Facebook, Google, Amazon ... have proved to the world that oil is no longer the number one resource.

Not oil, the Third World War is likely to happen because of new resources: it's information. The current oil price has passed the gol...

Not oil, the Third World War is likely to happen because of new resources: it's information.

The current oil price has passed the golden age due to the boom of shale oil industry. Demand from China plummeted while the Organization of Petroleum Exporting Countries (OPEC) refused to cut further production.

However, this is not the main reason why this black gold depreciated in the eyes of investors. In fact, the rise of another resource is the main factor that makes oil less attractive, which is information.

Currently, the 5 largest market capitalization corporations in the market, Alphabet (Google), Amazon, Apple, Facebook and Microsoft, are still growing at a rapid pace. The total revenue of all 5 companies is about 800 billion USD / year, higher than the total GDP of the whole Saudi economy combined (684 billion USD).

Today, few people can live without Google's search engine or interacting on Facebook. Meanwhile, e-commerce has now become a trend threatening the traditional retail industry.

Although big companies, technology companies do not apply silly monopoly methods like oil corporations. Users are free to use the service and even for free. Any company can enter this market as long as they are strong and creative.

More interestingly, even many of the following brands surpassed the previous ones by unique ideas as well as accurately grasping the trends of consumers.

Data Church vs Petroleum Assembly

According to the Economist, if oil refineries are no different from a church with power, the data centers are just as much as a temple with gray buildings without window frames and heaps of machines. giant.

However, both spear data and assembly oil had to use the same thing: the pipes. While oil exploitation needs oil pipelines, drilling pipes ... the spear data needs the main cooling pipes, data pipes, wires of all kinds.

Both types of resources are exploited and used by people to serve the world economy. Petroleum is used for plastic, gasoline, drugs ... and data is used for online services, e-commerce ...

Even so, it is likely that the club oil was in its heyday when shale oil technology also had the negative effects of the environment on humans.

Now, spear data is growing similar to spear oil when this type of resource was initially developed and affected the world economy. Information flows create new infrastructures, new businesses, new regimes and even new economies.

Unlike any other type of resource, information data is exploited, screened, evaluated and traded in a very different way. Thereby causing the market and the rules of the game to change to adapt to the new environment.

Today, many trade wars take place, even political conflicts erupt because of information and data ownership. If the WannaCry virus attack was recently a war, it is clear that individuals, organizations and countries that launched this battle had a preemptive attack when they took ownership of information and forced many people to spend money. redeem.

Data from research firm IDC shows that the world will gradually become a realm of information and the flow of data will reach 180 zettabytes (180 and 21 zeros) by 2025. It will take us 450 million years to Can transmit all this data via wireless Internet.

Even to speed up the data transfer to cloud servers, Amazon had to hire memory ships with 100 petabytes (100 and 15 zeros) to cross the sea.

Of course, large corporations recognize the potential and future of data dominance. In 2016, three major companies, Amazon, Alphabet and Microsoft, invested US $ 32 billion in data line upgrades, up 22% from the previous year.

The quality of the data streams is not as heavy as it used to be. Now, corporations exploit information primarily based on real-time data stream analysis, aggregating unsorted information from users, social networks or other technology devices to build information stores. believe they need.

In the near future, when sensors and mobile devices gradually become popular. Information and data will replace oil that dominates the world and technology corporations will become giants affecting all humanity.

Era of information

The quality of information flow today is increasingly being improved. Previously, Facebook and Google used user information to improve advertising quality and profitability. However, they now realize they can use this flow of information to build more. For example: artificial intelligence projects or intelligent identification applications, automatic language translation systems, virtual reality technologies ...
All of this useful information can be sold to companies developing products for profit.

Spear data has been around for a long time, but in reality it has only shown its potential to rule the world in the past few years. Interestingly, the user interaction itself has increased the power of spear data. The fact that people interact on social networks makes Facebook improve the ability to locate ads as well as evaluate the audience to upgrade. Meanwhile, more and more people use the Google search engine to make this application improve for greater accuracy.

Large technology corporations are not looking for new information, they create algorithms to learn user habits and upgrade themselves. This explains why the photos we upload to Facebook have auto-tagging so much more accurate, and Google seems to be increasingly understanding what we need to find.

Turn to another company, Uber, why do you think it's worth $ 68 billion? Simply because this company owns a large number of data of both drivers and people who want to ride and this makes the company's value.

What about Tesla, do you think this is just a pure electric car company? Billionaire Elon Musk is not so stupid because his company has collected 1.3 billion miles of driving data and used them for autopilot technology. Clearly, this famous man in the tech world also understands the golden age of the coming spear data.

How much is a unit of data?

In the same way as in the oil market, large-scale corporations acquire smaller companies. However, if crude oil is the world's most traded resource based on value. In contrast, raw data is rarely used for public trading on an official exchange.

Most technology companies today prefer to use their own data rather than publicly market. They can subscribe to aggregated reports but rarely buy raw data packages. The first reason for this is that they are more profitable.

However, if you want to openly trade data, it is difficult for the market to price because the demand and classification of data are very different. This is completely different from oil when investors can easily price each barrel of oil regardless of their classification by origin or location of exploitation.

Currently, many experts have tried to understand and analyze the data trading market with the concept of "Infonomic". For example, in 2015, the betting firm Caesars Entertainment filed for bankruptcy and it was the data of more than 45 million customers that the company's largest asset sold for $ 1 billion.

Also in 2015, IBM acquired Weather Company for $ 2 billion to gain access to the company's vast data volume on weather.

In addition, information can be copied and used outside of the original purpose of the purchase and this makes it more difficult for those who want to price data or establish an exchange for them.

In fact, the free flow of data is not quite good. Technology companies today rely too much on free data streams and forget that only when data is priced and paid, useful information is built.

Similar to the oil market, only when companies agree to pay for post-oil products will refiners make profits. If not, the world will own only crude oil and cannot be used in many industries.

Will World War 3 break out because of spear data?

In 1911, the US Court decided to split Standard Oil, which controls 90% of the domestic market for antitrust.

Currently, with the strong rise of data and technology, many countries around the world are also wary of the merger and acquisition contracts. The Facebook merger with WhatsApp has attracted the attention of European public opinion, though it has been approved. Many people worry that the expansion of Facebook will threaten the development of new technology companies later.

In 2018, the European Union (EU) enacted a general information protection law (GDPR) that came into effect in May 2018. Thereby, they force technology service providers to allow customers to provide information to their competitors more easily if they want. In other words, Apple user information will have to be provided to Microsoft if the customer accepts that.

In addition, European policy makers are quite concerned about information distribution. Now when customer data is equivalent to the profits of many companies, unintended disclosure is unacceptable in Europe. Therefore, the GDPR law also tightens the management of the usage of personal information of the company's customers. Penalties for data leakage or misuse can add up to 4% of the firm's global sales.

In addition, the data distribution imbalance is becoming serious in the world when the US has too many corporations controlling this resource, from Facebook, Google to Amazon. Meanwhile, China is also rising with Alibaba. But the country still requires technology corporations to share this type of resource by placing servers or data stores in their country.

With the increasing position of the information flow, the conflict over the interests of data resources in the future will be increasingly intense. At the same time, the battles of the coming decades may not revolve around oil but on who has the right to collect data.

So will World War 3 happen due to a competition of information resources?

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Composed by Mr. Nerd

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High Tech Brain: Facebook, Google, Amazon ... have proved to the world that oil is no longer the number one resource.
Facebook, Google, Amazon ... have proved to the world that oil is no longer the number one resource.
High Tech Brain
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