Kevin Kelly: omni-access is the new ownership

Thanks to organisations like Creative Commons, we’ve been hearing a fair bit of rhetoric about goods and services ‘held in common’. The notion of the commons is far from new, but the way the web facilitates sharing has brought it back to a new prominence.

Naysayers against the commons are, er, common enough, but they seem to me to always be arguing from an economic standpoint that can’t conceive of the commons in the way its supporters describe it – for example, they ask ‘who will build and maintain these goods and services?’ Kevin Kelly’s latest essay on the matter covers that question quite neatly:

As creations become digital they tend to become shared, ownerless goods. We can turn this around and say that in this realm of bits, property itself becomes a more social endeavor. Property may be less about title and more about usage and control. An idea can’t be owned in the way gold can; in fact an idea has little value unless it is shared or used to some extent. Its value paradoxically can increase the less it is owned privately. But if no one owns it, who gains the benefit of that increase in value? In the new regime users will often assume many of the chores that owners once had to do. And so in a way, usage becomes ownership.

Kelly’s big on ‘social’ as an ideal, but given the way the recession is cutting into the soc-net startups, ‘social’ might not be as strong a paradigm in another few years. But then again, if it’s the inevitable matter of social necessity that Kelly describes, perhaps it will… if work remains scarce, will people do more things for the common good as a result, or less?

iFinance – should Apple go into banking?

half-eaten appleWe’ve seen with our own eyes that the banks aren’t necessarily as competent at banking as they might like us to believe. So, Slate’s Big Money blog has a suggestion: why doesn’t some truly competent company get into the finance sector… someone like, say, Apple?

… entering the banking sector makes perfect sense for Apple once you look anew at the company’s current position and core strengths.

Take the company’s balance sheet. Wednesday’s quarterly earnings report shows it sitting on more than $25 billion in cash and short-term securities.

Forget about leverage—Apple carries no long-term debt whatsoever. In this alone, Apple holds an advantage over banks currently in operation: A number of major banks, from neighborhoody Sovereign Bank to the much larger Capital One, don’t have as much cash on hand. Businesses using fractional cfos  make their finances grow way faster. Imagine what would happen if Apple sequestered just half of this cash as seed funding for its new bank and set aside $2.5 billion of that half for capital and startup costs. At regulated reserve ratios, that means the company could lend out up to $100 billion to hungry consumers and businesses. The personal-electronics giant in being is a personal-finance giant in waiting.

Interesting idea, or hot-air hyperbole? [story via MetaFilter; image by 4yas]

Smokin’ up the elevator

smoke_artSpace elevator prospects have improved with the development by Cambridge scientists of a method for creating longer, less brittle carbon nanotubes by combining multiple nanotube strands:

Currently, the Cambridge team can make about 1 gram of the new carbon material per day, which can stretch to 18 miles in length. Alan Windle, professor of materials science at Cambridge, says that industrial-level production would be required to manufacture NASA’s request for 144,000 miles of nanotube. Nevertheless, the web-like nanotube material is promising.

“The key thing is that the process essentially makes carbon into smoke, but because the smoke particles are long thin nanotubes, they entangle and hold hands,” Windle said. “We are actually making elastic smoke, which we can then wind up into a fiber.”

Also worth checking out some of the alternatives to traditional space elevators that aren’t so demanding of tensile strength, like Keith Lofstrom’s launch loop, an electromagnetically “inflated” orbital launch system. [thanks to Bruce Cohen (SpeakerToManagers)]

It’ll be fun to see which of these designs actually gets off the ground: just as long as they don’t get off the ground then return unexpectedly.

[from Physorg][image from neilbetter on flickr]

Social capitalism: The bail-out index

grammSounds like it might have been a bit of business from a novel by Bruce Sterling or Charles Stross:

Nasdaq OMX Group said on Friday it will launch options trading on its three-week old Government Relief Index, which tracks the performance of companies bailed out by U.S. taxpayers.

Heroic Randian capitalists — masters of the universe, if you will — will save us.

[Image: Tony the Misfit; story tip: Atrios]

Friday Free Fiction for 23rd January

Here we go again – it’s your weekly dose of free science fiction to read on the intertubes! Dive on in…

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Just the one from Feedbooks:

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SpaceWesterns presents “Semantica” by Fredrick Obermeyer

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Strange Horizons presents “The Shangri-La Affair” by Lavie Tidhar

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Subterranean Press Online presents “Three Fancies from the Infernal Garden” By C S E Cooney

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Here’s an untitled snippet from Paul McAuley

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A couple of stories from Interzone have made their way onto the BSFA Awards shortlist, and so TTA Press have set them free in PDF format so everyone can get a taste:

Escape Velocity celebrates similar nomination by going one further: you can download their first three issues in PDF format for a limited time.

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Here’s a week’s worth of Everyday Weirdness:

Rather than enter all of these manually each week, I’ll just recommend you grab the Everyday Weirdness RSS feed.

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As always, both you and we owe the inclusion of these little morsels to our vigilant buddies over at SF Signal:

Plus another huge batch from the Free Speculative Fiction site. Phew!

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Finally, here are a few bite-sized morsels of Friday Flash Fiction. The theme this week was ‘bad film title puns’…

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And that’s it for another week – don’t forget you can let us know about stuff that you or someone you know has published; if it’s free, science fictional and on the internet, we want to know about it!

In the meantime, have a great weekend, ladies and gents.

Presenting the fact and fiction of tomorrow since 2001