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$5 Trillion Crypto 3.0: IdeaGraphs Surpass Blockchains

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$5 Trillion Crypto 3.0: IdeaGraphs Surpass Blockchains

  1. 1. Approximate ATH Gains Not to Scale Blockchain Crypto 3.0 Future US$5 Trillion 1.0 2.0 2,000,000 X Gains 4,500 X Gains 100,000 X Gains You ? Missed Out On These Gains? IdeaGraph ? Present mark@ideagraph.org
  2. 2. Crypto 1.0 BTC https://en.wikipedia.org/wiki/History_of_bitcoin
  3. 3. ~2,000,000 X Crypto 1.0 BTC ROI: ~2,000,000X @ ATH; ~930,000X Now May 2010: ~$0.01
  4. 4. Crypto 2.0 ETH ROI: ~4,500X @ ATH; ~2,300X Now Aug 2015: ~$0.30 ~4,500 X
  5. 5. $112 billion $4.8B $159 billion (2018 $) Which Internet 1.0 Stock is This?
  6. 6. a blockchain with a built-in fully fledged Turing-complete programming language encode any computation that can be conceivably carried out Smart Contracts a new decentralized blockchain that governs itself by establishing a true digital commonwealth. It facilitates formal verification, a technique which mathematically proves the correctness of the code governing transactions and boosts the security of the most sensitive or financially weighted smart contracts The block chain is a shared public ledger on which the entire Bitcoin network relies $230+ M ICO Cryptography, … peer-to-peer networking cryptocurrency 2009 2015 2017 Risk Reduction : From Bitcoin to Ethereum to Tezos
  7. 7. Function Innovation Risks Returns (Now) Store Value Blockchain Totally Unproven w/Huge Risks ~856,000 X US$146B + Transact Value + Turing-Complete platform for smart contracts Greatly Reduced ‘cos of Bitcoin ~2,400 X US$72 B Same as above + Provably Correct Coding Even Lower US$232 M Declining Risks Lead to Declining Returns ~350X
  8. 8. Super-early Risk-Takers Are the Huge Winners! May 2010: ~$0.01 ~2,000,000 X
  9. 9. Perhaps A Few Thousand Super-early Risk-Takers? https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html Apr 2018 $131 B $1 M $60 B $40 M * Addresses .NE. Persons *
  10. 10. https://howmuch.net/articles/bitcoin-wealth-distribution (Sep 2017)
  11. 11. 2017 https://www.jbs.cam.ac.uk/faculty-research/centres/alternative- finance/publications/global-cryptocurrency/#.Wt7n7IjwbIU Crypto 1.0 Crypto 2.0
  12. 12. https://thedistributedpost.com/2018/04/10/this-bear-market-is-setting-the-stage/ Greatest 2017 Gain: ~ 360 X
  13. 13. What’s Next? Crypto 1.0 Crypto 2.0 2017 Crypto 3.0
  14. 14. Approx ATH Gains Not to Scale Blockchain Crypto 3.0 Future US$5 Trillion 1.0 2.0 2,000,000 X Gains 4,500 X Gains 100,000 X Gains You ? Missed Out On These Gains? IdeaGraph ? Present
  15. 15. Table of Contents Crypto 3.0 - The Future of Crypto A. Crypto 1.0 & Crypto 2.0 - Transactions  Truth-Based Crypto 3.0 for Science & Technology Return = function(risk) Democratize Innovation to Pervasive Prosperity B. Protect Patents with Math-Based IdeaGraphs: $5 trillion C. Accelerate Invention & Innovation with IdeaGraphs: $ trillions D. IdeaGraphs Surpass Blockchains E. Progress F. Next Steps Appendices $ in US$
  16. 16. Crypto 1.0 & Crypto 2.0 Blockchain Crypto 3.0 IdeaGraph
  17. 17. Transactions: Foundation of Bitcoin & Ethereum NO INTRINSIC VALUE
  18. 18. https://finance.yahoo.com/news/warren-buffett-buying-bitcoin-not-investing-110702015.html Buffett: BTC has NO Intrinsic Value – May 2018 Interview
  19. 19. Buffett: BTC has NO Intrinsic Value – May 2018 Interview https://finance.yahoo.com/news/warren-buffett-buying-bitcoin-not-investing-110702015.html "If you buy something like bitcoin or some cryptocurrency, you don't have anything that is producing anything," Buffett says … "You're just hoping the next guy pays more. And you only feel you'll find the next guy to pay more if he thinks he's going to find someone that's going to pay more. "You aren't investing when you do that, you're speculating." To be an investment, what you're buying has to be worth something on its own … "You look at the investment itself to deliver the return to you. Bitcoin, however, only increases in value by being bought and sold, he argues. Its value comes from what people are willing to pay. "[I]f you ban trading in ... bitcoin, which nobody knows exactly what it is, people would say, 'Well why in the world would I buy it?'" "There's nothing wrong with it if you want to gamble [that] somebody else will come along and pay you more money tomorrow," … "That's one kind of game. That is not investing."
  20. 20. Without Considering Special & General Relativity’s Net Impact of +38 micro-seconds/day, errors accumulate at ~11 km/day Special Relativity ratio of the time elapsed for a GPS satellite clock and a clock on Earth is General Relativity ratio of the satellite time t(sat) and Earth-based receiver time t(E) GPS satellite clocks daily run slower than those on Earth by 7 micro-seconds because “moving clocks run slow” GPS satellite clocks daily run faster than those on Earth by 45 micro-seconds because Earth’s gravity is weaker at the satellites’ altitude. IdeaBlock: GPS Truths: Einstein’s Theories of Relativity Used for GPS https://pcos.gsfc.nasa.gov/docs/brochures/GR_Centennial_Brochure-Final.pdf
  21. 21. IdeaBlock: GPS Truths Transactions Einstein’s Truths Have Intrinsic Value; His TXs DO NOT Albert Albert Albert Special & General Theories of Relativity Prediction & Precision No Intrinsic Value
  22. 22. Symbiotic Genius Innovation Platform Crypto 3.0 Banking & Business Science & Technology IdeaGraph (IdeaBlocks of Truths) Mathematics (e.g. Crypto) Blockchain (blocks of transactions) Crypto 1.0 2008 & Turing-Complete Programming Platform Crypto 2.0 2014 Ethereum Smart Contracts Transactions (Crypto 1.0 & 2.0)  Truths (Crypto 3.0) INTRINSIC VALUE E = MC2Albert  $20  Bob science math
  23. 23. Truth 1 Truth 2 Truth 3 IdeaBlock “A” Cluster of (1+) M & S Truths math science IdeaGraph Connects IdeaBlocks logical connection IdeaGraph Complex Multi-Dimensional Graph of IdeaBlocks Graph View IdeaBlock Hierarchical View General Relativity Special Relativity Truths GPS Timing Hierarchy
  24. 24. Crypto 3.0 IdeaGraph Existing Language-Based Patent System is a Failure a US$5 Trillion Opportunity
  25. 25. Of today’s 2.1 million active patents, 95 percent fail to be licensed or commercialized. … include over 50,000 high-quality patented university inventions “U.S. firms annually waste $1 trillion in underused intellectual property assets by failing to extract the full value of that property through partnerships.” 2016 Global R&D ~US$2 Trillion Patents 95% wasted 95% of Patents Not Licensed or Commercialized
  26. 26. Patent trolls cost defendants US$500 billion in Market Valuation (1990-2010) Over the last 4 years (as of 2011), the annual loss of wealth exceeds US$83 billion. “Patent Failure” Patent Trolls Costs Defendents US$500 Billion (1990-2010)
  27. 27. US$ Chemical & Drug Other Industries IBM Annual Patent $ (1999) $531,000 $39,000 $7,600 Clear Well-Defined Boundaries (even with words) “The problem of mapping words to technology is difficult” Only Chemical & Drug Industries Benefit from Patents Lack of Precision
  28. 28. Writing Patents Words Allow Ambiguity Unverified by Patent Office
  29. 29. Crypto 3.0: Use Case 1 Use IdeaGraphs to Identify Highest-Value Patents (Improve Patent Mapping to Technology)
  30. 30. IdeaGraphs Solve “Mapping Words to Technology” Technology Hardware & Software Hardware Based upon Physics With Mathematical Expressions Software Programs Can Use Mathematical Expressions (Functional Programming) Since Technology Uses Mathematical Expressions, S&T Patents Should be Defined Mathematically as IdeaGraphs
  31. 31. Truth 1 Truth 2 Truth 3 IdeaBlock “A” Cluster of (1+) M & S Truths math science IdeaGraph Connects IdeaBlocks logical connection Hierarchy IdeaGraph IdeaBlocks M & S Truths (foundation) Patents as IdeaGraph (Complex Multi-Dimensional Graph of IdeaBlocks) Integrated Hardware & Software Defined Mathematically (prediction & precision)
  32. 32. “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” Profitable Ad Spend Profitable Patents Social GraphSearch Graph IdeaGraph 95 percent <of 2.1M patents> fail to be licensed or commercialized. Where? Answers Graphs Address the Common Problem of Identifying Highest ROI Opportunities $1 trillion in underused intellectual property $500 Billion Costs Due To Patent Trolls
  33. 33. 1494: Protecting Transactions; 1474: Protecting Inventions Ledgers Protect Transactions Centralized 1494 Decentralized * Blockchain Revolution 2008 Crypto 1.0 & 2.0 * Immutable, etc … Patents Protect Invention Words 1474 Discourses and Mathematical Demonstrations Concerning Two New Sciences Mathematizing Science Galileo Galilei 1638 Math-Based IdeaGraph 2018 Crypto 3.0
  34. 34. 2016 Global Advertising Market (display, video, search, social) US$530 Billion US$28 BUS$79 B $530 B$750 B 2016 Gross 2016 Global R&D US$2 Trillion ~20% of US$530 B Market Potential Market Cap ~US$1.3 T X US$1.3T US$2 T US$0.53 T Crypto 3.0 US$5 Trillion Google & FB (~ $1.3 T ) → Crypto 3.0 ($5 T) See Appendix May 2018
  35. 35. Innovation Creation Opportunity US$5 T US$50M (softcap & pre-tax) 100,000 X Potential Failures Primary Math-Based Approach Secondary Appreciation % Tremendous Returns, but only with Tremendous Risks
  36. 36. $ (assurance) Awareness Assessment Attitude (risk) Assets Accept Avoid Adventurer Avoider
  37. 37. Crypto 3.0 IdeaGraph: Use Case 2 Productivity is Declining a US$ Trillion Opportunity
  38. 38. US Labor Productivity Growth 1.5% $59,000 Household GDP 2015 Actual Productivity Growth 1995-2004 2.8% 2005-2015‘ 1.3% $ Productivity has Declined Worldwide (e.g. US) Over the Past Decade http://review.chicagobooth.ed u/economics/2018/article/why -hasn-t-technology-sped- productivity
  39. 39. What If Crypto 3.0 Increases Productivity? 2005-2015‘s 1.3 Productivity = 1995-2004’s 2.8% Productivity? $59,000 Household GDP 2015 Actual $ $23,400 2015 What-If $ $82,400 Household GDP Crypto 3.0 Can Crypto 3.0 Increase Productivity & Wealth? US only: $2.9 Trillion. World: $12.2 T (extrapolation)
  40. 40. Transforms Ideas into Tangibles (in AR/VR) IdeaGraph Enables Modular Ideas (Idea Blocks) In Augmented/Virtual Reality Combine and Construct New Ideas (think Lego and Mindcraft) Modular & Tangible IdeaGraph Transforms Idea Production!
  41. 41. Spatial Visual Kinesthetic Virtual Reality Humans Manipulate Idea Blocks (comparable to Lego blocks) To Explore, Combine & Create Apply MindCraft’s Building Block Approach Upon Science & Tech Ideas For Greater Creativity In Augmented/Virtual Reality, S&T Ideas Can Be Made Tangible as IdeaBlocks For Visual, Spatial and Kinesthetic Exploration
  42. 42. Math Representation Symbols  IdeaBlock Structures Symbols Math Truths Explore Math & Virtual Hands (VR) Tangible & Modular IdeaBlocks IdeaBlock Structures (1+ Truths) Minds
  43. 43. Navigate Through Hyperbolic (Math) Space in Virtual Reality
  44. 44. Ask Learn Human Activities * Adapted from Keith Sawyer’s zig-zag process Choose Make Human Activities Crypto 3.0’s Symbiotic Genius Innovation Platform Soaring Human (Imagination) w/Machine (Intelligence) Democratize Innovation to Distribute Wealth-Creation VR World of IdeaGraphs Hand & Mind Look Play Think Fuse Human w/Machine Symbiosis
  45. 45. Universe’s Computational Capacity 25,000,000 Ideas for IdeaGraphs >> Universe’s 10120 Compute Power Idea Combinations For IdeaGraphs 1,000,000,000,000, ….. (1.2 million zeroes) Has ~400 commas 101,200,000 >>>>>>> 10120 25,000,000 > 101,200,000 10120 Elementary Logic Operations (0->1)
  46. 46. Proof of Correctness/Capability & Originality (POCO)
  47. 47. Correctness Originality Truth Transaction Work Hash Rate Hard Easy HardEasy Hard Automated Verification 2FA Creation Verification Proof of Correctness & Originality (POCO) vis-à-vis POW Assessed By Mathematicians
  48. 48. Ada Lovelace 1815-1852 Ramanujan 1887-1920 Einstein 1879-1955 1,702 TX 0.37% 1,518 TX 0.33% 3,497 TX 0.77% Magnificent Magical MINDS Mindless Machines ~455,000 BTC TX Daily POCO Surpasses POW
  49. 49. Correctness Originality Truth Idea Hard Hard HardEasy Automated Verification 2FA Creation Verification Capability * Originality Easy Hard Prediction & Precision Of Idea’s Capabilities Earning Tokens - IdeaGraphs * Math-Defined Capabilities versus Word-Defined Claims Prover Tokens Verifier Assessed by Verifier Assessed By Mathematicians 2FA
  50. 50. Present Position
  51. 51. Fields Winners Borcherds Villani Wiles* Creativity Mathematics Drives Drives? Creativity Drives Mathematics Can Mathematics Drive Creativity? Challenge Identify How Mathematics Drives Creativity (NASA TRL 0) It is by logic that we prove, but by intuition that we discover Henri Poincare * Special award
  52. 52. 2002 Fields Medalist V. Voevodsky with Jiang Zemin Laurent Lafforgue and Vladimir Voevodsky won the medal for their work on some of the big current ideas in mathematics. The prizes were handed out by Chinese President Jiang Zemin during the International Congress of Mathematicians in Beijing, the biggest annual gathering of mathematicians in the world. the Fields Medal … The medal is given every four years, and is regarded as the maths equivalent of the Nobel Prizes.
  53. 53. Fields Medalist Voevodsky Launched Univalent Foundations to Revolutionize Foundations of Mathematics working on new foundations of mathematics based on homotopy-theoretic semantics of Martin-Lof type theories. Voevodsky’s Mathematical Revolution (Scientific American) at the Heidelberg Laureate Forum, Vladimir Voevodsky gave perhaps the most revolutionary scientific talk I’ve ever heard … soon, they’ll understand the foundations of mathematics very differently. New Foundation of Mathematics (Quanta Magazine) • required him to rethink the very basics of mathematics … a recasting of the underpinnings of mathematics. • a new foundation for mathematics that’s uniquely well-suited both to computerized verification and to studying higher-order relationships. • taps into a previously hidden structure in mathematics. • ideas from topology come into the very foundation of mathematics.
  54. 54. Univalent Foundations Enable Correctness & Creativity Proof Assistant Properties Connections & Collections Formal System & Structure (for the next 1,000 years) Math Objects (Sub-set of ideas) for Mathematicians for Humankind Symbiotic Genius .LT. 100K ~1.3 Billion Working Adults Exploration of Creativity Checking of Correctness To Be Developed
  55. 55. Voevodsky’s 2015 Assessment: Very Premature Ethereum Foundation Pre-Sale
  56. 56. To the SG Prime Minister’s Office – Jul 2016 https://docs.google.com/document/d/e/2PACX- 1vTD3RoYxoyfHhFzoxnyeLIzIUpGf0Dyr3alK1jj8vcmY3NodSidTc96WWezXr42nQWEl_6jqG5GJVn V/pub
  57. 57. 2017: Math-Driven Creativity with V. Voevodsky Dr. Voevodsky was renowned for founding entirely new fields of mathematics and creating groundbreaking new tools for computers to confirm the accuracy of proofs. In his work using computers … he upended mathematical thinking to such a degree that he changed the meaning of the equals sign. Note: Sadly, Voevodsky passed away on Sep 30th 20172017
  58. 58. Progress: Crypto 3.0 IdeaGraph & SG Innovation Platform Symbiotic Genius Innovation Platform IdeaGraph (IdeaBlocks of Truths) M & S Truths General Relativity Special Relativity GPS Timing IdeaBlocks Math of Ideas To be Completed Ask Learn Choose MakeLook Play Think Fuse
  59. 59. More R&D Effort Needed to Deliver Moore’s Law
  60. 60. Next Steps
  61. 61. The Center for Brains, Minds and Machines (CBMM) is a multi-institutional collaboration, headquartered at Massachusetts Institute of Technology (MIT) with managing partner at Harvard University. http://cbmm.mit.edu/ MIT & Harvard Host a US$25M NSF-Funded Study of Intelligence
  62. 62. https://www.nsf.gov/awardsearch/showAward?AWD_ID=1231216&HistoricalAwards=false + Imagination ICO Proceeds for Basic Research: US$25 M + US$7.5 M = $32.5 M Per Consortium + Ideas
  63. 63. US Department of Defense Funds US$7.5M into Univalent Foundations Research To Reshape Mathematics http://www.cmu.edu/news/stories/archives/2014/april/april28_awodeygrant.html SG 1000: Complementary Research That Adds Ideas + Ideas
  64. 64. Innovation Creation Opportunity US$5 T US$50M (softcap & pre-tax) 100,000 X Potential Failures Primary Math-Based Approach Secondary Appreciation % Tremendous Returns, but only with Tremendous Risks
  65. 65. East Coast USA West Coast USA
  66. 66. Eric Schmidt, MIT Visiting Innovation Fellow (2018-2019) MIT President L. Rafael Reif announced that Eric Schmidt, who until January was the executive chairman of Google’s parent company, Alphabet, will join MIT as a visiting innovation fellow for one year, starting in Spring. The most recent visiting innovation fellow was former US Secretary of Defense Ash Carter. Other previous fellows have included Ethernet co-inventor and 3Com co-founder Bob Metcalfe ’68 and Former Massachusetts Governor Deval Patrick.
  67. 67. Meet (?) with Eric Schmidt, former CEO of Google Thesis Supervisor Erik Brynjolfsson Director Advisory Board MIT Initiative On the Digital Economy ide.mit.edu
  68. 68. US$13.9 B US$5.1 B US$3.3 B US$22 Billion Advisory Board http://ide.mit.edu/about-us/advisory-board
  69. 69. IdeaGraphs Surpass BlockChains (meta-flippening) Design Value Math
  70. 70. IdeaBlock: GPS Truths Transactions Einstein’s Truths Have Intrinsic Value; His TXs DO NOT Albert Albert Albert Special & General Theories of Relativity Prediction & Precision No Intrinsic Value
  71. 71. “On Distributed Communications”, Baran (1964) Seminal Research on Distributed Networks The Internet (Distributed Network) TX = transaction Simple Linear 1-dimensional Blockchain ≠State State1TX (Linear) Crypto 1.0 & Crypto 2.0 Complex Multi-dimensional IdeaGraph IdeaBlock ≈ Crypto 3.0’s IdeaGraph Richer & More Powerful Use of the Internet
  72. 72. Network Effects: Reed’s Law >> Metcalfe’s Law
  73. 73. Three Takeaways
  74. 74. $112 billion $4.8B $159 billion (2018 $) Which Internet Stock is This?
  75. 75. IdeaGraph Multi-dimensional Graph List of Links US$5B (2016) Search Graph Social Graph US$750B US$530B Blockchain List of Transactions State State1TX (Linear) If Crypto 1.0 & 2.0’s Blockchain ≈ Yahoo, then Crypto 3.0’s IdeaGraph ≈ Google & Facebook’s Graphs 2
  76. 76. Lessons for the Crypto-Enthusiasts Yahoo (List) Lost to Google & FB (Graphs) Declined to buy Google for $1 million1998 Offered $3 billion for Google, which wanted $5 billion 2002 2006 Offered $1 billion for Facebook, which wanted 10% more US$750 billion US$530 billion Total Lost $ Opportunities by Missing Out on Graphs (Google Search & FB Social) N-Dimensional IdeaGraph (theorems) 1-Dimensional Blockchain (transactions) >> ~US$1.3 trillion $
  77. 77. IdeaGraphs for Patents & Innovation  US$17 Trillion (1) Patent Protect Invention (2) Grow Innovation US$ Trillion $12.2 T = $2.9T (US) + $9.3 (others 15 20 10 5 0 $5 T $12.2T $17 Trillion * Increase GDP: 2004 & 2015 3
  78. 78. Increasing Global Productivity: a $7 Trillion Opportunity $7.2 Trillion
  79. 79. Event Probability of Success Value of Success* Expected Value BTC Reaches $1 M 0.01 100X 1X @ Different Valuations for Crypto 3.0 w/$50M softcap (=100% tokens) $5T 0.01 100,000X 900X $450B 0.01 9,000X 90X $45B 0.01 900X 9X BTC’s New ATH versus Crypto 3.0’s Success Expected Value Assumption: BTC @ $10,000 ETH’s Valuation: US$66 billion (2018-05-03 * Relative to investment
  80. 80. Compasses, Not Maps http://blog.media.mit.edu/2012/07/compasses-over-maps.html MIT Media Lab Compasses Over Maps
  81. 81. We are all agreed that your theory is crazy. The question that divides us is whether: is it crazy enough to have a chance of being correct? Niels Bohr, Physics Nobel Prize (1922) Is This Crazy Enough? If you’re not doing some things that are crazy, then you’re doing the wrong things. Larry Page
  82. 82. Steve Jobs – The Crazy Ones https://www.youtube.com/watch?v=8rwsuXHA7RA
  83. 83. 100,000X ROI Crypto 3.0 Science & Technology Speculation vs Investment $400B  0 0  $5 Trillion Einstein’s Theories of Relativity E=MC2 Banking & Business Crypto 1.0 Crypto 2.0 ETH With INTRINSIC VALUE NO INTRINSIC VALUE CHOICE IdeaGraph IdeaBlocks of Truths* Blockchain blocks of transactions $400B  0 Prediction Precision * Math & Science
  84. 84. Appendices
  85. 85. Google & FB (~ US$1.3 Trillion) Rely Upon Graphs Search Graph Social Graph
  86. 86. http://www.zerohedge.com/news/2017-05-25/visualizing-how-big-5-tech-giants-make-their-billions Have ~ 20 % of the US$530 Global Advertising Market GOOG + FB ~ US$1.3 Trillion Valuation (May 2018) Dominate the US$530 B Global Advertising Market
  87. 87. John Wanamaker said, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” Search engines and social media companies are experts at collecting data and offering it to robotic buyers. This system reduces Mr. Wanamaker’s waste. Google and Facebook Solve The (Which ½ of the $?) Advertising Problem
  88. 88. Search Graph Social Graph US$750 Billion US$530 Billion Google and Facebook Use Graphs (mathematics) To Solve Advertising Problem As of May 2018
  89. 89. YCombinator Science is the Key to US$Trillion Returns
  90. 90. Most people want to be accepted, so they won’t take risks that could make them look crazy— which actually makes them wildly miscalculate risk.” Sam Altman, CEO YC Combinator you couldn’t have a trillion-dollar enterprise without major scientific advances http://www.newyorker.com/magazine/2016/10/10/sam-altmans-manifest-destiny $31 B $10 B $Trillion Enterprise Need Major Scientific Advances
  91. 91. Mathematics (foundation across sciences) Physics OthersComputer Science Unreasonable Effectiveness of Mathematics : Wigner, 1963 Physics Nobelist Galileo - the laws of nature are written in the language of mathematics Science & Technology Patents Should Use Mathematics (the Language of Science & Technology)
  92. 92. Crypto 3.0 is at NASA TRL 0+ Crypto 3.0
  93. 93. Gates @ Microsoft Got Windows Right only on the 3rd Try Windows 3.X Crypto 3.0
  94. 94. Vitalik Buterin: Power is a Zero-Sum Game Buterin mused to Backchannel in 2016 that "ultimately power is a zero sum game." Power Wealth * Creating New Power Requires Creating New Wealth * there's only so much of it to go around. "And if you talk about empowering the little guy, as much as you want to couch it in flowery terminology that makes it sound fluffy and good, you are necessarily disempowering the big guy. And personally I say screw the big guy. They have enough money already." * ML Comments
  95. 95. Who’s A Big Guy? US$5.96 US$1,389 ~230X
  96. 96. Timeframe GDP Growth GDP Growth Per 1 Yuan Credit 2003-2008 11% 1 2009-2010 1/2 (0.5) 2015 1/4 (0.25) 2016 1/6 (0.16) Comparison with the US for every $1 of new federal debt undertaken, the US achieved $0.44 cents of economic activity or "growth". China’s Debt Problem
  97. 97. USA 19th & 20th Centuries: Modern Research Uni Peer-Review UK 17th Century Meta-Idea: Patents & Copyrights Prior Meta-Ideas That Improved the World
  98. 98. Perhaps the most important ideas of all are meta-ideas. These are ideas about how to support the production and transmission of other ideas. The challenge now facing … industrialized countries is to invent new institutions that encourage a higher level of applied, commercially relevant research and development in the private sector http://www.econlib.org/library/Enc1/EconomicGrowth.html Paul Romer Ex-Chief Economist World Bank … the country that takes the lead in the twenty-first century will be the one that implements an innovation that more effectively supports the production of new ideas in the private sector. Second, new meta-ideas of this kind will be found Countries that Produce Meta-Ideas Can Lead the World
  99. 99. Another delegate who had a separate conversation with the head of the Russian group remembers a slightly different wording: “The internet belonged to America. The blockchain will belong to the Russians.” https://www.nytimes.com/2018/04/29/technology/blockchain-iso-russian-spies.html
  100. 100. 0 1 2 3 A B CX Null A B C A B C A B C A B C A B C A B C A B C Collections: 1st Order A B C Connections : 2nd Order Metcalfe’s Law For Each Collection 0 0 0 1 1 1 3 1st and 2nd Order Network Effects. N = 3
  101. 101. https://www.economicshelp.org/blog/8968/uncategorized/cause-deflation/ Deflationary Currency versus Deflationary Creativity
  102. 102. Deflationary Creativity Deflationary Currency Category Process Product Condition Dynamic Static Threshold Responsive Arbitrary Limit Deflationary Currency versus Deflationary Creativity
  103. 103. inflation is always and everywhere a monetary phenomenon There is one and only one basic cause of inflation: too high a rate of growth in the quantity of money. Doesn’t Imply that Deflation “is always and everywhere a monetary phenomenon” Friedman Focused Upon Inflation
  104. 104. Soaring Human Imagination with Machine Intelligence + Imagination + Ideas Intelligence + Imagination + Ideas
  105. 105. EU General Data Protection Regulation Conflict with Blockchain Immutability
  106. 106. Mental Powers Intelligence Imagination Logic Will Get You From A to Z Imagination Will Take You Everywhere Einstein Human (Augmented) Intelligence Machine Intelligence1 Human (Augmented) Imagination Superpower Soaring Human Imagination With Machine Intelligence1 It is by logic that we prove, but by intuition that we discover Henri Poincare 1 Machine Intelligence ~ Artificial Intelligence 2 Inspired by Ada Lovelace Symbiosis2
  107. 107. 1st Machine Age Augment Muscle Process Information Provide Intelligence Augment Human Intel Replace Human Intel Widespread Unemployment Pockets of Prosperity Human Imagination w/Machine Intelligence (Symbiotic Genius) Pervasive Prosperity 2nd Machine Age Augment Mind Future: 2018 → Contrasting Futures Stimulate & Generate Ideas  Value Augment Imagination Superpower of Human Imagination with Machine Intelligence → Pervasive Prosperity
  108. 108. ? & √

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