This document summarizes a talk titled "AWager for 2016: How SoftwareWill Beat Hardware in Biological Data Analysis". The talk discusses how software approaches can outpace hardware for analyzing large biological datasets. It notes that current variant calling approaches have limitations due to being I/O intensive and requiring multiple passes over data. The talk introduces approaches using lossy compression and streaming algorithms that can perform analysis more efficiently using less memory and in a single pass. This could enable analyzing a human genome on a desktop computer by 2016 as wagered. The talk argues that with better algorithmic tools, biological data analysis need not require large computers and can scale with the information content of data rather than just data size.