timing your technology reflection
We know that a given animal with a mane is a horse, and that one with horns is a bull. Explains how technology is transforming conventional methods of human life, from the way we grow our crops, to how we communicate with one another. stfu and watch for those who watching rn alam ko na pinagagawa din kayo ng sir/mam nyo nga ganito hahahahah Explains that technology refers to a wide range of electronic materials and learning methods, including video production, distance learning, and smart classrooms. Well strip out all of the ad-supported news and portal features so you wont be distracted from using the free search stuff. And you know what? Ramadan is a time of spiritual reflection, devotion, and increased charity. After all, during a buildup, the downhole flow rate was rapidly approaching zero. Ummon addressed the assembly and said: I am not asking you about the days before the fifteenth of the month. Enough progress in one domain (particularly computing power), can sometimes make up for stasis in another domain. Integrated Cognitive Systems, Michie1970 (pg9396 of Michie, On Machine Intelligence): How long is it likely to be before a machine can be developed approximating to adult human standards of intellectual performance? (DARPA indeed saw itself as much like a VC firm.). Because of the winner-take-all dynamics, theres no way to solve the coordination problem of holding off on an approach until the prerequisites are in place: entrepreneurs and founders will be hurling themselves at an common goal like social networks or VR constantly, just on the off chance that maybe the prerequisites just became adequate and theyll be able to eat everyones lunch. First of all, you'd wake up late because your smartphone alarm no longer exists. Or were they lucky in trying at the right time, and merely captured all of the value, because a 99% adequate VR headset is worth 0%, and they added the final 1%? Online safety, security, ethics, and etiquette. They describe Heinrich Hrleins drug development programs & Thomas Edisons electrical programs as being strategically aimed at opportunities called reverse salients, taking necessary steps to solve bottlenecks which hold back the practical application of progress in areas. This, arguably, was the case for Michies own research. And there were plenty of lucrative search engine founders (is Jerry Yang still a billionaire? and less Similarly, the benefit of taking Moores law seriously is that one can plan ahead to take advantage of it24 even if one doesnt know exactly when, if ever, it will happen. But this animal does not figure among the domestic animals, it is not easy to find, it does not lend itself to any classification. The electric incandescent lightbulb was invented, reinvented, coinvented, or first invented dozens of times. In hindsight the things that worked look like good ideas and the ones that failed look stupid, but sadly its not that obvious at the time. What other lessons could we draw if we thought about technology this way? Future research on the equifinal configurations we proposebroad/nonselective for early movers and narrow/selective for late moverscould thus help resolve the debate about the link between timing and performance. Total page count over 20. After solving a problem, humanity imagines that it finds in analogous solutions the key to all problems. The three outstanding problems in physics, in a certain sense, were never worked on while I was at Bell Labs. Lets imagine a different scenario, where instead you were confident that home robotics were about to experience a huge growth spurt. However, people usually ignore the bad effects of technology that may lead to many problems in our . One idea is that a VC firm could explicitly track ideas that seem great but have had several failed startups, and try to schedule additional investments at ever greater intervals (similar to DS-PRL), which bounds losses (if the idea turns out to be truly a bad idea after all) but ensures eventual success (if a good one). Critical problems are the research questions, cast in terms of the concrete particulars of currently available knowledge and technique and of specific exemplars or models (eg. Ed Boyden on Minding your Brain (Ep. Starting a new pastime such as playing tennis, learning to paint, riding a horse, or listening to new types of music can provide a fun opportunity to reflect on what and how you are thinking and learning. Its a universal rule. On an individual level, ideas are worthless because so many others have them toomultiple invention is the rule, and not the exception. What does this analogy suggest? One thing that. There are some benefits and advantages associated or linked to having a day that is without the use of any technology. Jorge Luis Borges, Kafka And His Precursors (1951). But it was left to Eckert and Mauchly [16] several years later to rediscover and implement the conceptions of stored programs and conditional jumps, which had already been present in Babbages analytical engine [17]. As time passes, the number of options may open up, and any of them may bypass what was formerly a necessary or serial dependency which was fatal. Its only rocket science., Uber/Lyft/DiDi: Taxis & buses. Consider the ill-fated eToys.com or Pets.com: was the investor right to believe that Americans would spend a ton of money online such as for buying toys or dogfood? Well start off renting people a doomed format in a way inferior to our established competitor Blockbuster (which will choose to commit suicide by ignoring both mail order & Internet all the way until bankruptcy in 2010)8; this will (somehow) let us pivot to streaming, where we will license all our content from our worst enemies, who will destroy us the instant we are too successful & already intend to run streaming services of their ownbut thats OK because well just convince Wall Street to wait decades while giving us hundreds of billions of dollars to replace Hollywood by making thousands of film & TV series ourselves (despite the fact that weve never done anything like that before and there is no reason to think we would be any better at it than they are)., Or Github: Well offer code hosting services like that of SourceForge or Google Code which requires developers to use one of the most user-hostile DVCSes, only to FLOSS developers who are notorious cheapskates, and charge them a few bucks for a private version., SpaceX: Orbital Sciences Corporation has a multi-decade headstart but are fat and lazy; well catch up by buying some spare Russian rockets while we invent our own futuristic reusable ones. This, too, was an ill-conceived notion, because the flowmeter sensor could accurately record only a few minutes of data before the flow rate dropped below its accuracy range. Everything of importance has been said before by somebody who did not discover it. I was still commuting to Connecticut on the weekends and really did not know what was going to transpire on my return. Format and timing Fails to meet minimum page requirements Submitted late : Barely meets the 15 page minimum requirement. Information and Communication Technology covering the topics of: The current state of ICT technologies (i.e., Web 2.0, 3.0, convergent technologies, social, mobile, and assistive media) Online systems, functions, and platforms. Such a device would not have been aimed at the then unattainable goal of economic viability; but its successful demonstration might, just conceivably, have greatly accelerated matters when the time was finally ripe. Reindex into what, another doomed firm?). Without the funds for the fuel companies, we couldnt have flown anyway. Freds luck held again. The tempting deals are the bad ideas that look like good ideas, yet they ultimately contain some hidden flaw that reveals their true badness. At one time I considered writing a study of Kafkas precursors. Yes). That was inconceivable before because it would have been just so expensive to do that calculation. We ultimately chose to abandon our word choice, but the principle remains today: You have to be partly delusional to start a company given the prospects of success and the need to keep pushing forward in the wake of the constant stream of doubters. All the problems of the world could be settled if people were only willing to think. Reflection can be valuable when the workgroup uses it to learn more about impact and to catalyze action toward a destination. For my last 4 years in Schlumberger, I was permitted to work about 1 day a week with the U. of Houston, where I was appointed Director of the Petroleum Engineering Program. I think they were just early. When you reflect on your thoughts and actions, you gradually grow as a person. As it turned out, both sensors had done a fantastic job of capturing the hydraulic-hammer effect. Any good idea can be made to sound like a bad idea & probably did sound like a bad idea then5, and Bessemer VCs anti-profile is a list of good ideas which Bessemer declined to invest in. The Wanderer And His Shadow, In the Air: Who says big ideas are rare?, paid a pittance ~2000 to acquihire Netflix, Almost Wikipedia: Eight Early Encyclopedia Projects and the Mechanisms of Collective Action, Almost-Wikipedias and innovation in free collaboration projects: why did 7 predecessors fail?, An Oral History of Nintendos Power Glove, All the money in the world couldnt make Kinect happen: For a moment a decade ago, the game industry looked like a very different place, Forecasting Transformative AI: An Expert Survey, Ed Boyden on Minding your Brain (Ep. and what it isn't. Learning for the sake of learning. The paper I presented1 was later published in Water Resources Research, a groundwater hydrology journal. This explores all options initially but gradually homes in on the most profitable option to exploit most of the time, while still occasionally exploring all the other options once in a while, just in case; strictly speaking Thompson sampling will never ban an option permanently, the probability of selecting an option merely becomes vanishingly rare. Polarizing here could be reflect a wide posterior value distribution, or if the posterior is being approximated by something like a mixture of experts or an ensemble of multiple models (like running multiple passes over a dropout-trained neural network, or a bootstrapped neural network ensemble). January 19, 2020. You however know what ignorance can trigger and how to deal with ignorance and purpose. Learn more with Olympus. Or take niche visionary technologies: if cryonics was correct in principal, yet turned out to be worthless for everyone doing it before 2030 (because the wrong perfusion techniques or cryopreservatives were used and some critical bit of biology was not vitrified) while practical post-2030 say, it would simply be yet another technology where visionaries were ultimately right despite all nay-saying and skepticism from normals but nevertheless wrong in a practical sense because they jumped on it too early, and so they wasted their money. The lesson of history is that for every lesson, there is an equal and opposite lesson. Cer- ogy investments because it allows one to Can you ask researchers if the time is ripe? I told him he was right, but that pressure data were quite noisy, that the analytical solutions were differentiable, but surely not real, data. You dont have to be bipolar to be an entrepreneur, but it might help. Nicols Gmez Dvila, Nicols Gmez Davila: An Anthology (original: Escolios a un Texto Implcito: Seleccin, p.430). As Bill Gates says, I can give you fifty examples of ideas theyve had where, if you take just one of them, youd have a startup company right there. Indeedthat this model works demonstrates the commonness of multiples, the worthless of ideas, and the moral bankruptcy of the current patent system., At the margin, compared to other competitors in the VR space, like Valves concurrent efforts, and everything that the Rift built on, did Luckey and co really create ~$2.95$2.302014b of new value? The timing software figures out what race number the ID corresponds to and adds a timestamp for that race number. Open Document Technology, and its underlying aspects affect all of us as we go through the continuum of time. Our respected leader admitted his culpability to the Federal Express board of directors and to the investors and lenders we were counting on to support the second round of the private placement financing. If you knew for certain that Facebook would be as huge as it was, what stocks, exactly, could you have invested in, pre-IPO, to capture gains from its growth? Example: in retrospect, we know everyone wanted computers, OSes, social networksbut the history of them is strewn with flaming rubble. The loan guarantee from General Dynamics raised our hopes and increased our spirits, but also increased the pressure to finalize the private placement. While each time a failed option is tried, it may seem irrational (how many times must VR fail before people finally give up on it), it was still rational in the big picture to give it a try, as this collective strategy collectively minimizes regret & maximizes collective total long-term returnsas long as failed options arent tried too often. On phones! Time and race number: done. With optogenetics, people were trying to control brain cells with light going back to 1971. Without technology eradicated disease such as smallpox or the Spanish flu could have been still rampant since the 1800's. Getting a simple cold could be life threatening without technology. Three decades later, the book is highly dated, and the descriptions are of mostly historical interest for the development of various technologies (particularly in the 1990s). Reflections on Technology In the modern world, big and better technologies have been invented. Previously, Ms. Ehlig-Economides has taught at Texas A&M University, Stanford University and the University of Alaska, Fairbanks. The Journal of Petroleum Technology, the Society of Petroleum Engineers flagship magazine, presents authoritative briefs and features on technology advancements in exploration and production, oil and gas industry issues, and news about SPE and its members. Yet the principle of unripe time, distilled by F. M. Cornford [15] more than half a century ago from the changeless stream of Cambridge academic life, has provided the epitaph of more than one premature technology. 30 years later, its the same headlines. : Custom Type-Curve Generation for Pressure Transient Analysis of Elongated Linear Flow Systems,, Moran, J.H., and Finklea, E.E. I have learned the underlying principles and techniques in designing and creating your web page using different web editors. Even the major oil companies give lip service to the claim. (TML). Even the Mississippi Company worked out: The ships that went abroad on behalf of his great company began to turn a profit. Today, I am not really a proponent of type-curve matching per se, but rather with using the derivative response to recognize flow regimes.13 We now can use data processing originally designed for convolution or deconvolution of downhole pressure and flow-rate data for analysis of production data.14 This approach is particularly effective in wells with permanent gauges. These are tempting, but likely cant generate outsize returns because they are simply too obvious and invite too much competition that squeezes out the economic rents. In my first draft of this essay in 2012, I noted that we see what looks like a Bitcoin bubble as the price inflates from ~$0 to $171.5$130.02012yet, if Bitcoin were the Real Deal, we would expect large price increases as people learn of it and it directly gains value from increased use, an ecosystem slowly unlocking the fancy cryptographic features, etc. Do you have the capital to start a VC fund of your own, and throw multi-million-dollar investments at every social media until finally in 2010 you knew for sure that Facebook was the winning ticket and could cash out in the IPO? Why is their knowledge so useless? Was the technological power just not sufficient 30 years ago?, [On the Nintendo Power Glove, based on a VPL dataglove design:] 15, JL: Both I and a lot of other people really, really wanted to get a consumerable version of this stuff out. Rather, this is how the process of invention and creation works. This has historically been less typical in the venture world, but, increasingly, as entrepreneurs take on more established industriesparticularly those that are regulatedbringing a view of the market that is unconstrained by previous professional experiences may in fact be a plus. ARPA-E PDs tend to agree with the bulk of reviewers, and they also tend to agree with scores in the upper tail of the distribution. So I read a lot of old papers. The small groups simply polluted the genetic literature with false positives, which are still gradually being debunked and purged. Maybe somebody found a new gene. There were 272 automobile companies in 1909. Brand summarized the projects he saw there and Lab members extrapolations into the future which guided their projects, and added his own forecasting thoughts. ExxonMobil, along with General Electric and Schlumberger, provides major research support to Stanford U. in the Global Climate and Energy Project. From 1980 to 1983, she was an assistant professor at the U. of AlaskaFairbanks, where she became Petroleum Engineering Dept. Moores law really just changes again and again, it re-factors your options in really subtle and interesting ways., Kevin Kelly: Our sense of history in this world is very dim and very short. The flow rate showed a very clear oscillation, and there was a concern that the meter had malfunctioned. Its a weird perspective to take, but we can think of other technologies which may be like this. A predictable waste of money, perhaps, but thats how the incentives work out. Thiel (Zero to One; original): Every moment in business happens only once. She has since been appointed to the Albert B. Stevens Endowed Chair in Petroleum Engineering at Texas A&M U. Ehlig-Economides has received numerous awards from SPE and was elected to the Natl. The Wanderer And His Shadow, Human, All Too Human., Nathan Myhrvolds patent troll company Intellectual Ventures is also featured in Malcolm Gladwells essay on multiple invention, In the Air: Who says big ideas are rare?; IVs business model is to spew out patents for speculations that other people will then actually invent, who can then be extorted for license fees when they make the inventions work in the real world & produce value. This suggests that ARPA-E PDs are more likely to select proposals that were highly-rated by at least one reviewer, but they are not deterred by the presence of a low rating. (All of which was doubtless why Page & Brin tried & failed to sell Google to AltaVista & Excite & Yahoo early on, and negotiated a possible sale with Yahoo as late as 2002 which they ultimately rejected.) Scott et al 2019, McKenzie&Sansone2019). It may be easier said than done, but one of the biggest factors in taking time to reflect should be stillness and, if possible, solitude. One theme I notice in many systems is that they follow a multi-level optimization structure where slow blackbox methods give rise to more efficient Bayesian inference. Theyd been known for decades. Our signature selling point will be that it takes fewer lines of code to set up, so programmers will like us., LinkedIn: Well do social networking like has been already patented by SixDegrees.com, forcing us to buy their patent., Slack: IRC+email but infinitely slower & more locked in. Can I conceive of a team better equipped to address the market needs that might walk through our doors tomorrow? The productivity boost expected from electric dynamos was slow to materialise, The evolution of large technological systems, #326, Part II. On the other hand, the largest groups, like 23andMe, have often been jealous of their data and made far less use of it than they could have, holding progress back for years in many areas like intelligence GWASes. Tariq, Syed M., and Ramey, H.J. Well, this class of molecules that we put into neurons hadnt been discovered yet. This overall problem falls under the reinforcement learning paradigm, and successful approaches are analogous to Thompson sampling/posterior sampling: even an informed strategy cant reliably beat random exploration which gradually shifts towards successful areas while continuing to take occasional long shots. This will work well for traditional interviews and those stations at the MMI which ask more traditional interview questions. timing the adoption of a new the strategic alternatives open to competing ing real option approach seems to provide a technology. Within industrial research organizationsand, implicitly, within academic onesHrlein called for special institutional arrangements to encourage appropriate interactions between chemistry and biomedicine. The study is a descriptive one based on qualitative research. Such an attitude is similar to the DARPA paradigm in fostering AI & computing, a rational process of connecting the dots between here and there intended to orchestrate the advancement of an entire suite of technologies, with responsibilities split between multiple project managers each given considerable autonomy for several years. Now BP is Beyond Petroleum. But just by trial and error, we found out how to do it, and the error was essential. Further, people in general appear to overexploit & underexplore, exacerbating the problemeven if the expected value of a startup (or experimentation, or R&D in general) is positive for individuals. What if you believed the story they were trying to tell us: that each year, as sure as winter follows summer, and day follows night, computers would get half again better, and half again smaller, and half again cheaper, year after year, and that in 5 decades they would be 30 million times more powerful than they were then, and cheap. Well differentiate with a funny safety video and by not being aholes. Maybe some other discovery from left field has changed how we think about things. Nanosystems on a chip, is said to be able to provide critical foundation to diagnostics biomarkers and point-of-care technologies as well as detection of pathogen. Her example of the pressure derivative demonstrates that something developed for an entirely different industry, the capacitance transducer (quartz pressure gauge) developed for low-vacuum research, can influence how a part of our industry operates.Andrew Lambert, Pillars of the Industry Editor. View 2 SanDisk Extreme Portab. It may be relevant to note that Musk did not found Tesla; the two co-founders ultimately quit the company., As late as 20072008, Blockbuster could have still beaten Netflix, as its Total Access program demonstrated, but CEO changes scuppered its last chance. Its not the consequence that makes a problem important, it is that you have a reasonable attack. Err For example, researchers have shown that time of day explains about 20 percent of the variance in human performance on cognitive tasks. Imagine it is 1965. You should maintain a formal tone, but it is acceptable to write in the first person and to use personal pronouns. I remain confident of this: I will see the goodness of the Lord in the land of the living. We tried something, or somebody else tried something, and it didnt work. In the 1980s, famed technologist Stewart Brand visited the equally-famed MIT Media Lab (perhaps the truest spiritual descendant of the MIT AI Lab) & Nicholas Negroponte, publishing a 1988 book, The Media Lab: Inventing the Future at M.I.T. We do not know what a unicorn is like. Similarly, if Reddit or Airbnb had been less successful, their uses of aggressive marketing tactics like sockpuppeting & spam would perhaps have led to trouble.. He is the reason I have had the courage and motivation to continue contributing to an industry that has never been all that eager to take women seriously, and I am the reason he became interested in petroleum engineering. It wont have cut and paste. Thiel uses the example of New France/the Louisiana Territory, in which the projections of John Law et al that it (and thus the Mississippi Company) would be as valuable as France itself turned out to be correctjust centuries later, with the benefits redounding to the British colonies. Directions: To better appreciate the influence and importance of technology to our daily lives, let us do an activity called "Timing Your Technology". I for one will admit it, when I wake up the first thing I do is reach for my smartphone. Technological forecasts are often surprisingly prescient in terms of predicting that something was possible & desirable and what they predict eventually happens; but they are far less successful at predicting the timing, and almost always fail, with the success (and riches) going to another. Once, Freds luck at the gaming tables of Las Vegas helped to save the company from financial disaster. Google: we are building the worlds 20th search engine at a time when most of the others have been abandoned as being commoditized money losers. You can see the smartphones come up again and again in TML, as the visionaries realize how transformative a mobile pocket-sized computer would be. Its Moores law. Neither of these technologies was a valid alternative to the use of the pressure derivative, but it took a few years for the industry to see it that way. I think most people are aware of fads/stampedes in investing, but the latter error is not so commonly discussed. and simple to express: After all, nonobvious ideas that could in fact become big businesses are by definition nonobvious. I knew immediately that Bourdet was really on to something. Before that, everyone relied strictly on finding a straight line on a Horner plot3 (Fig. Progress will happen and can be foreseen long before, but the details and exact timing are too difficult to get right, and the benefits of R&D is in laying fallow until the ripe time and their exploitation in unpredictable ways. Bourdet showed me the pressure and pressure-derivative type curves he had developed8 (Fig. While it is possible to understand that, under extreme pressure, Fred was acting to save Federal Express from almost certain bankruptcy, and even to empathize with what he did, it nevertheless appeared to be a serious breach of conductDecember1975 was also the month that settled the matter of the forged loan guarantee documents for the Union Bank. This is true but I would say it reverses the order (N to N+1? This is especially difficult as . For many claims, there is no way to invest in an idea except by going all in and launching a company, resulting in extreme variance in outcomes, even when the idea is good and the forecasts correct about the (eventual) outcome. She is internationally recognized for expertise in reservoir engineering, pressure-transient analysis, integrated reservoir characterization, complex well design, and production enhancement. Start small. Cook calls this cracking the nut. In this edition, we are reminded that rigorous technical work is one of the pillars of our industry. But recent estimates [9, 10], which are summarized in Tables 7.1 and 7.2, indicate that this is not so, and that the balance of advantage in terms of sheer information-handling power may eventually like with the computer rather than the brain. The solution to this apparent dilemma starts with the recognition that a business enterprise's value depends on the level and rate of growth of its cash flow. How often did I read in the 90s and early 00s about how amazing Japanese cellphones were and how amazing a good smartphone would be, even though year after year the phones were jokes and used pretty much solely for voice? (How do you force all relevant companies to sell tradable stakes? And pity, because the sad thing is noting how few future millionaires or billionaires grace the page of TMLone quickly realizes that yes, person X was 100% right about Y happening even when everyone thought it insane, except that X was just a bit off, by a few years, and either jumped the gun or was too late, and so some other Z who doesnt even appear in TML was the person who wound up taking all the spoils. My partner Chris Dixon describes our job as VCs as investing in good ideas that look like bad ideas. Balakrishnan and B V Sreekantan. You cant possibly get a good technology going without an enormous number of failures. Companies timing your technology reflection we couldnt have flown anyway p.430 ), ideas are worthless because many! Error is not so commonly discussed electric and Schlumberger, provides major research support to U.... He had developed8 ( Fig Sansone2019 ) study of Kafkas Precursors turn a profit a. 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