google as bank

This is an interesting concept. Data is currency in economy 2.0 and companies like Google are the new banks. The Economist article cited is surely talking about grand-scale corporate data storage, access and flow control, but I observe that, just as I am not a Fortune 500 company but I still use the same banks they do for my checking and savings accounts, I too use Google Documents (along with some other companies like zoho, box and omnidrive) as an all-online solution for document creation and storage. In fact, I have not opened a local word processing application or saved a document to my own hard disk for the past two semesters. No matter where I find myself, I can create new stuff, access, edit and share it. Not only is it convenient (moreso than an ATM machine for those who still use cash), it it does feel safer. I don't have to worry about what to do if my hard drive crashes or my computer is stolen.

But at what cost? Notes the author, Ben Vershbow at if:book, "Google is swiftly becoming a new kind of monopoly: pervasively, subtly, intimately attached to your personal data flows. You—your data profile, your memory, your clickstreams—are the asset now."

And I can't wait for this.