Across multiple literature, its been stated privacy versus health will be one of the primary dichotomy societies around the world will need to juggle with as technological advances are made in the fields of artificial intelligence, communications (surveillance) and medical science (genetic research).
What is surprising was the rate at which the Corona pandemic catalyzed this change. In light of this, it is fascinating to observe how different societies position along the spectrum. Some societies has opted for surveillance to the maximum extend possible with current technology while others opted for its polar opposite going to the extend of staging mass protests against it use.
The AI Economy, Roger Bootler
To Be a Machine, Mark O’Connell
Irrational Exuberance, Shiller, Robert J.
Life 3.0: Being Human in the Age of Artificial Intelligence, Max Tegmark
The basis we use for interpreting what is happening our world is through the understanding of our history. History heavily relies on narrative constructs.
The critical flaw with using narration as a tool to understand, encode and communicate what has transpired is it can only support data in a chronological order while reality is inherently chaotic, multi-linear, on occasions non-linear and confounds understanding thus narration. To tell a coherent tale of what has transpired, authors are forced to decide what to include and leave out of the narrative they weave. This phenomena is commonly labelled as the narrative fallacy.
Compound narrative fallacy with a collection of common human cognitive bias such as the framing bias, survivor bias, confirmation bias and consistency bias and you get a recipe for a fragmented society. This is especially more so when you have multiple equally plausible narratives that are diametrically opposed but draw evidences from the same chaotic sample space to reinforce their positions.
The task of deciphering what has transpired becomes even more daunting to the everyday individual with the reintermediation of social platforms as our primary news source. In the days prior, individuals need only rely on one official news source on how to understanding what is happening, usually from their government. Now, individuals are bombard on a daily basis with news sources sponsored by multiple parties with varying interest and agendas. In this day and age, it has become crucial for individuals to exercise critical thinking.
Some final food for thoughts:
Iran is portrayed as an evil country in American media
America is portrayed as the devils incarnate in Iranian media
China is portrayed as an evil country in American media
America is portrayed as an evil country in Chinese media
Why is it that the winners are always as good and righteous in any battle?
“If God’s on our side, who the hell could be on theirs?” Private Reiben in Saving Private Ryan.
A company is only likely to go bankrupt if its creditors recalls debts and it is not able to pay back.
In the event of a major wide spread disaster and there is no one around to take advantage of it, it is unlikely the creditors recall debts
creditors of airlines would more likely want to have all their clients continue generating revenue with the planes to pay off debt than to foreclose of them and take back planes which are at that point worthless inventory for them
Labor unions will not want to have all their union members laid off, they will likely go into negotiations to deal with salary issues.
Ships of cruises are likely to deteriorate fast and require Capex to upkeep
Credit lines and payment schedule can always be renegotiated if impact is industry wide
If creditors are not willing to recall debts, then what would be the cause of bankruptcy? Beware of fake news that preach doom and gloom with no underlying basis
If you bought too early into the dip and you are more than half way into the dip might as well hold on for the recovery. Trying to exit too late into the dip will only cause more losses to be unnecessarily incurred.
Oil specialists are either producers or consumers, it is hard to determine the demand unless you are an insider
Wait till all the bad news are out and sentiment has turned before entering into position. Its ok to only go into position after the company share price has advanced 100% from its lowest levels.
A stroll through the peaceful streets of Rome. In contrast, it felt like the end of the world is here if you read news about Italy recently.
The human brain is a remarkable pattern recognition engine. When given incomplete information it will conjure up the “missing” pieces to generate a coherent whole that could be comprehended. More often than not what gets generated is the worst case imaginable scenario. In a normal time and age this is a wonderful function to have running automatically in the background to keep this primate alive.
However, this automatic function becomes problematic as three trends converge.
Trend 1 – big tech like Google and Facebook consolidated advertising revenue putting news entity under increasingly pressure to sustain themselves as their advertising revenue dwindled
Trend 2 – the proliferation of publication medium means anyone can now claim to be a news entity.
Trend 3 – Proliferation of Growth hacking techniques perfected by tech companies like Facebook that hijacks the human brain’s automatic fight or flight to generate user action that gets converted to revenue.
News entity generate revenue with hyper inflated news that drives readership and vitality by tapping into fear and anger. This drives wide spread panic. Corona is perfect catalyst.