In our fourth installment of the Bytes Chat, we convened a panel of economists to discuss the newly released NBER study on the impact of robots on jobs and wages. Bytes contributors Rob Seamans, associate professor at New York University's Stern School of Business, Bret Swanson, president of Entropy Economics, and Hal Singer, senior fellow at George Washington University's Institute of Public Policy were joined by special guest Marshall Steinbaum, senior economist and fellow of the Roosevelt Institute. The conversation has been edited slightly for readability.
When you start a revolution, you need to go public before the next revolution starts. Hadoop used to be the "revolutionary" technology behind the "big data" revolution but it has now been buried deep by deep learning, at least as far as the tech hype is concerned. One Hadoop distribution vendor, Hortonworks, sensed the passing of the "revolution" baton early, and went public in 2014. "In a year or two we may look back at November 10, 2014 [the day it filed for IPO] as the beginning of the end of the Hadoop Bubble," I wrote in The End of the Hadoop Bubble?
In a strong indication of the links in tech between China and Silicon Valley, social network giant Tencent has acquired a 5 percent stake in U.S. electric car maker Tesla for $1.8 billion. The rationale behind the deal is potential collaboration on automated ride-sharing and delivery services as well as related information, entertainment and e-commerce content.