Office Hours: Robo-advisors, Team Design, and the Consequences of Innovation

Crypto Disruption

Sara Beckman and Scott Galloway explore the disruptive potential of cryptocurrency and blockchain technology. Sara questions whether crypto is truly the innovation that will disrupt the financial industrial complex or if it's overhyped, creating problems that don't need solving 1. She emphasizes the importance of understanding the broader applications of blockchain beyond just crypto, such as its role in ransomware and other behaviors reminiscent of a "Black Mirror" episode 1.

It's certainly playing a role. It's playing a role in ransomware. It's playing a role in all kinds of behaviors that probably belong in a black mirror episode.

--- Sara Beckman

Scott admits to understanding crypto better than most, yet still finds it perplexing, highlighting the complexity and potential overhype surrounding the technology 1.

   

Dystopian Tech

The conversation shifts to the potentially dystopian future of technology, drawing parallels with cultural references like "Black Mirror." Sara Beckman uses this analogy to question the introduction of technology for its own sake, emphasizing the need to consider the repercussions of such innovations 2. She argues that technologies like blockchain should be evaluated based on the outcomes they aim to achieve, such as renewable energy distribution or carbon offsets 2.

We introduce these technologies because they seem awesome in the moment, but they have repercussions.

--- Sara Beckman

Scott Galloway adds that while self-driving cars promise efficiency, they also pose risks like job loss and security threats, illustrating the complex dynamics of technological advancements 2.

   

Environmental Impact

Blockchain's potential to address environmental issues is a focal point of the discussion. Sara Beckman highlights blockchain's dual nature, acknowledging its negative environmental impact due to high energy consumption while also recognizing its potential to foster trust, efficiency, and security in solutions like food supply provenance and peer-to-peer renewable energy distribution 3. She stresses the importance of aligning technology with environmental goals, rather than adopting it blindly 3.

Looking at the other side of this double-edged sword, the shared technology enabler allows for greater trust, efficiency, and security of solutions.

--- Sara Beckman

Scott Galloway compares the debate over crypto's environmental impact to a "religious war," with arguments on both sides about its role in energy consumption and alternative energy development 3.