at the amount of value from companies created in that, one could argue that actually almost all of the exuberance and hype was totally warranted and it in fact did change commerce in fundamental ways.
Almost all discussions of it center on “data”, but it’s actually a fight about payments, and whether banks have a right to monopolize and charge for all economic activity their users engage in, irrespective of whether the bank operates the payment method.
No Prime Minister wants to do what we have to do in relation to the winter fuel allowance, but we have to take the tough decision to stabilise our economy to ensure that we can grow it for the future.
Their words now
However, I recognise that people are still feeling the pressure of the cost of living crisis, including pensioners, and as the economy improves, we want to make sure that people feel those improvements each day as their lives go forward. That is why we want to ensure that more pensioners are eligible for winter fuel payments as we go forward.
You already bought that phone, why should Apple be adding a 30% junk fee to all commerce you do, and why do they selectively apply it to some things and not others? I've always viewed this as deeply abusive and that it shuts down the competitive engine that once fueled the app and software economy.
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