Ross Mayfield; The Coming Tech Backlash; In That Certain Blog at possibly entitled Shift (too much cobranding), sponsored by Newco, but centrally hosted at Medium; 2017-01-03.
Teaser: Tech innovation is killing jobs, not foreign scapegoats, and revolt after Trump will be Luddite
Summary: The tech industry played an influential role in the outcome of the US Presidential election. Not just in providing the medium for Fake News and propaganda. The root cause is job destruction by Automation — that drove a base of dissatisfied rust-belt voters to support Trump. Job destruction is accelerating, and if Tech doesn’t get ahead of this problem, there will be a significant populist backlash against the industry and it’s ability to progress.
Ross Mayfield is CEO & Co-founder, Pingpad; ex-LinkedIn, SlideShare, Socialtext, RateXchange.
tl;dr → The future is foretold. The hipster socialism. A startup is promoted. Robots bad. Need Jobs for the unpublished classes. the lede is buried. The working classes need Slack addon, Pingpad, that create jobs; a bot-augmented wiki knowledge base.
Claim: <quote>The average fund manager can gain 0.40 to 0.70 percentage point of return by using more intelligent data when trading mortgages<snip/></quote>
<quote>Regulators could conceivably deem TheNumber a consumer credit bureau like TransUnion or Experian Plc.</quote>
Propensity Scoring… ,br/><quote>TheNumber tries to determine how much pride a homeowner probably has in his or her property, based on information it gleans from third parties, such as whether the resident tends to click on online ads from home improvement and gardening stores. It’s not a credit score, but<snip/></quote>
Mortgate (financialization & repackaging) Regulation
Reg AB II, SEC
<quote>ended up requiring less information from issuers than it had originally planned, to protect borrowers’ identities.</quote>
(no reference given) An RFC; “The Consumer Financial Protection Bureau”; 2017-02.
solicitation: <quote>comments about the benefits, and risks, of using alternative data.</quote>
In order of appearance
John Ardy, chief executive officer Resitrader (a mortgage resale market)
Lee Tien, a senior staff attorney, Electronic Frontier Foundation (EFF)
Frank Pasquale, professor, Francis King Carey School of Law, University of Maryland.
Jeff Taft, partner, Mayer Brown (legal advice)
Michael Osnato, ex-”head” of “an enforcement unit”, Securities and Exchange Commission (SEC)
Michele Raneri, (a) vice president of analytics and new business development, Experian
Paul Mangione, now-consultant, ex-staff, Apollo Residential Mortgage. Mangione
Brian Tortorella, staff, Smith Graham (mortgage trading, arbitrage).
Adam Murphy, founder, Empirasign Strategies LLC (mortgage trading & data)
Off box. It is stored with Philips, in their cloud, somewhere. They keep it.
<quote ref=”page“>Your data will be saved, so even if you delete your app and reinstall it on the same or different smart phone. As long as you restore it in the same country you downloaded it in, you will see all your historical data.</quote>