Peter Thiel (Facebook Board of Directors) – Big-Tech’s Failures and Self-Hatred (Jul 2020)


Chapters

00:00:10 COSM Technology Summit: Exploring the Interconnected World of Emerging Cutting-Edge Technology
00:03:33 Exploring Innovation, Creativity, and Artificial Intelligence
00:12:05 The Future of Technology: Centralization vs. Decentralization
00:25:16 Tech Stagnation and the Path Forward
00:29:13 Silicon Valley and the Need for Decentralization
00:39:24 Online Education: Learning vs. Prestige
00:42:57 Centralized Control of Money and Decentralized Cryptocurrencies
00:51:31 Technological Influence on Social Dynamics

Abstract

The COSM Technology Summit: A Reflection on the Future of Innovation, Society, and the Human Brain

In the inaugural COSM Technology Summit, a compelling narrative unfolded, led by the insightful contributions of thought leaders and the ambitious mission of the Discovery Institute. This article, crafted in the inverted pyramid style, delves into the key themes and perspectives shared at the summit, highlighting the intricate dance between technology, human creativity, societal challenges, and the potential future paths of innovation.

Welcome and Introduction

Steve Burei, president of the Discovery Institute, welcomed attendees to the inaugural COSM Technology Summit. COSM stands for “world,” and the summit explores the interconnected world of emerging cutting-edge technology. Burei encouraged attendees to be cosmonauts and explore not only the technology but also the deeper philosophical questions it raises.

Leading the Charge: The Discovery Institute’s Vision

Steve Burei, president of the Discovery Institute, opened the summit with a strong emphasis on the institute’s core values: fostering a culture of purpose, creativity, and innovation. The Institute, since its inception in 1991, has championed the belief in a purposeful universe, the power of human creativity in problem-solving, and the unleashing of creativity through limited government and free markets. This foundational perspective set the stage for the summit’s discussions, underscoring the role of innovation in shaping our future.

George Gilder: Challenging Conventional Wisdom

George Gilder, a co-founder of the Discovery Institute, presented a paradigm-shifting viewpoint, focusing on pursuing opportunities rather than solving problems. He drew inspiration from Peter Thiel’s “Zero to One,” advocating for the creation of breakthrough technologies. Gilder’s emphasis on information theory, referencing Claude Shannon’s concept of information as surprisal, highlighted the irreplaceable role of human creativity in the age of machines.

The Internet and Connectomes: A New Perspective

Gilder’s exploration of connectomes, the networks underpinning systems like the internet, offered a novel lens to view technological growth. The internet, having surpassed a zettabyte in connections, exemplifies the rapid expansion and complexity of digital networks, paralleling the intricate nature of the human brain.

The Human Brain vs. Technological Complexity

The summit also ventured into the complexity of the human brain, juxtaposing it against the global internet. The brain’s efficiency, operating on minimal power yet rivaling the vast data network of the internet, highlighted the limits of current technology and the remarkable capabilities of biological systems.

The Evolution of Hardware and the Microcosm Revolution

A significant topic at the summit was the convergence of technology and finance, forecasting the elimination of printed circuit boards and complex wiring. This imminent transformation anticipates the rise of microcosm chips, heralding a new wave of technological innovation.

Peter Thiel’s Contrarian Insights

Peter Thiel brought a contrarian perspective, focusing on the cyclic nature of technological advancement. He emphasized the potential shift from a centralized future back to decentralization, privacy, and individual empowerment. Thiel also critiqued the current state of Silicon Valley, highlighting a cultural shift towards pessimism and stagnation.

Education: A Multi-faceted Paradigm

The summit addressed the multifaceted nature of education, exploring its various interpretations – from learning to a zero-sum tournament. Thiel’s call for educational reform, particularly through initiatives like the Thiel Fellowship, underscored the need for alternative paths to success beyond traditional academia.

Online Education and Its Potential

The role of online education was acknowledged for its proficiency in providing learning opportunities. However, the challenge lies in disentangling the true value of education from its entrenched social and economic constructs. Thiel, in his unique perspective, highlighted the limitations of online education and questioned its true value. He compared elite universities to exclusive nightclubs, suggesting that their prestige is derived from exclusion rather than knowledge impartation. Thiel advocated for a shift away from the zero-sum tournament mentality in education and a focus on acquiring practical knowledge and critical thinking skills.

Cryptocurrencies: The Vision and Reality

PayPal’s initial vision, as shared at the summit, was to challenge government control over money and promote individual sovereignty. Bitcoin emerged as the embodiment of this vision, offering a decentralized, censorship-resistant currency. The comparison with e-Gold illustrated the unique strengths and challenges in creating a robust digital currency. Thiel believes Satoshi Nakamoto, the creator of Bitcoin, attended a financial cryptography conference in Anguilla in early 2000 and that Bitcoin is the realized form of the decentralized currency envisioned during PayPal’s early days. He also emphasized the importance of Satoshi’s anonymity, as revealing their identity could lead to government interference or attacks.

China’s Competitive Edge and Intellectual Property Concerns

The summit didn’t shy away from discussing the competitive threat posed by China’s rapid copying abilities, controlled by the Communist Party. The importance of protecting intellectual property was emphasized as crucial for maintaining the West’s technological edge. Chinese companies pose a competitive threat despite the Communist Party’s control, as they excel at copying and scaling successful innovations from the West. Centralized totalitarian communism may not foster creativity, but it can facilitate copying. China’s strength lies in its speed and efficiency in copying Western innovations. Innovation is the key to maintaining a competitive edge, and the West still leads in this area. Protection of intellectual property and preventing exfiltration of information are essential for preserving Western advantages.

Addressing Societal Issues: Beyond Technology

Finally, the summit explored the broader societal challenges, acknowledging that technology is not the sole driver of societal issues. Cultural malaise, stagnation, and a lack of progress were recognized as contributing factors. Solutions proposed included promoting economic growth and encouraging individuals to engage in meaningful activities beyond the digital field. Thiel attributes the current social problems to a broader sense of cultural malaise, stagnation, and a lack of progress in society. This leads individuals to retreat into activities like playing video games or staying in graduate school, contributing to the perceived decline in personal relationships and societal fabric. He proposes that the solution lies in restoring economic growth and progress. By revitalizing the economy, individuals will regain a sense of purpose and motivation, potentially alleviating the social and relationship issues that stem from cultural malaise.

Looking Ahead with Optimism and Caution

The COSM Technology Summit served as a melting pot of ideas, visions, and warnings. It highlighted the intricacies of the human brain, the transformative potential of technology, and the importance of preserving creativity and innovation in an increasingly complex world. While the challenges are many, the summit’s discussions fostered a sense of cautious optimism about the future, underlining the need for a balanced approach that values both human ingenuity and technological advancement.


Notes by: Rogue_Atom