A conversation with Colin Mayer: Profit from producing solutions, not problems

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@yensteel 6 ай бұрын

AI training sources is a problem that every company is tip toeing around. Privacy issues, and security vulnerabilities are often overlooked as it is costly to maintain. Some companies stick to regulatory requirements, others are reactionary (Only respond when theres a controversy or breach), others are proactive. It costs consumers a lot. Companies should not only worry about potential lawsuits, criminal investigation, or loss of brand equity. Theres a few cost models for security breaches. There's even more for societal models. YT algorithms are an example.of societal impact. They're the gatekeepers of what is recommended and watched. Dynamic pricing was also shown to create new pricing norms and accelerate inflation. It doesn't matter if companies like amazon are cheaper (Part of their required agreement) if it encourages the raising of prices elsewhere. (Company: "Yes, it will be cheapest on Amazon, if it is more expensive elsewhere") Eco problems like pollution is sadly.. not as discussed as it should. Isn't ESG supoosed to highlight this? ESG ratings are too complicated imo. Its easier to maintain a rating in in one way than another.

@yensteel 6 ай бұрын

To further add to some concerns with ESG, it has to do with Goodart's law: Whatever becomes the gold standard or metric no longer becomes the most reliable metric. Companies should focus on the philosophy of ESG instead of the rating, and the rating should at least be transparent and discussed. For example, there are research and case studies on green washing. It harkens back to the type of credit ratings we got right before the 2008 financial crisis. The ratings don't matter if they don't reflect reality. The same applies to today's practices.