jeremy rifkin annual latest book you predict that the third Industrial Revolution creating the collaborative Commons as a replacement for capitalism by say 2050 can you just explain what the collaborative Commons is well let me say that what I what we’re beginning a glimpse and it’s just the bare outline at capitalism is giving birth to a new economic system its progeny and this is the sharing economy on the collaborative Commons and this is the first new economic system to emergence capitalism and socialism in the early 19th century so it’s a it’s a pretty remarkable event even though young its flourishing the sharing economy and collaborative Commons is flourishing alongside the exchange economy in the capitalist market by 2050 capitalism isn’t going to disappear but it’s going to be totally transformed by having to nurture the child it gave birth to now it’s going to have to learn to live with a child in two systems that complement each other part capitalist market part collaborative Commons the bottom line is the sharing economy the collaborative Commons is made possible by a great economic transformation and technological transformation something called zero marginal cost which people shouldn’t be afraid of it’s not too difficult marginal cost and economics is the cost of producing an additional unit of a good or service after you pay your fixed costs what we’re beginning to see is a paradox deeply embedded in the heart of campus theory that none of us ever saw Adam Smith to insert it see it early on or Karl Marx or Lord Keynes or john kenneth galbraith for that matter none of us saw it but this paradox it’s kind of interesting has what’s led to the great triumph of the invisible hand of the market here’s the paradox the invisible hand is about to achieve its ultimate triumph that triumph gives birth to a progeny a sharing economy and the collaborative Commons and now capitalism is going to have to learn to live with its progeny but capitalism has a record in the pot you can go back to ancient Greek time certainly to Roman types capitalism always seems to come out on top and the thinking of the Chicago is called the economist Milton Friedman and his and his students they still believe that capitalism is the way the free market is the way to run the world and they will find a way to extract a profit from it one thing well I think they will but the question is to what standing maybe we can come back to that in a few minutes after we lay out the vision then I think it will become a little bit more clear when roll their play capitalism will be able to profit by helping to build grow and nurture these collaborative Commons but it’s not going to be the primary arbitrary of economic life by mid-century it’s going to have to share the stage with its progeny for sure here’s the paradox in classical economic theory we always encourage entrepreneurs to find new technologies that will increase their productivity reduce their marginal cost so then put out cheaper goods and services and went over consumers and market share and bring some nice profits back to the investors so we always encourage new productivity reduction of marginal cost and the optimum market and classical economic theory is where you sell at the marginal cost here’s the rub none of us ever expected ever and our wildest imagination a technology revolution so extreme in its productivity that it could actually reduce marginal costs for some not all but some goods and services to near zero making them essentially free and abundant and beyond the market that’s beginning to happen on a massive scale but let me provide context so people understand this and it makes common sense all the great economic revolutions in history the great economic paradigm shifts share a common denominator and there have not been that many great economic paradigm shifts throughout history we had 400 societies early agricultural pastoral societies hydraulic civilizations predatory empires feudal societies early market economies industrial capitalism what’s the common denominator to all of these paradigms at one moment in time three technology revolutions converge and create a new general-purpose technology platform a new infrastructure for organizing economic life new forms of communication to more efficiently manage economic activity new forms of energy and more efficiently power economic activity new forms of transportation to more efficiently move economic activity common sense anthropologically but never discussed by economists when they come together communication energy transport they actually changed the way we organize economical I may give you two quick examples first Industrial Revolution 19th century second does to revolution 20th century in the 19th century steam power printing emerged the fixed cost high marginal cost low and the Telegraph these communication technologies converge with cheap coal powered by steam engines and locomotives on national rail systems and we went to industrial capitalism changed history it actually created a new form of governments called the national government to govern these territories that was so expansive in the 20th century we had another convergence of

communication energy and transport second us to revolution centralized electricity and particularly the telephone later radio and television converged with cheap oil powered by internal combustion engines and we moved to transport system cars buses and trucks National Road systems that second duster revolution took us well through the 20th century and it Pete it peaked in july two thousand eight i don’t know if you remember that month but oil he had one hundred forty seven dollars a barrel that month on world markets purchasing power shut down all over the world everything is pegged to fossil fuels everything construction materials plastics fertilizers pesticides pharmaceuticals power transport heat and light so what’s happening now is we are in an endgame for the Second Industrial Revolution and the government’s that I advise and the heads of state that I work with they’re all lamenting they say well the economy slowing gdp slowing productivity slowing unemployment rising and they say what do we do and I said look you have to understand we are now in an endgame for an entire technology platform of the 20th century the fossil fuel energy is a nuclear power too expensive and now they’re creating fossil fuels are giving us real time climate change impacting the economy and a dramatic level the technology is based on those energies like internal combustion engines and centralized electricity have exhausted their s-curve we can’t get any productivity out of them and the infrastructure itself is old and now is being patched up so there is no way any country in the world any country in the world can actually move out of the door and create economic growth as long as we’re stuck in that 20th century platform the problem though with energy is that there is still no international grid in Europe there is no smart grid there is no way of if you like evening out the irregularities that come from the Renewable Fuels like like wind and tidal power and so on because without there’s no wind or the Tide’s running low you don’t get the energy you need a grid but there’s national resistance to that how do you overcome that well we’re doing there now let me outline this third Industrial Revolution for you now this is the formal plan of the EU I was privileged to develop this for and with the over 13 years it was endorsed by the parliament in 2007 the European Commission in 2007 it’s our 2020 2030 and 2050 plans so it’s our plan Germany’s leading it I’ve been advising the Chancellor since she came into office they are ahead of the game Denmark is too in a few other countries but here’s where we stand and I want to get directly to your question of intermittent energy as they lay out this scheme we are beginning to move into a third Industrial Revolution this is this is hopeful the communication internet which we all use is morphing it’s converging with a distributed renewable energy internet on a distributed smart grid and that in turn is converging with a digitalized automated gps-guided transport logistics internet to create three internets and a super Internet of Things one system and these three internets is super Internet of Things and laying out sensors all across the value chain billions of sensors connecting agricultural fields and factories retail stores smart homes vehicles etc and they’re sending tremendous amounts of big data back to this emerging Internet of Things communication energy and transport internet and what this allows us by the way by 2030 100 trillion sensors connecting every device in every human being now what’s exciting about is the human race can now become a single human family and begin to engage in commerce and trade on an even playing field the terrifying part of it is we’re now having a deal in Brussels with privacy issues data security network neutrality cyber terrorism who’s going to control the grid it’s a huge array of challenges that go with this exciting transition but let’s assume we can deal with these challenges for a moment what this allows us everyone that’s listening to this interview if you’re connected to the internet which is three billion people now pretty soon the whole human race any of us can go up on this internet of things as its emerging right now and we can begin to mine a sheet of the economic value chain that we’re concerned with the sheath could be our own neighborhood or the value chain could be our own business of industry or for a government its own jurisdiction and we can take that chief of the value chain and watch all that big data in real time coming through the three Internet’s and we can use our own apps our own analytics create on all algorithms and dramatically increase our productivity reduce marginal cost and began to produce our own goods and services many of them at near zero marginal cost sharing amount of collaborative Commons that’s actually beginning to happen in a massive way now but there is this as you mentioned the privacy issue in to do you’re here to address the world democracy forum and this is mainly about getting young people engaged in politics young people of course are far more Sally with the internet and with using the new

electronic media but they’re also very vulnerable on it we hear of people being targeted we hear of grooming we hear of radicalization for instance of young people persuading them into crime and indeed pornography online pornography there are all sorts of things you see you say policing yes but who does the policing and how of what sanctions does they do you apply it where I work with the European Union I was just in Brussels going back there again this week with a new leadership and I was asked a month ago in Brussels to lay out this digital Europe plan with the EU at our digital action day and we’re really taking strikes on the privacy issue data security network neutrality every day in the paper you read about a new challenge going on from the Commission so that’s happening but let me concentrate on the Democratic side because we’re talking about youth around the world who are the internet generation they are the digital generation how do they began to come into their own and create a more democratic sustainable ecological society could live in and let’s let’s assume we can address all these challenges but what is the upside here we always go to the downside and not yet get to the upside we now have hundreds and millions of young people and at any given time anyone on the internet which is 3 billion people have become prosumers at any given time they’ve left the old category seller buyer owner and worker they democratize economic life we have hundreds of millions of young people who are producing and sharing their own music at near zero marginal cost on a sherry economy in the commons on the web bypassing the music industry they’re producing and sharing their own YouTube videos near zero marginal cost on the sharing economy of the commons bypassing television they’re producing and sharing their own news blogs social media bypassing newspapers and magazines zero marginal cost on the Commons even their own free ebooks bypassing the publishing industry and now massive open online college courses so here’s something that’s extraordinary here’s a form on the democratization of life and a young generations already doesn’t done it in the sense of in entertainment news knowledge and media they millions and hundreds of millions of them have began to democratize these great industries and some of the biggest vertically integrated industries of the twentieth centuries have gone down in 14 years the music business newspapers magazines book publishing television shrunk this is a great leap forward and democratization but but the other industries thought they were safe if that okay the virtual world zero marginal cost where you can put anything on the internet and whether you send it to one person a billion people it’s the same cost near zero but this can’t possibly go over the virtual wall to the physical world because that’s where the real economy is well it’s now breached that firewall it’s moved to the physical world that’s what I’m saying in the new book the zero marginal call society the Internet of Things allows the communication internet to converge with an energy internet and a transport logistics internet and this gives you original question so hundreds of millions of us can produce our own green electricity at near zero marginal cost store it share it and send it across the smart grid and hundreds of millions of us can produce and share our own transport car sharing services on GPS guidance it soon driverless at near zero marginal cost that’s beginning to happen now to get to your first question on the energy grid here’s the issue Germany is the best test case of what the what the opportunities and challenges are when the Chancellor first came in she asked me to come to Berlin in the first couple of weeks that her government to help her address the question of how to grow the German economy I said look you’re not going to do it as long as you’re in a 20th century energy transport and communication grid I laid out what I’m about to lay out with you first night she said I want this for Germany she’s done it here we are seven years later i should say all three political parties in germany have done it at christian democrats the socialist agrees in germany were twenty-seven percent green electricity right now today we’re heading a 35-percent green electricity by 2020 and what’s interesting is the fixed cost of solar and wind panels I’m sorry the fixed cost of solar panels and wind turbines it’s plummeting on an exponential curve just like computer chips a solar wat needs to cause $68 to produce in the 70s it’s sixty-six cents today it’s going toward zero but even before you pay those fixed costs that right after you pay the fixed cost of that solar panel wind turbine in Germany guess what that energy is free the Sun doesn’t send a bill over Germany just keep that a little solar panel clean the wind doesn’t send a bill over Germany just keep the wind turned and clean the geothermal heat coming up to the ground no bill free just keep the geothermal heat pump clean so Germany is making this great transition to nearly zero marginal cost non-polluting free energy now there are problems because the energy Internet requires five pillars tiller one put in the feed-in tariff

encourage early adopters Germany did millions of people producing energy tiller to convert all your buildings homes offices and factories to micro power plants insulate them get them efficient tournament of powerpoints Germany did it killer three storage they didn’t do it quick enough that’s the third pillar these are intermittent energies you have to store them because the Sun isn’t always shining the wind blows at the wrong time now in the next six months they will put in storage I’m in direct conversations difficult or some conversation with Sigmar Gabriel the Vice Chancellor no no it isnt its scale up they didn’t scale it you have to incentivize it for early adoption there’s hydrogen storage and flywheels batteries capacitors water pumping all that storage is there within the next six months Germany is moving on pillar three killer for Germany didn’t put in the smart meters to digitalize the energy internet so you could deal with peak and base loads they’re now doing it killer five they did pretty well on transport and logistics so in the next six months Germany will get over the hoop the wholesale prices have plummeted the retail prices are up because they’re passing the feed-in tariff to the consumers it’s a hump for a year so then they’re going to have free energy across Germany had a few years what country is going to compete with free energy across your entire value chain so it’s happening in the most of us think about Germany’s who’s producing these electricity it brings a smile to me EMB w/e on vattenfall and rwe is giant huge vertically integrated power companies that we thought were invincible seven years ago what happened to the music industry newspapers magazines book publishing television happened to them it’s millions of small players in our producing electricity in their electricity coops getting low interest loans and these four companies are producing less than seven percent of the energy they’re not in the game even the so the cost of actually having solar panels put on your roof or a wind turbine putting a garden are still very very high and as far as smart meters are concerned the Commission’s own research now look for a cost-benefit analysis for countries including Belgium after all where the headquarters of the Commission is they got a negative result and so they are not rolling out smart meters there well that’s absurd I don’t know where those figures came from but in the United States already we have 40 50 million meters over here in my house they were easily done I don’t know where that stat came from I have an advanced meter my power company brought it to me two years ago installed it we have tens of millions of them and in China which is quite interesting and this was a surprise to me when my last book came out there the third Industrial Revolution it was endorsed by a gentleman named wang yong who is now the vice premier 10-person central committee in charge in the economy and then it was read by premier li the new premier who said he’s instructed the government to out this third Industrial Revolution plan that we developed for Europe and I was there last September’s I was again that there two weeks ago and met with the vice premier and that with the government agencies and here’s what they’ve done in China if this can’t be done was then both Germany and China must be in la-la land china just announced the first time i was there 11 weeks after i came last year the chairman of the National Grid announced an 82 billion dollar for years startup commitment to lay out an energy internet starting this year across all of China so millions and millions of Chinese people can produce their own solar and wind electricity store it send it back to the grip so if Germany and China is there some some disconnect between the fats that you’re hearing in Brussels yeah but that it was at Commission’s own research people who came up with a figure they got for coming 24 and a 27-20 out I know what they’re not any commercially viable they were not cost effective they were late autumn put in lip sir there are hundreds and millions and meters already in Italy their advanced meters across the entire country on the grid right now millions of them yep some countries have gone out of it it’s happening in Britain but the problem is all the standards in each of the EU countries a slightly there’s a different thing that’s not China can do it across the whole country the EU come that’s true and what we have to do now with the new leadership at the Commission one and that’s a good point we have to begin to create codes regulation standards for interoperability across the EU so we create an integrated technological platform for an integrated single market that’s going to be the job of the new European Commission for sure and that has to be our next step in this journey but we shouldn’t confuse that with the advanced meters themselves in the digitalization that process is well underway in many countries it’s cost effective because the digitalization we do optimize your efficiency and reduces your costs and moving energy that has been resistant so hasn’t the Australia for instance a lot of resistance in Australia and in some parts of the United States I would say the outliers here in the United States Canada and Australia and it’s really unfortunate i’m particularly sad about the united states because we were the first country to move the communication internet Silicon Valley we did it then we stopped cold and we went to

shale gas in the US and tar sands in Canada Australia state and coal but when we stopped cold we lost the opportunity of converging a communication internet with a distributed renewable energy internet and a transport internet based on those energies that’s automated and guide in GPS guided so if we stay in the old energies in that old platform it’s it’s likely the US Canada Australia will be second or third-tier countries in 30 years from now I think California is totally with us and they’re they’re a huge juggernaut but if California can’t move the rest of the country in time and we stay another 10 years which is only a decade into the locked into the old energies we will have created a new generation of natural gas-fired power plants that amortized over 30 years so that will really that’ll really be a real game-changer I’m always hopeful because America can move quick once it gets the narrative but we’re not there right now the you reckons it by 2020 seventy-two percent of the all of the countries will have smart meters for electricity but only forty-five percent for gas it’s it’s not coming on to gal gas needs to move more look gas is not the transit guess is not the future let me understand this understand natural gas emits co2 just like coal and just like oil it’s cleaner but it’s a co2 emitter and the United Nations dis issued its final synthesis report its fifth report yesterday and the UN climate panel is saying we’ve got to get off all carbon fuels all of it we are now racing against a dime line that looks like it’s been passed and if we don’t move the entire global economy off fossil fuels in the next half century we have potential catastrophic changes which could imperil our ability to survive on this planet so while there’s discussion about natural gas this is a very weak discussion we’ve got to transform the whole economy I wrote the zero marginal cost society because that is the plan here allows us a business plan to dramatically increase our aggregate energy efficiency and productivity put lots of people back to work and lots of businesses to lay out the infrastructure and at the same time it heads us to a near zero marginal cost society which reduces our ecological footprint to the extreme let me let me give you a case in point let’s let’s take a 3d printing this is the new manufacturing part of the democratization of the economy 3d printing we’ve got several million young people now that are 3d printing their own products it’s info factually not men you factually and these young kids are using open-source software no one no intellectual property protection they’re all sharing the software so it’s near zero marginal cost for that then for the filament to create these new generation of manufactured products they’re using garbage recycle plastic recycle metal recycle paper around the neighborhood so it’s near zero marginal cost and some redistributed and they melt down this garbage these recycled materials they build up a product and now they’re starting to power their factories with their own solar panels off grid near zero marginal cost energy and some of the fabrication labs in Europe are using electric vehicles to get their little 3d printed products either to the market or the commons and they’re running on renewable energy near zero marginal cost and now the first 3d printed vehicle is emerged it’s called a strata it’s commercially produced this year it’s an Italian car be using they can use redistributed materials and finally in 10 years from now those vehicles that we use an RG logisitics internet to get those products to the market or the commons they’re going to be driverless within 10 years driverless so how do you begin to compete with that we’re talking about democratizing manufacturing within 10 years from now every school in the in the world is going to have a little kids gonna have a little 3d printers along with their little iPhones within 10 years and you’re going to have a whole generation beginning to produce their own physical we’re just like the millennial parents produce their own virtual we’re at near zero marginal cost and they’re going to be sharing lots of it out of Commons for free with each other you say that’s going to happen across the whole world but we’ve had three billion people connected to the internet now that’s only half the human race yeah there are an awful lot of play that are very remote where transportation is is bad because roads don’t exist now there are a lot of very very poor people and also there are things like agriculture for instance how do you brick get zero costs into agriculture things like raw materials a lot of the Morris companies in the amount of time the United Nations has endorsed the plan that I’ve laid out i work with kondalian kelo when he was chairman of you need oh united nations industrial development ization he’s now the head of that UN energy directly under Ban ki-moon why the UN endorse the plan we think that this plan can move quicker in the developing world for interesting reasons because the

liability there is the asset the liability is there’s no infrastructure as you say we’ve got twenty percent of the human race it has no electricity and another twenty percent is only a minimum access that’s also an opportunity because we know that it’s easier to build from scratch a virgin infrastructure across the region than it is to transform an old one to a new one it’s like an old home he renovated old home and can take years and years and you spend a fortune it’s easy to build a new one from scratch in rural India now and in sub-sahara Africa we have thousands of little startup companies in the last 24 months most of them social entrepreneurial enterprises and they’re going into villages in wiring up the whole village with electricity for two thousand dollars two thousand dollars there they’re putting in solar panels little smartphones so you can power your pet smart phone with your panel wiring up the village putting in a battery in the storage $2,000 village it’s starting all over rural India now in sub-sahara Africa you’re going to see microgrids coming together distributed microgrids within the next 20 years very quickly in the developing world now materials you mentioned raw materials to get an understanding of where we’re shifting from rarest and raw materials to redistributed materials look at the automobile the automobile is the primary monster that has Gulf tup so much of the earth resources rubber cement glass all the materials that go into the automobile there’s a billion automobiles and buses and trucks on the road they have taken a huge amount of the virgin materials in this planet now what’s interesting is the young people seem to don’t don’t want to own autumn feels any more it’s quite a change automobile ownership is grandma and grandpa the whole millennial generation I see you’re smiling the whole millennial generation they want access to mobility not car ownership they’re all car sharing they’re moving from ownership to access it’s not cool to own an automobile it isn’t even in their vocabulary isn’t that because we got overcrowded cities though an overcrowded city roads and very high prices for guaranty that is one of the reasons so we have millions of young people though our car sharing because the Internet of Things makes it so convenient and cool they go up on the little cells smart phone connect to a website at near zero marginal cost immediately connects them to the GPS logistics website within 90 seconds someone who owns a car connects with you have a car you go to their destination and you don’t even pull out your wallet it’s all automatically paid this is the Internet of Things it’s convenient it’s quick and in dense urban areas it works well for every car that’s shared 15 cars are eliminated from production now let’s go right to your issue of materials you remember Larry burns he was the executive vice president general motors until about five years ago biggest car company the world so Larry’s over at the University of Michigan he did a study of Ann Arbor middle sized city he said we can eliminate eighty percent of the vehicles even in this not too dense urban area and still have the same mobility cheaper with car sharing now let’s extrapolate Larry burn study there’s a billion cars buses and trucks on this planet gulping up the material resources not to include in the energy resources his study suggests that in dense urban areas we’re going to eliminate eighty percent of those vehicles in the next generation because i guarantee you we’re moving from ownership to access in the next generation within 25 years from now car sharing will be the norm car ownership will be an anomaly we’re going to eliminate eighty percent of those vehicles the other twenty percent of the vehicles in the world are going to be car shared they’re going to be electric and fuel cell they’re going to be operating on near zero marginal cost renewable energy they’re going to be 3d printed with redistributed materials and they’re going to be driverless in 10 or 15 years on a logistics internet this takes our ecological footprint footprint down dramatically all the materials of the world were using redistributed materials nearly free energy that’s nonpolar loading that’s renewable so these are big shifts forward and I absolutely agreed that there are lots of obstacles in the way when you read my book you start to see all the challenges in there and at the end of the book you say wow there’s going to be an uphill struggle but keep focused on the hopeful part we are beginning to democratize economic life we I mean the younger generation the millennial generation they’re already beginning to democratize large parts of their lives even though it hasn’t been given a narrative the refrain what about agriculture they’re in some of the poorer countries rely on agriculture they’ve rely on raw materials that are processed elsewhere they’re exporting minerals or something of that nature there have you there things that you can’t transport by internet and deep even transporting water and power is are quite expensive how do you overcome an obstacle like that that would have seemed to be a game breaker it is it is a big challenge in what I say in the book is that agriculture is the wild card and really the elephant in the room here is climate change let me deal with agriculture and then climate change the we have an agricultural system that is so dysfunctional and inefficient that if an

engineer we’re willing to take a look at it see my god how could human beings created something like this first let’s look at the land we have less and less arable land available for agriculture and the ant land we’re using and this will surprise people forty percent of all that agricultural land that we’re still using is feed grain for animals forty percent not food grain for humans because it allows the rich to live high up on the food chain with a lot of meat diets fed by grain and this is the most inefficient economic system we’ve ever devised it makes automobiles look particularly good because to get a pound of beef onto a cow you know how much grain you have to feed that cow the inefficiency is enormous and according to the United Nations as the wealthier move up the food chain we’re going to have sixty percent of the agricultural land and feed grain rather than food grain in 20 years from now forty percent left for everyone else for feed grain brains the prices up because the rich do not want to move down to a more vegetarian diet to save their fellow human being a planet we live secondly our agricultural land is all based on chemical farming chemical farming because the big chemical companies made a huge amount of money in the 20th century on moving those chemicals in the agricultural lands our fertilizers and pesticides are made out of fossil fuels when that price goes up the price for fertilizers and pesticides goes up even for the poorest families that are farming third we use a lot of equipment mechanical equipment on the farm and there it’s all being managed by fossil fuel energy fourth we send our products sometimes to market 10,000 miles away so we make a grape in Chile and then we send it all the way to the United States to eat think of the cost of the shipment the packaging the refrigeration that goes into this its enormous and I I think most people will be surprised to know that while buildings use the most energy and the biggest contributor to global warming number two is beef production and consumption in animal husbandry agriculture number three is transport nobody seems to want to talk about number two even Al Gore won’t talk about it and i would highly respect his work because we’re all afraid that people won’t want to change their diet or will want to be inconvenience that’s the inconvenient truth finally we need to have moved to a new type of Agriculture ecological based agriculture and we now have enough knowledge in in the most sophisticated biological fields especially ecology we can learn how to begin to place our crops in to land in ways that integrate them with the surrounding flora and fauna without having use pesticides and fertilizers this is happening all over the world the only reason it isn’t happening faster it takes seven years to detoxify the farm to get all the chemicals out before you can be certified we need governments to incentivize that seven year process of letting the ground fellow then you can get premium for sending your crops to market so I’ve outlined what I think is a system that’s making sense it’s starting to emerge and it can begin to address this issue however climate change can change the whole equation and what I think people do not understand is why climate change is so terrifying it’s never explained everyone thinks is it getting high as a getting colder that’s not the point climate change changes the water cycles across the planet that’s what’s so terrifying about what’s happening we’re the watery planning we go to other planets no water not interested our ecosystems have developed over millions of years based on the water regimes the cycle the earth the cloud systems for every 1 degree the temperature goes up on this earth from industrial activity and co2 emissions methane nitrous oxide every 1 degree the temperature goes up that atmosphere is sucking up seven percent more precipitation from the ground the heat is forcing that concentrated precipitation up to the atmosphere the result the whole water cycle gear is dramatically changing more violent winters snows more dramatic spring floods more prolonged summer droughts more category three four and five hurricanes our ecosystems can’t catch up to this complete shift in the water cycle and so our scientists tell us we’re now in the sixth extinction event but there are still politicians around um political parties who play down the risk of climate changes say that it’s a it’s all a sauna teacup it’s all people worrying about nothing they have vested interest perhaps in big oil and handing coal but they are playing it down because they don’t see it they say they don’t see it happening and yet they are gaining votes how do you overcome that I think a younger generation I think it’s a generational shift to some extent I think the energy companies in the united states have done a very good job and pouring television commercials on there were energy in the cabin don’t worry about climate change the idea that there could be a conspiracy on this

scale that thousands and thousands of scientists from every national academy signs across every discipline over 30 years could all be in some giant conspiracy and no and no one’s ever told about the conspiracy this is absurd it’s denial on a massive scale it frustrates me about my fellow human beings that we could be so unable to grasp the enormity of this moment take a look around look at what’s happening to the water cycle this the extreme snows and the floods and the droughts and the typhoons and hurricanes and tsunamis it’s every where it’s building up year by year I don’t worry too much about the energy companies because we now have an economic plan and all the other industries are getting on board to shift to a third Industrial Revolution is going to move the economy it’s always about infrastructure you create new economic paradigms you got to lay down the infrastructure so as we shift into this third Industrial Revolution we’re going to be able to move the economies put millions of people back to work create new business opportunities because we have to transform every country’s energy grid from fossil fuel and nuclear to renewables that’s a huge job then we have to take the whole electricity grid of every country and move it from several mechanical too smart so that we can have a digitalized energy internet then we have to move the whole transport system from these old internal combustion engines to fuel cell electric cars and put in gps and driverless guidance when you look at the infrastructure shifts they will keep two generations engaged in employment and create business opportunities the end result is a near zero marginal cost asiah t then this gets to climate change the only metric that I know of to address climate change is a third Industrial Revolution Internet of Things infrastructure y zero marginal cost is the ultimate metric for reducing our ecological footprint it means that we minute we so optimize our aggregate energy efficiency that we actually minimize the use of the Earth’s materials in making things that’s how we can make them for nearly free we’re minimizing the use of the Earth’s materials zero marginal cost then if what we do produce at zero marginal cost our cars our homes our clothes our tools our toys are shared on the sharing economy on the Commons so we redistribute them over and over again we’re using less of the Earth’s materials if we move to a digitalized energy internet we’re off carbon-based fuels in a generation and this is nearly free energy and if we move to a transport logistics internet that allows us to eliminate eighty percent of the vehicles on earth and the other twenty percent can be shared and renewable made out of distributed materials we’re there if there’s a plan B to what I’ve outlined in the zero marginal cost society I’ve asked heads of state I work with tell me what your plan B is stay in the 20th century which is taking mr. climate change and to massive unemployment and to economic dysfunctionality I don’t see there’s an alternative to it having said that the internet and Internet connections the whole economic exchange of stocks and shares and derivatives and so on was one of the things that led us towards 2008 and the great economic collapse dealing in things like collateralized debt obligations the Chicago Stock Exchange that where people hold stocks from microseconds along the way now we have a society where austerity is being imposed across an awful lot of countries to try to restore the problems in the economy and you’ve got some people like that the top 10% oh and sixty percent of the wages the top 1% earned twenty percent of the wages and it gets tighter half of that is that the top point one percent at the same time you’ve got people on zero-hours contracts people on extremely low wages having part-time and unsatisfactory job even people with with good degrees stacking shelves and supermarkets something’s wrong there what’s wrong and I spent the first three chapters in the new book on this you know my publishers say who likes history well those first three chapters are crucial I talk about the history of industrial capitalism how did we get to the one percent of ninety-nine percent I know that Thomas Piketty says it’s about business people converting with politicians to successfully pass tax laws that benefit they and their children true but to miss the larger point and the larger point is you have to always look at the technology platforms that a society puts down those platforms distribute whether the money goes upstairs or laterally scale to everyone else so in the first Industrial Revolution when we lay down national Telegraph systems and railroad systems across countries for communication energy and transport and cold systems had to be distributed these required massive amounts of capital for the first time in history so we created a new institution called the modern stock holding corporation that’s removed the New York Stock Exchange capitalizing railroads telegraph systems and getting the cold to market and in order to pay back the financing for laying out these systems that stock holding corporation was the best model but then we had to create these giant vertically

integrated enterprises that could put everything under one roof from supplied to demand because those enterprises were the most efficient ways of creating economies of scale reduce the marginal cost put out cheaper products and then be able to provide that return to the investors so that’s how it all worked now today at the end of the second dusty revolution we have about 500 vertically integrated corporations that control a lot of the revenue in the world now it is true that some of the great largesse of the first and second dusty Revolution was distributed why because people created trade unions and made sure that they got compensated for their their production and so it is true that all of us inside the industrial cocoon are far better off than our ancestors 300 years ago but it’s also true that in these giant vertically integrated enterprises stretching alongside this communication energy transport grids we created that more power went to the top of the pyramid to those in charge of the businesses and their shareholders all right but it is also true that a lot of it went laterally but not as much so I think not to understand now that that we have a situation where 500 or so fortune 500 companies basically four or five companies in each industry control those industries that’s the reality however that is not that is not history that’s a moment of time this Internet of Things platform for a third Industrial Revolution it latter Eliza’s economic activity the actual technology itself is designed to be collaborative distributed open transparent and it favors lateral economies of scale men’s and small people come together again let’s go back to Germany millions of small players came together in electricity cooperatives with low interest loans from banks and put the panels on their roofs the solar panels in winter no big deal no government help the loans were paid back and they’re producing the power and it’s literally power to the people in Germany now so you know big power companies are probably the main saying the mainframe if you will of the mail distribution of wealth now we have millions of people around the world producing their own green electricity of near zero marginal cost in 10 years from now ten zamil as of people 20 years from now most of the human race will be producing their own green electricity near zero marginal cost sharing it on a distributed energy internet and that is the actual shift to power to the people in a more democratic economy that course is irreversible unless we have some catastrophic shift in nature we can’t deal with because the technology’s there the meantime though we still have a lot of people living perhaps and apartments in high-rise apartments somewhere in our big cities scraping by having great difficulty and even paying the rent because they’re on such low wages they’re on these crazy zero-hours contract where they can’t work for anyone else but there’s no guarantee they’ll get paid at all in one particular week that’s true and I in the zero margin across society I spent a lot of time unemployment now you know I wrote a book called the end of work it was a kind of a seminal book back in 95 1995 and I said we’re heading to a more automated capitalist market now we know 20 years later that was pretty much in the cards that’s what’s happening we are we have automated factory work factory work is going to be almost totally gone in 20 years now we have automated factories right now workers trained up for white-collar jobs now we’re automating the white-collar jobs finance insurance retails going virtual etc then we said train up for knowledge jobs and now the knowledge jobs are automating with artificial intelligence analytics we don’t need all the lawyers and accountants and radiologists so what’s left when I say in the book is in the short to mid-term there’s a reprieve one silver lining for two generations we have one last surge of massive employment in every country in the world to lay out this sophisticated intelligent Internet of Things platform the communication internet energy Internet transport internet when we take each country’s we new energies their fossil fuel and nuclear is we’re going to have to convert all of that to renewable energy now to do that we have to retrofit every building in every country because the building’s leak they’re not the building codes have always been poor so you can’t put a solar panel on a building if it is inefficient and it leaks through the windows and the doors who’s going to lay out all the insulation and do those buildings no of semi skilled and unskilled workers the construction industry is going to stay busy for 40 years converting all that building stuff this isn’t academic I chair a global team of some of the biggest companies in the world we are laying out this Internet of Things platforms in whole region’s right now we’re doing all of northern France Nordic la the entire industrial region of France this isn’t academic but you have to retrofit the buildings then you have to install the technologies secondly imagine changing the entire electricity grid of every country from several mechanical too smart and digital who’s going to put in all the underground cable robots aren’t going to

do that millions of workers who’s going to put in the sophisticated electronic guidance system for an energy Internet ICT companies electricity transmission telecom companies electronics industry then the transport industry how do we move from internal combustion engines to fuel cell electric vehicles there has to be power plugs in every parking space so your vehicle can plug back in get power from the energy internet or take power out who’s going to put in those power plugs millions of people I semi-skilled and skilled who’s going to lay out this transport logistics internet all the sensors on the smart roads millions semi-skilled skilled workers then you’re going to need professional skills in the transport logistics in Internet to lay out a smart driverless gps-guided transport system across whole countries so there’s 40 years of a huge amount of potential jobs and employment to get there and when people say where is the money that’s the most amusing part of this it’s almost it’s almost sad in the EU I just did a memorandum for the European Union the new leadership they asked where’s the money show me the money I show them the money there’s seven hundred and forty billion euros last year spent in the EU last year on new investment in infrastructure that’s almost a trillion u.s. dollars that’s in one year it went into new old in other words the pouring all that money nearly a trillion dollars into shoring up a 20th century communication energy and transport infrastructure that’s more of an know productivity left exhausted if they only spent twenty five percent of that money and earmarked it to laying out this new Internet of Things form for a third Industrial Revolution we could put people back to work engage industries labor intensive ax t and get this job done have you spoken to people from the European Parliament who negotiated the energy conservation directive that went through couple years ago now they were saying that the main objectors were mrs. Merkel and David Cameron of the UK because it imposed rules on individuals and they seem to be great believers in individual rights and freedoms and so on and saving their company’s money and their governments money well I think Germany’s done a stellar job I think Denmark’s done a very good job other countries are joining in Germany we are making the transition now over the next six months the Vice Chancellor Sigmar Gabriel is a friend I’ve been direct communication with him he’s in charge of the energy transition we’re going to put the storage is going to be put in the energies are moving really much quicker than we thought toward renewables the wholesale prices are plummeting we’re going to have to have a little bit of a hump on retail prices till we get over that this is happening what’s missing this is crucial again the interoperability the codes regulations and standards so we can create a single integrated technology platform then we’ll have a single market so the job of the next Commission is to do that and the new commission now is concentrating on digital the digitalization of Europe and as I say I just developed a memorandum for the new commission on this how do we digitalize communication energy and transport and create that open transparent interoperable system it’s the digitalization that moves us to near zero marginal cost to digitalize communication we meant to near zero marginal cost you and I can produce and share information almost for nothing when we digitalize renewable energy the same thing we’ll be able to move turn near zero marginal cost for renewable energies digitalize transport logistics will do the same thing there so the key is the digitalization I was pleased at last week I saw Harvard Business you did a cover story on the Internet of Things platform last week and they finally came around the Harvard guys I a warden to the executive that they said what’s the secret to this great productivity leap that’s going to change the world they did a box they said near zero marginal cost when we can digitalize across these fields communication energy and transport it allows us to go to near zero marginal cost that’s the ultimate efficient extreme productivity society but then how do capitalist companies actually make that money I think they make money in various ways let me give you an example Facebook Twitter and in Google these are capitalist companies they made a tremendous amount of money by establishing these Commons these digital Commons this allowed hundreds and millions of the rest of us especially young people to begin to produce and share virtual products and entertainment and news and knowledge and near zero marginal cost other industries were disrupted by that the music industry television newspapers magazines book publishing shrunk Google Facebook and Twitter became very wealthy what we’re going to be seeing is that the capitalist enterprises that are successful will either be those who have transformed or new ones that start up and it’s the ones that are going to be able to find value and helping to grow and nurture the child which is the sharing economy in the Commons who will be the Alabama’s the tensions the

googles and the facebooks of energy will it be the electricity transmission companies erecting the energy internet or maybe I CT or maybe telecom or maybe electronics there’s going to be a scramble who will establish the transport logistics gps-guided driverless internet will it be the transport industry logistic companies maybe ICT since my book came out last spring the English edition there are meetings going on in board rooms all over the world right now and they’re scrambling to figure out how they reposition themselves to be able to play a role in helping to nurture this new economic system but the IOT is as they nurture this system a lot of commerce and trade that had high margins in the market will go to near zero marginal cost and move to the commons so it’s a system where it’s relentless zero marginal cost you have to be in the game but there’s a realization when capless companies there in the game some will benefit others will not but we’re moving to a dual system and frankly a generation growing up that our prosumers they need less income if you’re producing and sharing your own good you’re not buying the CDs you’re not you’re not jobs to buy food you’re silly rent absolutely and I covered that and that’s why you still have to have jobs and that’s why we’re going to put two generations to work creating that that infrastructure now here’s the long run in the short to mid-term 40 years we can put everyone in every country to work the layout this infrastructure in the long run this Internet of Things platform is smart that’s what we call it smart city smart planet and so it can work on its own algorithms its own analytics it needs a small supervisor workforce so once we have the labor-intensive atita lay it all out in 40 years we’re going to have a very automated capitalist market with very small workforces we know that’s coming unless you say no to all the technology the only way to stop this is to outlaw the solar panels the wind turbines the geothermal heat pumps the 3d printers the iphones and going to happen so in the long run what do we do we’re already seeing a massive migration of employment it’s moving from the the automated capitalist market to the social economy the social economy is a huge sector ignored by economist who think there’s only the market and government or some form of to the government social market economy there’s a third sector out there it is massive it’s been there it predates industrial capitalism it’s where millions of people willingly produce and share things for each other it’s where you create social capital its nonprofit education healthcare clinics daycare centers senior citizens Soames its environmental groups its culture at sports it’s arts it’s over and over there’s so many things that we engage in where we pay fees for services but they require humans interacting with humans it’s the cultural capital of civilization so if you take a look now in the last 20 years of the studies this social economy it’s not all non-profit cooperative this social economy has been growing at forty-two percent revenue GDP is growing at sixteen percent revenue yeah and the employment same thing the employment of the sector is going much quicker in the US Canada UK it’s already ten percent of the employment his fees for services paid in parts of Europe it’s fifteen percent so we’re not running out of things for human beings to do everybody’s so frightened we’re not going to outlaw automation so what we need to do is first lay down the infrastructure put two generations back to work for 40 years from semi-skilled to conceptual work then at the same time we think our educational institutions so we prepare our young people both for this the smaller opportunities in the automated market and the much more expansive opportunities in creating social capital in the social economy and that’s some higher calling you know I hope our grandchildren I suspect our grandchildren will look back at us with the same set of wonderment as we look back at slavery and serfdom they’re going to say gee my grandfather spent all day long driving a vehicle back and forth and back and forth across the same Road my grandmother spent the whole day long in a department store checking out merchandise in with credit cards wasting her life because hopefully our great-grandchildren I can live in a more automated world conflict will not end I’m not a utopian I think that human beings we it’s a tough living on this planet being alive is tough but it’s a better journey it allows us to use our mind more creatively it can get us to a more ecological civilization and for the young people how about democratizing economic life you mentioned the cultural aspects you look at something like for instance the Arab Spring and it was largely electronics driven it was people using the internet using emails and so on to get in touch with each other and yet did the democracy that many people hope for in the West didn’t develop in all of those countries and in some of them there are still big problems there are cultural differences between

countries that are hard to overcome yeah there is and that’s why this this last book I did as part of a three brooks series it started with book called the empathic civilization which is a we looking at the human narrative and how we evolve our consciousness over history to set up a philosophical in social context the second book was the third Industrial Revolution which laid out a broad vision the third book is the zero marginal cost society which helps us take a look at how we can actually lay out in this platform the actual architecture for this now having said that we have all forms of historical consciousness still struggling on this planet and when new forms of conscious emerge it throws into almost high gear all the all forms of conscience they’re threatened by the new identities so on the one hand we have a younger generation very cosmopolitan like in the Arab Spring they’re up on the Internet they’re skyping on global classrooms they’re engaged in gossiping on Twitter they see themselves as a part of a human family on facebook and they’re connected and they’re becoming more attuned to biosphere consciousness they see the biosphere is their community but a lot of people joining Isis getting there on the other hand you are we still have tribal blood wars from the earliest conscious of history where people are fighting along tribal bloodlines we still have people finding fundamentalist religious wars from our theological consciousness there we still have people fighting ideological wars from our early geopolitical air so all of these former consciousness they still exist on the planet while a younger generation growing up on the internet the digitalized generation is trying to move us to some kind of a global biosphere frame of reference it is a huge struggle and what happens is as the younger generation tries to move forward all these old consciousness rear up because their identities of fronting and they want to they want to backtrack that’s there that’s a huge struggle but barring catastrophe which could happen we have demographics on the side of the younger and younger generations the studies over the last 30 years show that each younger generation is becoming less xenophobic more open to human rights more engaged with their fellow human beings more cosmopolitan and their views to say this isn’t a struggle though would be naive that’s why I disagree with futures they were just technology utopians we have technologies but that doesn’t mean we’ll get there unless we can change consciousness let me say why I’m guardedly hopeful let me give you two examples one is toys I know this sounds a little silly you know commercial toys were invented in ravensburg Germany back in the 1600s beginning a market economy traditionally a parent will bring home a toy and they’ll say to their child their four year old little girl we bought this at the store we’re now giving you your first toy this is not your brother’s toy it’s not your sisters toy your toy you’re responsible for take care of this child is learning their first introduction of property exchange in a capitalist market they’re learning not my brother and sisters to him wow that means I’ve got something special power status possession alright and so they’re getting ready for the traditional campus market what’s happened now in my country in the last few years is a millennial generation of young parents they’re going up on these toy websites where there are thousands and thousands of shared toys by age category the young parents pay a one-time subscription fee which gives them a credit they can download toys and have them shipped by category by age group now in 10 years ago those toys are going to be sent to the home in drones or or driverless vehicles running on renewable energy 3d printed vehicles and near zero marginal cost but right now the parents are bringing the toys home this is happening all over Americans starting in europe and asia and they’re introducing a toy to their four-year-old girl is saying this toy another little girl enjoyed this toy but pleasure darshan a smile on her face she loved this toy and she took really good care of it cuz she knew one day you would want to play with his toy and so the child learns now the toy is not a possession of defend it’s not a piece of property it’s not status it’s not exclusion a toy is access to an experience for a moment of time and the child learns that they have to take care of the toy because other child wants to use that toy in the future they’re learning to become prepared for a sharing economy do you really think that’s going to happen though every children a selfish well but you you’re so right our old folks okay I’m a lot older than you Nielsen just did a survey Nielsen the big survey they just did the biggest survey ever done on the sharing economy on the comments across the world its massive already and what they found is it’s moving much quicker than any than we ever expected and in Europe in America over half of the respondents said they’ve either already shared or they were enthusiastic about either having others ass they share or vice versa fifty-four percent the asia-pacific countries are

even higher much higher and guess which country comes in number one on the sharing economy and ninety-four percent saying they would share their assets with others china china the emerging nations so this is happening this isn’t this idea that we are by nature selfish this is I must say goes back to the anglo-american enlightenment our philosophers have said each little baby is born to be an autonomous agent that seeks their own self material interests and doesn’t give a damn about anybody else but in pursuing their self-interest to promote society very much in English and American tradition I must say in the Enlightenment well the fact is that’s not what history has been about in the new book zero Marcia Cross Society I’d take a look at the whole history of the comments we have had a democratically managed institutions and local communities all over the world for a thousand years predating industrial capitalism where people came together democratically self-managed there’s commons shared their resources were innovative and creative punished wrongdoers expel them if they didn’t go along and those comments are viable it took an economist eleanor Holstrom to write a book on this history because it had been left out of the history books she won the nobel prize the only economist woman ever to win the Nobel Prize just passed away so a lot of our history doesn’t exist before Adam Smith came along and said that we’re each little autonomous agents pursuing our self-interest the fact is most of history we are the most social creature we live by companionship we live by being part of the community ostracization is the worst thing that can happen to someone so what we need to do is take that that basic part of our social character and make it high tech not go back to the quaint Commons of your but move to a high-tech world where we can share this planet what about the young people for instance you’re volunteering to go and fight with Isis in Syria and Iraq and there are thousands of them thousands of European a few Americans there are they go they’re attracted by the idea of killing people who don’t share them let’s not blow this out of proportion a percentage of each generation literally are sociopathic there’s been a lot of studies on it we don’t know if it’s my birth early parenting or some combination of two who are sociopathic and then they’re them some were just ideologically bent this way or they’re radicalized but it’s a small percentage of human race that’s rushing over to the Middle East it isn’t hordes and hordes of people like the Crusades Chomp crossing borders having said that the reason I’m guardedly hopeful is as I’ve traveled i see a younger generation in their teens who have moved from a geopolitical ideological frame of reference to what i would call biosphere consciousness a biosphere is a scientific term it’s a sheath from the stratosphere of the oceans it’s 40 miles we’re all living creatures interact with the chemistry of the planet to maintain this bizarre thing called life on Earth we have teenagers coming home and this is in the developing world to middle class and the developed world and they’re saying to their parents why don’t we use so much water we’re wasting the water why is it television on no one’s using that electricity why do we have to connors can tweak our share one or the one I particularly like apropos to agriculture we have lots of young people coming home and asking their parents where did this piece of beef come from on my plate did it come from a rainforest did they have to chop down those trees in the Amazon for two inches of topsoil for three years to graze the cow and the kids are connecting the dots they know that those trees Harbor rare species of animal plant life if the trees are knocked down those plant animal species die off and they also know if the trees are knocked down destroyed to graze the column from the burger that the trees can’t be a sink to absorb co2 from industrial climate change and a temperature the particles up and the kids connect the dots that I know if the temperature the planet goes up some farmer can’t feed her kids because their land is being flooded and then fixed with drought every summer these kids are learning bowels or consciousness they’re learning ecological footprint your generation in mind we never even that would have been an alien constant they are understanding that everything we do has an ecological footprint that affects the well-being of every other human every other creature every other ecosystem that we inhabit together that we are in immeasurably in mesh and embedded in a life-support system where there’s no escape no autonomy our well-being depends on the well-being of the rest of the biosphere this is biosphere consciousness now will we get there in time don’t know can we find three generations committed and mindful to the task of saving the planet don’t know what I do know is the technologies now there and the economic vision and game plan to introduce that technological revolutions there and possibly is there to employ the human race move our businesses create extreme productivity optimize energy efficiency

get to zero marginal cost and hopefully we heal the planet but there are so many obstacles in the way they were going to have to have some good luck and we’re going to have to depend on the human race at one moment of time to get it together and do the right thing but you’re thinking of other cultural differences they might actually get in the way of the airbnb working for instance in a place like Egypt to conflict of cultures between people from the west and the likely hosts in an Arab country like Egypt that might present difficulties my didn’t know it does what amazed me about Airbnb and car and car sharing sharing the others is how well it’s worked I mean as an older generation I would say when moons of people started to share their apartments and couchsurfing which was free or air B&B would you pay that said this isn’t going to work but the amount of problems they’ve had our miniscule minuscule in terms of people being hurt or injured or somehow taken advantage of miniscule one of the reasons is that a younger generation is creating its own governance on the internet and now the internet of thing they have reputation sites for our generation was your credit rating credit rating goes you’re out of the system I mean it was a big deal for the younger generation on the internet and Internet of Things they have reputation sites you’re judged so if you if you give your home up for someone to share or you are a host or you’re the person using the home both are ranked each time howto congenial with a clean and efficient where they were there good host or a good guest etc and if you lose points on your reputation site like any comments you can be expelled from the system this is happening with sharing car sharing Home Sharing quote everything else so these young people not knowing the history of the Commons all over the world have come up with the same set of principles for democratic management including who’s in the system how you judge each other’s performance what the protocols are the punishments the sanctions and the expulsion these are age-old principles that have governed comments for a long time how confident are you that capitalism won’t hijack this new revolution and make money out of it to the detriment of its completion I think that that’s a big struggle and I spent a lot of time the new book on this in the zero marginal call society what I’m concerned about is network neutrality but made the internet so powerful it was Network neutral anybody could have open access no one’s a discriminating against but now the telecom companies the cable companies the power companies and some of the Internet companies and saying well we want to use the data we’d like to charge different prices I’m not so worried about the telecom cable and power companies when i saw i saw the Recording Industry the music industry tried to stop young people from sharing music they tried encryption criminalisation legal suits it just didn’t work when millions of people had the technology to share it they get it I saw that the big power comes in Germany were powerless those big for power companies when millions of people got low interest loans from the bank starting to create their own energy it really wiped out the power companies is power generators they’re still going to service the energy internet and they’ll have a mission to perform I’m more concerned about the Internet companies i love google i love the magic box i love google i don’t use facebook and twitter very much but these companies have been successful by setting up a commons that allows millions of us to produce and share all sorts of things at zero marginal cost on the commons sharing but it’s disrupted other industries but now these companies have come very wealthy the question is do they get to the point where they’re a global monopoly where they can use our data our creative content in ways that we don’t like for commercial advantage with third parties we’re now reaching that point in the discussion so the love affair has now moved into a social and political process and I suspect that at the EU level we’re going to be dealing we already are dealing with this question of are these public goods one an operation like Google or Facebook or Twitter has something we all need there’s no alternative it’s a public clip so what did we do with public goods in the 20th century we all needed the electricity the natural gas pipelines and the telephones so we allowed those companies that became successful to stay in the market keep private but we regulated them in terms of their price transparency engagement and openness it worked so I have no problems with keeping these companies in the private play a private marketplace they’ve been successful let him continue but I have no doubt that at the EE level in the global level there’s going to be global authorities we will regulate these internet companies in terms of price transparency network neutrality privacy of data and guaranteeing our creative content to believe that it won’t happen is naive the whole human race is going to be connected to the Internet of Things does anyone think the whole human race is going to remain silent from here to the end of history and allow a few companies to dominate this it defies history people always respond when millions of workers were undermined by the early factory owners and beleaguered and beggared they organized trade unions to get fair compensation for quote the creative content their physical labor

this is going to happen again how long do you think it’s going to take for a younger generation to put together a bill of rights it’s already being done a digital Bill of Rights and put it up on the internet for everyone at sign you know side the performance dancer in Korea gong dong dance that young man brought a billion people his website in two months and near zero marginal cost how long you think is going to take for the young millennial generation to put together a website for nearly free and ask a billion young people to sign up on a digital bill of rights to guarantee their creativity their content the data security and privacy then they’re sitting across from Google Facebook Twitter Alabama attention what are they going to say no because they live on the reputation they built by creating this Commons the Commons is ours though the government so we’re going to have to have an esprit de corps a collegiality there’s going to have to be an agreement here i I’m hopeful enough that I know that will happen I’ve been an activist for 45 years I know that that’s going to happen Jeremy Rifkin thank you very much indeed thank you you