Tech's Undeniable Role in the Global Economy with Paul McCarthy | S2 E9

Mangtas Nation

English - August 08, 2022 09:00 - 45 minutes - 62.5 MB - ★★★★★ - 1 rating
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Previous Episode: Metaverse: When Physical Meets Digital with Dr. Mark van Rijmenam | S2 EP8

Next Episode: The Future of Finance: Exploring the World of Fintech with Kiet Tran | S2 EP10

“Pine Trees have these needles that they drop around them, so they stung all the competition beneath that pine tree. It means that when you’re a plant who’s trying to compete with that pine tree, there’s not much chance you’ll be able to grow in its circumference.”

The metaphor of the pine tree implies that the new rules of competition have changed not only in the tech space but also in the global economy. It is also undeniable that this difficulty is fueled by the democratically-elected monopolies that either give us business learning points and benefits or greatly dominate the industry – adding more tension to the competitive marketplace of tech.

Paul X. McCarthy tackles this state of market power and dominant companies that are taking over the power/control in the technology industry. He also tackles how research and computational data science can help understand human behavioral trends and the productivity and impact of individuals on businesses.

Paul is the CEO and Co-founder of the League of Scholars, a research leader, an author, and an adjunct professor at UNSW Australia

In this episode, we particularly talk about:

1:58 - 3:13 About Paul X. McCarthy
3:53 - 5:11 The Motivation of Paul to write the book “Online Gravity”
5:23 – 6:53 An example of How the Rules of Competition has changed
6:54 – 7:47 “There is a lot going on in the Tech World”
7:48 - 9:29 Dominant Players in Market Competition
9:52 - 11:40 The gravitational pattern in the business world is because of the Range of Network Effects – Increase in Returns, Familiarity of Users, etc.
11:41 - 13:03 Theory of Online Gravity: Small Domains gain the largest share of online attention, market power, and dominant companies
13:04 – 14:18 Good News: The benefit derived from Global Companies and Monopolies that are approved by the people
14:19 - 14:58 Harder Competition in the Market
14:59 - 16:36 Relation of the Natural World and the Business World - Diversity
16:37 - 18:27 Functional Competition and Functional Dominance
19:25 - 21:37 What Companies do to Dominate their Markets
22:22 - 23:08 Efficiencies and Benefits in Global Enterprises
23:09 – 23:40 The need to be Mindful of Monopolies
24:30 – 26:10 About the Leagues of Scholars and What they do
26:25 – 28:33 Economic Results of COVID-19 on Research
28:46 – 31:10 Acceleration of the Field of Computational Science Research
31:29 – 33:15 The Reason for the Forgetting Curve
34:03 – 36:05 Challenges and Opportunities in Data-driven Companies
36:26 – 41:22 Working with the Government
41:34 – 43:33 What Paul does for fun

Visit Paul’s website: https://www.onlinegravity.com/

Mangtas Nation is hosted by Mangtas CMO Jacki Demuynck and CEO Wouter Delbaere. Jacki and Wouter are also the co-founders of Mangtas – a digital platform that provides reliable B2B tech solutions through vetted vendors and an optimized project flow.

Connect with Paul: www.linkedin.com/in/paulxmccarthy/

Connect with Wouter: www.linkedin.com/in/wouter-delbaere

Connect with Jacki: www.linkedin.com/in/jackidemuynck/

Join us at https://tinyurl.com/mangtaswebsite