In a rebuttal to Bill Gates, Larry Summers argues robots are wealth creators which should not be taxed accordingly. He’s right. But only if the driving motivation for robot innovation is enhanced productivity. Not if it’s a Silicon Valley god complex.
Small Kurdistan-related storm on Wednesday (aside from the headline news of the Isis overthrow of Mosul)… @NatRothschild1 not happy with @FTAlphaville for saying Mosul lies between Genel assets Bina Bawi and Ber Bahr. — Rob Davies (@ByRobDavies) June 11, 2014
Ah, technology. You’ve got to love it. Or hate it. Especially if you’re an auto dealer or a US refiner at the moment. Both currently find themselves in a similarly challenging period. Call it the curse of being a middleman in a world moving to direct everything. Over in the auto world, for example, a stealth revolution is currently being waged on car dealers by manufacturers. Thanks to the internet, there’s simply no reason why car manufacturers can’t deal directly with customers. Orders can be gathered online, and customers — rather than being targeted by pushy salesmen — can take full control of the decisions they make. Prices, extras and specs can be decided upon with the helpful advice of independent experts, fans, enthusiasts, and journalists on auto forums.