Re: FirstRateCrowd's EIRA

Posted: Sun Apr 21, 2019 4:47 pm, #25
by Doctor A
Here is my list of major factors that can significantly impact and prevent the Economic Inequality Rating App project from working as predicted. Areas of concern include the future of Democracy, time restrictions due to the technological singularity, the portion of the 99% that will actually use the app, and initial startup and development costs. In my opinion, all of these events are possible threats and need to be managed either now or in the future.

1) The app will need a Democracy to work because authoritarian regimes will not allow it on the internet. Autocrats are usually supported by wealthy Oligarchs and Kleptocrats who would suffer financially from the EIRA. It certainly is not in their best interest.

Currently, the USA is no longer a full Democracy and with Trump we can easily slide into the wrong direction. I too was surprised by this news.

From: Post #27 under New age slavery on the website by Jessica, Fri Aug 31, 2018

The USA is no longer classified as a "full democracy" and is now rated as a "flawed democracy." We need democracy to support a free and vibrant internet to fight against authoritarian rule and for the Economic Inequality Rating App to flourish.

I watched Fareed Zakaria's video below and was shocked to see the USA is no longer classified as a full Democracy as rated by the Democracy Index. I assumed like most people we were a full Democracy and did not know of the tarnished ranking. This is important because the Economic Inequality Rating App (EIRA) needs Democratic countries to be most effective.

Sterling calls it correctly when he states in his post #22 under New Age Slavery,

"Can you read the handwriting on the wall or do you need a rifle barrel poked into your ribs to get the point. The world is drinking the poisoned Kool Aid of authoritarianism which derives its power from a loss of democracy and inequality. Take note, authoritarianism and inequality are the very bedrock of slavery. Say goodbye to your freedoms unless you are willing to fight for them."

To drive this concept home, Fareed Zakaria presents a global view on the demise of Democracy. https://www.youtube.com/watch?v=D2YoKJfu_90[/quote]

Wikipedia: The Democracy Index is an index compiled by the UK-based company the Economist Intelligence Unit (EIU) that intends to measure the state of Democracy in 167 countries https://en.wikipedia.org/wiki/Democracy ... try_(2017)
Hand in hand with this declining Democracy around the world and in the USA is the decline of a free internet needed to support the app.

2) Time restrictions due to the shortening time frame imposed by the advancing technological singularity.

I have been asked, "Is there still time for the EIRA to become a success with the looming technological singularity?" I believe the answer is yes, there is still time to accomplish our goal of stopping economic inequality with the app. By 2029, about 10 years from now, it is estimated Artificial Intelligence will be on par with the adult human wet brain. Sometime after that, with estimates of 2045 to 2049, the full effects of the technological singularity will be known. So, I think a window of opportunity of at least 10 years plus a number of more years exist depending upon the speed of the developing singularity. This is sufficient time for the app to be successful in moderating the direction the technological singularity takes.

3) I assume most individuals in the 99% will participate in using the app once it is developed. However, political persuasions may defeat some of this usage. For example, it is currently hard to know what percentage of Donald Trump's base would use the app even though it is in their best interest. I wish to point out that the base electing Donald Trump did not did not do so in their own best interest so we may have to suspend rational thought along this line of inquiry. An advertising campaign addressing the brain structure of conservatives in the 99% will be needed to bring these people on board in some manner. If people knew what was at stake, I think they would use the app. Overall, I believe a majority of individuals in the 99% would use the app regardless of political persuasion. They would be voting for their future survival every time it is used.

4) The initial cost to set up this project is high. But in comparison to what the consequences would be due to not setting up the project, this is minuscule. I estimate to set up the app for near full development would cost about $100 million. Out of this amount, creating the database and the advertisement will be the most costly items. The app technology itself for hand held use is already state of the art and can be readily purchased or developed.

I base this cost estimate upon the financial needs of setting up JustCapital, a company with a similar model as FirstRateCrowd's but with a different outcome in mind. JustCapital's goal is to make corporations confirm to being more "Just" for American workers. Their model and goal will not be successful in stopping the wealthy elite's grip upon the 99% or reducing economic inequality as efficiently or effectively as will the EIRA. Here is information on their company in this link:
https://justcapital.com/

It is my hope that other members on the site will give a critical review of these four basic hindrances to the successful implementation of the EIRA. Moreover, any other additional overlooked obstructive process not mentioned above are most welcome so we can assess their impact.