Why Data Is Like Fire

Some people say data is like oil, but Long Chen of the Luohan Academy says it's more like fire: it can be copied and spread ad infinitum. Unlike the industrial revolution, the digital age has the potential for previously unimaginable increases in productivity. Information can be shared by an unlimited number of users. Unlike other resources such as oil, data can be used, leveraged, and exhausted repeatedly. The confluence of its exponential cost reduction and non-exclusivity has led to unprecedented shared involvement. Almost everyone is a stakeholder of data; whether is it is a producer, contributor, a sharer, a beneficiary, an influencer, or any combination of them; this is the fundamental cause for the digital revolution.

 

 

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