Jaron Lanier’s latest book, Who Owns the Future?, begins by noting an instructive coincidence: The bankruptcy of the photography-giant Kodak occurred within months of Facebook‘s billion-dollar acquisition of the photo-sharing site Instagram. This would be just one example of the destructive dynamism of American capitalism, a process through which old companies are overtaken by new technology and new firms more in tune with the needs of customers — and that arguably benefits us all.
Except for one thing, that is: Whereas Kodak employed 140,000 workers during its heyday, Instagram employed just 13 people when it was purchased in April 2012.
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