Ideas

  • How Blockchain Will Eventually Disrupt Every Industry

    Recently, I shared an infographic with 25 notable cryptocurrencies and restated that the support technologies for coins (specifically, blockchain and smart contracts) are more exciting than any individual currency. 

    Blockchain is radically changing the future of transaction-based industries. Industry leaders are fervently evaluating and exploring blockchain to determine its potential for disruption, and for developing a long-term strategic advantage over their competitors.  

    Blockchain is disruptive because of its ability to digitize, decentralize, and secure the validation of "transactions".  Everywhere there's a hand-off of information or goods, blockchain has the opportunity to improve that process. 

    Imagine being able to see the entire history of a property, and know it's accurate. Imagine being able to track individual shipments globally through your supply-chain with ease. Imagine being able to enter/exit countries without the elongated passport check-ins. 

    The list goes on … Aviation, Big Pharma, Manufacturing, Finance, SaaS … In the same way that artificial intelligence is transforming what's done by humans and what's done by machines, the blockchain is transforming security and how we transfer data. If data is the new currency, blockchain is the banking system. 

    Blockchain enables transparency and accountability on a radically bigger scale. 

    Here are 36 companies already using blockchain to innovate, and here's a simple infographic for some of the basic applications of blockchain in non-financial industries.

     3152018 blockchain

    NewCoShift via Crowd Companies

     

    I've said this before, but it's worth echoing …  Some of what was once Impossible becomes Possible.   Some of what became Possible becomes Probable.  And, and some of what became Probable becomes Inevitable.

    Blockchain is happening.  Technological shifts,  like this, require you to think about your industry and your potential opportunity differently.

    Change is happening faster (and creating bigger edges) than ever before. 

    What a great time to be an entrepreneur.

    Seize the Edge!

    Onwards.

  • What Are The Most Notable Cryptocurrencies?

    A few months ago, it seemed like everyone was asking about Bitcoin (and many were investing heavily). While it's still a common topic of discussion, the sentiment has definitely flattened out.

    Making sense of cryptocurrencies is tough. There are over 1000 currencies out there – and the list is growing.  But it isn't just about first-mover advantages or features.  You have to consider government policies and regulations, and a host of other issues.

    Consequently, it's hard to recommend putting money in any coin, as an investment.

    Trading is a different conversation.

    There is a lot of momentum and interest in this space.  If it seems worth learning more, here's an infographic on some of the more notable currencies. 

     

    3112018 cryptocurrencies

    nickwb via Reddit 

    Each currency has it's own strengths and weaknesses, but I stay much more bullish on the underlying technologies (like Blockchain) than any individual coin.

    What about you? 

  • Pro Tip: You’re Not An Author

    I love books … bookshelf after bookshelf confirms that (I’ve even read most of them!)

    So far, however, none of the books on those shelves were written by me.

    Not surprisingly, it’s a lot easier to read one than write one.

    The Internet makes being a bestseller seem easy, and writing the book even easier. It feels like everyone and their mother has a book.

    But it’s not that easy.

    After reading several posts on writing books, listening to experts, talking with friends that have written them, I’ve tried a lot of different approaches. I’ve transcribed speeches and presentations, I’ve chronicled dozens of stories on key points, etc. I've used book writing software, voice transcription services, grammar checkers, and even text expansion software, trying to make it easier. 

    I've spent more time not writing a book than many successful authors spent from start to finish.

    Technology makes most things easier and faster … but, whether we’re talking about writing a book or a trading algorithm, at some point, you realize that it’s not enough to use tools, you also have to know how to use them.

    If you don’t have the right skills and knowledge, tools only help you create garbage faster.

    That is where Tucker Max and Book in a Box come in … When it's time to write your book, they can help.

    Tucker Max has written 4 Best Sellers (for himself) with 3 on the Best Sellers’ List at the same time.

    Here is an interview I did with Tucker about the book-writing process, and why it can be hard, even for very smart people, to write a book. 

     

    via YouTube

    Are you planning on writing a book?

    I am!

     

  • Ikigai – A Japanese Concept About Finding Life’s Purpose

    I just read that they sell more adult diapers than baby diapers in Japan.

    Getting old is tough, and it gets tougher the older you get.   As a result, finding your 'reasons for being' and joy in life becomes even more important. 

    Many people (all over the world) struggle to get up in the morning. 

    There's a Japanese concept called Ikigai that may help.

     

    292018 IIB-Ikigai-1

    via InformationIsBeautiful

    Finding your "reason to be" and living with purpose is a key to making the most of your time.

    The graphic highlights something interesting (yet almost counter-intuitive) … When two areas intersect, it creates a something positive (e.g., a passion or a mission).   However, where three areas intersect, it creates a pain point (for example it could be what you're good at, you love doing it, the world needs it … but it doesn't make you any money – so now you're struggling).

    Worth examining and thinking about for a bit.

    On a related note, here is a TEDx talk about the 9 common diet and lifestyle habits that help people live past 100.

     

    TED-ED via YouTube

    Live long and Prosper!

  • 12 Ways to Get Smarter – In One Infographic

    I just got back from Asia and have been jet-lagged.  Consequently, my mental clock-speed is not yet back to normal.
     
    It got me thinking about productive output … and how to increase it.
     
    According to VisualCapitalist, the level of a person’s raw intelligence, as measured by aptitude tests such as IQ scores, is generally pretty stable for most adults.
     
    While it’s true that there are things you can do to fine tune your natural capabilities (such as doing brain exercises, puzzle solving, and getting optimal sleep) – the amount of raw brainpower you have is difficult to increase in any meaningful or permanent way.
     
    For those of us who constantly strive to be high-performers in our fields, this seems like bad news. If we can’t increase our processing power, then how can we solve life’s bigger problems as we move up the ladder?
     

    The Key is Mental Models

     
    The good news is that while raw cognitive abilities matter, it’s how you use and harness those abilities that really makes the difference.
     
    18 0225 mental-models-infographic
     
    via VisualCapitalist – Click the image to see a larger version.
     
    The world’s most successful people, from Ray Dalio to Warren Buffett, are not necessarily leagues above the rest of us in raw intelligence – they have simply developed and applied better mental models of how the world works, and they use these principles to filter their thoughts, decisions, strategies, and execution.
     
    Today’s infographic comes from best-selling author and entrepreneur Michael Simmons, who has collected over 650 mental models through his work. The infographic (in a similar style to one VisualCapitalist previously published on cognitive biases) synthesizes these models down to the most useful and universal mental models that people should learn to master first.
     
    Concepts such as the 80/20 rule (Pareto’s Principle), compound interest, and network effects are summarized in the visualization, and their major components are broken down further within the circle.
     
    If you want to be a top performer, it’s worth looking into mental models. They can help you better frame reality, so that you can harness your intelligence and effort in the most effective way possible – and it’ll allow you to deliver results along the way.
     
    Otherwise, caffeine and modafinil help.

  • Here Are Some Links For Your Weekly Reading – February 25th, 2018

    Sometimes it is nice to be reminded that  great works are often performed by perseverance rather than strength.

     

    180225 samueljohnson-quote

    via BrainyQuote

    Here are some of the posts that caught my eye recently. Hope you find something interesting.

     

    Lighter Links:

     

    Trading Links:

  • Why Elon Musk’s SpaceX Launch Is So Important

    Last Tuesday, Musk launched his Tesla Roadster and it's passenger "Starman" into space on his Falcon Heavy rocket. 

    Cool?  Clever Marketing?  Or Both?

     

    282018 Roadster and Starman

    Space via Twitter

    This feat is exciting for a number of reasons.

    1. Falcon Heavy is cheaper than other heavy lift rockets – yet, it is twice as powerful. 
    2. This means we can ship payloads to Mars (or potentially farther). 
    3. The boosters landed back on their platform to be reused.
    4. And, ultimately, it's inspiring and momentum building to a new age of future space explorers.

    When I was growing up, the space race caught the public's hearts and minds.  I was a kid, but I still remember watching the lunar landing.  It was a big deal! 

    Likewise, I remember when astronauts were positioned as national heroes.  Now, we're more jaded.

    In the past decade, rockets, space-stations, satellites, etc. were often just an afterthought or a small filler news item.  Meanwhile, A.I., Cloning, Voice Recognition, 3D Printing, Drones, and other technological advances were the sexy attention-getting topics. 

    Recently, that has changed.  The space race is getting hot again.  Resources are pouring into this area, and SpaceX's launch is proof that we are making progress (and probably altering life's history). 

    Take a look. 

     

     

    This was supposed to be captivating.  Teachers can show their students a rocket launch where a man shot a car into space … then they can watch the car float through space.  It's taking what we're used to only seeing in movies … and making it real. 

    Passion in the sciences is important, and successes like this can ignite passion in our future, in more than just space exploration. 

    We live in exciting times. 

    Onwards!

  • Will I Survive the AI Revolution?

    The adoption of Artificial Intelligence by more industries, and it's subsequent advances, raise a lot of questions. 

    For example, Saudi Arabia recently gave "Sophia the Robot" citizenship. That makes Saudi Arabia the first country to grant a robot citizenship.  This isn't the first time non-persons have been granted the rights of a citizen, but it does raise questions. 

    Another question I hear more often is:

     

    How long until the machines are better at my job than me? 

     

    Automation used to mean big, bulky machines doing manual and repetitive work, but today, automation can land aircraft, diagnose cancer and trade. 

    Kurzgesagt, a YouTube channel specializing in explaining things "in a nutshell" took on the new wave of automation. It's a little long at 11 minutes, but it's worth watching.

      

    Kurzgesagt via Youtube

    Kurzesegast asserts that in the past, innovation created new industries or allowed increased scale … but the number of jobs the internet and Artificial Intelligence create aren't matching the number of jobs they're making obsolete. 

    According to this study, approximately 50% of jobs will be automated by 2034.

    Personally, I believe that freeing us to do more has always been a boon to society.  Electricity put a lot of people out of work as well.  Nonetheless, look what it made possible.

    To date, human progress has been based on the division of labor. As our society progressed, our jobs have become more and more specialized.  Now, machines will be able to break-down complex jobs into simple parts and complete them faster than we can.  

    Machine Learning is being done faster and better.  And you can bet that will only become more true.  So, yes, the same technology that's  currently creating opportunities could eventually put you out of a job … but it also creates an opportunity for something new.

    Basic concepts (like what constitutes a person and which things are alive) are not so basic anymore.  And the implications are fascinating as well.  For example, people are discussing the taxation of robots, a Universal Basic Income, and even One-Child Policies. 

    There's a lot of change coming, and that can be scary, but there's plenty of reason to be excited as well.

    We live in a golden era of innovation, and we have longer life-expectancies than ever before. 

    We truly live in interesting times!

  • Here Are Some Links For Your Weekly Reading – February 4th, 2018

    Cloning primates … What could go wrong?1262018 Monkey clones

     

    Here are some of the posts that caught my eye recently. Hope you find something interesting.

    Lighter Links:

     

    Trading Links:

  • Scientists Have Just Cloned Monkeys

    Do you remember Dolly the Sheep?

    She was the first mammal cloned "from an adult somatic cell, using the process of nuclear transfer."

    Dolly was cloned from a mammary gland and was named after Dolly Parton … for obvious reasons.

    Since then, many other large mammals were cloned, including pigs and horses. 

     

    TIME via Youtube

    It was just announced that Chinese scientists have cloned two long-trailed macaques using the same technique that produced Dolly. 

    Since humans are primates as well, this is an exciting, and mildly terrifying, step towards cloning humans. 

    Pragmatically, this bolsters medical research by making it possible to study diseases on uniform subjects, but it also raises tough questions on human cloning. 

    As A.I. and cloning advance, some tough bio-ethic issues will take front stage.  It is time to start thinking about what defines a person (or even a living creature) and what rights they have.

    Innovation stops for no one … and Nature finds a way.

    Onwards!