Issue 179: Time is a Funny Thing
Welcome to Backstory, a weekly newsletter turning global technology shifts into a three-minute read. This week, we’re thinking about Backstory. – Mary Ames, Director of Strategy
THE BIG TAKE
Time is a Funny Thing
This week marks the conclusion of my more than ten-year journey with Xische & Co., and with it, my tenure as the editor of Backstory comes to an end. As I prepare to step away, the concept of time has been a prevailing reflection—where has it all gone? It has certainly been well spent, encapsulated in 180 editions of Backstory. Throughout these editions, we've delved into a myriad of topics: the integration of technology in our lives, the evolution of government digital transformations, the advancements in blockchain and artificial intelligence, the global shifts prompted by the COVID-19 pandemic, the pursuit of sustainable technologies, and the dawn of a new era in space exploration, just to highlight a few. Time, in its various facets, has subtly threaded through our discussions—from the rapid speeds of today's AI processors to the efficiencies offered by new digital services, and even our quest to disconnect from digital realms.
Reflection and moving forward. In my role, I've penned numerous headlines that celebrated enhancements in quality of life, sustainability, and economic prosperity driven by these technological transformations. Yet, the narrative of a time deficit persists. Experts warn that we are quickly depleting the time available to mitigate human impacts on the environment and avert severe climate change consequences. We're pressed for time to establish sensible regulations safeguarding human creativity against the tide of generative computing. The mental health effects of perpetual digital connectivity on the emerging workforce demand urgent attention. And, in a broader cosmic sense, time itself appears in jeopardy—recent studies by physicists suggest a deceleration in the universe’s expansion, based on the latest precision measurements of its progression. As I transition away, Backstory will continue exploring these critical questions, ensuring that the conversation continues. Perhaps, after all, our time is more constrained than we previously imagined.
QUOTE OF THE WEEK
“Truth is not only stranger than fiction, it is more interesting.”
– William Randolph Hearst
CHART OF THE WEEK
This week, we are thinking about Google and advertising. Despite attempts to diversify, Google still makes most of its revenue through advertising.
SPOTTED ELSEWHERE
Brainpower. Recent research has illuminated a fascinating aspect of aging through the study of "super-agers," individuals aged 80 and above who exhibit the memory capabilities of someone decades younger. These exceptional seniors not only challenge our conventional views of cognitive decline but also highlight the importance of healthy living, as The New York Times explores. Studies show that these super-agers have well-preserved brain regions crucial for memory and cognition, and they often maintain strong social relationships and physical health. While the exact formula for becoming a super-ager remains elusive, the findings underscore the benefits of a balanced lifestyle, including physical activity and social engagement, in promoting healthy brain aging. This serves as [another] reminder that, in many cases, our later years can be enriched by maintaining healthy habits and robust social connections.
Is the Internet dying?Ed Zitron looks at Reddit's imminent IPO at a $6.5 billion valuation and argues that it reveals deep-seated issues in tech companies' business models and their interactions with user-generated content. Despite losing $90.8 million on $804 million of revenue in 2023 and never turning a profit, Reddit plans to go public, offering stock to select users in a gesture masked as empowerment. However, CEO Steve Huffman and investors like Sam Altman stand to make substantial profits, contradicting the community-driven ethos Reddit claims to champion. This, according to Zitron, exemplifies a broader trend in the digital economy: exploiting unpaid user contributions and moderators' efforts for corporate gain, while generative AI further compounds the exploitation by turning user interactions into training data for algorithms, diminishing the quality and authenticity of internet content. This transformation is pushing the internet toward a monopolistic model dominated by a few powerful platforms, eroding the diverse, user-driven ecosystem that once flourished.