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3 global market and industry failures that affect us all - voila! Marketing and digital


Apart from the turmoil surrounding the coup d'état in Israel, three mega-fundamental failures, all of which are the result of the current quarter, portend unprecedented global chaos, and this is only the beginning

Silicon Valley Bank (Photo: GettyImages, Justin Sullivan)

In 2005, on the podium of the graduation ceremony from Stanford University, Steve Jobs provided the world with one of the most recognizable quotes on connecting different dots in the timeline: "You ca

n't connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future."

Jobs spoke of inspiration for success, but today, more than ever, it is right to learn from his words also about geopolitical balances and transformations in the global economy, in the high-tech industry, in financial banking and of course also in social networks and the capital market and trade.

One influences the other, the second forces the third and as in the opening song of the movie and the musical "The Lion King", we are all part of the wheel of life, or at least trying to better understand where the world is going.

The full speech is here:

First failure - a cold war on TikTok

The viral video app TikTok, developed by Beijing-based Chinese company bytedance, is much more than a social network.

The technology developed by the company allows it to collect, record and classify information, run algorithms on it and derive insights from it that would not shame the Skynet system from the legendary Terminator film series starring Arnold Schwarzenegger.

It is built in such a smart way and at the same time so threatening for the following two reasons, the first, as a Chinese technology company, bytedance is committed to transparency and providing information to the Chinese government in general and government intelligence agencies in particular.

This means that the Chinese government has full access to all servers and the cloud including the classification and control libraries.

All of the activity and databases are based in China, but most of the users are generally in the US. With fragile trust relations and mutual accusations of espionage between the two superpowers, it is understandable why the US is concerned about the growing popularity of Tiktok.

In recent years, and in particular in the current quarter, the US is working hard to examine the possibilities of banning the use of Tiktok throughout the US.

Initially, it prohibited the application to government, military and security officials, and these days it holds professional committees to examine how the sanction can be imposed on the entire American public.

And where is the failure?

Remember Snapchat that died last year?

Well, the stock of the American company, which was founded in 2011 by three students from Stanford University (the same Stanford from Steve Jobs' speech), shows an interesting upward climb and this may be an indicator of the decline of one and the rise of the other.

Will influencers and video creators start investing their time on the yellow platform?

If they want to continue to go viral in the US, they probably won't have a choice.

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Second fallacy - high-tech crypto and banks

A basic rule of macroeconomics says that for one to succeed, another must crash.

Some people bought houses this week and some people lost them.

At the end of last year, many commentators shouted over every possible platform the word of no return, recession.

On the other hand, more skeptical commentators answered that for a recession, American banks need to fail, just as happened in 2008 during the subprime crisis.

And here, in the first quarter of 2023, American banks are indeed falling.

Silicon Valley Bank (SVB), which was known for its permissiveness towards the high-tech industry, is the first and even requested swallow, and it is certainly not the last.

Failing banks are real and tangible trouble for 99 percent of the market.

One sector that is currently jubilant are the crypto experts who have also been shouting above every possible platform that traditional banking and fiat currencies are unstable and that a decentralized solution is needed.

And here the prophecy comes true, at least partially, because crypto startups also pay salaries to employees and fees to suppliers in fiat currencies, and many of them maintained accounts with SVB.

As one of the CEOs from the field told me this week, as befits a crypto person, he preferred to remain anonymous: "For the market it's great, for me personally right now it's a little less good." The CEO was right, the value of

Bitcoin increased by 28% this week.

Experts from different schools of thought agree that this is a direct result of the collapse of SVB Bank and the loss of confidence in the stability of banks in the face of the recession.

Third failure - The Matrix

The summary of the plot of the wonderful Matrix trilogy of the brothers and Chaoskey, who after gender matching became sisters and Chaoskey is very simple, very grim.

Artificial intelligence produces machines, the machines need energy, the source of energy is work and life, work and life are provided by humans, so the machines and artificial intelligence darken the world, enslave humans, produce alternative entertainment in the form of visual simulation and harvest resources (energy) for their own use.

Now let's talk about the first quarter of 2023. Artificial intelligence engines and language models are here to stay and they keep coming out in new versions that just keep getting better and better (eg GPT 4 and Midjourney 5).

The current launches increased the anger and frustration in the communities of artists, writers, content creators and musicians, who claimed that the language models, image processing and machine learning are based on data from existing products, such as art, literature, and human creations, and therefore this is an idea theft and possibly even copyright infringement collective and continuous of the intellectual and productive property of those artisans.

In addition, the technological ability of the artificial intelligence engines, which has not stopped improving itself and enjoys almost infinite resources that only the high-tech industry can provide, produces a digital monster that is never satisfied with human data consumption, but at the same time makes redundant the work of those involved in the craft and even worse, your livelihood

It is difficult to produce art on an empty stomach.

A person needs to make a living and therefore in this quarter, collectives began to be formed that hire temporary workers for the purpose of data tagging work for the purpose of sorting, classifying, tagging, training and improving models of artificial intelligence systems.

Many of the working hands are artisans who need to make a living from manual labor which is not a binding and demanding career but at the same time feel comfortable in a computer and data and visual environment.

In doing so, they are actually training the technological machine at minimum wage which is able to make their work redundant in the coming years.

Or in one word - matrix.

In conclusion

The first quarter of 2023 is running on steroids and the prophecies keep coming true.

Most changes are not immediate, but when they happen it is almost certain.

If there are still glasssmiths or metalsmiths, most likely they are the offspring of generations of blacksmiths and metalsmiths, who passed this craft down from generation to generation.

The industry does not need a metalsmith to make a cast pot, pots are bought in a store or ordered from a Chinese factory online.

Failures are another story, they are immediate and they are autoimmune.

When it happens, it happens fast and it happens strongly, and usually it is a singular and individual event. The current quarter has played the cards in every way, and it is not over yet. What will the year 2023 look like? Maybe it is time to apply the advice of Steve Jobs and try to connect the The points

Rotem Mi-Tal is the CEO of Asgard Systems

  • Marketing and digital

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Source: walla

All news articles on 2023-03-23

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