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SUMMARY:The Digital Revolution and the State - William H. Janeway is a Sen
 ior Advisor and Managing Director of Warburg Pincus and a Member of the Bo
 ard of Managers of CERF.
DTSTART:20180222T130000Z
DTEND:20180222T140000Z
UID:TALK101182@talks.cam.ac.uk
CONTACT:CERF/CF Admin
DESCRIPTION:All of the technologies which combined to enable the Digital R
 evolution were sponsored by the American state: stored program digital com
 puters\, silicon processing\, software engineering and the internet. Deplo
 yment of the enabling infrastructure and exploration of its potential appl
 ications\, in turn\, were accelerated by the IT/Internet/Dotcom Bubble of 
 1998-2000.  Since then\, the Digital Revolution has taken on a life of its
  own.  No longer in need of state support\, the Digital Revolution now cha
 llenges the authority of the state along multiple dimensions. The IT-enabl
 ed globalization of markets and automation of work have overwhelmed the ca
 pacity of the state to buffer the consequent disruption of employment with
  destructive political consequences.  At the microeconomic level\, disrupt
 ive digital services like Uber and Airbnb attack existing modes of regulat
 ion in both the directly served markets and in the associated labor market
 s. Across industries\, the application of machine learning techniques to t
 he data generated and captured from interactions with customers has create
 d a new mode of monopolization\, additional to economies of scale and scop
 e and network externalities\, requiring new approaches to anti-trust regul
 ation. Finally\, at the most fundamental level of political economy\, digi
 tal social media is being mobilized to undermine the political processes o
 n which the legitimacy of the state depends.   \n\n 
LOCATION:Room W4.03 Cambridge Judge Business School
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