Lifeboat Foundation

It’s been awhile since the cost of gasoline topped $4 in the U.S. The national average hit $4.11 on July 11, 2008 and came close in May 2011 at $3.96. On New Years Day 2015, I drove through the night from Chicago to Boston. Despite the cold weather, the economics of fuel made it the best day for a road trip in years. I bought gas at a Pilot service station just off the Ohio Turnpike at $1.92/gallon. For me, it seemed like a bargain. Yet, 23 states charge less for gasoline than Ohio.

Now, at the end of May 2015, gas is rebounding from that low. Drivers on Memorial Day weekend faced the highest cost for gasoline of the year so far.

It’s tempting for politicians to advocate using tax breaks to smooth price spikes. With energy often surpassing the expense of food and rent and with so many individuals using fuel to make a living, reducing user fees or taxes during periods of very high fuel cost seems like the humane thing to do.

It seems humane, but it has the opposite effect. In fact, it is deeply punitive! That’s because the cost of gas is not an act of nature, nor even of free market economics. It is a product of cartels, special interests, conflict and FUD (fear, uncertainty and doubt). Offering relief during price spikes sustains demand while doing absolutely nothing to increase supply. This, in turn, exacerbates the spike, creates shortages for critical services and transfers enormous sums of money from consumers to producers. In effect, it is a free gift for producer nations.

Continue reading “Increase Gas Tax as Cartel Price Rises” »

“[T]he United States needs a more systematic way to help its bottled-up new-science innovators deliver their ideas to the world.”

A better way to deliver innovation to the world

Cryptocurrency aficionados have been discussing Bitcoin limitations ever since the blockchain buzz hit the street. Geeks toss around ideas for clearing transactions faster, resisting potential attacks, rewarding miners after the last coin is mined, and supporting anonymity (or the opposite—if you lean toward the dark side). There are many areas in which Bitcoin could be improved, or made more conducive to one camp or another.

Distinguished Penn State professor, John Carroll, believes that Bitcoin may eventually be marginalized due to its early arrival. He believes that its limitations will eventually be overcome by newer “altcoins”, presumably with improved mechanisms.

So, does progress in any of these areas threaten the reigning champ? It’s unlikely…

More than any other individual, Andreas Antonopoulos is the face of Bitcoin. We discussed this very issue in the outer lobby of the MIT Bitcoin Expo at which he was keynote speaker (March 2015). Then, we discussed it again, when I hosted his presentation at The Bitcoin Event in New York (also in March). He clearly and succinctly explained to me why it is unlikely that an altcoin will replace Bitcoin as the dominant—and eventually surviving—cryptocurrency…

Continue reading “Could Bitcoin be Dethroned by an Altcoin?” »

Human Capital Report 2015 WEF

“Can tech companies really offer better experiences than the taqueria, flower shop or dry cleaner down the street, while taking a cut for themselves? Not necessarily. Quality control is a challenge when the supervisor is just software.

Read more

Game-changing technologies can be a waste of money or a competitive advantage. It depends on the technology and the organization.

It seems like the term “game-changing” gets tossed around a lot lately. This is particularly true with respect to new technologies. But what does the term mean, what are the implications, and how can you measure it?

With regarding to what it means, I like the MacMillan dictionary definition for game-changing. It is defined as “Completely changing the way that something is done, thought about, or made.” The reason I like this definition is it captures the transformational nature of what springs to mind when I hear the term game-changing. This should be just what it says. Not just a whole new ball game, but a whole new type of game entirely.

Every industry is unique. What is a game-changer for one, might only be a minor disruption or improvement for another. For example, the internal combustion engine was a game-changer for the transportation industry. It was important, though less of a game-changer for the asphalt industry due to secondary effect of increased demand for paved roads.

Continue reading “Game-Changing Technologies” »

‘New Narratives: Innovation for Jobs’ is a series by i4j (Innovation for Jobs) and the GPA exploring perspectives on important topics that will impact the future of work, jobs and employment.

About i4j: (iiij.org/i4j) Innovation for Jobs conferences bring together individuals from the public and private sectors to discuss the changing economy. “We engage in initiatives creating structures for developing shared language across silos. The starting point for any innovation is the creation of shared language, enabling stakeholders and change agents to interact horizontally.”

This film was created at the Mountain View 2015 i4j Conference. What are your hopes and fears about the future of meaningful work?

Continue reading “Galactic Public Archives Presents: "New Narratives: Innovation for Jobs" the series” »

One of the things that I’ve always liked about Star Trek, is the concept of a galaxy spanning civilization. I would expect that before we ever get to that point, we will have a civilization that spans our solar system. Having a solar system spanning civilization has many advantages. It would give us access to resources many times greater than what is found here on Earth. It also provides the opportunity for civilization to expand, and in a worst case scenario, help ensure the survival of humanity.

Millions of people living in spacious environmentally controlled cities on planetary surfaces and in rotating cylinders in free space, with industry that extends from Mercury to the comets is to me, a grand vision worthy of an ambitious civilization. But trying to make that vision a reality will be difficult. The International Space Station has the capacity to house just six people and cost approximately $100B to put in place. With a little simple division, that works out to about $17B per inhabitant! If we used that admittedly crude figure, it would cost $17 trillion to build a 1,000 person habitat in Earth orbit. Clearly, the approach we used to build the ISS will not work for building a solar system civilization!

The ISS model relies on building everything on Earth, and launching it into space. A different model championed by Dr. Philip Metzger, would develop industrial capacity in space, using resources close to home, such as from the Moon. This has the potential to greatly reduce the cost of building and maintaining systems in space. But how to develop that industrial capacity? Remember we can’t afford to launch and house thousands of workers from Earth. The answer it would seem, is with advanced robotics and advanced manufacturing.

But is even this possible? The good news is that advanced robotics and advanced manufacturing are already being rapidly developed here on Earth. The driver for this development is economics, not space. These new tools will still have to be modified to work in the harsh environment of space, and with resources that are different from what are commonly used here on Earth. While learning to adapt those technologies to the Moon and elsewhere in the solar system is not trivial, it is certainly better that having to develop them from scratch!

Continue reading “The Robotic Double-Edged Sword” »

Quoted: “Ethereum’s developers believe their project will lead to the proliferation of programs they call “smart contracts,” in which the terms of an agreement are written in code and enforced by software. These smart contracts could carry out the instructions of a complex algorithm based on data feed—such as a stock ticker. They could facilitate practically any financial transaction, such as holding money in escrow or dispersing micropayments among autonomous machines. They could be used to create a peer-to-peer gambling network, a peer-to-peer stock trading platform, a peer-to-peer social network, a prenuptial agreement, a will, a standard agreement to split a dinner check, or a public registry for keeping track of who owns what land in a city.

Gupta predicts that these smart contracts will be so cheap and versatile that they’ll do “a lot of things that today we do informally,” and take on a lot of the “donkey work of running a society.””

Read the article here > http://reason.com/blog/2015/03/19/here-comes-ethereum-an-information-techn