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This particular documentary is really good. One of my favorites!

Great comment and actually, I see what you mean. This is true, that almost all tech (past and present) is based on some other technology or scientific findings preceding it. Some of the posts in this thread have basically changed my mind haha. P.s. that quote wasn't from Thiel, it was from Kasparov... Just felt the need to defend the genius that is Peter Thiel :)

This is very true. After the cold war and the space race, our greatest of minds seem to have gravitated towards finance (Quants, Financial Engineers, etc.). Capitalism at it's finest, I guess. For example; Renaissance Technologies; a HFT Fund that primarily hires PhD grads from the fields of Physics, Math, Computer Science, etc. to develop the algorithms used for their HFT Black Boxes... robbing the world a penny at a time; millions of times a second.

I guess there's a difference in definition here when we`re talking about the word "innovation". I agree with what most of you are saying that there is great development in technology; no doubt about that. I also think that quote from Kasparov is an overstatement. However, I still feel that ALOT (not all) of what is being mentioned on this thread is horizontal technology & innovation (diagonal at best). Software is still 0's and 1's. The newest devices we talking about (iPhones, etc.) are still just a series of logic gates at their very core. I know this may become cause for controversy; but I still see our latest and greatest phones, tablets, computers as glorified Casio calculators. I don't mean to undermine these technologies b.c. I'm as amazed as the rest of us at the capabilities of these devices. I think 'smarter' software and electronics would entail some higher form of self-learning Artificial Intelligence of some kind. However, I think that all of our great software, etc. of today (though undeniably better than before, MUCH BETTER) is still at the very core just an algorithm bound by the limitations of its "Software Operation/Requirements" list. There is work on things like Neural Networks and Quantum computing for example which promises to radically change all that we call electronics technology, but that hasn't happened (yet!). Also, I agree about the fields of Genetics, Nanotech and I guess 3D printing, have been pretty "innovative" fields but the scale of pure Innovation may be faltering, no? REF: http://blakemasters.com/post/20400301508/cs183class1 By Peter Thiel's definition; Innovation (and NEW technology) is the "0 to 1" problem, which has lost a lot of focus. A lot of what we're doing now is "globalization"; improving and iterating; this is the "1 to n" problem. I'm not saying that the latter isn't important. I'm saying that I agree with Thiel in that true "innovation" is running low. lol. Yeah, no paradigm shifts, just lots and lots of rapid iterative improvement. Although it's a little mind blowing to think about what a paradigm shift would be like in this day of age. Infinite energy sources? Speed of light travel? Dunno... All seems pretty sci-fi to me... Hrm... After doing a bit of research on wikipedia, it looks like even Semmelweis, the precursor to Pasteur, was even "standing on the shoulders of giants". Maybe all "innovation" is just iterative improvement? Amen! :)

Great documentary with Garri Kasparov (former world Chess Champion, Russian politician, great thinker) and Peter Thiel (PayPal, Facebook Investor, overall awesome genius, great thinker). http://youtu.be/2TQwAr7lysw Some of it is in German but it's well worth watching I think. Come to think of it, there really hasn't been much ground-breaking innovation lately. Computers aren't getting smarter per se, just faster (see Moore's law); this was basically the reason that Kasparov was beaten by Deep Blue (computer) in Chess. Not much has happened in the last three decades that can rival things like the moon landing, the first flight, the creation of the internal combustion engine, the development of the first electronic computers (and eventually affordable personal computers) Instead, personally, what I see too much of (even at tech and "entrepreneurial" conferences) is just people running around developing damn "apps"... no real innovation in my eyes. However, Elon Musk (and a few others) is showing some progress :)

Seems our formerly tech shy Mr. Buffett's joined the Twitter world. Verified account and everything. With Bill Gates tweeting at him already.

I like what you're saying here. In case you haven't seen it, here's a video that I feel is somewhat connected to what you're saying about ego: Giving up false egos and prejudgement could do the world good. Definitely connected to the 2007-2008 financial crisis.

Have you looked at what's on TV? Divorce rates? Single and unwed parents? Acceptable drug use? A book that talks a bit about the change in culture is "Quiet: The Power of Introverts in a World that Can't Stop Talking." She goes in some depth about how, at one time, we were a culture of character (Buffett's generation and prior). Doing the "right" thing was championed. Now, we are more of a culture of personality (people like Kim Kardashian). Where we value what gets are attention compared to what's intrinsically motivating. I totally agree that what's on tv is scary, but as Peter Diamandis explores in the following video, maybe it's a bit of an over representation. I mean I totally agree things are bad (and I do agree that the likes of Kim kardashian are rotting at the morals of our society) but I think things haven't really gotten worse, if anything there's a lot that's gotten better. As the video shows, majority of the people living under the poverty line still have access to things that were a luxury even 10 to 20 years ago. I think the world requires a great deal of work, for sure, I'm right with you on that, but maybe the media isn't the best representation for the current state of affairs. Just my two cents(in collaboration with Mr. Diamandis) :) Here's the video: P.s. even things like the Sandy Hook shootings and the Boston Marathon Bombing, as bad as they are (with much respect to the departed), I think they made to seem much worse because of what is over coverage by the media in my view. Constant coverage of such things by the media, I think, just promotes fear and leads to increased anxiety and other issues among people. Also, speaking of Kim Kardashian, haven't the masses always wanted a means to get a glimpse into the life of superstars and royalty (in exchange further enriching and idolizing such people). I mean I love this sorta discussion (on society and morals) but I feel like a lot of people just would much rather read about the new poodle Kim Kardashian just bought or something. Question: Do you have any sort of ideas as to how the morals of society can be "improved"? (Improved in the general sense I guess meaning toward less greed, selfishness, doing the "right" thing, etc.) I love thinking about this question. Btw, I haven't read that Susan Cain book, but I've seen the TED talk, definitely a good one! yp, thanks for the video. I'll try to check it out in a bit. I'd suggest Cain's book. It's certainly a worthwhile read. She goes a bit into how things used to be versus how they are now. Popular books then included topics about improving ones character and the like. I think the only real way to improve morality is to value it. Unfortunately, there isn't a lot of money or fame to be made on that. :P This is so true. I think this is happening very slowly. As a child I was under the impression that we all should aspire to be filthy rich so we can buy nice cars and mansions. But as I started to learn about the likes of mr. Buffett, my views have significantly changed. So much so that every time I hear about the ridiculous extravagances of the billionaires of today, I cringe thinking at how much more could have been done of that money. The idea of "eqo" as a negative makes a lot of sense to me. I feel that even the most successful and wealthiest of people owe some part of their success to sheer luck, good fortune or what have you. But the meritocratic belief that "I am wealthy because I deserve it and those who are poor are lazy and fools" is very premature and highly egoistic in my view. I think there needs to be a shift towards humility and giving up foolish egos and snobbery. This books sounds great, I look forward to reading it this summer.

Have you looked at what's on TV? Divorce rates? Single and unwed parents? Acceptable drug use? A book that talks a bit about the change in culture is "Quiet: The Power of Introverts in a World that Can't Stop Talking." She goes in some depth about how, at one time, we were a culture of character (Buffett's generation and prior). Doing the "right" thing was championed. Now, we are more of a culture of personality (people like Kim Kardashian). Where we value what gets are attention compared to what's intrinsically motivating. I totally agree that what's on tv is scary, but as Peter Diamandis explores in the following video, maybe it's a bit of an over representation. I mean I totally agree things are bad (and I do agree that the likes of Kim kardashian are rotting at the morals of our society) but I think things haven't really gotten worse, if anything there's a lot that's gotten better. As the video shows, majority of the people living under the poverty line still have access to things that were a luxury even 10 to 20 years ago. I think the world requires a great deal of work, for sure, I'm right with you on that, but maybe the media isn't the best representation for the current state of affairs. Just my two cents(in collaboration with Mr. Diamandis) :) Here's the video: P.s. even things like the Sandy Hook shootings and the Boston Marathon Bombing, as bad as they are (with much respect to the departed), I think they made to seem much worse because of what is over coverage by the media in my view. Constant coverage of such things by the media, I think, just promotes fear and leads to increased anxiety and other issues among people. Also, speaking of Kim Kardashian, haven't the masses always wanted a means to get a glimpse into the life of superstars and royalty (in exchange further enriching and idolizing such people). I mean I love this sorta discussion (on society and morals) but I feel like a lot of people just would much rather read about the new poodle Kim Kardashian just bought or something. Question: Do you have any sort of ideas as to how the morals of society can be "improved"? (Improved in the general sense I guess meaning toward less greed, selfishness, doing the "right" thing, etc.) I love thinking about this question. Btw, I haven't read that Susan Cain book, but I've seen the TED talk, definitely a good one!

Have you looked at what's on TV? Divorce rates? Single and unwed parents? Acceptable drug use? A book that talks a bit about the change in culture is "Quiet: The Power of Introverts in a World that Can't Stop Talking." She goes in some depth about how, at one time, we were a culture of character (Buffett's generation and prior). Doing the "right" thing was championed. Now, we are more of a culture of personality (people like Kim Kardashian). Where we value what gets are attention compared to what's intrinsically motivating. I totally agree that what's on tv is scary, but as Peter Diamandis explores in the following video, maybe it's a bit of an over representation. I mean I totally agree things are bad (and I do agree that the likes of Kim kardashian are rotting at the morals of our society) but I think things haven't really gotten worse, if anything there's a lot that's gotten better. As the video shows, majority of the people living under the poverty line still have access to things that were a luxury even 10 to 20 years ago. I think the world requires a great deal of work, for sure, I'm right with you on that, but maybe the media isn't the best representation for the current state of affairs. Just my two cents(in collaboration with Mr. Diamandis) :) Here's the video: P.s. even things like the Sandy Hook shootings and the Boston Marathon Bombing, as bad as they are (with much respect to the departed), I think they made to seem much worse because of what is over coverage by the media in my view. Constant coverage of such things by the media, I think, just promotes fear and leads to increased anxiety and other issues among people.

I don't think I learned anything new from what he said here (after reading the snowball, etc.) but I think I learned a great deal from the way he said it. The level of patience and humility Mr. Buffett always exhibits is inspiring. Thanks for the post! :)

I recently learned about this new Toronto based energy start up called Hydrostor. They've developed a technology to store excess electricity developed from wind turbines at night (when there's low demand for this electricity) using compressed air in massive "accumulators" located under water. I think it's brilliant! The video on this pages explains the concept in detail: http://hydrostor.ca/technology/

I'm guessing you've heard of Dataroma but I'll post the link anyway for people who may not have: http://www.dataroma.com/m/home.php For those who don't know, it's a listing of the holdings (by # of shares & increase/decrease) of many of the top value investors (WEB, PW, Ackman, etc.). I don't think it's updated regularlly but it's a decent resource for raw ideas I think. :)

This sounds brilliant! Located in any major metropolitan area where such parents work, it seems like it would be a real hit! Parents who work in the area could drop off their kids right there and visit them during their lunch break or w/e. "High-end" would mean you could charge a fair bit and situate it in a nice location and hire the best of teachers. Hire instructors with degrees in early child development psychology, etc and use that as a major selling point and make such a Day-care into more of a brand than just a child care business. Awesome idea Kyle! I'm actually looking into doing some Small Business Marketing Consulting this summer instead of just getting a summer job (I'm still a student). I plan to approach small businesses and offer online marketing management services. I'm constantly using electronic social media (Facebook, twitter, etc.) and I think I'm somewhat versed in the field now. Also, I know the very basics of Search Engine Optimization which seems to me like it can be one of the greatest tools for small businesses. I could offer some help to small business owners on how to establish, enhance and profit from, a web presence. I won't need any capital for this kinda thing (not that I have any) which is why it would be perfect for me.

Definitely agree! Gun control is only a part of the solution in my view as well. ex: