in this video we examined the dark side
of exponential technologies the future
I’ve shared with you is exciting and
helpful but let’s not kid ourselves
exponential technologies also create
serious risks that cannot be ignored
you’re definitely wanting to see this
next video just make sure you’re not
doing it right before you go to bed
let’s get started the future sounds
exciting doesn’t it if you’ve watched
the videos to date but we’ve got to
admit there’s a dark side to technology
so let’s explore that the fact is that
criminals are exploiting technology now
that in and of itself is nothing new
there have always been thieves and
robbers and all that kind of stuff but
even though it’s nothing new it is a
little bit new of what’s going on I mean
remember Al Capone Al Capone was you
know a big deal in the Prohibition era
he was using automobiles when police
were still riding horses remember this
Machine Gun Kelly well he was using a
machine gun hence his name when police
had revolvers drug dealers were the
first people using pagers and cell
phones long before anybody else was and
these days they’re crooks are and drug
dealers they’re using submarines tunnels
robotic gear they even have their own
cell phone towers well it’s not unusual
to find that bank robbers are using
getaway cars but you know there’s now an
app that lets robbers hire getaway cars
there’s also an app called
or how about this one please
rob me dot-com they know when you’re
going away on vacation how do they know
you posted it on Facebook you’re telling
everybody how excited you are to be
going to Hawaii well they knew your
house would be empty they post the data
there for crooks to know when it’s good
to rob your house at megaupload this
site before it was shut down
had free music and movies through
illegal downloads 50 million users a day
4% of global Internet traffic how about
the website girls around me you want to
know if there are you know girls around
you this site will tell you if there are
how about Ashley Madison site that
became infamous that was encouraging
married people to have discreet Affairs
67% of college students admit that they
have sexted meaning they have allowed
others to take photographs of them in
shall we say compromising positions
the photos are often linked to Facebook
and Twitter accounts and these photos
get posted online for all to see and it
occurs after the breakup there’s a
website called it’s now referred
to as revenge porn you took these
pictures lovingly but then your ex posts
them angrily on the website to embarrass
and humiliate you the FBI says in 2016
240 million dollars were lost to online
scammers there’s something new in the
world of insurance called K and our
coverage kidnap and ransom yeah you
travel overseas to another country
here’s what the crooks do they wait in
the airport terminal they see a guy
standing there with a sign with your
name on it you come off the plane you
meet your driver he takes you to your
hotel or that’s the way it’s supposed to
be instead the kidnappers walk up to the
driver they hand them a hundred bucks
and they tell them to leave they then
stand there with the sign you show up
and happily get into the car voluntarily
and the kidnappers have already
kidnapped you and you don’t even know it
so now business executives and wealthy
people can purchase kidnap and ransom
insurance because that’s all the
kidnappers want is the ransom it’s a ten
billion dollar business growing 12% per
year and it’s not just you that might be
held for ransom it could be your
computer there’s now ransomware you turn
on your computer
here one day and you get a pop-up screen
that says we have taken over your
computer pay us a ransom or we will
never give you access to your data again
250,000 victims have paid over 30
million dollars in ransom increasingly
they’re being told to pay the ransom in
Bitcoin and then there are botnets this
is an online attack where a crook sends
software out and maliciously attacks
your software your computer and uses it
to send spam you ever notice all those
spam emails you’re getting it’s your
computer that might be involved in
sending out that spam and you don’t even
realize it and what about a DOS attack a
denial of service attack a computer
grabs hold of other computers and gets
tens of thousands of them to suddenly go
to a single website all at once 30% of
all personal computers are infected and
involved in this this is how when you
hear news that an airline’s computer
system crashed or a major phone company
system or some other major retailer it’s
because of these denial of service
attacks all designed to shut down the
Internet and then there was the flash
crash may 627 teen also known as the
crash of 2:45 p.m. this is the stock
market’s performance the Dow Jones
Industrial Average on the day of May 6
2010 ordinary day until you see that
huge drop the Dow opened at 10:00 862
that morning it closed at 10:00 5:20 but
look what happened at 2:45 p.m. a 600
point drop and full recovery within
minutes if you were one of the hapless
few in that five-minute period who sold
by sheer coincidence you placed a sell
order at that very moment you lost a
substantial amount of money without any
warning and then there’s the dark side
of mobile technology 21% of fraud cases
involve mobile devices 6 billion dollars
in losses in 2012 they found 67 fake
banking apps a year later 13
rid of them a nineteen hundred percent
increase in 2013 they found four million
malware apps on telephones that was a
six hundred percent increase over the
year earlier antivirus software stops
only five percent of it attackers can
record audio and video from your phone
they can track every keystroke you use
grab all the data on your phone and
forward it they can track your location
in real time in 2015 eleven percent of
americans one out of nine lost money to
phone scams that’s seven and a half
billion dollars of losses there’s the
business listing scam the free vacation
scam the loan scam to survey scam all of
these designed to trick you into sending
your money to a stranger over the
Internet let’s look at the dark side of
AI and machine learning you know Dave
you know this right I’m sorry Dave I
can’t afford to do that that’s how from
2001 a Space Odyssey more recently you
remember Joshua from the movie wargames
can a computer refuse to obey a human
well Stephen Hawking said success in
creating AI would be the biggest event
in human history it might also be the
last unless we learn how to avoid the
Bill Gates says I’m in the camp that’s
concerned about super intelligence and
Elon Musk says AI is our greatest
existential threat
all of these are among the more than 100
scientists who have encouraged new rules
to slow down the development of
artificial intelligence
then there’s AR and VR this is Bruce
Willis in the movie surrogate people
just sitting in a chair or a bed all the
time because their surrogate is
wandering around engaging in life
instead of them a little bit spooky how
about wearables check out the logo if
you can barely see it in this photograph
at the University of Michigan you know
you’re wearing
clothing and we’ve talked earlier about
how clothing as wearable technology can
measure your heart rate and other
physiological data but who owns that
information well at least in the case of
the University of Michigan
Nike owns the data as part of its 170
million dollar deal to provide uniforms
to the University Nike owns the personal
data that it collects from the wearable
technology heart rate monitors GPS
trackers and other sensors like he’s not
saying what they’re gonna do with the
data they’re not saying if the players
will be compensated or even informed in
the future you might buy a shirt but the
manufacturer or retailer might own the
data that it collects about you
speaking of data let’s look at the dark
side of big data we’ve already looked at
all the different ways that your data is
being collected but what about your
brainwaves that data too can be
collected from technology
how about companies that go out of
business due to technology Sweetbriar
the philadelphia inquirer tower records
all of these gone because they couldn’t
keep up technologically how about the
dark side of robotics what happens when
a robot starts making other robots well
a Cambridge they already are the pr2
robot in Germany taught itself how to
make pizza by reading wikiHow Dino it
happens do you know what you get when
you have robots that are capable of
making other robots which are capable of
teaching themselves how to improve do
you know what we call that The
how about the dark side of self-driving
vehicles sdds are going to be highly
disruptive if you have self-driving cars
you don’t need truck drivers anymore
you don’t need cab drivers anymore you
don’t need bus drivers anymore you don’t
need any of these drivers well wait a
minute what does that mean for
people who own all of those taxicab
companies well the price of a medallion
in New York City was a million bucks in
2013 two years later it fell 17 percent
a guy who owns 98 medallions in Chicago
says I’m already at peace with the idea
I’m going bankrupt because we’re not
gonna have cabs anymore in fact if
you’re not gonna have cabs you’re not
gonna have trucks you’re not gonna have
truck stops right if you’re all truck
drivers if you’re not gonna need parking
garage attendants you’re not going to
need valet you’re not going to need
garage attendants you’re not going to
need Tollbooth collectors you’re not
going to need driving schools if
nobody’s driving you’re not going to
need car rental companies because
everybody’s using uber you’re not going
to need public transportation either in
fact you’re not going to need anything
involved in the crash economy you’re not
going to need auto body shops auto paint
shops you’re not gonna need aftermarket
parts manufacturers you’re not going to
need claims adjusters you’re not even
going to need chiropractors think about
that one for a minute 70 percent of the
patients who seek chiropractors have
back injuries sustained from auto
accidents if you don’t have any more
auto accidents you don’t have back
injuries you know need to see a
chiropractor and poof chiropractors are
out of business you don’t need to buy
auto insurance anymore this explains why
Allstate in its recent filing to the sec
said potential technological changes
such as driverless cars could disrupt
the demand for our products and we may
not be able to respond effectively
Cincinnati financial another automobile
insurance company said it gets 25
percent of its revenue from automobile
insurance and disruption of the
insurance market caused by technology
innovations such as driverless cars
could decrease consumer demand for
insurance products Mercury Insurance
Group told the SEC the advent of
driverless cars
usage based insurance could materially
alter the way that auto insurance is
marketed priced and underwritten
travelers said the technology is the
potential to transform consumer demand
the way policies are priced and the
patterns of crash frequency and severity
used to predict risk LKQ which is a
aftermarket manufacturer said if the
number of vehicles involved in accidents
declines or if the number of cars being
repaired declines our business could
suffer this is why in a survey of
insurance industry executives 84 percent
said self-driving vehicles will greatly
impact their business by 2025 and 90% of
them don’t have a strategic plan you
know who else has threatened car wash
companies you know in the old days when
I was a little kid yeah yeah that’s the
old days when I was a little kid it was
routine we would wash the car or we
would go with dad to get the car to the
carwash and without a doubt it would
rain the next day you know it was the
inevitable like when you know what does
the phone ring whenever you get in the
bathtub I mean you know it just these
things happen well today thanks to
better weather prediction capabilities
people don’t go to the carwash if
there’s a prediction of rain tomorrow
this has dramatically reduced the
revenues of car wash companies because
in the old days they benefited from the
rain because the guy who got his car
washed yesterday had to come back
tomorrow to get his car re-washed now
you just wait till tomorrow and you only
get your car washed instead at once
instead of twice so businesses of all
sorts get impacted by these kinds of
technological innovations a lot of folks
didn’t get thrown out of work as a
result of self-driving vehicles it’s not
the first time we’ll have experienced
this look at the number of Americans
working on farms in 1870 half the
country worked on a farm
by 1950 it was down to 18% now it’s less
than 1% of the population working on a
farm excuse me
I don’t think we have 99 percent
unemployment and that’s the point in
other words people migrate to different
occupations sure we used to
I’ll be working on the farms then we all
went to working in the factories and
we’re going to have to go start working
in some other occupation to stay viable
in the marketplace there are some other
issues to consider however one of them
is legal we have the notion of crash
optimization algorithms think about this
your drive in the car you make a
decision of what to do right well if the
computer is driving the car and it
suddenly has a choice does it
swerve right and hit a wall which kills
the occupant does it go left and kill
the motorcyclist or does it go straight
and kill the pedestrian who’s in jumped
in the middle of the road how does the
computer decide who programs the
computer to make that decision and who’s
going to end up in court as a result of
it is it the owner of the car is it the
Builder or the car is it the
manufacturer of the lidar system is it
the occupant of the car where does the
liability rest and then there are
computer viruses you know there’s a very
famous used car center in Texas called
the Auto Center and they’re famous for
their policy no matter if you have good
credit bad credit bankruptcy
repossession no credit at all we’ll sell
you a car why would they be willing to
sell a car to literally anybody because
the fear of course is that they sell
some in a car they provide them the loan
to do it and then that person doesn’t
pay off why would they be willing to do
this it’s real simple because they
install a chip in the car and if you
don’t make your monthly payment they
activate the chip and it deactivates
your car you can’t start it basically
turns your car into a brick now it
doesn’t do this if you’re driving it
waits until the car is parked and turned
off for safety purposes
but it’s a brilliant idea
technologically this way they’re willing
to say we’ll sell you the car but you do
need to pay us or you don’t
have a car to drive we’ll pick it up you
know because we know where it is with
GPS technology and we’ve turned off the
ignition brilliant idea and has made the
company very successful but one day a
disgruntled former employee accessed
their computer system hacked it and
bricked hundreds of cars of their
customers people who hadn’t done
anything wrong
walked out of their homes and suddenly
discovered their car wouldn’t start it
was pretty embarrassing for the company
when that happened let’s take it a step
further could police commandeer your car
and take you directly to jail might your
car take you directly to jail might your
car finger you as being a guilty party
the first incident of that happened in
2016 a Ford tattled on its owner she was
engaged in a hit-and-run accident she
hit someone left the scene but the car
had technology to automatically call
police in the event of an accident it
did when the police called her to see if
she was okay she didn’t answer the phone
they went to the accident scene led
there by the GPS system discovered the
accident and then were able to track her
down first incident of an individual
turned into police by their car well
tinkerers be able to continue tinkering
with their car well car enthusiasts
continue to enjoy their hobby if we’re
engaging in nothing but self-driving
cars by 2030 it’s predicted most current
automakers will be replaced by new
startups think that’s crazy Tesla didn’t
exist 10 years ago it now has a larger
market value than General Motors and
there’s one item you probably are going
to need in your self-driving car
it’s a barf bag 6 out of 10 passengers
get motion sick sitting in a
self-driving car
let’s talk about the dark side of bionics
we have already talked about the fact
that parents are happy to provide tutors
for their kids and to what extent will
parents go beyond this to provide
advantages to their children while
they’re still in vitro will you provide
your child with higher IQ better
attractive features as society deems
them attractive features that make you
taller or prettier or faster to what
degree are parents going to engage in
this a simple question is this man
disabled all right we know that this guy
is in prison for murder so we know he’s
a jerk but at that aside is he disabled
I mean I my attitude when he went into
the Olympics was why don’t we just put
Rockets under his legs and catapult him
to the finish line I mean at what point
do you draw the line between human and
machine well
Star Trek answered that question a
number of years ago let’s talk about
nanotech Ernst and Young did a story on
nanotechnology and they said you know we
really don’t know yet what the potential
liability injury and environmental
damage is if nanoparticles escaped into
the air or water
how about 3d printing well here’s a
plastic gun made by a 3d printer here
are plastic handcuff keys
none of this detectable by metal
detectors here are fake purses and
handbags these aren’t real goods these
are fakes but they’re made with 3d
printers basically stealing the
intellectual property of the companies
that had created those designs and you
know back in the day when we used to
play with chemistry sets and the
basements of our parents homes the most
dangerous thing we ever made was a
volcano right baking soda and vinegar
and you know what
well kids today can play with electric
electronic circuits and who knows what
they’re able to build and you have to
wonder what might a teenage boy who’s
been bullied or a lovestruck teenager do
with the technology that they’re capable
of creating in their parents garage then
there’s the dark side of medicine you
know it’s really good news that people
are gonna live to a ripe old age live
very healthy into their 80s 90s hundreds
and so on well here’s Brian reader and
Great Britain age 76 he looks like he’s
in really good health doesn’t me he’s in
such good health he was able to tunnel
into a bank vault yeah he and seven
other guys were able to engage in a
multi-million dollar robbery the
youngest was 72 the one thing they said
to police when they were finally caught
they had to make frequent stops in their
getaway because one of them had a weak
South Korea has seen a dramatic increase
in the number of men of crime by people
over the age of 65 a 12% increase over a
2-year period on a 40% increase in
violent crime in Japan crime by people
over 65 doubled over the 10-year period
o 3 to 13 the elderly in Japan now
account for more shoplifting than
teenagers do in the Netherlands there’s
been a sharp rise in arrests and
incarceration of elderly people in
London people over the age of 65 arrests
have risen 10% from oh 9 to 2014 elderly
prison inmates are increasing 3 times
faster than the overall prison
population is it possible that someone
could take bird flu and weaponize it is
it possible that someone could take a
personalized cancer treatment and turn
it into a bio threat is bioterrorism
next and I’m not just referring to that
kid in his basement who thinks everybody
hates them in the world is against him
and I’m not just talking about North
Korea which
heaven forbid would perhaps engage in a
bioterrorist attack what about something
well-intentioned that goes wrong
somebody who is literally trying to make
a cure for cancer but instead unleashes
something that kills millions of people
it’s not bioterrorism that is a
potential threat but bio error ISM that
we have to worry about as well one
prominent scientist in London says that
over the next ten years there will be an
incidence of bio terrorism or terrorism
that will kill two million people we’re
hoping he’s wrong and then there’s the
dark side of energy and environmental
systems we now have products that are
being manufactured through
nanotechnology material science are we
sure that we know the long-term effects
on the environment of all of these
products and how about the dark side of
crowdfunding and crowdsourcing 90% of
consumers say they’re influenced by
online reviews and 70% say they trust
online reviews as much as they trust
their friends reviews but 25% of the
reviews on Yelp are fake
2% of all the accounts on Facebook are
fake that’s the equivalent of the
population of New York State on Facebook
you can buy a hundred thousand fans for
1,500 bucks on Twitter you can get four
thousand followers for five dollars
GoFundMe we talked about this earlier to
help where you raise money for a
charitable cause or for a local child
who needs cancer treatments they charge
a five percent fee to raise money plus a
two point nine percent processing fee
plus a three cents per donation fee you
might be better off raising the money
some other way and then there are flash
take a look at this video
that’s a pretty amazing video the
advantage of this is people have no idea
who each other are they just went to a
common website that said at
such-and-such date go to so-and-so store
grab what you can in 90 seconds even if
one of them is caught they literally
don’t know who the other perpetrators
are flash Rob’s are increasingly common
not only in big cities but small towns
as well we talked about the advantages
of the sharing economy the rise of the
on-demand worker but contingent workers
have no traditional job protections they
have no unemployment insurance no
workers comp they have no pension plan
no liability safeguards of any kind
how about gamification well you know
it’s really wonderful to get people to
do something in an effort to win a prize
but when it goes bad you end up with
something like Wells Fargo where they
had a program called 8 is great where
they required the people in their bank
branches to cross-sell lots of products
resulting in horrific sales practices
they ended up firing 5300 bankers at
6300 of their branches they paid a
hundred eighty five million dollar fine
facing dozens of federal and state
investigations and lawsuits and they’re
not the only company that has done
something like this
Volkswagen they’re engineers installed
software to improve the emissions test
scores to make the cars look better gas
mileage than they really were they ended
up paying about fifteen billion dollars
in fines they’re facing criminal charges
and thousands of lawsuits around the
world that’s the downside of
gamification how about mobile banking
well you love the idea of free Wi-Fi
hotspots you get them in airports and
public places all over the place except
that people can hack into your phone in
those public spots they can access
everything you’re transmitting over that
public Wi-Fi spot so you’ve got to be
very very careful and then there are the
guys who simply stand back a couple of
feet when you’re at an ATM they look
over your shoulder at the PIN number
that you’re typing in they lift your
wallet they have your card and access to
your bank account and then there’s
something weird from mobile banking
called double presentment you know
here’s what happens you know the old way
you get a cheque from somebody you sign
the back of the cheque you take it to
the bank you deposit the cheque you
present the check to the bank you only
do it once because you hand them the
cheque you never see it again
but in double presentment it works
differently you no longer go to the bank
to make a deposit
instead nowadays you simply take a
photograph of the back of the cheque
right and you electronically send it to
the bank but you still have the cheque
so what do you do you deposit it a
second time this is called double
presentment the bank ends up cashing
that check twice or you think you have
twice as much money in your account as
you really do crooks use it to get
people to pay them twice because they
double present the cheque you’ve given
them or honest innocent people result in
over draws because they don’t have as
much money in the bank as they thought
they did double presentment is a real
problem with mobile banking and then
there’s digital currency well here’s the
price of Bitcoin over a several year
period that is as volatile as the most
volatile of all stocks and that’s not
good if you’re trying to and use this to
purchase goods and services what’s the
value of a Bitcoin in any given day
that’s a bit of a problem there are also
tax implications with Bitcoin I
mentioned earlier in a different video
that the IRS considers Bitcoin to be
property which means if you use Bitcoin
to purchase something you’re actually
selling an asset and if you are selling
the Bitcoin for more than you paid you
have a capital gain you have to report
the transaction on your schedule D on
your tax return I wonder how many people
know that or are actually following the
rules and then there’s the safety of
your Bitcoin you’re keeping your Bitcoin
in an account online with a custodian is
your custodian safe might a hacker
access your account
some years ago mount GOx at the time the
largest Bitcoin custodian was hacked and
four hundred million dollars with a big
were lost then there’s an anti inflation
element to the economy going digitally
if we don’t have an inflationary
environment that actually could lead to
deflation and deflation is what a
depression is all about the last one we
saw in the 1930s so as we experienced
demonetization as everything gets cheaper
and cheaper look at your smartphone you
have dozens of products and features and
services and benefits in your smartphone
for free that people used to pay for
well that’s bad news if you used to be
somebody who makes a living selling maps
right so demonetization can create
deflation which can lead to depression
perhaps like we saw in the 1930s and how
about the dark side of the blockchain
itself the Department of the Treasury
and the financial stability Oversight
Council both say that the blockchain is
a significant risk to financial
stability it’s the end of financial
privacy and there’s a risk of what they
call a 51% attack I mentioned earlier
that the blockchain is so safe because
as a public ledger it cannot be
duplicated it cannot be altered it
cannot be deleted unless one person
controls 51% of the blockchain if one
person has a dominant control they can
do whatever they want to it now the
likelihood of that happening is very
remote this is after all a global based
system but theoretically there is a risk
of a 51% attack and if all the world’s
financial system is relying on this
digital currency and that attack occurs
the world’s economic marketplace
collapses and how about the dark side of
investments well the best way I can
explain it to you is Kodak 1996 Kodak is
135 years old
it’s one of the best brands on the
planet 140,000 employees 28 billion
dollars in value by 2012 the company
files bankruptcy what what happened from
1996 to 2012 what happened the
smartphone happened and we stopped
buying film we started taking digital
photographs in the old days you had to
buy a roll of film 12 images you had to
be really careful which photos you took
because you only had 12 you had to pay
for that roll of film and then you had
to take the roll of film and pay to have
it developed you had to wait several
days they only gave you one copy of the
photograph today with digital
photography you can take as many photos
as you want they’re all free you see
them instantly you can share them with
the entire world immediately Kodak
couldn’t compete the year Kodak went
broke 2012 Instagram 18 months old 13
employees was sold for a billion dollars
using digital photography invented by
Kodak could I couldn’t make the shift it
was too engrained with its factories and
operations in the making and distribute
distribution and production of film it
couldn’t make the leap to digital this
is disruption and this is what happens
with technological innovation companies
that were built for the 20th century as
David rose aptly described it are doomed
to failure in the 21st century and Kodak
is a wonderful illustration disruption
destroys companies Tower Records was
killed by iTunes borders books destroyed
by Amazon Blockbuster killed by Netflix
myspace undone by Facebook classified
ads killed by pretty much everybody
when’s the last time you had an
encyclopedia salesman knock on your door
selling you a subscription no it’s all
free now on Wikipedia and Google see
there’s nothing new about this the horse
and buggy were destroyed by the Model T
and the automobile assembly line look at
high-end hotels founded in 1957 45,000
employees a hundred and fifty-five
thousand rooms in 54 countries a market
value of 8 billion dollars
compare that to Airbnb a company founded
in 2008 only 1,300 employees but they
have over a million rooms in 34,000
cities with a market value of 24 billion
dollars a 20th century company compared
to a 21st century company Quicken Loans
is now the second largest mortgage
lender in the United States doesn’t have
a single branch bill Emerson the CEO
says we’re a technology and marketing
company that happens to do mortgages
Elon Musk of Tesla says the Model S is
not a car it’s a sophisticated computer
on wheels I was talking with another
technologist he said that quote is wrong
Elon is wrong the Model S is not a
sophisticated computer on wheels they
download software on a regular basis
it’s an app it’s not even software you
see the average lifespan of a company is
now dramatically shortening back in 1920
the average company in the S&P 500
lasted 65 years today
they last for less than 15 by 2025
according to the Olin Graduate School of
Business 40% of the S&P 500 will not
exist a survey two years ago of the
fortune 500 CEOs the question was simple
what is your company’s greatest
challenge 72% said the rapid pace of
technological innovation who’s at risk
life insurers annuity marketers
disability insurers long-term care
insurers auto insurers the entire auto
industry the entire crash economy
colleges and
the energy sector muni bonds banks and
brokerages real estate they’re all at
risk let’s take a look at safety and
security’s dark side your hotel room can
easily be hacked because they aren’t
keys anymore they’re now electronic
cards your baby monitor can be hacked by
somebody driving by your blood soup
glucose monitor can be hacked your
thermostat can be hacked when you’re
cooking uh making a cup of coffee the
data in that coffee pot belongs to the
coffee pot manufacturer they know when
you’re making coffee how much coffee
you’re making what are they doing with
the data hackers can get ahold of your
office fax and photocopier machine
caused it to overheat and start a fire
the police are capable of using
algorithms to predict who’s going to
commit a crime that’ll just have to wait
for the crime to happen they can do it
in advance they look at friendships
social media we showed you all this in a
prior video drug use of arrest records
employment status do you have family or
friends who have been killed who are in
prison or are in gangs that makes you
potentially more likely to commit a
crime yourself and they can approach you
before the crime is even committed in an
effort to get you involved in a
rehabilitation program in North Dakota
the police are using drones and they’ve
weaponized them the drones now have the
ability to use Tasers tear gas pepper
spray and rubber bullets will they
eventually permit real bullets will the
military one day give the kill decision
to a robot some people say it’s
inevitable the Pentagon says absolutely
not it is always a human that makes the
decision to drop the bomb or fire the
weapon but if your robot is carrying an
m16 and you’re facing the enemy’s robot
which is carrying a machine gun do you
have the time to wait you might not have
a choice but to allow your robot to fire
first on its own algorithm
lie-detection is coming as well because
of fMRI machines where they can detect
brainwave patterns they know whether or
not you’re lying will that be allowed to
be used in a court of law
right now you have Fifth Amendment
protections but you can be compelled to
give your DNA your blood tissue sample
will they be allowed to require your
brain scan and picture this not just in
a court of law but in your living room
if your spouse says to you are you lying
to me have you ever lied to me personal
privacy may be changing in ways we’ve
never even begun to think and finally
the darkest side of all Luddites let’s
get their name from the 1800s in England
where the introduction of looms into the
textile mills threatened Weaver’s they
were so upset about the loss of their
jobs that they destroyed these looms in
an effort to protect their jobs credited
with a gentleman by the name of Lud and
they over the years came to be known as
Luddites Luddites are people it is
regarded of those who hate technology
and who hate the advancement of
Technology here’s one illustration
firemen that guy doesn’t look like a
fireman does he well this is what a
fireman used to look like a hundred
years ago in a locomotive firemen were
the guys in the locomotive who kept the
trains moving kept the coal going they
created the fires rather than putting
them out and when locomotives became
diesel and electric you really didn’t
need the fireman anymore
it took sixty-five years for the
locomotive and railroad companies to be
able to fire the fireman because of job
protection can
turns by members of Congress look at it
today we’re seeing global demonstrations
in countries throughout Europe South
America and here in the United States
these are taxi drivers who have blocked
major interstate highways they’ve done
this in Brazil in France in Italy and in
the United States blocking airports as
well as a protest against uber because
these cab drivers are acknowledging that
they’re losing business and their
livelihood to this new technology does
anybody care other than the cab drivers
if you’re able to get a faster ride a
more enjoyable ride at a lower cost it
seems that nobody cares about the threat
to taxi drivers except those in the taxi
cab business and how about this
organization called consumers for paper
options they want mutual funds to
discontinue emailing shareholder reports
and other information to investors they
want the IRS to distribute all tax forms
via paper they want the Social Security
Administration to stop using direct
deposit and to resume the mailing of
checks who are the people who are
members of the consumers for paper
options it’s the American forest and
paper Association the envelope
Manufacturers Association the National
Association of letter carriers the
National Rural letter carriers
Association these industries and the
companies that are within them are
threatened by email and they’re trying
to have us move back to the Stone Age
and then there’s Car and Driver magazine
which wrote in an editorial in July of
2016 the fully automated car will never
really are they pandering to their
readership or do they actually believe
what they’re saying
these represent the dark sides of
Technology we have to recognize that
technology is capable of doing things
but will American consumers allow it to
happen are they threatened economically
by the elimination of their job do they
fear the freedoms that they may lose are
they afraid of the dangers that may lurk
that could cause technological
innovation to be slowed down will they
demand LED legislation or regulation
that curtails scientific innovation this
is why the darkest side of all are the
Luddites in our society and that is the
truth about your future that’s it for
this video I’m sure you’re happy we’re
finished with it in our next video we’ll
start our tour of how all these
exponential technologies impact your
personal finances we start by examining
how you need to plan for the future your
financial plan is probably fatally
flawed because it’s assuming things that
aren’t going to prove accurate or
relevant for your life and you’ll see
why you need not one plan but three
financial plans one for now one for
and one for much later this series is
based on my New York Times bestseller
the truth about your future the money
guide you need now later and much later
if at any point you have any questions
you can send them to me by visiting thanks for