Technology | Bennat Berger

How Amazon Is Redefining the Way Everyone Does Business

When you mention the name Amazon, one of dozens of different ventures may come to mind. Of course, there’s the website that started it all, with convenient two-day shipping and a seemingly infinite selection of goods. Maybe you think of the high-quality content arising from their Prime Video streaming service, or the Amazon Movie studio that’s released films from acclaimed auteurs like Spike Lee and Jim Jarmusch. There might even be an Amazon Echo in your home, connecting you to Amazon during your every waking hour.

Through retail, entertainment, even food, Amazon is quite clearly becoming a driving force in our everyday lives. It’s no secret that the company wields a great deal of influence over the things we buy and watch. But lesser known is just how much one particular division of the company provides the underlying support for all these products plus many others, in ways that carry serious implications not just for the company’s own business and those it hosts, but international relations and more.

Launched in 2002, Amazon Web Services (AWS) offers subscribers a complete online business platform via access to virtual computers and servers upon which they can conduct their day-to-day dealings. Thanks to an incredibly vast array of servers, a massive number of businesses from startups to industry hegemons currently conduct their operations under the Amazon umbrella.

With revenue of $17.4 billion in 2017, AWS has become a major piece of the supercorporation’s plans. Thanks to a roster of over one million clients, Amazon’s Internet dominance now reaches far beyond their retail origins. Customers of the web services range from Netflix to Unilever to the CIA, an impressively diverse set of users. We’re operating in unmapped territory when web-only businesses operate in the same sphere as colossal retail conglomerates and the world’s most powerful intelligence agency. Of course, if such a map does exist, it’s in the sole possession of Bezos and company.

To be clear, Amazon is not the only web giant offering such services. But similar initiatives from Google, Microsoft, and others don’t have nearly the reach that Amazon does, both online and off. Over a third of the entire world’s cloud computing services are handled by AWS, with no indication of slowing down. This means that, as business is increasingly done over the Internet, all roads must pass through Bezos’ domain.

Additionally, competing cloud computing services don’t have the integration with the mass shipping infrastructure that Amazon has built, nor Bezos’ continual expansion that’s been virtually without precedent. Google may be today’s biggest name in web services, but they don’t have a fleet of airplanes. Amazon does. Microsoft doesn’t have nearly 500 nationwide grocery locations with large footprints in virtually every major American city. Amazon does.

Skeptics have pointed out the potentially grave implications of one company holding this amount of power. A lengthy diatribe in The Nation magazine paints a gloomy picture of a world where all businesses must play by Amazon’s rules in order to function at all. If AWS continues to grow the way it has already through 15 years of existence, there’s no telling what the end result may be and whether new regulations will come into being to reign in the company’s ambitions.

Whether these predictions will come true or not, it’s undeniable that as the Internet is the staging area for more and more of everyday commerce, Amazon is poised to be the dominant force in that sphere and all touched by it for years to come.

By Bennat Berger|2022-04-12T19:29:18+00:00March 20th, 2018|Technology|

How Well Do Sci-Fi Movies Predict New York City’s Future?

“Truth is stranger than fiction.” One would think Mark Twain’s famous rule would apply to New York City as much, if not more than, any place else in the world. But when it comes to science fiction, oddly it doesn’t.

The internet is full of articles about sci-fi movies that accurately predict the future, technologically and otherwise. Often, the future happens on the west coast—Los Angeles is particularly popular, according to multiple listicles devoted to the topic of movies that predict technology accurately. Although, oft-cited in the top 10 of the list, Minority Report, released in 2002, is actually set in Washington, D.C., in 2054 A.D.

But, even if some of the technology—like virtual reality, voice-interactive computers, and frighteningly personalized advertising—does exist today, when it comes to predicting New York City’s actual future status, the movies, for the most part, fail spectacularly. This science fiction is definitely stranger than any true thing about New York.

The original 1968 Planet of the Apes is set on a planet approximately 2,300 years in the future where man is pre-lingual and apes are the dominant, advanced, species. Four astronauts crash land on the planet (one is dead already) and are captured by the apes. After more than their fair share of anguish, torture and surreal moments, one astronaut, Taylor (played by Charlton Heston) escapes, follows the shoreline and sees the remains of the Statue of Liberty. So the “planet” is really New York City, more than two thousand years after a nuclear holocaust.

While it’s only 2017, and not 3978 A.D., at this point there’s no sign of an all-out nuclear holocaust and if we look at the painful and horrific example of Hiroshima, cities can recover from a nuclear bomb without humankind reverting to cave days. So, no, planet Planet of the Apes is not future New York City.

In 2022 (yes, that’s in five years) 40 million people will live in NYC, in dilapidated housing or on the streets, according to the 1973 sci-fi classic, Soylent Green. The premise is that the 20th century’s industrialization would lead to overcrowding, pollution, and global warming due to the greenhouse effect. Most of the population would survive on rations produced by the Soylent Corporation, the latest being Soylent Green, a green wafer advertised to contain “high-energy plankton” from the World Ocean.

Now, there is a homeless population in New York City, and New Yorkers do love their green foods and supplements (there is even a company called Soylent which creates powdered and liquid food substitutes.) At the same time, global warming is widely accepted as actual, scientific, fact. But in five years, will all New Yorkers rely on wafers that are actually made out of human corpses? Doubtful, exceptionally doubtful.

Movies from the 80s didn’t show a New York that fared much better. In 1981, Escape From New York predicted that Manhattan, in 1997, would be one giant maximum security prison following a war with the Soviet Union. By actual-1997 the Soviet Union had collapsed, and New York had not morphed into a prison. Also, thus far, no Presidents have been kidnapped and left in the hands of criminals in Manhattan.

The Fifth Element, released in 1997, certainly depicts New York City traffic, and taxicabs, in a relatively authentic way. In 2263 will we have cabs that fly? It’s more than possible, according to this New York Times article from April 2017.

The ability for a New York City lab to reconstruct a humanoid woman from the severed hand of an alien race? Even knowing that it’s mandatory to do so in order to save the universe, it still seems unlikely that our biotech (or casual hobnobbing with aliens) will have progressed that far in 146 years. Then again, 150 years ago who would have predicted that it would be possible, today, to bioprint human tissue?

The 2004 film, The Day After Tomorrow, does an admirable job flooding and then freezing New York City. But, it’s set in 2004 and while we did have the coldest January since 1977 that year, and summer brought hurricanes Ivan and Jeanne, the city survived both admirably. Also, the main branch of the New York City Public Library is an excellent place to weather any storm.

One more scenario that didn’t happen: I Am Legend. Great movie, but Will Smith has not actually turned out to be the only fully human survivor of a viral plague that swept the city in 2009. Between the anti-vaxers and the prevalence of viruses, it could, still, happen — maybe. But it hasn’t.

Which sci-fi movie, then, does get it right about New York City? In my opinion, that honor goes to The Adjustment Bureau.

The movie, starring Matt Damon as ambitious politician David Norris and Emily Blunt as beautiful contemporary ballet dancer Elise Sellas, hit theaters in 2011. It was set in present-day New York but in an alternate reality (discovered by Norris) in which the men of The Adjustment Bureau have a “plan” for each person.

The central question posed by the film is do we control our fate, or does fate control us?

It’s New York City, and no New Yorker—Norris included—is going to put up with predestination. The two characters fall in love and, despite the odds (presented by the agents of Fate itself) at the end of the movie they are together. Love conquers all. (Except, of course, subway delays.)

By Bennat Berger|2019-05-30T19:17:51+00:00March 20th, 2018|Technology|

The Ethics of Bitcoin: Is the Cryptocurrency Better for Banking?

If you’re anything like me, you’re equal parts fascinated and befuddled by the evolving world of cryptocurrency, and Bitcoin in particular.

For those of us used to paper and plastic, the idea of a decentralized, digital payment can seem pretty pie in the sky. But many are quick to call it the currency of the future, and if the buzz is any indication, it could be. According to Realtime Bitcoin there are more than 16.5 million Bitcoins in circulation. The current exchange rate is one Bitcoin to US $3,917.83. That puts the total amount in circulation at almost US $65 trillion.

Created sometime between 2008 and 2009, Bitcoin only took off in 2013 when it hit an all-time high––at the time––of US$1,100. Over the next few years, the price fluctuated. Recently, however, the virtual coin has garnered resurgent interest, skyrocketing to an all-time high of US $4,522.13 in August.

But what caused the newfound appreciation for the cryptocurrency? And what concerns should we have regarding the ethics of Bitcoin? Technology that seems amazing often poses ethical quandaries we need to engage with, as I’ve talked about in regards to AI.

Here’s a look at the current state of Bitcoin and what it means for banking, both today and in the future.

Bitcoin’s Surge

There are a few clear reasons for the recent surge in Bitcoin stock. First, its blockchain technology has been of special interest to some major players in finance. Morgan Stanley, Goldman Sachs, and JP Morgan believe that this technology may improve the trading of loans, securities, and derivatives.

Second, Japan and China have begun to embrace the cryptocurrency. In April, regulators in Japan introduced certain rules to integrate Bitcoin into the regular banking system (rather than peg it as an outlaw currency). This change has caused many investors to swap their Yen for Bitcoin.

In addition, Chinese authorities who have been critical of Bitcoin in the past have recently gained more tolerance for the currency. This has made Bitcoin-related investments in the region far less risky and far more attractive.

Thanks to these developments, Bitcoin has taken a step forward in legitimacy. People will be less likely to hold it for speculative purposes and start buying actual things with it.

But this begs an important question: Will Bitcoin, blockchain, and other cryptocurrencies bring us to a more ethical level of banking? Or will the challenges of these new systems create an equally murky financial system?

A Case for Bitcoin

Trust plays a key role in finance today. But what if we eliminated the need for trust in conducting business transactions? A successful transaction would be guaranteed, no matter who you were dealing with.

Garrick Hileman, an economic historian at the London School of Economics and University of Cambridge, points out, “A big part of the problem with Lehman Brothers in 2008 came from counterparty risk and the fact that settlement could not be counted on.”

With the advent of blockchain technology and smart contracts (computer programs set to execute a transaction once certain criteria are met), it could be possible to take trust out of the equation entirely. Transactions are conducted on the basis of guarantee because collateral is posted instead of withheld. Potentially, this could avoid a Lehman situation in the future.

Bitcoin also offers the advantage of cutting costs. Right now, banks put a lot of money into the transaction process. Part of the reason is that much of banking is still done manually and saturated with paperwork. This occupies both time and resources. With an automated system, verified by blockchain technology and smart contracts, we would save billions in capital, conduct transactions more quickly, and achieve it at zero marginal cost.

While the engineering behind this technology is still not yet ready to be rolled out for use in banks and other financial institutions, the promises of automated settlements, a higher level of transparency, and an overall reduction of overheads promise a more stable financial sector.

The Challenges

Cryptocurrency doesn’t come without its challenges. Though it has its proponents, some go as far as to call it “evil”. And this isn’t without reason. Those who argue against cryptocurrency have posed concerns on the anonymity of how transactions are conducted. Case in point: Bitcoin has long been associated with shady business transactions and entities such as Silk Road (which was shut down late 2014).

This anonymity, they say, allows the currency to be used for criminal activity in ways that other currencies cannot. It could be argued that this actually encourages unethical transactions.

However, it’s important to note that the anonymity isn’t absolute. Transactions conducted using Bitcoin are made public on the blockchain. That means that parties involved can be found linked to their Bitcoin addresses, although they are often difficult to find. A good example of this is the Silk Road founder, Ross Ulbricht. We were ultimately able to break the anonymity and discover his identity, but it took both time and resources.

In short, we don’t want to create a lawless market. That means there need to be additional measures put in place to ensure that the government, the technology, and the banks are in close contact. We must protect the ethics of cryptocurrency.

What it all means

Finance often falls into ethically questionable territory. That’s why banking needs an ethical solution that’s available to all parties, that is affordable and verifiable, so that there is accountability across the board.

On the other hand, the structure of cryptocurrencies and the blockchain technology allows for scalable ethical banking. This would be achieved by first combining the digital efficiency of the currency and the scalability of computers and networks. Existing rules and regulations would ensure that the consumer is adequately protected.

We’ll just have to wait and see on which side the Bitcoin lands.

By Bennat Berger|2020-02-11T16:45:11+00:00March 12th, 2018|Culture, Current Events, Technology|

How Amazon is Redefining How Everyone Does Business