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“One of the myths about the Internet of Things is that companies have all the data they need, but their real challenge is making sense of it. In reality, the cost of collecting some kinds of data remains too high, the quality of the data isn't always good enough, and it remains difficult to integrate multiple data sources.”

“Unlike return, however, risk is no more quantifiable at the end of an investment that it was at its beginning. Risk simply cannot be described by a single number. Intuitively we understand that risk varies from investment to investment: a government bond is not as risky as the stock of a high-technology company. But investments do not provide information about their risks the way food packages provide nutritional data.”

“We've already seen shifts happening in some of the big companies - Google, Apple - that now understand how vulnerable their customer data is, and that if it's vulnerable, then their business is, too, and so you see a beefing up of encryption technologies. At the same time, no programs have been dismantled at the governmental level, despite international pressure.”

“While the creative works from the 16th century can still be accessed and used by others, the data in some software programs from the 1990s is already inaccessible. Once a company that produces a certain product goes out of business, it has no simple way to uncover how its product encoded data. The code is thus lost, and the software is inaccessible. Knowledge has been destroyed.”