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All entrepreneurial and technological ventures, according to a canonical paper by the productivity theorist Robert Gordon, face the closing of the world's "productivity frontier."
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George Gilder |
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Even though bitcoin may not, after all, represent the potential for a new gold standard, its underlying technology will unbundle the roles of money. This can finally clarify and enable the necessary distinction between the medium of exchange and the measuring stick. Disaggregated will be all the GAFAM (Google, Apple, Facebook, Amazon, Microsoft conglomerates)--the clouds of concentrated computing and commerce.
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George Gilder |
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Poverty, for example is primarily a matter of prospects and connections.
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George Gilder |
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Feeding on the air of entitlement of fading upper-class institutions that accomplish "little with a lot" of other people's funds, the Harvard initiative reflected the increasing inebriation of elite American education. Focusing on stopping progress, barring new power plants, dismantling chemical facilities, mobilizing against Israel, and other reactionary pursuits, Ivy institutions are pursuing the fancies of a declining intellectual and bu..
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George Gilder |
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When Homo sapiens came along, after all, the Neanderthals had a hard time, and virtually all animals were subdued. The lucky ones became pets, the unlucky lunch.
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George Gilder |
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The intellectuals of this era are simply blind to the reality of consciousness. Consciousness is who we are, how we think, and how we know.
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George Gilder |
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The blind spot of AI is that consciousness does not emerge from thought; it is the source of
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George Gilder |
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Thinking is conscious, willful, imaginative, and creative. A computer running at gigahertz speeds and playing a deterministic game like chess or Go is only a machine.
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George Gilder |
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Chaitin proved that physical laws alone, for example, could not explain chemistry or biology, because the laws of physics contain drastically less information than do chemical or biological phenomena.
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George Gilder |
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In his eighteenth-century system of the world, Newton brought together two themes. Embodied in his calculus and physics, one Newtonian revelation rendered the physical world predictable and measurable. Another, less celebrated, was his key role in establishing a trustworthy gold standard, which made economic valuations as calculable and reliable as the physical dimensions of items in trade.
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George Gilder |
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Turing showed that just as the uncertainties of physics stem from using electrons and photons to measure themselves, the limitations of computers stem from recursive self-reference. Just as quantum theory fell into self-referential loops of uncertainty because it measured atoms and electrons using instruments composed of atoms and electrons, computer logic could not escape self-referential loops as its own logical structures informed its ow..
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George Gilder |
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Yet I believe the Google system of the world will fail, indeed be swept away in our time (and I am seventy-eight!). It will fail because its every major premise will fail.
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George Gilder |
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heaped on the hapless American student to pay for a bloated academic establishment
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George Gilder |
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Oil-futures trading has risen by a factor of one hundred in some three decades, from 10 percent of oil output in 1984 to ten times oil output in 2015. Derivatives on real estate are now nine times global GDP. That's not capitalism, that's hypertrophy of finance.
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George Gilder |
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Renaissance's Medallion Fund has reportedly averaged a yield of roughly 40 percent every year, through up and down markets,
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George Gilder |
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after extracting the industry's highest fees--a vertiginous 5 percent of money under management and 44 percent of the profits--the Medallion Fund was said to be up 80 percent.
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George Gilder |
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Google after acquiring intimate knowledge of its technology may make a thousand-fold return over five to seven years. A firm such as Renaissance might make a thousand trades in a day harvesting the tiniest anomalies. With modest leverage and relentless twenty-four-hour trading around the globe,
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George Gilder |
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Aim at performance, and low cost will follow. Aim at low cost, and you will not achieve sufficient performance to have an enduring business. After a sufficient system is devised, demand will foster economies of scale and learning curves that bring the price down over time.
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George Gilder |
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demarche
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George Gilder |
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actual brains, which turn out be much more like sensory processors than logic machines.
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George Gilder |
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Google offers to its "customers" is free. Internet searches are free. Email is free. The vast resources of the data centers, costing Google an estimated thirty billion dollars to build, are provided essentially for free. Free is not by accident. If your business plan is to have access to the data of the entire world, then free is an imperative."
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George Gilder |
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Alphabet, is worth nearly $800 billion, only about $100 billion less than Apple. How do you get rich by giving things away? Google does it through one of the most ingenious technical schemes in the history of commerce. Page's and Brin's crucial insight was that the existing advertising system, epitomized by Madison Avenue, was linked to the old information economy, led by television, which Google would overthrow.
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George Gilder |
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Dmitry Buterin introduced his son to bitcoin, and Robert Russell, now CFO of Luminar, pushed Austin ahead in optics.
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George Gilder |