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The narrative doesn’t end with diminished risk-taking. The sharing model on the Internet enhances the human experience in a spirit of equality and so we value transparency, trust, literacy and inclusion. Enterprises of risk are best supported in a culture of trust. An equal-valued exchange rests upon faith that the counterparty will fulfill their side of the bargain. Mistrust and fear might cloud even the initial bargaining process, so no transaction is made. Moreover, a forceful desire for privacy can perpetuate mistrust since it suggests fear of others mishandling one’s information as well as fear of people’s trivia invading one’s private mental space. How do we reconcile privacy with the sharing model? How do we guarantee and enforce property rights when personal data and cognitive bandwidth are private property? Individual liberty and free will are to be balanced against community and networks of trust when the goal is to move ahead with bold enterprises.
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Aguiar, L. and J. Waldfogel, 2018. Platforms, promotions, and product discovery: evidence from Spotify playlists. Cambridge: NBER Working Paper June 2018.
Akerlof, Robert. 2016. We Thinking and its Consequences. American Economic Review: Papers and Proceedings 2016, 106(5). CrossRef
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Thompson, Nicholas. 2019. 3/6/2019. Mark Zuckerberg on Facebook’s Future and What Scares Him Most. Wired Magazine Accessed 4/24/19 from https://www.wired.com/story/mark-zuckerberg-facebook-interview-privacy-pivot/
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