The central thesis of this book is that we should not allow crazed billionaires who had a good idea once when they were in university to determine the course of human history. Or, technological advancement does not always automatically result in increased shared prosperity; in order for it to do so, governments must regulate and, well, govern it.
Regarding crazed billionaires, the opening story of the book is about Ferdinand de Lesseps as he planned and built first the Suez canal, and then planned and attempted to build the Panama canal. He himself was not an engineer: his exceptional ability seemed to be to be able to get extremely contagiously excited about something, and convince others to trust him and invest in him. The Suez canal, built across flat, sea-level, dry terrain in Egypt, was a great success, and led to fame and riches for Lesseps ("The Great Frenchman"). Despite the best advice of experts, Lesseps then got given the go ahead to build the Panama canal using the exact same model as the Suez, despite Panama being almost opposite in terrain: mountainous, wet jungle, teeming with tropical diseases. Obviously it goes horribly wrong, thousands lose their money and tens of thousands of workers die and the Panama canal is not completed. I personally think the key message of this is not to trust the French, but the authors’ suggestion is that we should not mistake confidence, status and persuasive vision for genuine technical judgment, or assume that because something is innovative, that it will work, or be for the betterment of humanity.
I actually really enjoyed Lesseps as a character, even if he led to the deaths of thousands of people and ultimately did very little good. He was so determined and had such faith in his own vision that he was willing to constantly risk everything on it. He was clearly a fascinating character of his time, and it is his story that was the highlight and most memorable part of the book for me. Long after I forget this book, I will remember Lesseps. I have a vision of him standing in the Panamanian mud surrounded by men dying of yellow fever, months behind schedule and millions above budget, engineers telling him flat to his face that his plan wouldn't work, and him still urging everyone on, telling them it will work out the way he had imagined it in the end. It makes me think of Elon Musk's sad future Mars colony of slowly suffocating, regret-filled, homesick people alone on a cold, red, dusty world, eating vitamin goop and drinking recycled piss while he dementedly urges more people to go there, that it is for the better of humanity, that we just need to crack a few more eggs to make the interplanetary omelette he saw in his dreams after reading a summary of an Iain M Banks novel.
The conclusion of this book was predictable - governments must regulate, legislate and tax their way into a position of control of the reckless way that corporations are being allowed to determine the direction that technological advancement is going. They are not anti-tech, they just want to shift from asking not simply whether a technology works, increases output, or makes money, to asking whether a technology creates socially useful productivity gains and whether those gains are broadly shared. If it does not create useful productivity gains and those gains are not broadly shared, it should be taxed, regulated, blocked etc.
The reason for 4 and not 5 stars is that it wasn’t all fun stories of Victorian era eccentrics, and that it proposes broad solutions - wealth taxes, for example - that seem common sensical and reasonable, but does not address the elephant in the room: these common sensical, reasonable solutions, for some reason, seem far far beyond our imagination. The USA, the only player that really matters in AI, is run by Trump, who is not going to introduce higher taxes on these corporations or their billionaire owners or regulate their products unless it benefits him in some way. And even if America did regulate, China could storm ahead, and they will almost certainly not be concerned with the interests of people living outside of China, and maybe not even those living inside China, when deciding how to use advanced technologies. For now, I can't see any of the proposed solutions in this book happening, but we'll see - it took a while for government to catch up to technology after the Industrial Revolution, but they did eventually, and it led to a rise in living standards and life expectancy...so there is hope.