WEBVTT 00:00:00.117 --> 00:00:04.029 So this is Anna Hazare, 00:00:04.029 --> 00:00:07.967 and Anna Hazare may well be the most cutting-edge 00:00:07.967 --> 00:00:10.914 digital activist in the world today. 00:00:10.914 --> 00:00:12.452 And you wouldn't know it by looking at him. 00:00:12.452 --> 00:00:18.099 Hazare is a 77-year-old Indian anti-corruption and social justice activist. 00:00:18.099 --> 00:00:21.970 And in 2011, he was running a big campaign 00:00:21.970 --> 00:00:24.650 to address everyday corruption in India, 00:00:24.650 --> 00:00:27.521 a topic that Indian elites love to ignore. 00:00:27.521 --> 00:00:29.103 So as part of this campaign, 00:00:29.103 --> 00:00:31.025 he was using all of the traditional tactics 00:00:31.025 --> 00:00:33.591 that a good Ghandian organizer would use. 00:00:33.591 --> 00:00:35.297 So he was on a hunger strike, 00:00:35.297 --> 00:00:38.112 and Hazare realized through his hunger 00:00:38.112 --> 00:00:40.029 that actually maybe this time, 00:00:40.029 --> 00:00:41.345 in the 21st-century, 00:00:41.345 --> 00:00:43.234 a hunger strike wouldn't be enough. 00:00:43.234 --> 00:00:47.566 So he started playing around with mobile-activism. 00:00:47.566 --> 00:00:49.013 So the first thing he did, he said to people, 00:00:49.013 --> 00:00:51.314 "why don't you send me 00:00:51.314 --> 00:00:53.295 a text message if you support 00:00:53.295 --> 00:00:54.815 my campaign against corruption?" 00:00:54.815 --> 00:00:56.854 So he does this, he gives people a short code, 00:00:56.854 --> 00:00:59.720 and about 80,000 people do it. 00:00:59.720 --> 00:01:01.438 Okay, that's pretty respectable. 00:01:01.438 --> 00:01:02.375 But then he decides, 00:01:02.375 --> 00:01:04.495 "let me tweak my tactics a little bit." 00:01:04.495 --> 00:01:08.970 He says, "why don't you leave me a missed call?" 00:01:08.970 --> 00:01:12.039 Now, for those of you who have lived in the global south, 00:01:12.039 --> 00:01:13.531 you'll know that missed calls 00:01:13.531 --> 00:01:16.964 are a really critical part of global mobile culture. 00:01:16.964 --> 00:01:18.488 I see people nodding. 00:01:18.488 --> 00:01:20.596 People leave missed calls all the time: 00:01:20.596 --> 00:01:22.542 If you're running late for a meeting 00:01:22.542 --> 00:01:24.848 and you want to let them know that you're on the way, 00:01:24.848 --> 00:01:26.571 you leave them a missed call. 00:01:26.571 --> 00:01:28.977 If you're dating someone and you just want to say "I miss you" 00:01:28.977 --> 00:01:30.303 you leave them a missed call. 00:01:30.303 --> 00:01:32.427 So a note for a dating tip here, 00:01:32.427 --> 00:01:33.552 in some cultures, 00:01:33.552 --> 00:01:35.284 if you want to please your lover, 00:01:35.284 --> 00:01:39.685 you call them and hang up. 00:01:39.685 --> 00:01:43.140 So why do people leave missed calls? 00:01:43.140 --> 00:01:44.140 Well, the reason of course is that 00:01:44.140 --> 00:01:47.238 they're trying to avoid charges 00:01:47.238 --> 00:01:50.794 associated with making calls and sending texts. 00:01:50.794 --> 00:01:54.320 So when Hazare asked people to leave him a missed call, 00:01:54.320 --> 00:01:59.997 let's have a little guess how many people actually did this? 00:01:59.997 --> 00:02:03.935 35 million. 00:02:03.935 --> 00:02:07.988 So this is one of the largest coordinated actions in human history. 00:02:07.988 --> 00:02:09.212 It's remarkable. 00:02:09.212 --> 00:02:14.072 And this reflects the extraordinary strength of the emerging Indian middle class, 00:02:14.072 --> 00:02:16.894 And the power that their mobile phones bring. 00:02:16.894 --> 00:02:18.269 But he used that, 00:02:18.269 --> 00:02:21.598 Hazare needed up with this massive csv file of mobile phone numbers, 00:02:21.598 --> 00:02:24.273 and he used that to deploy 00:02:24.273 --> 00:02:26.269 real people-power on the ground 00:02:26.269 --> 00:02:29.683 to get hundreds of thousands of people on the streets in Dehli 00:02:29.683 --> 00:02:34.353 to make a national point of everyday corruption in India. 00:02:34.353 --> 00:02:36.850 It's a really striking story. 00:02:36.850 --> 00:02:38.810 So this is me when I was 12-years-old, 00:02:38.810 --> 00:02:40.582 I hope you see the resemblance, 00:02:40.582 --> 00:02:42.317 and I was also an activist, 00:02:42.317 --> 00:02:44.557 and I have been an activist all my life. 00:02:44.557 --> 00:02:46.167 I had this really funny childhood 00:02:46.167 --> 00:02:47.910 where I [tropsed?] around the world 00:02:47.910 --> 00:02:51.134 meeting world leaders and Noble Prize winners 00:02:51.134 --> 00:02:53.250 talking about third-world debt, 00:02:53.250 --> 00:02:54.189 as it was then called, 00:02:54.189 --> 00:02:56.103 and demilitarization, 00:02:56.103 --> 00:03:00.475 I was a very, very serious child. 00:03:00.475 --> 00:03:02.210 And back then, 00:03:02.210 --> 00:03:03.684 in the early 90s, 00:03:03.684 --> 00:03:07.214 I had very cutting-edge tech-tool of my own: 00:03:07.214 --> 00:03:09.466 the fax. 00:03:09.466 --> 00:03:11.854 And the fax was the tool of my activism. 00:03:11.854 --> 00:03:13.362 And at that time, it was the best way 00:03:13.362 --> 00:03:15.097 to get a message to a lot of people 00:03:15.097 --> 00:03:16.645 all at once. 00:03:16.645 --> 00:03:20.161 I'll give you one example of a fax campaign that I ran. 00:03:20.161 --> 00:03:22.077 It was the eve of the Gulf War 00:03:22.077 --> 00:03:25.628 and I organized a global campaign to flood the hotel, 00:03:25.628 --> 00:03:27.109 the Intercontinental in Geneva, 00:03:27.109 --> 00:03:29.064 where [name] and [name] 00:03:29.064 --> 00:03:30.808 were meeting on the eve of the war, 00:03:30.808 --> 00:03:33.152 and I thought that if I could flood them with faxes, 00:03:33.152 --> 00:03:34.370 we'll stop the war. 00:03:34.370 --> 00:03:36.423 Well, unsurprisingly, 00:03:36.423 --> 00:03:40.054 that campaign was wholly unsuccessful. 00:03:40.054 --> 00:03:41.488 There are lots of reasons for that, 00:03:41.488 --> 00:03:44.193 but there's no doubt that one sputtering fax machine 00:03:44.193 --> 00:03:47.300 in Geneva was a little bit of a bandwidth constraint 00:03:47.300 --> 00:03:50.502 in terms of the ability to get a message to lots of people. 00:03:50.502 --> 00:03:54.172 And so, I went on to discover some better tools. 00:03:54.172 --> 00:03:57.084 I co-founded Avaaz that uses the internet to mobilize people 00:03:57.084 --> 00:03:59.412 and now has almost 40 million members, 00:03:59.412 --> 00:04:01.972 and I now run Purpose, which is a home for these kinds of 00:04:01.972 --> 00:04:04.268 technology-powered movements. 00:04:04.268 --> 00:04:06.088 So what's the moral of this story? 00:04:06.088 --> 00:04:07.356 Is the moral of this story, 00:04:07.356 --> 00:04:12.705 "you know what, the fax is kind of eclipsed by the mobile phone? 00:04:12.705 --> 00:04:14.935 This is another story of tech-determinism?" 00:04:14.935 --> 00:04:18.585 Well, I would argue that there's actually more to it than that. 00:04:18.585 --> 00:04:20.798 I'd argue that in the last 20 years, 00:04:20.798 --> 00:04:23.386 something more fundamental has changed 00:04:23.386 --> 00:04:25.021 than just new tech. 00:04:25.021 --> 00:04:27.561 I would argue that there has been a fundamental shift 00:04:27.561 --> 00:04:30.339 in the balance of power 00:04:30.339 --> 00:04:31.348 in the world. 00:04:31.348 --> 00:04:33.629 You ask any activist how to understand the world, 00:04:33.629 --> 00:04:34.465 and they'll say, 00:04:34.465 --> 00:04:35.979 "look at where the power is, 00:04:35.979 --> 00:04:37.397 who has it, 00:04:37.397 --> 00:04:38.756 how it's shifting?" 00:04:38.756 --> 00:04:41.339 I think we all sense that something big is happening. 00:04:41.339 --> 00:04:43.523 So Henry Timms and I, 00:04:43.523 --> 00:04:45.371 Henry's a fellow movement builder, 00:04:45.371 --> 00:04:47.273 got talking one day and we started to think, 00:04:47.273 --> 00:04:49.274 "how can we make sense of this new world, 00:04:49.274 --> 00:04:50.923 how can we describe it and give 00:04:50.923 --> 00:04:53.286 it a framework that makes it more useful?" 00:04:53.286 --> 00:04:54.136 Because we realize that many 00:04:54.136 --> 00:04:56.950 of the lessons that we were discovering in movements 00:04:56.950 --> 00:04:59.657 actually applied all over the world 00:04:59.657 --> 00:05:01.919 in many sectors of our society. 00:05:01.919 --> 00:05:03.656 So I want to introduce you to this framework: 00:05:03.656 --> 00:05:05.876 Old power, meet new power. 00:05:05.876 --> 00:05:09.307 And I want to talk to you about what new power is today. 00:05:09.307 --> 00:05:11.451 New power is the deployment 00:05:11.451 --> 00:05:14.460 of mass participation and peer coordination, 00:05:14.460 --> 00:05:16.102 these are the two key elements, 00:05:16.102 --> 00:05:18.599 to create change and shift outcomes. 00:05:18.599 --> 00:05:21.687 And we see new power all around us. 00:05:21.687 --> 00:05:23.411 This is Beppe Grillo 00:05:23.411 --> 00:05:25.116 he was a populist Italian blogger 00:05:25.116 --> 00:05:28.536 who with a minimal apparatus and only some online tools, 00:05:28.536 --> 00:05:31.434 won more than 25 percent of the vote 00:05:31.434 --> 00:05:33.455 in recent Italian elections. 00:05:33.455 --> 00:05:35.257 This is air b&b, 00:05:35.257 --> 00:05:36.566 which, in just a few years, 00:05:36.566 --> 00:05:38.728 radically disrupted the hotel industry 00:05:38.728 --> 00:05:42.446 without owning a single square-foot of real estate. 00:05:42.446 --> 00:05:43.421 This is Kickstarter, 00:05:43.421 --> 00:05:45.898 which we know has raised over a billion dollars 00:05:45.898 --> 00:05:48.319 from more than 5 million people. 00:05:48.319 --> 00:05:50.529 Now, we're familiar with all of these models. 00:05:50.529 --> 00:05:53.450 But what's striking is the commonalities, 00:05:53.450 --> 00:05:55.576 the structural features of these new models 00:05:55.576 --> 00:05:57.725 and how they differ from old power. 00:05:57.725 --> 00:05:59.394 Let's look a little bit at this. 00:05:59.394 --> 00:06:02.552 Old power is held like a currency. 00:06:02.552 --> 00:06:04.921 New power works like a current. 00:06:04.921 --> 00:06:07.033 Old power is held by a few. 00:06:07.033 --> 00:06:10.823 New power isn't held by a few, it's made by many. 00:06:10.823 --> 00:06:13.310 Old power is all about download, 00:06:13.310 --> 00:06:14.896 and new power uploads. 00:06:14.896 --> 00:06:16.540 And you see a whole set of characteristics 00:06:16.540 --> 00:06:17.418 that you can trace, 00:06:17.418 --> 00:06:19.386 whether it's in media or politics, 00:06:19.386 --> 00:06:20.828 or in education. 00:06:20.828 --> 00:06:22.182 So we've talked a little bit about 00:06:22.182 --> 00:06:22.760 what new power is, 00:06:22.760 --> 00:06:26.007 let's talk for a second about what new power isn't. 00:06:26.007 --> 00:06:29.753 New power is not your Facebook page. 00:06:29.753 --> 00:06:32.208 I assure you that having a social media strategy 00:06:32.208 --> 00:06:33.026 can enable you to do 00:06:33.026 --> 00:06:34.735 just as much download 00:06:34.735 --> 00:06:37.818 as you used to do when you had the radio. 00:06:37.818 --> 00:06:41.146 Just as Syrian dictator Bashar Al-Asad, 00:06:41.146 --> 00:06:42.888 I assure you that his Facebook page 00:06:42.888 --> 00:06:47.245 has not embraced the power of participation. 00:06:47.245 --> 00:06:50.413 New power is not inherently positive. 00:06:50.413 --> 00:06:52.702 In fact, this isn't an normative argument that we're making, 00:06:52.702 --> 00:06:54.514 there are many good things about new power, 00:06:54.514 --> 00:06:56.331 but it can produce bad outcomes. 00:06:56.331 --> 00:06:58.336 More participation, more peer coordination 00:06:58.336 --> 00:07:00.393 sometimes distorts outcomes 00:07:00.393 --> 00:07:01.618 and there are some things, 00:07:01.618 --> 00:07:03.297 like things, for example, in the medical profession 00:07:03.297 --> 00:07:06.293 that we want new power to get no where near. 00:07:06.293 --> 00:07:09.666 And thirdly, new power is not the inevitable victor. 00:07:09.666 --> 00:07:11.175 In fact, unsurprisingly, 00:07:11.175 --> 00:07:13.864 as many of these new power models get to scale, 00:07:13.864 --> 00:07:16.334 what you see is this massive push-back 00:07:16.334 --> 00:07:18.083 from the forces of old power. 00:07:18.083 --> 00:07:20.672 Let's look at this really interesting epic struggle 00:07:20.672 --> 00:07:24.879 going on right now between Edward Snowden and the NSA. 00:07:24.879 --> 00:07:25.945 You'll note that only that 00:07:25.945 --> 00:07:27.319 only one of the two people on this slide 00:07:27.319 --> 00:07:29.238 is currently in exile. 00:07:29.238 --> 00:07:30.843 And so, it's not at all clear 00:07:30.843 --> 00:07:32.893 that new power will be the inevitable victor. 00:07:32.893 --> 00:07:35.686 That said, keep one thing in mind: 00:07:35.686 --> 00:07:38.575 We're at the beginning of a very steep curve. 00:07:38.575 --> 00:07:40.216 So you think about some of these new power models, right? 00:07:40.216 --> 00:07:42.328 These were just like someone's 00:07:42.328 --> 00:07:44.874 garage idea a few years ago, 00:07:44.874 --> 00:07:48.010 now they're disrupting entire industries. 00:07:48.010 --> 00:07:50.679 And so, what's interesting about new power, 00:07:50.679 --> 00:07:52.695 is the way it feeds on itself. 00:07:52.695 --> 00:07:54.719 Once you have an experience of new power, 00:07:54.719 --> 00:07:56.909 you tend to expect and want more of it. 00:07:56.909 --> 00:07:59.789 So let's say you've used a peer-to-peer lending platform 00:07:59.789 --> 00:08:02.323 like Lending Tree or Prosper, 00:08:02.323 --> 00:08:04.607 then you've figured out that you don't need the bank, 00:08:04.607 --> 00:08:06.544 and who wants the bank, right? 00:08:06.544 --> 00:08:08.982 And so, that experience tends to embolden you 00:08:08.982 --> 00:08:11.919 it tends to make you want more participation 00:08:11.919 --> 00:08:14.444 across more aspects of your life. 00:08:14.444 --> 00:08:15.809 And what this gives rise to is 00:08:15.809 --> 00:08:17.640 a set of values. 00:08:17.640 --> 00:08:19.100 We talked about the models 00:08:19.100 --> 00:08:20.284 that new power has engendered, 00:08:20.284 --> 00:08:22.116 the air b&bs, the kick starters, 00:08:22.116 --> 00:08:23.645 what about the values? 00:08:23.645 --> 00:08:25.315 And this is an early sketch 00:08:25.315 --> 00:08:27.878 of what new power values look like. 00:08:27.878 --> 00:08:31.339 New power values prize transparency above all else. 00:08:31.339 --> 00:08:33.231 It's almost a religious belief in transparency 00:08:33.231 --> 00:08:35.915 that if you shine a light on something, 00:08:35.915 --> 00:08:37.036 it will be better. 00:08:37.036 --> 00:08:38.386 And remember that in the 20th-century, 00:08:38.386 --> 00:08:39.849 this was not at all true. 00:08:39.849 --> 00:08:42.643 People thought that gentlemen should sit behind closed doors 00:08:42.643 --> 00:08:44.925 and make comfortable agreements. 00:08:44.925 --> 00:08:48.330 New power values informal, networked governance. 00:08:48.330 --> 00:08:51.464 New power folks would have invented the UN today, 00:08:51.464 --> 00:08:52.807 for better or worse. 00:08:52.807 --> 00:08:55.042 New power values participation, 00:08:55.042 --> 00:08:56.085 and new power is all about 00:08:56.085 --> 00:08:57.587 "do it yourself." 00:08:57.587 --> 00:08:58.966 In fact, what's interesting about new power 00:08:58.966 --> 00:09:02.519 is that it eschews some of the professionalization 00:09:02.519 --> 00:09:03.994 and specialization that was 00:09:03.994 --> 00:09:06.474 all the rage in the 20th-century. 00:09:06.474 --> 00:09:08.194 So what's interesting about these 00:09:08.194 --> 00:09:10.160 new power values and these new power models 00:09:10.160 --> 00:09:12.675 is what they mean for organizations. 00:09:12.675 --> 00:09:14.503 So we've spent a bit of time thinking 00:09:14.503 --> 00:09:17.749 "how can we plot organizations 00:09:17.749 --> 00:09:19.873 on a 2x2 where, essentially 00:09:19.873 --> 00:09:21.549 we look at new power values 00:09:21.549 --> 00:09:22.813 and new power models 00:09:22.813 --> 00:09:24.614 and see where different people sit?" 00:09:24.614 --> 00:09:26.723 We started with a U.S. analysis, 00:09:26.723 --> 00:09:28.029 and let me show you some 00:09:28.029 --> 00:09:29.336 interesting findings. 00:09:29.336 --> 00:09:31.138 So the first is Apple. 00:09:31.138 --> 00:09:33.393 In this framework, we actually described Apple 00:09:33.393 --> 00:09:35.735 as an old power company. 00:09:35.735 --> 00:09:37.839 That's because the ideology, 00:09:37.839 --> 00:09:39.457 the governing ideology of Apple 00:09:39.457 --> 00:09:42.331 is the ideology of the perfectionist, 00:09:42.331 --> 00:09:44.355 product designer in Cupertino. 00:09:44.355 --> 00:09:48.597 It's absolutely about that beautiful, perfect thing descending upon us, 00:09:48.597 --> 00:09:49.778 in perfection. 00:09:49.778 --> 00:09:52.661 And it does not value, as a company, transparency. 00:09:52.661 --> 00:09:54.344 In fact, it's very secretive. 00:09:54.344 --> 00:09:56.170 Now, Apple is one of the most succesful companies 00:09:56.170 --> 00:09:57.075 in the world. 00:09:57.075 --> 00:09:58.262 So this shows that you can 00:09:58.262 --> 00:10:01.261 still pursue a successful old power strategy. 00:10:01.261 --> 00:10:04.921 But one can argue that there's real vulnerabilites in that model. 00:10:04.921 --> 00:10:06.295 I think another interesting comparison 00:10:06.295 --> 00:10:08.382 is that of the Obama campaign 00:10:08.382 --> 00:10:11.518 versus the Obama presidency. 00:10:11.518 --> 00:10:19.350 (Applause) 00:10:19.350 --> 00:10:20.447 Now I like President Obama, 00:10:20.447 --> 00:10:24.763 he ran with new power at his back, right? 00:10:24.763 --> 00:10:26.450 And he said to people, 00:10:26.450 --> 00:10:28.403 "we are the ones we've been waiting for." 00:10:28.403 --> 00:10:29.654 And he used crowdfunding 00:10:29.654 --> 00:10:31.205 to power a campaign. 00:10:31.205 --> 00:10:32.726 But when he got into office, 00:10:32.726 --> 00:10:33.608 he governed like, 00:10:33.608 --> 00:10:34.181 more or less, 00:10:34.181 --> 00:10:35.701 all the other presidents did. 00:10:35.701 --> 00:10:37.822 And this is a really interesting trend, 00:10:37.822 --> 00:10:39.820 as when new power gets powerful, 00:10:39.820 --> 00:10:41.391 what happens? 00:10:41.391 --> 00:10:43.155 So this is a framework you should look at 00:10:43.155 --> 00:10:44.947 and think about where your own organization 00:10:44.947 --> 00:10:45.861 sits on it. 00:10:45.861 --> 00:10:47.184 And think about where it should be 00:10:47.184 --> 00:10:49.222 in five or 10 years. 00:10:49.222 --> 00:10:51.567 So what do you do if you're old power? 00:10:51.567 --> 00:10:52.632 If you're there thinking, 00:10:52.632 --> 00:10:53.848 in old power, 00:10:53.848 --> 00:10:56.062 "this won't happen to us." 00:10:56.062 --> 00:11:01.819 Then just look at the Wikipedia entry for the Encyclopedia Britannica. 00:11:01.819 --> 00:11:02.495 Let me tell you, 00:11:02.495 --> 00:11:04.292 it's a very sad read. 00:11:04.292 --> 00:11:05.274 But if you are old power, 00:11:05.274 --> 00:11:06.124 the most important thing 00:11:06.124 --> 00:11:08.837 you can do is to occupy yourself. 00:11:08.837 --> 00:11:11.491 before others occupy you., 00:11:11.491 --> 00:11:12.819 before you are occupied. 00:11:12.819 --> 00:11:15.592 Imagine that a group of your biggest skeptics 00:11:15.592 --> 00:11:17.944 are camped in the heart of your organization 00:11:17.944 --> 00:11:19.823 asking the toughest questions 00:11:19.823 --> 00:11:22.751 and they can see everything inside of your organization. 00:11:22.751 --> 00:11:25.501 And ask then "would they like what they see 00:11:25.501 --> 00:11:28.336 and should our model change?" 00:11:28.336 --> 00:11:29.639 What about if you're new power? 00:11:29.639 --> 00:11:32.273 Is new power kind of just riding the wave to glory? 00:11:32.273 --> 00:11:33.753 I would argue no. 00:11:33.753 --> 00:11:35.709 I would argue that there are some very real challenges 00:11:35.709 --> 00:11:37.401 to new power in this nascent phase. 00:11:37.401 --> 00:11:40.903 Let's stick with the Occupy Wall Street example for a moment. 00:11:40.903 --> 00:11:43.893 Occupy was this incredible example of new power, 00:11:43.893 --> 00:11:45.736 the purest example of new power. 00:11:45.736 --> 00:11:48.747 And yet, it failed to consolidate. 00:11:48.747 --> 00:11:50.164 So they energy that it created 00:11:50.164 --> 00:11:51.815 was great for the mean phase, 00:11:51.815 --> 00:11:54.406 but they were so committed to participation, 00:11:54.406 --> 00:11:56.040 that they never got anything done. 00:11:56.040 --> 00:11:58.011 And in fact that model 00:11:58.011 --> 00:12:00.623 means that the challenge for new power is: 00:12:00.623 --> 00:12:03.162 how do you use institutional power 00:12:03.162 --> 00:12:05.743 without being institutionalized? 00:12:05.743 --> 00:12:07.216 One the other end of the spectra 00:12:07.216 --> 00:12:08.249 is Uber. 00:12:08.249 --> 00:12:09.450 Uber is an amazging, 00:12:09.450 --> 00:12:11.533 highly scalable new power model. 00:12:11.533 --> 00:12:13.659 That network is getting denser and denser 00:12:13.659 --> 00:12:14.879 by the day. 00:12:14.879 --> 00:12:16.358 But what's really interesting about Uber is 00:12:16.358 --> 00:12:20.489 it hasn't really adopted new power values. 00:12:20.489 --> 00:12:24.561 This is a real quote from the Uber CEO recently: 00:12:24.561 --> 00:12:29.009 He says, "Once we get rid of the dude in the car," He means drivers, 00:12:29.009 --> 00:12:32.601 "Über will be cheaper." 00:12:32.601 --> 00:12:35.876 Now, new power models live and die 00:12:35.876 --> 00:12:38.058 by the strength of their networks. 00:12:38.058 --> 00:12:39.991 By whether the drivers and the consumers 00:12:39.991 --> 00:12:42.332 who use the service actually believe in it. 00:12:42.332 --> 00:12:45.833 Because they're not an exercise in top-down perfectionism, 00:12:45.833 --> 00:12:47.781 they are about the network. 00:12:47.781 --> 00:12:49.477 And so, the challenge, 00:12:49.477 --> 00:12:51.727 and this is why it's in no way surprising, 00:12:51.727 --> 00:12:55.983 that now Uber's drivers are now unionizing. 00:12:55.983 --> 00:12:57.583 It's extraordinary. 00:12:57.583 --> 00:12:59.872 Uber's drivers are turning on Uber. 00:12:59.872 --> 00:13:01.166 And the challenge for Uber, 00:13:01.166 --> 00:13:03.093 this isn't an easy situation for them, 00:13:03.093 --> 00:13:06.609 is that they are locked into a broder super-strcuture 00:13:06.609 --> 00:13:08.074 that is really old power. 00:13:08.074 --> 00:13:11.082 They've raised more than a billion dollars in the capital markets. 00:13:11.082 --> 00:13:13.950 Those markets expect a financial return, 00:13:13.950 --> 00:13:15.527 and they way you get a financial return 00:13:15.527 --> 00:13:17.924 is by squeezing and squeezing 00:13:17.924 --> 00:13:20.379 your users and your drivers 00:13:20.379 --> 00:13:21.464 for more and more value 00:13:21.464 --> 00:13:23.931 and giving that value to your investors. 00:13:23.931 --> 00:13:24.914 So the big question 00:13:24.914 --> 00:13:26.172 about the future of new power 00:13:26.172 --> 00:13:26.914 in my view is: 00:13:26.914 --> 00:13:30.093 Will that old power just emerge? 00:13:30.093 --> 00:13:31.876 So will new power elites just become 00:13:31.876 --> 00:13:34.025 old power and squeeze? 00:13:34.025 --> 00:13:36.658 Or will that new power base bite back? 00:13:36.658 --> 00:13:38.139 Will the next big Uber 00:13:38.139 --> 00:13:40.519 be co-owned by Uber drivers? 00:13:40.519 --> 00:13:42.472 And I think this will be a very interesting 00:13:42.472 --> 00:13:45.204 structural question. 00:13:45.204 --> 00:13:48.786 Finally, think about new power 00:13:48.786 --> 00:13:51.093 being more than just an 00:13:51.093 --> 00:13:52.769 entity that scales things 00:13:52.769 --> 00:13:56.505 that make us have slightly better consumer experiences. 00:13:56.505 --> 00:13:58.371 My call to action for new power 00:13:58.371 --> 00:14:01.209 is to not be an island. 00:14:01.209 --> 00:14:03.935 We have major structural problems in the world today, 00:14:03.935 --> 00:14:06.191 that could benefit enormously 00:14:06.191 --> 00:14:08.755 from the kinds of mass participation 00:14:08.755 --> 00:14:10.112 and peer coordination 00:14:10.112 --> 00:14:11.820 that these new power players 00:14:11.820 --> 00:14:13.966 know so well how to generate. 00:14:13.966 --> 00:14:16.719 And we badly need them to turn their energies and their power 00:14:16.719 --> 00:14:20.703 to big, what economists might call, 00:14:20.703 --> 00:14:22.276 public goods problems, 00:14:22.276 --> 00:14:24.592 that are often beyond markets 00:14:24.592 --> 00:14:26.882 where investors can easily be found. 00:14:26.882 --> 00:14:28.482 And I think if we can do that, 00:14:28.482 --> 00:14:31.207 we might be able to fundamentally change 00:14:31.207 --> 00:14:35.138 not only human being's sense of their own agency and power, 00:14:35.138 --> 00:14:37.896 because I think that's the most wonderful thing about new power, 00:14:37.896 --> 00:14:40.608 is that people feel more powerful, 00:14:40.608 --> 00:14:42.239 but we might also be able to change 00:14:42.239 --> 00:14:44.172 the way we relate to each other 00:14:44.172 --> 00:14:47.003 and the way we relate to authority and institutions. 00:14:47.003 --> 00:14:49.361 And to me, that's absolutely 00:14:49.361 --> 00:14:50.622 worth trying for. 00:14:50.622 --> 00:14:51.718 Thank you very much. 00:14:51.718 --> 00:14:55.330 (Applause)