most of which will be offered for free
The Barbell Effect of Machine Learning
Nick Beim
923

Rather than “most of which will be offered for free”, it would be more accurate to say that we are actually in an “information economy”, that is to say one where information is itself, rather than script or specie, the medium of exchange. These services are paid for with information. It is information that the large monopolistic players are rich in.

Information is not the same thing as either capital or the fruits of labor in the traditional money-based economy, nor is it a “natural” resource. It partakes of aspects of all three, but is probably best understood when though of as currency or wealth, as the medium of exchange driving the information economy.

By treating services that are purchased using the currency of information, as “free”, the workings of the economy and the methods of obtaining and growing wealth are obscured.

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