Marc Andreessen

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pages: 532 words: 139,706

Googled: The End of the World as We Know It by Ken Auletta

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23andMe, AltaVista, Anne Wojcicki, Apple's 1984 Super Bowl advert, bioinformatics, Burning Man, carbon footprint, citizen journalism, Clayton Christensen, cloud computing, Colonization of Mars, commoditize, corporate social responsibility, creative destruction, death of newspapers, disintermediation, don't be evil, facts on the ground, Firefox, Frank Gehry, Google Earth, hypertext link, Innovator's Dilemma, Internet Archive, invention of the telephone, Jeff Bezos, jimmy wales, John Markoff, Kevin Kelly, knowledge worker, Long Term Capital Management, Marc Andreessen, Mark Zuckerberg, Marshall McLuhan, Menlo Park, Network effects, new economy, Nicholas Carr, PageRank, Paul Buchheit, Peter Thiel, Ralph Waldo Emerson, Richard Feynman, Richard Feynman, Sand Hill Road, Saturday Night Live, semantic web, sharing economy, Silicon Valley, Skype, slashdot, social graph, spectrum auction, stealth mode startup, Stephen Hawking, Steve Ballmer, Steve Jobs, strikebreaker, telemarketer, the scientific method, The Wisdom of Crowds, Upton Sinclair, X Prize, yield management, zero-sum game

CHAPTER 8: Chasing the Fox (2005-2006) 144 sixteen million monthly visitors; that number would quadruple over the next fourteen months: ComScore, BusinessWeek, November 5, 2007. 144 ”Sumner told Tom he did not want to get into a bidding war“: Julia Angwin, Stealing Myspace: The Battle to Control the Most Popular Website in America, Random House, 2009. 144 ”I think we have replaced MTV“: Tom Anderson in Der Spiegel, cited in Bill Wise, Search Insider, January 22, 2007, and Lotta Holmström in Grassroot Media, January 21, 2007. 145 ”I left“: author interview with Albie Hecht, January 15, 2008. 146 2005 study of media usage: ”Generation M: Media in the Lives of 8-18 Year-Olds,“ A Kaiser Family Foundation Study, March 2005. 146 A later study: Forrester Research report chart on YouTube and Internet use, Wall Street Journal, November 19, 2008. 147 Jason Hirschhorn was another Viacom refugee: author interviews with Jason Hirschhorn, February 12 and 21, 2008, and e-mail exchanges, March 2009. 149 Marc Andreessen has spent much of his life... an investor and board member: author interviews with Marc Andreessen, May 9, 2007, and June 9, 2008. 150 They named the site Ning: author interview with Andreessen, March 30, 2009. 150 ”I wouldn’t be sitting here without him“: author interview with Gina Bianchini, September 15, 2008. 150 ”You can talk about the economy“: author interview with Ben Horowitz, February 20, 2009. 152 thirty-four million monthly viewers: Nielsen/NetRatings, August 2006. 152 ”When we started“: author interview with Chad Hurley September 11, 2007. 153 ”If that works“: author interview with Eric Schmidt, June 11, 2008. 153 ”Right now“: Steve Ballmer Q&A with the editors of Business Week, October 11, 2006. 153 thirteen of the twenty most popular videos: Kevin J.

Helps Out Future of 3-D,” Advertising Age, March 13, 2009. 300 page one of the Los Angeles Times : Stephanie Clifford, “Front of Los Angeles Times Has an NBC Article,”’ New York Times, April 10, 2009. 301 “Wrestling had bigger audiences”: author interview with Robert Pittman, February 29, 2008. 301 “I think people are getting”: author interview with Marc Andreessen, June 9, 2008. 301 Each of the 40,000: author interview with Scott Heiferman, January 25, 2008. 301 “one quarter of CBS‘s”: author interview with Quincy Smith, September 16, 2008. 302 The online dating service: author interview with Barry Diller, March 3, 2009. 302 Mary Meeker predicts: author interview with Mary Meeker, January 23, 2009. 302 By mid-2008 China: “China’s Internet Cafes Still Crucial to Online Game Growth,” VentureBeat.com, August 17, 2008. 302 “PiperJaffray projected”: Matt Richtel and Bob Tedeschi in the New York Times, April 6, 2009. 302 “we want to get credit card numbers”: author interview with MarcAndreessen, March 27, 2008. 302 “the stealth device”: author interview with Ivan Seidenberg, October 30, 2008. 302 “social network traffic”: author interview with Eric Schmidt, June 11, 2008. 303 “We made one really big mistake”: author interview with Dr.

,” New Yorker, December 19, 2005. 305 “the kinds of stories”: author interview with Larry Page, March 25, 2008. 305During the wrenching transition to print: Clay Shirky blog, March 13, 2009. 306 “Sell it!”: author interview with Marc Andreessen, June 9, 2008. 307 more than a few papers “will disappear”: Rupert Murdoch speech at the D Conference attended by author, May 28, 2008. 307 He wrote that newspapers: Michael Hirschorn, “Get Me Rewrite!” Atlantic Monthly, December 2006. 309 “Apple’s iTunes”: author interview with Eric Schmidt, October 8, 2007. 309 “for newspaper companies”: author interview with Andrew Lippman, February 10, 2009. 309 “Can you put it behind a wall”: author interview with Marc Andreessen, February 20, 2009. 310 Attorney General Eric Holder: Randall Mikkelsen, “U.S. Law Chief Open to Antitrust Aid for Newspapers,” Reuters, March 18, 2009. 310 In 2009, three longtime media executives: Richard Perez-Pena, “Plans for a Paid Online Media Service,” New York Times, April 15, 2009. 310 an online publication: Jack Shafer, “Hello, Steve Brill, Get Me Rewrite,” Slate.com, April 17, 2009. 310 “I don’t know how”: author interview with Larry Page, March 25, 2008. 311 “We’ve been able”: author interview with Eric Schmidt, March 26, 2008. 311 income from digital operations:New York Times Co. financial disclosure for the year ending December 31, 2008. 311 About half of the About Group’s revenues: two author e-mail exchanges with Arthur Sulzberger, Jr., April 29, 2009. 311 “The official answer”: author interviews with Eric Schmidt, March 26, 2008 and April 1, 2009. 312 “Our industry faces”: author e-mail exchange with Arthur Sulzberger, Jr., April 29, 2009. 313 10 percent of these were downloaded: author interview with Jeff Bezos, July 9, 2008.


pages: 361 words: 81,068

The Internet Is Not the Answer by Andrew Keen

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3D printing, A Declaration of the Independence of Cyberspace, Airbnb, AltaVista, Andrew Keen, augmented reality, Bay Area Rapid Transit, Berlin Wall, bitcoin, Black Swan, Bob Geldof, Burning Man, Cass Sunstein, citizen journalism, Clayton Christensen, clean water, cloud computing, collective bargaining, Colonization of Mars, computer age, connected car, creative destruction, cuban missile crisis, David Brooks, disintermediation, Donald Davies, Downton Abbey, Edward Snowden, Elon Musk, Erik Brynjolfsson, Fall of the Berlin Wall, Filter Bubble, Francis Fukuyama: the end of history, Frank Gehry, Frederick Winslow Taylor, frictionless, full employment, future of work, gig economy, global village, Google bus, Google Glasses, Hacker Ethic, happiness index / gross national happiness, income inequality, index card, informal economy, information trail, Innovator's Dilemma, Internet of things, Isaac Newton, Jaron Lanier, Jeff Bezos, job automation, Joseph Schumpeter, Julian Assange, Kevin Kelly, Kickstarter, Kodak vs Instagram, Lean Startup, libertarian paternalism, lifelogging, Lyft, Marc Andreessen, Mark Zuckerberg, Marshall McLuhan, Martin Wolf, Metcalfe’s law, move fast and break things, move fast and break things, Nate Silver, Network effects, new economy, Nicholas Carr, nonsequential writing, Norbert Wiener, Norman Mailer, Occupy movement, packet switching, PageRank, Paul Graham, peer-to-peer, peer-to-peer rental, Peter Thiel, Plutocrats, plutocrats, Potemkin village, precariat, pre–internet, RAND corporation, Ray Kurzweil, ride hailing / ride sharing, Robert Metcalfe, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, Skype, smart cities, Snapchat, social web, South of Market, San Francisco, Steve Jobs, Steve Wozniak, Steven Levy, Stewart Brand, TaskRabbit, Ted Nelson, telemarketer, The Future of Employment, the medium is the message, the new new thing, Thomas L Friedman, Tyler Cowen: Great Stagnation, Uber for X, urban planning, Vannevar Bush, Whole Earth Catalog, WikiLeaks, winner-take-all economy, working poor, Y Combinator

“This is the epitome of luxury, convenience, and style.”116 “Uber is software [that] eats taxis,” an admiring Marc Andreessen stated in describing the San Francisco–based transportation service.117 Yet that’s not all it eats. Tom Perkins promised that Silicon Valley’s one percent entrepreneurs are “job creators.” But tens of thousands of taxi drivers around the world would disagree. Indeed, Uber is so disrupting the livelihoods of these professional taxi drivers that in June 2014 there were strikes and demonstrations in many European cities, including London, Paris, Lyon, Madrid, and Milan, against its introduction.118 And yet Uber remains an iconic company in Silicon Valley, where it is “seen as the messiah” and the next $100 billion Internet sensation by San Francisco’s tech crowd.119 Marc Andreessen certainly admires the customer-friendliness of the mobile service.

New York Times, July 19, 2014. 114 Will Oremus, “Silicon Valley Uber Alles,” Slate, June 6, 2014. 115 See Dan Amira, “Uber Will Ferry Hampton-Goers Via Helicopter This July 3rd,” New York, July 2013, nymag.com/daily/intelligencer/2013/07/uber-helicopter-uberchopper-hamptons-july-3rd.html. 116 Jessica Guynn, “San Francisco Split by Silicon Valley’s Wealth,” Los Angeles Times, August 14, 2013. 117 Paul Sloan, “Marc Andreessen: Predictions for 2012 (and Beyond),” CNET, December 19, 2011, news.cnet.com/8301-1023_3-57345138-93/marc-andreessen-predictions-for-2012-and-beyond. 118 Mark Scott, “Traffic Snarls in Europe as Taxi Drivers Protest Against Uber,” New York Times, June 11, 2014. 119 Kevin Roose, “Uber Might Be More Valuable than Facebook Someday. Here’s Why,” New York, December 6, 2013, nymag.com/daily/intelligencer/2013/12/uber-might-be-more-valuable-than-facebook.html. 120 Erin Griffith, “Meet the Uber Rich,” Fortune, June 5, 2014.

See also Jeff John Roberts, “Cabbies Sue to Drive Car Service Uber out of San Francisco,” GigaOm, November 14, 2012, gigaom.com/2012/11/14/cabbies-sue-to-drive-car-service-uber-out-of-san-francisco. 7 Salvador Rodriguez, “Uber Claims Its Cars Attacked by Cab Drivers in France,” Los Angeles Times, January 13, 2014. 8 Mark Scott and Melissa Eddy, “German Court Bans Uber Service Nationwide,” New York Times, September 2, 2014. 9 David Streitfeld, “Rough Patch for Uber’s Challenge to Taxis,” New York Times, January 26, 2014. 10 Paul Sloan, “Marc Andreessen: Predictions for 2012 (and Beyond),” CNET, December 19, 2011, news.cnet.com/8301-1023_3-57345138-93/marc-andreessen-predictions-for-2012-and-beyond. 11 Jordan Novet, “Confirmed: Uber Driver Killed San Francisco Girl in Accident,” VentureBeat, January 2, 2014. 12 Michael Hiltzik, “Uber Upholds Capitalism, (Possibly) Learns Downside of Price Gouging,” Los Angeles Times, December 16, 2013. 13 “Uber’s Snow Storm Surge Pricing Gouged New Yorkers Big Time,” Gothamist, December 16, 2013. 14 Aly Weisman, “Jerry Seinfeld’s Wife Spent $415 During Uber’s Surge Pricing to Make Sure Her Kid Got to a Sleepover,” Business Insider, December 16, 2013. 15 Airbnb’s investigation by US tax authorities is well documented.


pages: 364 words: 99,897

The Industries of the Future by Alec Ross

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23andMe, 3D printing, Airbnb, algorithmic trading, AltaVista, Anne Wojcicki, autonomous vehicles, banking crisis, barriers to entry, Bernie Madoff, bioinformatics, bitcoin, blockchain, Brian Krebs, British Empire, business intelligence, call centre, carbon footprint, cloud computing, collaborative consumption, connected car, corporate governance, Credit Default Swap, cryptocurrency, David Brooks, disintermediation, Dissolution of the Soviet Union, distributed ledger, Edward Glaeser, Edward Snowden, en.wikipedia.org, Erik Brynjolfsson, fiat currency, future of work, global supply chain, Google X / Alphabet X, industrial robot, Internet of things, invention of the printing press, Jaron Lanier, Jeff Bezos, job automation, John Markoff, knowledge economy, knowledge worker, lifelogging, litecoin, M-Pesa, Marc Andreessen, Mark Zuckerberg, Mikhail Gorbachev, mobile money, money: store of value / unit of account / medium of exchange, new economy, offshore financial centre, open economy, Parag Khanna, peer-to-peer, peer-to-peer lending, personalized medicine, Peter Thiel, precision agriculture, pre–internet, RAND corporation, Ray Kurzweil, recommendation engine, ride hailing / ride sharing, Rubik’s Cube, Satoshi Nakamoto, selective serotonin reuptake inhibitor (SSRI), self-driving car, sharing economy, Silicon Valley, Silicon Valley startup, Skype, smart cities, social graph, software as a service, special economic zone, supply-chain management, supply-chain management software, technoutopianism, The Future of Employment, underbanked, Vernor Vinge, Watson beat the top human players on Jeopardy!, women in the workforce, Y Combinator, young professional

As a result, Bitcoin: Andreessen, “Why Bitcoin Matters.” As Andreessen further describes: Brian Fung, “Marc Andreessen: In 20 Years, We’ll Talk about Bitcoin Like We Talk about the Internet Today,” Washington Post, May 21, 2014, http://www.washingtonpost.com/blogs/the-switch/wp/2014/05/21/marc-andreessen-in-20-years-well-talk-about-bitcoin-like-we-talk-about-the-internet-today/. The great innovation of Tim Berners-Lee: “Inventor of the Week Archive: The World Wide Web,” MIT, http://web.mit.edu/invent/iow/berners-lee.html. My hunch is that: Joichi Ito, “Why Bitcoin Is and Isn’t like the Internet,” LinkedIn Pulse, January 18, 2015, https://www.linkedin.com/pulse/why-bitcoin-isnt-like-internet-joichi-ito. As Marc Andreessen has described: Andreessen, “Why Bitcoin Matters.” There are now hundreds: “Crypto-Currency Market Capitalizations,” https://coinmarketcap.com/.

Once it was clear that Ebola: “Ebola Cases Could Skyrocket by 2015, Says CDC,” Centers for Disease Control and Prevention, Morbidity and Mortality Weekly Report 63, Washington Post, http://apps.washingtonpost.com/g/page/national/ebola-cases-could-skyrocket-by-2015-says-cdc/1337/. The actual number ended: Data Team, “Ebola in Graphics: The Toll of a Tragedy,” Economist, July 8, 2015, http://www.economist.com/blogs/graphicdetail/2015/02/ebola-graphics. The best approach to big data: Slaby, interview. CHAPTER 6: THE GEOGRAPHY OF FUTURE MARKETS Marc Andreessen writes: Marc Andreessen, “Turn Detroit into Drone Valley,” Politico, June 15, 2014, http://www.politico.com/magazine/story/2014/06/turn-detroit-into-drone-valley-107853.html#ixzz3SwRDqcxw. One of the world’s largest cybersecurity: Carol Matlack, Michael Riley, and Jordan Robertson, “The Company Securing Your Internet Has Close Ties to Russian Spies,” Bloomberg Businessweek, March 19, 2015, http://www.bloomberg.com/news/articles/2015-03-19/cybersecurity-kaspersky-has-close-ties-to-russian-spies.

But Bitcoin at its best could make fraud impossible unless one’s private key is stolen and make the thieves easy to find even if a key is stolen. The result could be a major drop in fraud. Furthermore, by codifying trust for high-value transactions, the blockchain could wipe out middlemen and friction in a variety of transactions, creating consumer surplus. On the global stage, it could also help bring frontier countries into the economic mainstream. As venture capitalist Marc Andreessen describes, there is an enormous space for Bitcoin to fill: “Only about twenty countries around the world have what we would consider to be fully modern banking and payment systems; the other roughly 175 have a long way to go. As a result, many people in many countries are excluded from products and services that we in the West take for granted. Even Netflix, a completely virtual service, is only available in about forty countries.


pages: 270 words: 79,068

The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers by Ben Horowitz

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Airbnb, business intelligence, cloud computing, financial independence, Google Glasses, hiring and firing, Isaac Newton, Jeff Bezos, Marc Andreessen, Mark Zuckerberg, move fast and break things, move fast and break things, new economy, nuclear winter, Peter Thiel, Productivity paradox, random walk, Ronald Reagan, Silicon Valley, six sigma, Steve Ballmer, Steve Jobs

We lined everything up for a major launch on March 5, 1996, in New York. Then, just two weeks before the launch, Marc, without telling Mike or me, revealed the entire strategy to the publication Computer Reseller News. I was livid. I immediately sent him a short email: To: Marc Andreessen Cc: Mike Homer From: Ben Horowitz Subject : Launch I guess we’re not going to wait until the 5th to launch the strategy. — Ben Within fifteen minutes, I received the following reply. To: Ben Horowitz Cc: Mike Homer, Jim Barksdale (CEO), Jim Clark (Chairman) From: Marc Andreessen Subject: Re: Launch Apparently you do not understand how serious the situation is. We are getting killed killed killed out there. Our current product is radically worse than the competition. We’ve had nothing to say for months. As a result, we’ve lost over $3B in market capitalization.

Mosaic was essentially a graphical interface to the Internet—a technology formerly only used by scientists and researchers. It amazed me. It was so obviously the future, and I was so obviously wasting my time working on anything but the Internet. Several months later, I read about a company called Netscape, which had been cofounded by former Silicon Graphics founder Jim Clark and Mosaic inventor Marc Andreessen. I instantly decided that I should interview for a job there. I called a friend who worked at Netscape and asked if he could get me an interview with the company. He obliged and I was on my way. During the first interviews, I met everyone on the product management team. I thought the meetings went well, but when I arrived home that evening Felicia was in tears. The Netscape recruiter had called me to give me some tips, and Felicia had answered.

Felicia suggested that maybe I could go back to school. Given that we had three children, she knew this was unrealistic, hence the tears. I explained that recruiters were not hiring managers, and that they might consider me despite my lack of proper business schooling. The next day the hiring manager called back to let me know that they wanted me to interview with cofounder and Chief Technical Officer Marc Andreessen. He was twenty-two years old at the time. In retrospect, it’s easy to think both the Web browser and the Internet were inevitable, but without Marc’s work, it is likely that we would be living in a very different world. At the time most people believed only scientists and researchers would use the Internet. The Internet was thought to be too arcane, insecure, and slow to meet real business needs.


pages: 222 words: 70,132

Move Fast and Break Things: How Facebook, Google, and Amazon Cornered Culture and Undermined Democracy by Jonathan Taplin

1960s counterculture, 3D printing, affirmative action, Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, American Legislative Exchange Council, Apple's 1984 Super Bowl advert, back-to-the-land, barriers to entry, basic income, battle of ideas, big data - Walmart - Pop Tarts, bitcoin, Brewster Kahle, Buckminster Fuller, Burning Man, Clayton Christensen, commoditize, creative destruction, crony capitalism, crowdsourcing, data is the new oil, David Brooks, David Graeber, don't be evil, Donald Trump, Douglas Engelbart, Douglas Engelbart, Dynabook, Edward Snowden, Elon Musk, equal pay for equal work, Erik Brynjolfsson, future of journalism, future of work, George Akerlof, George Gilder, Google bus, Hacker Ethic, Howard Rheingold, income inequality, informal economy, information asymmetry, information retrieval, Internet Archive, Internet of things, invisible hand, Jaron Lanier, Jeff Bezos, job automation, John Markoff, John Maynard Keynes: technological unemployment, John von Neumann, Joseph Schumpeter, Kevin Kelly, Kickstarter, labor-force participation, life extension, Marc Andreessen, Mark Zuckerberg, Menlo Park, Metcalfe’s law, Mother of all demos, move fast and break things, move fast and break things, natural language processing, Network effects, new economy, Norbert Wiener, offshore financial centre, packet switching, Paul Graham, Peter Thiel, Plutocrats, plutocrats, pre–internet, Ray Kurzweil, recommendation engine, rent-seeking, revision control, Robert Bork, Robert Gordon, Robert Metcalfe, Ronald Reagan, Sand Hill Road, secular stagnation, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, smart grid, Snapchat, software is eating the world, Steve Jobs, Stewart Brand, technoutopianism, The Chicago School, The Market for Lemons, Tim Cook: Apple, trade route, transfer pricing, trickle-down economics, Tyler Cowen: Great Stagnation, universal basic income, unpaid internship, We wanted flying cars, instead we got 140 characters, web application, Whole Earth Catalog, winner-take-all economy, women in the workforce, Y Combinator

It would revisit the entire issue of corporate lobbying, which has become a key mechanism by which incumbent firms protect themselves.” Monopoly, control of our data, and corporate lobbying are at the heart of this story of the battle between creative artists and the Internet giants, but we need to understand that every one of us will stand in the shoes of the artist before long. Musicians and authors were at the barricades first because their industries were the first to be digitized. But as the venture capitalist Marc Andreessen has said, “Software is eating the world,” and soon the technologists will be coming for your job, too, just as they will continue to come for more of your personal data. The rise of the digital giants is directly connected to the fall of the creative industries in our country. I would put the date of the real rise of digital monopolies at August of 2004, when Google raised $1.67 billion in its initial public offering.

Not since the turn of the twentieth century, when Theodore Roosevelt took on the monopolies of John D. Rockefeller and J. P. Morgan, has the country faced such a concentration of wealth and power. Peter Orszag and Jason Furman, economic advisers to President Obama, have argued that the fortunes created by the digital revolution may have done more to increase economic inequality than almost any other factor. Despite Marc Andreessen’s and Peter Thiel’s belief that the outsize gains of tech billionaires are the result of a genius entrepreneur culture, inequality at this scale is a choice—the result of the laws and taxes that we as a society choose to establish. Contrary to what techno-determinists want us to believe, inequality is not the inevitable by-product of technology and globalization or even the lopsided distribution of genius.

Various subreddits have been devoted to pornography, neo-Nazi propaganda, white power, Gamergate—all in the name of free speech. Since Reddit’s purchase by Condé Nast in 2006, the site has tried to rein in the most outrageous subreddits. But the task of reining in the ultralibertarian Reddit community became too much, and in the fall of 2011 Condé Nast sold off a large share of Reddit to a group led by Sam Altman, Peter Thiel, and Marc Andreessen. At the debate, Ohanian proudly mentioned his personal consumption of “free music and movies” available on the Internet, going so far as to say that musicians such as The Band need to earn their money from touring. From his point of view, Levon Helm had no right to make money from old recordings. Feeling that he may not have made a good argument at the conference, Ohanian wrote an open letter to me the next day, which Fast Company published.


pages: 146 words: 43,446

The New New Thing: A Silicon Valley Story by Michael Lewis

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Albert Einstein, Andy Kessler, business climate, Chance favours the prepared mind, creative destruction, data acquisition, family office, high net worth, invention of the steam engine, invisible hand, Jeff Bezos, Marc Andreessen, Menlo Park, pre–internet, risk tolerance, Sand Hill Road, Silicon Valley, Silicon Valley startup, the new new thing, Thorstein Veblen, wealth creators, Y2K

To do that he needed young software talent, and to that end he called a twentytwo-year-old not long out of the University of Illinois and new to the Valley named Marc Andreessen. Clark had seen a piece of software that Andreessen had helped write in college, called Mosaic. Mosaic enabled its user to travel around the Internet. Why anyone would wish to do so was at the time unclear. About the first thing Andreessen said was that he didn't want to make a business of Mosaic. Clark didn't care. His ambition was more inchoate than that. He needed to find some more software cowboys to replace the ones he'd left behind. "I was desperate to find some smart engineers because I knew I wanted to start a company," he says. "And Marc knew a bunch of them from school." For the next month or so Alex Slusky ate his dinners with Jim Clark and Marc Andreessen. Clark would spew ideas; Andreessen would jot them up in a business plan.

But the process by which he was excluded began immediately. Six months after he founded Netscape, Clark agitated for the company to go public. The company had few revenues, no profits, and a lot of new employees. No one else inside the company thought it should do anything but keep its head down and try to become a viable enterprise. ''Jim was pressing for us to go public way before anyone else," recalls Marc Andreessen. It turned out there was a reason for this. He'd seen a boat called Juliet. He wanted one just like it, only bigger. To get it he needed more money. By then the decision was not Clark's alone to make. The company had hired a big-name CEO, Jim Barksdale, and had a proper board of directors. Barksdale didn't want to go public. He thought the company had enough problems trying to figure out how to turn a profit without having to explain itself to irate shareholders.

The Page 86 venture capitalists on Sand Hill Road and the new CEO, Jim Barksdale, owned a few million shares each. In the end they made hundreds of millions of dollars from Netscape, and so had no reason to complain. But the young engineers whom Clark had pulled together to create the company also became rich. An engineer who joined Netscape in July 1995 was, by November, worth ten million dollars. Clark made certain that Marc Andreessen, the young inventor, did not suffer the same fate at the hands of the venture capitalists as he himself had twelve years before. After the IPO Andreessen, by then twenty-four, was worth eighty million dollars. Clark also made certain that by far the biggest stake in the companynearly one-quarter of the wholebelonged to Jim Clark personally. Clark became the Valley's newest billionaire. The speed with which Clark had made himself and a lot of other engineers rich created new forces of greed and fear in Silicon Valley.


pages: 290 words: 87,549

The Airbnb Story: How Three Ordinary Guys Disrupted an Industry, Made Billions...and Created Plenty of Controversy by Leigh Gallagher

Airbnb, Amazon Web Services, barriers to entry, Bernie Sanders, cloud computing, crowdsourcing, don't be evil, Donald Trump, East Village, Elon Musk, housing crisis, iterative process, Jeff Bezos, Jony Ive, Justin.tv, Lyft, Marc Andreessen, Mark Zuckerberg, medical residency, Menlo Park, Network effects, Paul Buchheit, Paul Graham, performance metric, Peter Thiel, RFID, Sand Hill Road, Saturday Night Live, sharing economy, side project, Silicon Valley, Silicon Valley startup, South of Market, San Francisco, Startup school, Steve Jobs, TaskRabbit, the payments system, Tony Hsieh, Y Combinator, yield management

Airbnb had found an audience, and it had started to grow; they had liftoff. In Silicon Valley start-up terms, Chesky, Gebbia, and Blecharczyk had achieved what’s known as “product/market fit,” a holy grail, proof-of-life milestone that a start-up hits when its concept has both found a good market—one with lots of real, potential customers—and demonstrated that it has created a product that can satisfy that market. Popularization of the term is often credited to Marc Andreessen, the celebrated technology entrepreneur–turned–venture capitalist–turned–philosopher-guru to legions of start-up founders in Silicon Valley. Thousands of start-ups fail trying to get to this point. Product/market fit is a key first achievement; without it, there is no company. Another way of saying this is Y Combinator’s mantra that the company has to “make something people want.” Whatever you call it, Chesky, Gebbia, and Blecharczyk had reached that critical juncture back in April 2009 when their “wiggles of hope” had graduated into a full-fledged revenue stream.

Chesky, Gebbia, and Blecharczyk, the executive team, and the company’s entire customer-service department, including a dozen or so who had flown in from remote posts, were there almost 24/7 in the coming weeks—they pulled in air mattresses, but no one laughed at the irony—and the founders had their entire team of advisers weighing in, too. Their newest investors, Andreessen Horowitz, split their duties into two shifts at one point, Jeff Jordan, general partner and new Airbnb board member, handling days and Marc Andreessen taking over for nights. (The megaround of funding had just been announced, and many felt it was the attention around the publicity of the news that caused EJ’s story to get picked up and go viral.) Yet everyone had a different opinion on how to handle the crisis. Some argued that taking any responsibility would just open the door to more complaints; others said the company should admit that it dropped the ball; still others said they should just retreat and stay completely quiet.

(A few months later, Airbnb increased the guarantee to $1 million.) He announced a twenty-four-hour customer hotline—something EJ had said they should have had in place—and said they were doubling customer support. All of this went against the advice Chesky was receiving. “People were, like, ‘We need to discuss this, we need to do testing,’” he said, “and I said, ‘No, we’re doing this.’” The one piece of advice he did take: Marc Andreessen, who gave the letter a close read at midnight, told Chesky to add his personal e-mail address to the letter of apology, and he added a zero, changing the guarantee from $5,000 to $50,000. (The San Francisco Police Department subsequently confirmed that it had made an arrest. Airbnb says there was a settlement in the case but declined to comment more than that.) Chesky’s primary takeaway from this experience: stop making decisions by consensus.


pages: 172 words: 46,104

Television Is the New Television: The Unexpected Triumph of Old Media in the Digital Age by Michael Wolff

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activist fund / activist shareholder / activist investor, barriers to entry, commoditize, creative destruction, disintermediation, hiring and firing, Joseph Schumpeter, Marc Andreessen, Mark Zuckerberg, Marshall McLuhan, Silicon Valley, Steve Jobs, telemarketer, the medium is the message, zero-sum game

The implication is that Rome burns while Moonves is paid, and yet, as though in deadpan support of his own larger point about video undergoing a digital revolution, Auletta adds that CBS’s share price was twenty times higher than at its lowest point in 2009 and that almost half of its revenues come “from its overseas sales, which totaled $1.1 billion last year, and from licensing deals with cable and digital platforms such as Verizon FiOS and Netflix; Netflix pays CBS and Fox about two hundred and fifty million dollars each to let it air programs from their archives.” This last is something of a diss at CBS’s falling advertising market, which in fact has remained relatively stable while adding a powerful nonadvertising income stream. Then Marc Andreessen, in his role as prominent digital proselytizer (and with his slate of investments dependent on this view of digital’s leveling of the old world), is up in Auletta’s narrative: The venture capitalist Marc Andreessen, who co-invented Mosaic, the first commercial Internet browser—it later became Netscape—told me, “TV in ten years is going to be one hundred per cent streamed. On demand. Internet Protocol. Based on computers and based on software.” He said that the television industry has managed the transition to the digital age better than book publishers and music executives, but “software is going to eat television in the exact same way, ultimately, that software ate music and as it ate books.”

No matter how successful—perhaps as a particular result of their success—each reflected the anxieties of an industry that was ever more frequently being told it was threatened on all fronts and, culturally speaking, totally yesterday. On the digital side, you had a less august but significantly more cocky group: Jordon Hoffner of YouTube; Kurt Abrahamsen and Adam Stewart from Google in Los Angeles (the home office had passed on the invitation); Mark Kvamme of the venture capital firm Sequoia Capital, which had backed the Web series Funny or Die; and Marc Andreessen, the creator of Netscape, on his way to being among the most significant and influential venture capital figures in Silicon Valley The imbalance was notable and uncomfortable for everyone— or at least for everyone on the old media side. There was, even, a kind of slack-jawed response—perhaps not least of all because Hollywood power is not used to being challenged—to the certainty, impatience, and what rather seemed like the advanced intelligence of the tech side.

It had the numbers, hence, of course, it would get the advertisers. No? The future only goes in one direction. (At the same time that BuzzFeed was making this argument, its editor, Ben Smith, was acknowledging that it probably wouldn’t be around in three years, or would have transformed into something else.) It’s the twenty-year promise: we’ll eat television’s lunch because, tautologically, we are the future. As per Marc Andreessen, it’s zero-sum. Brand advertising is not going to increase to support both television and digital media; therefore, one lives at the other’s expense. Because digital media is overwhelmingly ad supported, whereas half of television’s income comes from other sources, brand advertising is a particularly pressing issue for the digital business. Television’s largely imperturbable dominance ought to play against digital’s argument.


pages: 387 words: 112,868

Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money by Nathaniel Popper

Amazon: amazon.comamazon.co.ukamazon.deamazon.fr

4chan, Airbnb, Apple's 1984 Super Bowl advert, banking crisis, bitcoin, blockchain, Burning Man, capital controls, Colonization of Mars, crowdsourcing, cryptocurrency, David Graeber, Edward Snowden, Elon Musk, Extropian, fiat currency, Fractional reserve banking, Jeff Bezos, Julian Assange, Kickstarter, life extension, litecoin, lone genius, M-Pesa, Marc Andreessen, Mark Zuckerberg, Occupy movement, peer-to-peer, peer-to-peer lending, Peter Thiel, Ponzi scheme, price stability, QR code, Satoshi Nakamoto, Silicon Valley, Simon Singh, Skype, slashdot, smart contracts, Startup school, stealth mode startup, the payments system, transaction costs, tulip mania, WikiLeaks

That evening, everyone congregated for drinks on the Tortelita Terrace and then proceeded to dinner on an immaculately maintained lawn overlooking the scrubby mountains. This was the most casual dinner of the three-day event, with unassigned seating and a buffet to accommodate the guests arriving at uneven intervals. Wences took notice as the big names showed their faces: Twitter’s chief executive, Dick Costolo; LinkedIn’s founder Reid Hoffman; Rupert Murdoch’s son, James; and perhaps the most recognizable venture capitalist in Silicon Valley, Marc Andreessen, an enormous man with a shiny bald head. Wences found his way to a table with another budding Bitcoin nut, Chris Dixon, one of the up-and-coming stars at Andreessen’s firm, Andreessen Horowitz. The men quickly began comparing ideas. Dixon explained that he had gotten excited about the importance of the blockchain protocol as a new way of moving value around the world, just as the Internet protocol had provided a decentralized way to move information.

In the month before the Arizona conference, Thiel himself had been poking around in the virtual-currency space once again, looking for projects that might take advantage of the blockchain, without getting too bound up in a currency that could piss off government officials. Chris Dixon, Wences’s conversation partner at that Arizona dinner, had also been agitating to get his firm, Andreessen Horowitz, to look at cryptocurrency startups and had been finding a receptive ear in his boss, Marc Andreessen. They had both found their way to the new company being created by Jed McCaleb, the original founder of Mt. Gox. Jed’s new company, named Ripple, was a cryptographic network that could be used to send any currency, not just Bitcoins. That made it less threatening to governments and banks and more attractive to people like Andreessen and Thiel, who both offered small seed investments. But both of these key Silicon Valley figures were also getting more comfortable with Bitcoin itself.

In the spring of 2013, Balaji was quietly assembling a team of top engineers to build a Bitcoin mining chip that would go beyond anything that had been contemplated before—rolled out in data centers built exclusively for the 21e6 machines. If the chips worked as promised they would mint money for investors. This was a simple enough proposition, and the price of Bitcoin was rising fast enough that it attracted interest from venture capitalists who were still queasy about tying their firms to Bitcoin. Both of the founders of Andreessen Horowitz, Marc Andreessen and Ben Horowitz, signed up to put some of their own personal money into Balaji’s project, as did several of the original founders of PayPal, including Peter Thiel and David Sacks. Soon enough, Balaji was closing in on a $5 million fund-raising round. The Bitcoin arms race had begun. THE TYPE OF chip was not the only thing about Bitcoin mining that had changed since late 2010. Over the course of 2011 and 2012, more and more users were joining collectives that pooled their mining power.


pages: 515 words: 126,820

Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World by Don Tapscott, Alex Tapscott

Amazon: amazon.comamazon.co.ukamazon.deamazon.fr

Airbnb, altcoin, asset-backed security, autonomous vehicles, barriers to entry, bitcoin, blockchain, Bretton Woods, business process, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, clean water, cloud computing, cognitive dissonance, commoditize, corporate governance, corporate social responsibility, creative destruction, Credit Default Swap, crowdsourcing, cryptocurrency, disintermediation, distributed ledger, Donald Trump, double entry bookkeeping, Edward Snowden, Elon Musk, Erik Brynjolfsson, ethereum blockchain, failed state, fiat currency, financial innovation, Firefox, first square of the chessboard, first square of the chessboard / second half of the chessboard, future of work, Galaxy Zoo, George Gilder, glass ceiling, Google bus, Hernando de Soto, income inequality, informal economy, information asymmetry, intangible asset, interest rate swap, Internet of things, Jeff Bezos, jimmy wales, Kickstarter, knowledge worker, Kodak vs Instagram, Lean Startup, litecoin, Lyft, M-Pesa, Marc Andreessen, Mark Zuckerberg, Marshall McLuhan, means of production, microcredit, mobile money, money market fund, Network effects, new economy, Oculus Rift, off grid, pattern recognition, peer-to-peer, peer-to-peer lending, peer-to-peer model, performance metric, Peter Thiel, planetary scale, Ponzi scheme, prediction markets, price mechanism, Productivity paradox, QR code, quantitative easing, ransomware, Ray Kurzweil, renewable energy credits, rent-seeking, ride hailing / ride sharing, Ronald Coase, Ronald Reagan, Satoshi Nakamoto, Second Machine Age, seigniorage, self-driving car, sharing economy, Silicon Valley, Skype, smart contracts, smart grid, social graph, social software, Stephen Hawking, Steve Jobs, Steve Wozniak, Stewart Brand, supply-chain management, TaskRabbit, The Fortune at the Bottom of the Pyramid, The Nature of the Firm, The Wisdom of Crowds, transaction costs, Turing complete, Turing test, Uber and Lyft, unbanked and underbanked, underbanked, unorthodox policies, wealth creators, X Prize, Y2K, Zipcar

July 19, 2015. https://web.archive.org/web/19990427/http://nextmagazine.nl/ecash.htm. 4. http://nakamotoinstitute.org/the-god-protocols/. 5. Brian Fung, “Marc Andreessen: In 20 Years, We’ll Talk About Bitcoin Like We Talk About the Internet Today,” The Washington Post, May 21, 2014; www.washingtonpost.com/blogs/the-switch/wp/2014/05/21/marc-andreessen-in-20-years-well-talk-about-bitcoin-like-we-talk-about-the-internet-today/, accessed January 21, 2015. 6. Interview with Ben Lawsky, July 2, 2015. 7. www.economist.com/news/leaders/21677198-technology-behind-bitcoin-could-transform-how-economy-works-trust-machine. 8. www.coindesk.com/bitcoin-venture-capital/. 9. Fung, “Marc Andreessen.” 10. www.coindesk.com/bank-of-england-economist-digital-currency/. 11. Leigh Buchanan reports on the Kauffman Foundation research in “American Entrepreneurship Is Actually Vanishing,” www.businessinsider.com/927-people-own-half-of-the-bitcoins-2013-12. 12.

In that sense, she was our coauthor and this book would not have appeared, at least in its current comprehensible form, without her. For that, and for all the stimulation and laugh lines, we are very grateful. Our heartfelt thanks to the people below who generously shared their time and insights with us and without whom this book would not be possible. In alphabetical order: Jeremy Allaire, Founder, Chairman, and CEO, Circle Marc Andreessen, Cofounder, Andreessen Horowitz Gavin Andresen, Chief Scientist, Bitcoin Foundation Dino Angaritis, CEO, Smartwallet Andreas Antonopoulos, Author, Mastering Bitcoin Federico Ast, CrowdJury Susan Athey, Economics of Technology Professor, Stanford Graduate School of Business Adam Back, Cofounder and President, Blockstream Bill Barhydt, CEO, Abra Christopher Bavitz, Managing Director, Cyberlaw Clinic, Harvard Law School Geoff Beattie, Chairman, Relay Ventures Steve Beauregard, CEO and Founder, GoCoin Mariano Belinky, Managing Partner, Santander InnoVentures Yochai Benkler, Berkman Professor of Entrepreneurial Studies, Harvard Law School Jake Benson, CEO and Founder, LibraTax Tim Berners-Lee, Inventor, World Wide Web Doug Black, Senator, Canadian Senate, Government of Canada Perriane Boring, Founder and President, Chamber of Digital Commerce David Bray, 2015 Eisenhower Fellow and Harvard Visiting Executive in Residence Jerry Brito, Executive Director, Coin Center Paul Brody, Americas Strategy Leader, Technology Group, EY (formerly IoT at IBM) Richard G.

This seemingly subtle act set off a spark that has excited, terrified, or otherwise captured the imagination of the computing world and has spread like wildfire to businesses, governments, privacy advocates, social development activists, media theorists, and journalists, to name a few, everywhere. “They’re like, ‘Oh my god, this is it. This is the big breakthrough. This is the thing we’ve been waiting for,’” said Marc Andreessen, the cocreator of the first commercial Web browser, Netscape, and a big investor in technology ventures. “‘He solved all the problems. Whoever he is should get the Nobel Prize—he’s a genius.’ This is the thing! This is the distributed trust network that the Internet always needed and never had.”5 Today thoughtful people everywhere are trying to understand the implications of a protocol that enables mere mortals to manufacture trust through clever code.


pages: 455 words: 133,322

The Facebook Effect by David Kirkpatrick

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Andy Kessler, Burning Man, delayed gratification, demand response, don't be evil, global village, happiness index / gross national happiness, Howard Rheingold, Jeff Bezos, Marc Andreessen, Mark Zuckerberg, Marshall McLuhan, Menlo Park, Network effects, Peter Thiel, rolodex, Sand Hill Road, sharing economy, Silicon Valley, Silicon Valley startup, Skype, social graph, social software, social web, Startup school, Steve Ballmer, Steve Jobs, Stewart Brand, the payments system, The Wealth of Nations by Adam Smith, Whole Earth Review, winner-take-all economy, Y Combinator

Inside, in Zuckerberg’s precise and beautiful cursive script, were lengthy, detailed descriptions of features of the service he hoped to inaugurate in coming years—including what would become the News Feed, his plan to open registration to any sort of user, and turning Thefacebook into a platform for applications created by others. In some sections it became almost stream of consciousness, according to those who have read it. Even Zuckerberg occasionally notes in the margin, “This doesn’t seem to be going anywhere.” But for many of those who read it inside the company it seemed as weighty as Michelangelo’s sketchbook. A major new figure joined the life of the company around this time—investor and entrepreneur Marc Andreessen, who became a close adviser to Zuckerberg. Andreessen, one of Silicon Valley’s most revered innovators and entrepreneurs, had come to California as a mere boy, much like Zuckerberg, after he helped invent the first Web browser at the University of Illinois. He co-founded Netscape Communications and later two more important and successful companies, while investing in scores more. Matt Cohler and board member Peter Thiel introduced Andreessen to Zuckerberg, thinking he could help the young CEO figure out how to grow Thefacebook.

“It was one of those moments with a unique creative zeitgeist,” he says, “like jazz in New York in the 1940s or punk in the 1970s, or the first Viennese school of the late eighteenth century.” The conviction that this was history in the making led people to work even harder. The history was not being made by Facebook alone. The company was surrounded by other companies also creating a more social Internet. Just around the corner was Ning, funded by Marc Andreessen and building software that enabled anyone to create their own private little social network. Up in San Francisco, forty-five minutes to the north, Digg was inventing a new tool that allowed people to share articles and other media they found on the Web. Other social networks like Bebo and Hi5 were emerging there, too, some targeting the same users as Facebook but in any case building clever products that were resonating with users all over the world.

Those in Zuckerberg’s circle blamed her for bringing in people who didn’t appreciate Facebook’s unique mission and culture. Some of these stalwarts—the ones who survived—took to calling Zuckerberg’s new executive coach “Wormtongue,” after an evil adviser to the king in Tolkien’s Lord of the Rings. Criticism was coming from the outside as well. Tech industry bloggers pointed to Facebook’s revolving-door management and said it suggested internal chaos. But Zuckerberg’s adviser Marc Andreessen gives the CEO credit for being decisive about making changes when people weren’t working. There’s no way, Andreessen says, that a fast-growing company can consistently make the right hiring decisions. Better to quickly remedy the inevitable wrong ones. Zuckerberg preferred working with people his own age. He believed they were superior programmers, for one thing. Sometime later, at a small conference, he showed his stripes in talking to a bunch of other entrepreneurs.


pages: 373 words: 112,822

The Upstarts: How Uber, Airbnb, and the Killer Companies of the New Silicon Valley Are Changing the World by Brad Stone

Affordable Care Act / Obamacare, Airbnb, AltaVista, Amazon Web Services, Andy Kessler, autonomous vehicles, Burning Man, call centre, Chuck Templeton: OpenTable, collaborative consumption, East Village, fixed income, Google X / Alphabet X, housing crisis, inflight wifi, Jeff Bezos, Justin.tv, Kickstarter, Lyft, Marc Andreessen, Mark Zuckerberg, Menlo Park, Necker cube, obamacare, Paul Graham, peer-to-peer, Peter Thiel, race to the bottom, rent control, ride hailing / ride sharing, Ruby on Rails, Sand Hill Road, self-driving car, semantic web, sharing economy, side project, Silicon Valley, Silicon Valley startup, Skype, South of Market, San Francisco, Startup school, Steve Jobs, TaskRabbit, Tony Hsieh, transportation-network company, Uber and Lyft, Uber for X, Y Combinator, Y2K, Zipcar

A few other firms expressed interest, but Kalanick’s clear favorite was the newest sugar daddy on Menlo Park’s Sand Hill Road: Andreessen Horowitz, the two-year-old firm that a few months before had led the Series B round in Airbnb, making the home-sharing startup a unicorn. The attraction for Kalanick was the same as it had been for Brian Chesky. The firm was led by entrepreneurs Marc Andreessen and Ben Horowitz and known for offering favorable terms at muscular valuations. Like Chesky, Kalanick wanted to enlist the services of Andreessen’s newest partner, Jeff Jordan, an expert in the peculiar dynamics of online marketplaces. At first, Andreessen Horowitz was the most aggressive pursuer, offering to value the startup at more than $300 million. But then Marc Andreessen, the Netscape co-founder, changed his mind and, at dinner with Kalanick, told him that Uber’s financials didn’t yet support such a rich valuation and changed it to $220 million, according to a report in Vanity Fair.12 Though disappointed, Kalanick tentatively agreed to the new terms but then felt further blindsided when he saw the fine print.

By spending time at Justin.tv, the Airbnb founders got to see what a real tech startup looked like, one with real offices, real employees, and actual venture capital in the bank. (Justin.tv later spun off a video-game service, Twitch.tv, which was acquired by Amazon in 2014 for $970 million.) Continuing this education, they attended a one-day event called Startup School, organized by the startup incubator Y Combinator and hosted by Stanford University. The speakers that year included Amazon CEO Jeff Bezos and the investor Marc Andreessen, an inventor of the web browser. But the speech the founders remembered best was by Greg McAdoo, a venture capitalist at the top-tier VC firm Sequoia Capital, a man whom they would soon get to know well. McAdoo spoke about why being a great entrepreneur required the precision of a great surfer. If you want to build a truly great company you have got to ride a really big wave. And you’ve got to be able to look at market waves and technology waves in a different way than other folks and see it happening sooner, know how to position yourself out there, prepare yourself, pick the right surfboard—in other words, bring the right management team in, build the right platform underneath you.

“I was like, ‘Okay, I’m ready.’”12 Hoffman could seize the Airbnb opportunity in part because the other VC firms Chesky approached still didn’t get the concept and weren’t able to look beyond the obvious risks—that someone could get hurt in an Airbnb, or an apartment could get ransacked, or a host could stash a secret video camera somewhere. They couldn’t see a company that might end up appealing not just to twenty-somethings from Europe but to real adults, even retired couples, who were seeking more authentic experiences when they traveled. Marc Andreessen, the Netscape founder and investor, had just started his own venture capital firm with partner Ben Horowitz when he passed on Airbnb’s Series A round of funding. Andreessen liked to say that the goal of their firm, Andreessen Horowitz, was to identify the fifteen or so tech startups every year that actually mattered and back as many of them as possible.13 The firm took a long look at Airbnb and whiffed.


pages: 292 words: 85,151

Exponential Organizations: Why New Organizations Are Ten Times Better, Faster, and Cheaper Than Yours (And What to Do About It) by Salim Ismail, Yuri van Geest

Amazon: amazon.comamazon.co.ukamazon.deamazon.fr

23andMe, 3D printing, Airbnb, Amazon Mechanical Turk, Amazon Web Services, augmented reality, autonomous vehicles, Baxter: Rethink Robotics, bioinformatics, bitcoin, Black Swan, blockchain, Burning Man, business intelligence, business process, call centre, chief data officer, Chris Wanstrath, Clayton Christensen, clean water, cloud computing, cognitive bias, collaborative consumption, collaborative economy, commoditize, corporate social responsibility, cross-subsidies, crowdsourcing, cryptocurrency, dark matter, Dean Kamen, dematerialisation, discounted cash flows, distributed ledger, Edward Snowden, Elon Musk, en.wikipedia.org, ethereum blockchain, Galaxy Zoo, game design, Google Glasses, Google Hangouts, Google X / Alphabet X, gravity well, hiring and firing, Hyperloop, industrial robot, Innovator's Dilemma, intangible asset, Internet of things, Iridium satellite, Isaac Newton, Jeff Bezos, Kevin Kelly, Kickstarter, knowledge worker, Kodak vs Instagram, Law of Accelerating Returns, Lean Startup, life extension, lifelogging, loose coupling, loss aversion, Lyft, Marc Andreessen, Mark Zuckerberg, market design, means of production, minimum viable product, natural language processing, Netflix Prize, Network effects, new economy, Oculus Rift, offshore financial centre, p-value, PageRank, pattern recognition, Paul Graham, peer-to-peer, peer-to-peer model, Peter H. Diamandis: Planetary Resources, Peter Thiel, prediction markets, profit motive, publish or perish, Ray Kurzweil, recommendation engine, RFID, ride hailing / ride sharing, risk tolerance, Ronald Coase, Second Machine Age, self-driving car, sharing economy, Silicon Valley, skunkworks, Skype, smart contracts, Snapchat, social software, software is eating the world, speech recognition, stealth mode startup, Stephen Hawking, Steve Jobs, subscription business, supply-chain management, TaskRabbit, telepresence, telepresence robot, Tony Hsieh, transaction costs, Tyler Cowen: Great Stagnation, urban planning, WikiLeaks, winner-take-all economy, X Prize, Y Combinator, zero-sum game

In 2011, futurist Paul Saffo suggested to Salim that he write this book, and we have been seriously researching the ExO model for the last three years. To do so, we: Reviewed sixty classic innovation management books by such authors as John Hagel, Clayton Christensen, Eric Ries, Gary Hamel, Jim Collins, W. Chan Kim, Reid Hoffman and Michael Cusumano. Interviewed C-Level executives from several dozen Fortune 200 companies with our survey and frameworks. Interviewed or researched ninety top entrepreneurs and visionaries including Marc Andreessen, Steve Forbes, Chris Anderson, Michael Milken, Paul Saffo, Philip Rosedale, Arianna Huffington, Tim O’Reilly and Steve Jurvetson. Investigated the characteristics of the one hundred fastest growing and most successful startups across the world, including those that comprise the Unicorn Club (Aileen Lee’s name for the billion-dollar market cap startup group), to tease out commonalities the companies used to scale.

Social technologies—whose analog counterpart, of course, is the so-called water cooler effect—create horizontal interactions in vertically organized companies. Social technology is finding fertile ground because the workplace has become increasingly digitized. It started with email, which provided asynchronous connectivity; next came wikis and intranets that provided synchronous information sharing; today we have activity streams that provide real-time updates throughout organizations. As Marc Andreessen said, “Communication is the basis for civilization and will be a catalyst and platform in the future for more innovations in many industries.” The reason we think this is important is the frame that social business expert Theo Priestley puts around it when he says, “Transparency is the new currency. Trust is the bill we’ll just be paying for.” Priestley’s equation for social business is: CONNECTION + ENGAGEMENT + TRUST + TRANSPARENCY.

And that’s just the beginning: as we add trillions of sensors on every device, process and person, the process will accelerate even faster to an almost unimaginable pace (Big Data). Finally, according to Ericsson Research, within the next eight years we will see the next generation of mobile networks (5G) sporting speeds of five gigabits per second. Just imagine what that will make possible. When Marc Andreessen proclaimed in a 2011 Wall Street Journal article that “software is eating the world,” he was addressing this very phenomenon. Andreessen, who helped invent the Internet browser and is now one of Silicon Valley’s most powerful venture capitalists, argued that in every industry, and at every level, software is automating and accelerating the world. Cloud computing and the app store ecosystems are clear testaments to this trend, with the Apple and Android platforms each hosting more than 1.2 million applications programs, most of them crowdsourced from customers.


pages: 270 words: 79,180

The Middleman Economy: How Brokers, Agents, Dealers, and Everyday Matchmakers Create Value and Profit by Marina Krakovsky

Amazon: amazon.comamazon.co.ukamazon.deamazon.fr

Affordable Care Act / Obamacare, Airbnb, Al Roth, Black Swan, buy low sell high, Chuck Templeton: OpenTable, Credit Default Swap, cross-subsidies, crowdsourcing, disintermediation, diversified portfolio, experimental economics, George Akerlof, Goldman Sachs: Vampire Squid, income inequality, index fund, information asymmetry, Jean Tirole, Kenneth Arrow, Lean Startup, Lyft, Marc Andreessen, Mark Zuckerberg, market microstructure, Martin Wolf, McMansion, Menlo Park, Metcalfe’s law, moral hazard, multi-sided market, Network effects, patent troll, Paul Graham, Peter Thiel, pez dispenser, ride hailing / ride sharing, Robert Metcalfe, Sand Hill Road, sharing economy, Silicon Valley, social graph, supply-chain management, TaskRabbit, The Market for Lemons, too big to fail, trade route, transaction costs, two-sided market, Uber for X, ultimatum game, Y Combinator

., September 17, 2014. 27.Paul Graham, “A Unified Theory of VC Suckage,” PaulGraham.com, March 2005, retrieved from http://www.paulgraham.com/venturecapital.html. 28.Russ Roberts, “Marc Andreessen on Venture Capital and the Digital Future,” EconTalk, May 19, 2014, retrieved from http://www.econtalk.org/archives/2014/05/marc_andreessen.html. 29.Ben Horowitz mentions Rachleff’s influence in an interview with Stanford engineering professor Tom Byers, “Disrupting the Venture Capital Industry,” Stanford Technology Ventures Program, Entrepreneurial Thought Leaders Series, November 19, 2014, retrieved from http://ecorner.stanford.edu/authorMate rialInfo.html?mid=3438. 30.Andy Rachleff, “Demystifying Venture Capital Economics, Part I,” Wealthfront Blog, June 19, 2014, retrieved from https://blog.wealthfront.com/venture-capital-economics/. 31.“Marc Andreessen on Breakthrough Ideas and Courageous Entrepreneurs,” interview at Stanford Graduate School of Business, March 8, 2014, retrieved from https://www.youtube.com/watch?

Notice that it is also an external risk, and not an internal one: the entrepreneur has no incentive to undermine the VC’s goals by shirking, for example, because doing so would sabotage the entrepreneur. Maples knows how to embrace external risk while avoiding internal risk. Mike Maples didn’t come up with the idea of investing in ventures that are nonconsensus and right, and he is certainly not the only venture capitalist to think this way. Marc Andreessen, perhaps the best-known VC working today, plots start-ups on a two-by-two matrix in which VCs should aim for the quadrant corresponding to nonconsensus and successful.28 It should go without saying that you cannot know for sure which ones will be successful, and even the best VCs are often wrong, but you do know which are nonconsensus. Andreessen and partner Ben Horowitz picked up much of their investment philosophy, probably including this idea, from investment advisor Andy Rachleff, a former partner at Benchmark Capital and founder of Wealthfront, a firm that uses technology to transform the investment advisory business.29 Rachleff, in turn, credits his “investment idol,” Howard Marks, with this framework.30 When the entrepreneur-turned-VC Peter Thiel asks, “What important truth do very few people agree with you on?”


pages: 669 words: 210,153

Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss

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Airbnb, Alexander Shulgin, artificial general intelligence, asset allocation, Atul Gawande, augmented reality, back-to-the-land, Bernie Madoff, Bertrand Russell: In Praise of Idleness, Black Swan, blue-collar work, Buckminster Fuller, business process, Cal Newport, call centre, Checklist Manifesto, cognitive bias, cognitive dissonance, Colonization of Mars, Columbine, commoditize, correlation does not imply causation, David Brooks, David Graeber, diversification, diversified portfolio, Donald Trump, effective altruism, Elon Musk, fault tolerance, fear of failure, Firefox, follow your passion, future of work, Google X / Alphabet X, Howard Zinn, Hugh Fearnley-Whittingstall, Jeff Bezos, job satisfaction, Johann Wolfgang von Goethe, John Markoff, Kevin Kelly, Kickstarter, Lao Tzu, life extension, lifelogging, Mahatma Gandhi, Marc Andreessen, Mark Zuckerberg, Mason jar, Menlo Park, Mikhail Gorbachev, Nicholas Carr, optical character recognition, PageRank, passive income, pattern recognition, Paul Graham, peer-to-peer, Peter H. Diamandis: Planetary Resources, Peter Singer: altruism, Peter Thiel, phenotype, PIHKAL and TIHKAL, post scarcity, premature optimization, QWERTY keyboard, Ralph Waldo Emerson, Ray Kurzweil, recommendation engine, rent-seeking, Richard Feynman, Richard Feynman, risk tolerance, Ronald Reagan, selection bias, sharing economy, side project, Silicon Valley, skunkworks, Skype, Snapchat, social graph, software as a service, software is eating the world, stem cell, Stephen Hawking, Steve Jobs, Stewart Brand, superintelligent machines, Tesla Model S, The Wisdom of Crowds, Thomas L Friedman, Wall-E, Washington Consensus, Whole Earth Catalog, Y Combinator, zero-sum game

Weirdness is what bonds us to our colleagues. Weirdness is what sets us apart, gets us hired. Be your unapologetically weird self. In fact, being weird may even find you the ultimate happiness.” TF: As an example—mullet wigs. CHRIS: “If you could bring one thing to make for an amazing party night, it’s wigs, seriously. Go to Amazon right now and order 50 mullet wigs. Mullet wigs change everything.” * * * Marc Andreessen Marc Andreessen (TW: @pmarca, a16z.com) is a legendary figure in Silicon Valley, and his creations have changed the world. Even in the epicenter of tech, it’s hard to find a more fascinating icon. Marc co-created the highly influential Mosaic browser, the first widely used graphical web browser. He also co-founded Netscape, which later sold to AOL for $4.2 billion. He then co-founded Loudcloud, which sold as Opsware to Hewlett-Packard for $1.6 billion.

All episodes can be found on fourhourworkweek.com/podcast and itunes.com/timferriss “Jamie Foxx on Workout Routines, Success Habits, and Untold Hollywood Stories” (episode 124) “Tony Robbins on Morning Routines, Peak Performance, and Mastering Money” (episode 37) “The Scariest Navy SEAL Imaginable . . . and What He Taught Me” (episode 107) “Tony Robbins—On Achievement Versus Fulfillment” (episode 178) “Lessons from Geniuses, Billionaires, and Tinkerers” (episode 173) “Tim Ferriss Interviews Arnold Schwarzenegger on Psychological Warfare (and Much More)” (episode 60) “The Secrets of Gymnastic Strength Training” (episode 158) “How Seth Godin Manages His Life—Rules, Principles, and Obsessions” (episode 138) “Dom D’Agostino on Fasting, Ketosis, and the End of Cancer” (episode 117) “Charles Poliquin on Strength Training, Shredding Body Fat, and Increasing Testosterone and Sex Drive” (episode 91) “5 Morning Rituals that Help Me Win the Day” (episode 105) “Shay Carl—From Manual Laborer to 2.3 Billion YouTube Views” (episode 170) “Tony Robbins on Morning Routines, Peak Performance, and Mastering Money (Part 2)” (episode 38) “The Science of Strength and Simplicity with Pavel Tsatsouline” (episode 55) “Dissecting the Success of Malcolm Gladwell” (episode 168) “Kevin Rose” (episode 1) “How to 10x Your Results, One Tiny Tweak at a Time” (episode 144) “The Importance of Being Dirty: Lessons from Mike Rowe” (episode 157) “The Interview Master: Cal Fussman and the Power of Listening” (episode 145) “The Man Who Studied 1,000 Deaths to Learn How to Live” (episode 153) “Kevin Kelly—AI, Virtual Reality, and the Inevitable” (episode 164) “Dom D’Agostino—The Power of the Ketogenic Diet” (episode 172) “Tools and Tricks from the #30 Employee at Facebook” (episode 75) “Marc Andreessen—Lessons, Predictions, and Recommendations from an Icon” (episode 163) “Tara Brach on Meditation and Overcoming FOMO (Fear of Missing Out)” (episode 94) My Rapid-Fire Questions If you ended up sitting next to a Nobel Prize winner or billionaire, what would you ask them? If you only had 2 to 5 minutes and they were willing to talk, how could you make the most of it? Below are questions I’ve collected or concocted for just this hypothetical situation. Many of them are the “rapid-fire questions” that I ask nearly every guest on The Tim Ferriss Show. A handful are adapted from questions I picked up from guests themselves (such as Peter Thiel, page 232, and Marc Andreessen, page 170). When you think of the word “successful,” who’s the first person who comes to mind and why?

If you find anything amazing in this book, it’s thanks to the brilliant minds who acted as teachers, resources, critics, contributors, proofreaders, and references. If you find anything ridiculous in this book, it’s because I didn’t heed their advice or made a mistake. Though indebted to hundreds of people, I wish to thank here the many guests who have appeared on my podcast and who grace the pages of this book, listed in alphabetical order: Scott Adams (p. 261) James Altucher (p. 246) Sophia Amoruso (p. 376) Marc Andreessen (p. 170) Sekou Andrews (p. 642) Patrick Arnold (p. 35) Peter Attia (p. 59) Glenn Beck (p. 553) Scott Belsky (p. 359) Richard Betts (p. 563) Mike Birbiglia (p. 566) Alex Blumberg (p. 303) Amelia Boone (p. 2) Justin Boreta (p. 356) Tara Brach (p. 555) Brené Brown (p. 586) Bryan Callen (p. 483) Shay Carl (p. 441) Dan Carlin (p. 285) Ed Catmull (p. 309) Margaret Cho (p. 538) Paulo Coelho (p. 511) Ed Cooke (p. 517) Kevin Costner (p. 451) Whitney Cummings (p. 477) Dominic D’Agostino (p. 21) Alain de Botton (p. 486) Joe De Sena (p. 38) Mike Del Ponte (p. 299) Peter Diamandis (p. 369) Tracy DiNunzio (p. 313) Jack Dorsey (p. 509) Stephen J.


pages: 472 words: 117,093

Machine, Platform, Crowd: Harnessing Our Digital Future by Andrew McAfee, Erik Brynjolfsson

3D printing, additive manufacturing, AI winter, Airbnb, airline deregulation, airport security, Albert Einstein, Amazon Mechanical Turk, Amazon Web Services, artificial general intelligence, augmented reality, autonomous vehicles, backtesting, barriers to entry, bitcoin, blockchain, book scanning, British Empire, business process, carbon footprint, Cass Sunstein, centralized clearinghouse, Chris Urmson, cloud computing, cognitive bias, commoditize, complexity theory, computer age, creative destruction, crony capitalism, crowdsourcing, cryptocurrency, Daniel Kahneman / Amos Tversky, Dean Kamen, discovery of DNA, disintermediation, distributed ledger, double helix, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, ethereum blockchain, everywhere but in the productivity statistics, family office, fiat currency, financial innovation, George Akerlof, global supply chain, Hernando de Soto, hive mind, information asymmetry, Internet of things, inventory management, iterative process, Jean Tirole, Jeff Bezos, jimmy wales, John Markoff, joint-stock company, Joseph Schumpeter, Kickstarter, law of one price, Lyft, Machine translation of "The spirit is willing, but the flesh is weak." to Russian and back, Marc Andreessen, Mark Zuckerberg, meta analysis, meta-analysis, moral hazard, multi-sided market, Myron Scholes, natural language processing, Network effects, new economy, Norbert Wiener, Oculus Rift, PageRank, pattern recognition, peer-to-peer lending, performance metric, Plutocrats, plutocrats, precision agriculture, prediction markets, pre–internet, price stability, principal–agent problem, Ray Kurzweil, Renaissance Technologies, Richard Stallman, ride hailing / ride sharing, risk tolerance, Ronald Coase, Satoshi Nakamoto, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Skype, slashdot, smart contracts, Snapchat, speech recognition, statistical model, Steve Ballmer, Steve Jobs, Steven Pinker, supply-chain management, TaskRabbit, Ted Nelson, The Market for Lemons, The Nature of the Firm, Thomas L Friedman, too big to fail, transaction costs, transportation-network company, traveling salesman, two-sided market, Uber and Lyft, Uber for X, Watson beat the top human players on Jeopardy!, winner-take-all economy, yield management, zero day

The web was born in 1989 when Tim Berners-Lee developed a set of protocols that allowed pieces of online content like text and pictures to link to each other, putting in practice the visions of hypertext first described by science and engineering polymath Vannevar Bush in 1945 (theoretically using microfilm) and computer visionary Ted Nelson, whose Project Xanadu never quite took off. The web rapidly turned the Internet from a text-only network into one that could handle pictures, sounds, and other media. This multimedia wonder, so much richer and easier to navigate than anything before, entered the mainstream in 1994 when Netscape released the first commercial web browser, named Navigator. (One of Netscape’s cofounders was Marc Andreessen, a then twenty-two-year-old programmer who had worked on earlier web browsers. We’ll hear more from Andreessen in Chapter 11.)‡ It coincided with the commercialization of the Internet, which had previously been primarily the domain of academics. The web enabled companies to extend their business processes beyond the four walls of the company and all the way to the consumer—a trend that became known as e-commerce.

The campaign included a short trailer for the proposed movie, videos from Bell and Thomas, and the offer of rewards for different levels of support.*** The campaign’s stated goal was to raise $2 million. It actually took in that amount within the first twelve hours and went on to generate $5.7 million in total. The movie premiered on March 14, 2014, both in theaters and on video on-demand services. It received generally positive reviews and was judged a financial success. Marc Andreessen, who started his career as the main programmer of the most successful early web browser and has since become a prominent venture capitalist, thinks crowdfunding could become one of the main ways that new offerings are developed. He said to us, “One could argue that the way that products and services—including entertainment media, including shoes and food and everything—the way that everything comes to market for the last 2,000 years has been backwards.

In 2014, well over half of the total loan volume on both Prosper and Lending Club, two of the largest platforms in the United States, came from institutional investors, who often used specialized software to comb through available opportunities. In reality, it turned out, peer-to-peer lending often became something much less novel: personal and small business loans offered by big, established lenders to customers identified in a new way. But it’s not just large hedge funds that are finding new customers thanks to crowd-centric new businesses; it’s also popular voices that emerge from the crowd itself. Marc Andreessen told us about the startup Teespring, founded in 2011 by Walter Williams and Evan Stites-Clayton. As Andreessen explained to us, Teespring is the modern method to convert social capital into financial capital. It’s one of these things where it first will strike you as absurd, and then if you swallow the red pill, you’ll realize what’s happening.†† It’s a way for a Facebook group or a YouTube star or Instagram star to be able to sell T-shirts.


pages: 202 words: 59,883

Age of Context: Mobile, Sensors, Data and the Future of Privacy by Robert Scoble, Shel Israel

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Albert Einstein, Apple II, augmented reality, call centre, Chelsea Manning, cloud computing, connected car, Edward Snowden, Edward Thorp, Elon Musk, factory automation, Filter Bubble, Google Earth, Google Glasses, Internet of things, job automation, John Markoff, Kickstarter, lifelogging, Marc Andreessen, Mars Rover, Menlo Park, Metcalfe’s law, New Urbanism, PageRank, pattern recognition, RFID, ride hailing / ride sharing, Robert Metcalfe, Saturday Night Live, self-driving car, sensor fusion, Silicon Valley, Skype, smart grid, social graph, speech recognition, Steve Jobs, Steve Wozniak, Steven Levy, Tesla Model S, Tim Cook: Apple, urban planning, Zipcar

What VinTank is doing for Napa has the potential to help other destination merchants such as restaurants, amusement parks, hotels and museums—any leisure time destinations—to find potential customers and filter out those who are nearby but not likely to be a good match. The magic is that over time, wherever you go, more people will not only know your name, they will be pretty accurate in knowing how they can help you—and leave you alone if they can’t. This increased personalization and concurrent lack of privacy, of course, is going to be uncomfortable for some people at first, but we believe that will change over time. Marc Andreessen, one of Silicon Valley’s most respected thinkers and investors, predicts merchants will understand who you are and what you want by the time you arrive. “Today, this may feel a little bizarre,” Andreessen says, “but 20 years from now it will be bizarre if you walk into a store and the store doesn’t know who you are.” At the rate of current change, we think 20 years may be a bit conservative.

At every wave of new technology, some people opt out. They choose not to drive or fly. We recall a court case involving a teacher who banned students from using Google instead of libraries, because searching online was cheating. That was less than ten years ago. The Ice Cream Incentive In the case of retail, merchants have long understood how to use incentives to gain engagement. Marc Andreessen, whose venture firm, Andreessen Horowitz has invested more dollars in contextual technologies than most any other early-phase firm, sees the best retail strategy online and off as something called “free ice cream.” It is the marketing concept that enables you to gain users even as you refine early-phase technology. All you have to do, he explains, is offer something so tasty, cool and sweet that most people just can’t resist.

A broken device will be easier to replace than a damaged windshield. The issues of regulation and adoption bring us to what may be the most significant and controversial changes in car making since horsepower replaced horses. We refer, of course, to the driverless car. Chapter 5 Driving Over the Freaky Line People are so bad at driving cars that computers don’t have to be that good to be much better. Marc Andreessen, investor Picture this: It is not very far into the future and you have just arrived in a big city. You summon an Uber car via a mobile app and a nice-looking upscale sedan soon pulls up to the curb in front of you. You hop in the back seat and tell absolutely no one behind the wheel where you are going. You buckle up, because the nonexistent driver insists you do so or the car will not proceed.


pages: 168 words: 50,647

The End of Jobs: Money, Meaning and Freedom Without the 9-To-5 by Taylor Pearson

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Airbnb, barriers to entry, Black Swan, call centre, cloud computing, commoditize, creative destruction, David Heinemeier Hansson, Elon Musk, en.wikipedia.org, Frederick Winslow Taylor, future of work, Google Hangouts, Kevin Kelly, Kickstarter, knowledge economy, knowledge worker, loss aversion, low skilled workers, Lyft, Marc Andreessen, Mark Zuckerberg, market fragmentation, means of production, Oculus Rift, passive income, passive investing, Peter Thiel, remote working, Ronald Reagan: Tear down this wall, sharing economy, side project, Silicon Valley, Skype, software as a service, software is eating the world, Startup school, Steve Jobs, Steve Wozniak, Stewart Brand, telemarketer, Thomas Malthus, Uber and Lyft, unpaid internship, Watson beat the top human players on Jeopardy!, web application, Whole Earth Catalog

Your Middle Class existence isn’t just being squeezed by overseas workers, it’s being squeezed by technology being developed just down the street. 2 The Acceleration of Technology All That Is Old Is New Again Venture capitalist firms are famous for their investment theses, the basic premise that fuels their investing strategy. These are simple statements which result in the investment of billions of dollars. Andreessen-Horowitz, a Venture capital firm started by Marc Andreessen and Ben Horowitz, that manages $4 billion as of March 2014, operates on an investment thesis of five words: Software is Eating the World. What is so profound in those five words that it directs how they invest billions of dollars? The trend Andreessen Horowitz is betting on may seem new and disruptive, but it’s just the next step in a well-understood process that’s been happening for hundreds of years: technological innovation.

Work has always been a disutility because the work that was required to accumulate more wealth and address the economic limit was primarily simple, algorithmic or at best, complicated work. If you’re a farmer and you were trying to get a job in the city one hundred years ago, you were probably going to end up in a factory. That was the opportunity available. The barriers to starting your own business were far higher than they are today. Marc Andreessen recounted in an interview how the first meeting he has with entrepreneurs that approach him about backing their company usually plays out. They always reach a point, fairly early on in the interview, where Marc will start trying to talk the founders out of the idea and suggesting other ways to attack the problem than the one they’ve outlined or proposing a different problem to attack. That moment in the conversation has proved to be the biggest predictor of success with companies that Andreessen Horowitz funds.

You typically either want really nice stuff you’ll keep for years or really cheap stuff you won’t mind throwing away. Gary Vaynerchuk of VaynerMedia and Wine Library TV has identified the same phenomenon, calling it the Clouds and the Dirt. He’s either thinking in the day-to-day minutia of exactly how to post on Facebook—how many words should the post be?—or how to buy the New York Jets (where is marketing going over the next decade? How are we positioned for it?). Reading through venture capitalist Marc Andreessen’s Guide to Career Planning, I was pleasantly unsurprised by his number one piece of advice on the topic: Don’t. The first rule of career planning: Do not plan your career. The world is an incredibly complex place and everything is changing all the time. You can’t plan your career because you have no idea what’s going to happen in the future…Trying to plan your career is an exercise in futility that will only serve to frustrate you, and to blind you to the really significant opportunities that life will throw your way


pages: 457 words: 128,838

The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order by Paul Vigna, Michael J. Casey

Amazon: amazon.comamazon.co.ukamazon.deamazon.fr

3D printing, Airbnb, altcoin, bank run, banking crisis, bitcoin, blockchain, Bretton Woods, California gold rush, capital controls, carbon footprint, clean water, collaborative economy, collapse of Lehman Brothers, Columbine, Credit Default Swap, cryptocurrency, David Graeber, disintermediation, Edward Snowden, Elon Musk, ethereum blockchain, fiat currency, financial innovation, Firefox, Flash crash, Fractional reserve banking, hacker house, Hernando de Soto, high net worth, informal economy, intangible asset, Internet of things, inventory management, Julian Assange, Kickstarter, Kuwabatake Sanjuro: assassination market, litecoin, Long Term Capital Management, Lyft, M-Pesa, Marc Andreessen, Mark Zuckerberg, McMansion, means of production, Menlo Park, mobile money, money: store of value / unit of account / medium of exchange, Network effects, new economy, new new economy, Nixon shock, offshore financial centre, payday loans, Pearl River Delta, peer-to-peer, peer-to-peer lending, pets.com, Ponzi scheme, prediction markets, price stability, profit motive, QR code, RAND corporation, regulatory arbitrage, rent-seeking, reserve currency, Robert Shiller, Robert Shiller, Satoshi Nakamoto, seigniorage, shareholder value, sharing economy, short selling, Silicon Valley, Silicon Valley startup, Skype, smart contracts, special drawing rights, Spread Networks laid a new fibre optics cable between New York and Chicago, Steve Jobs, supply-chain management, Ted Nelson, The Great Moderation, the market place, the payments system, The Wealth of Nations by Adam Smith, too big to fail, transaction costs, tulip mania, Turing complete, Tyler Cowen: Great Stagnation, Uber and Lyft, underbanked, WikiLeaks, Y Combinator, Y2K, zero-sum game, Zimmermann PGP

You read the paper every day, and enough stories have appeared to convince you that bitcoin is real, that some entrepreneurs, including the Winklevoss twins of Facebook fame, expect to make a lot of money from it. But the details don’t add up. You get it by doing math problems? No? By having your computer do math problems? How can that possibly work? At this stage, phrases like Ponzi scheme and tulip mania enter your mind. Stage Three: Curiosity. You’ve kept reading. It becomes clear that many people, even some seemingly sensible people such as Internet pioneer Marc Andreessen, people with a track record for being right about this stuff, are genuinely excited by it. But why all the fuss? Okay, it’s digital money, it may work, but what difference is that going to make to regular people? And why are people so heated up about it? Stage Four: Crystallization. This is the critical one. Choose whatever metaphor you like—call it the jaw-drop moment, the lightbulb moment, the mind-now-officially-blown moment—it is a point of realization that hits just about everybody who spends any time around digital currencies, even if they remain skeptical about the hurdles to their acceptance.

It’s not far off the money-raising that was swirling around Internet start-ups in the second half of the 1990s, and it suggests that claims of bitcoin’s demise were premature. Above all, it’s the names of the investors that get people’s attention. The list includes a selection of key players from the early e-commerce boom in the 1990s, including a man with as big a claim as any to having popularized the Internet: Marc Andreessen. The founder of Mosaic, the first mass-distributed browser, as well its better-known successor, Netscape, Andreessen is now a high-profile bitcoin bull. His firm, Andreessen Horowitz, has made major investments in the cryptocurrency sector, including in bitcoin processor Coinbase and in payments provider Ripple. He’s not the only techie-turned-investor from that era now diving into crypto start-ups.

Those unimaginable possibilities exist with bitcoin, Dixon says, because “extensible software platforms that allow anyone to build on top of them are incredibly powerful and have all these unexpected uses. The stuff about fixing the existing payment system is interesting, but what’s superexciting is that you have this new platform on which you can move money and property and potentially build new areas of business.” If Dixon’s right about bitcoin’s being the Internet all over again—a vision shaped by the experience of his partner Netscape founder Marc Andreessen—then many of the start-ups that have dived into this field will have their dreams fulfilled and may well become the next PayPal, or at least get bought by PayPal. For the VCs, the hope is that their scattershot approach lands on just a couple of big winners. This inherently optimistic approach is founded on the idea that the opportunities lie in multiple, untapped places—we just don’t always know which ones.


pages: 368 words: 96,825

Bold: How to Go Big, Create Wealth and Impact the World by Peter H. Diamandis, Steven Kotler

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3D printing, additive manufacturing, Airbnb, Amazon Mechanical Turk, Amazon Web Services, augmented reality, autonomous vehicles, cloud computing, creative destruction, crowdsourcing, Daniel Kahneman / Amos Tversky, dematerialisation, deskilling, Elon Musk, en.wikipedia.org, Exxon Valdez, fear of failure, Firefox, Galaxy Zoo, Google Glasses, Google Hangouts, Google X / Alphabet X, gravity well, ImageNet competition, industrial robot, Internet of things, Jeff Bezos, John Harrison: Longitude, John Markoff, Jono Bacon, Just-in-time delivery, Kickstarter, Kodak vs Instagram, Law of Accelerating Returns, Lean Startup, life extension, loss aversion, Louis Pasteur, Mahatma Gandhi, Marc Andreessen, Mark Zuckerberg, Mars Rover, meta analysis, meta-analysis, microbiome, minimum viable product, move fast and break things, Narrative Science, Netflix Prize, Network effects, Oculus Rift, optical character recognition, packet switching, PageRank, pattern recognition, performance metric, Peter H. Diamandis: Planetary Resources, Peter Thiel, pre–internet, Ray Kurzweil, recommendation engine, Richard Feynman, Richard Feynman, ride hailing / ride sharing, risk tolerance, rolodex, self-driving car, sentiment analysis, shareholder value, Silicon Valley, Silicon Valley startup, skunkworks, Skype, smart grid, stem cell, Stephen Hawking, Steve Jobs, Steven Levy, Stewart Brand, technoutopianism, telepresence, telepresence robot, Turing test, urban renewal, web application, X Prize, Y Combinator, zero-sum game

Licklider wrote a memo to his colleagues proposing an “Intergalactic Computer Network”—a network that replaced traditional circuit-switching technology with the then new development of packet switching, allowing any researcher with a terminal and a phone line to connect to one of the computing centers they so desperately needed.4 This was the birth of the Advanced Research Projects Agency Network (ARPANET), the foundational network that has since become today’s Internet. ARPANET became operational in 1975. It was mostly text-based, fairly complicated to navigate, and used primarily by scientists. All of this changed in 1993, when Marc Andreessen, a twenty-two-year-old undergraduate student at the University of Illinois, Urbana-Champaign, coauthored Mosaic—both the very first web browser and the Internet’s first user-friendly user interface.5 Mosaic unlocked the Internet. By adding in graphics and replacing Unix with Windows—the operating system that was then running nearly 80 percent of the computers in the world—Andreessen mainstreamed a technology developed for scientists, engineers, and the military.

If you wanted to be a great artist, you had to have years of experience applying paint to a blank canvas. Now, with our coloring-book approach, if you want to be supercreative, all you have to know how to do is color between the lines.” What makes this development so much more important is that 3D Systems isn’t the only company designing new interfaces. Experimentation has begun, drawing in a multitude of other players. As a result, the field sits right about where the web sat when Marc Andreessen introduced Mosaic—completely primed for exponential explosion. The Impact of Disruption Even now, at the beginning of this explosion, the impact that 3-D printing is having on our world is considerable. Already the printing of standard consumer products—bowls, plates, smartphone cases, bottle openers, jewelry, and purses (made from mesh)—has gone from a hobby to a nascent industry. Dozens of websites now sell goods rendered with 3-D printers, and retailers are starting to get in on the action.

Locke, The Prime Movers (New York: AMACOM, 2000). 2 AI conducted 2013. 3 Steven Kotler, “The Whole Earth Effect,” Plenty, no. 24 (October/November 2008): 84–91. 4 J. C. R Licklider, “Memorandum For Members and Affiliates of the Intergalactic Computer Network,” Advanced Research Projects Agency, April 23, 1963. See http://www.kurzweilai.net/memorandum-for-members-and-affiliates-of-the-intergalactic-computer-network. 5 Chris Anderson, “The Man Who Makes the Future: Wired Icon Marc Andreessen,” Wired, April 24, 2012, http://www.wired.com/2012/04/ff_andreessen/all/. 6 Ian Peter, “History of the World Wide Web,” Net History, http://www.nethistory.info/History%20of%20the%20Internet/web.html. 7 McKinsey Global Institute, “Manufacturing the future: The next era of global growth and innovation,” McKinsey & Company, November 2012, http://www.mckinsey.com/insights/manufacturing/the_future_of_manufacturing. 8 Institute of Human Origins, “Earliest Stone Tool Evidence Revealed,” Becoming Human, August 11, 2010, http://www.becominghuman.org/node/news/earliest-stone-tool-evidence-revealed. 9 Pagan Kennedy, “Who Made That 3-D Printer,” New York Times Magazine, November 22, 2013, http://www.nytimes.com/2013/11/24/magazine/who-made-that-3-d-printer.html. 10 In full disclosure, Peter Diamandis is a member of the 3D Systems Board of Directors. 11 All Avi Reichenthal quotes come from a series of AIs conducted between 2012 and 2014. 12 Based on approximate average share price for 2014. 13 AI, June 2014. 14 AI with Jay Rogers, 2014. 15 David Szondy, “SpaceX completes qualification test of 3D-printed SuperDraco thruster,” Gizmag, May 28, 2014, http://www.gizmag.com/superdraco-test/32292/. 16 James Hagerty and Kate Linebaugh, “Next 3-D Frontier: Printed Plane Parts,” Wall Street Journal, July 14, 2012, http://online.wsj.com/news/articles/SB10001424052702303933404577505080296858896. 17 Tim Catts, “GE Turns to 3D Printers for Plane Parts,” Bloomberg Businessweek, November 27, 2013, http://www.businessweek.com/articles/2013-11-27/general-electric-turns-to-3d-printers-for-plane-parts. 18 All quotes about Made In Space come from an AI with Michael Chen conducted 2013. 19 Brian Dodson, “Launch your own satellite for US $8000,” Gizmag, April 22, 2012, http://www.gizmag.com/tubesat-personal-satellite/22211/. 20 Statista, “Statistics and facts on the Toy Industry,” Statista.com, 2012, http://www.statista.com/topics/1108/toy-industry/. 21 Unless otherwise noted, all Alice Taylor quotes and facts come from an AI conducted in 2013. 22 Cory Doctorow, Makers (New York: Tor Books, 2009).


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Dragnet Nation: A Quest for Privacy, Security, and Freedom in a World of Relentless Surveillance by Julia Angwin

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AltaVista, Ayatollah Khomeini, barriers to entry, bitcoin, Chelsea Manning, Chuck Templeton: OpenTable, clean water, crowdsourcing, cuban missile crisis, data is the new oil, David Graeber, Debian, Edward Snowden, Filter Bubble, Firefox, GnuPG, Google Chrome, Google Glasses, informal economy, Jacob Appelbaum, John Markoff, Julian Assange, Marc Andreessen, market bubble, market design, medical residency, meta analysis, meta-analysis, mutually assured destruction, prediction markets, price discrimination, randomized controlled trial, RFID, Robert Shiller, Ronald Reagan, security theater, Silicon Valley, Silicon Valley startup, Skype, smart meter, Steven Levy, Upton Sinclair, WikiLeaks, Y2K, zero-sum game, Zimmermann PGP

The Internet blew up the software business entirely. The first real piece of Internet software was the Web browser Netscape Navigator, introduced in 1994. The prospect of the first truly mass-market software propelled Netscape to a stratospheric initial public offering. Its stock price shot up in its first day of trading, closing the day at four times its initial offering price. Netscape’s cofounder Marc Andreessen, only twenty-four years old, suddenly found himself worth $171 million. The following year, Andreessen was pictured on the cover of Time magazine, barefoot and wearing a crown, next to the caption “The Golden Geeks.” But the profits never came. Microsoft began including a free Web browser, Internet Explorer, along with its Windows 95 operating system. As a result, Netscape was never able to charge for its software.

Now I was tuning myself to a different service, DuckDuckGo, which had different ways of answering questions. It was like a new relationship; I was discovering my new partner’s quirks and foibles. And it was empowering; I was tuning myself to a partner that didn’t have a hidden agenda of tracking me. I had broken free from Google, and the world was still on its axis. I had mastered another service and could still find the information I needed. The whole experience reminded me of a quote from Marc Andreessen, the man who created Netscape, the first Web-browsing software, back in 1994. “The spread of computers and the Internet will put jobs in two categories,” Andreessen said in a 2012 interview. “People who tell computers what to do, and people who are told by computers what to do.” Mastering my switch to DuckDuckGo made me feel I had a better chance of being in the category of people who tell computers what to do

In 2008, the attorney general issued: The Attorney General’s Guidelines for Domestic FBI Operations, September 28, 2008, http://www.justice.gov/ag/readingroom/guidelines.pdf. And in 2012, the Justice Department authorized: Julia Angwin, “U.S. Terrorism Agency to Tap a Vast Database of Citizens,” Wall Street Journal, December 13, 2012, http://online.wsj.com/article/SB10001424127887324478304578171623040640006.html. Its stock price shot up: Steve Hamm, “The Education of Marc Andreessen,” BusinessWeek, April 2, 1998, http://www.businessweek.com/1998/15/topstory.htm; L. A. Lorek, “Investors Not Just Browsing: Netscape Navigator Stock Goes Public in One of Wall Street’s Most Impressive Debuts,” Fort Lauderdale Sun-Sentinel, August 10, 1995; and Kathy M. Kristof, “Why Individual Investors Lose on IPOs,” Los Angeles Times, August 10, 1995, http://articles.latimes.com/1995-08-10/business/fi-33617_1_individual-investors.


pages: 310 words: 91,151

Leaving Microsoft to Change the World: An Entrepreneur's Odyssey to Educate the World's Children by John Wood

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airport security, British Empire, call centre, clean water, corporate social responsibility, Deng Xiaoping, Donald Trump, fear of failure, glass ceiling, high net worth, income per capita, Jeff Bezos, Johann Wolfgang von Goethe, Marc Andreessen, microcredit, Own Your Own Home, random walk, rolodex, shareholder value, Silicon Valley, Skype, Steve Ballmer

Backpacks await their new owners on the day of a Room to Grow scholarship initiation ceremony in rural Cambodia. In addition to backpacks, each new scholar is given a bike. Schools in rural Cambodia can be up to three hours walk from some villages. Room to Read Chicago chapter leader Tina Sciabica visits some of the Nepali Room to Read scholars benefiting from the funds she has raised. On this night, Netscape co-founder Marc Andreessen made a $250,000 gift in honor of Room to Read’s five year anniversary. Many rural Laotians never have the opportunity for a formal education. With the goal of reversing this trend, Room to Read began operations in Laos in 2005. I talk with the headmaster of Harihar School, Uday Kharki, in Pokhara, Nepal, during a visit to open the school’s new Computer Room in 2003. This new Language Room in Vietnam will teach 300 kids per day a foreign language.

They ride local buses for a dozen hours to visit villages, they work with communities to determine the best method of coinvestment via our Challenge Grant program, and they pilot motorbikes along rutted dirt roads to visit girls whose parents can’t afford school fees. To the Room to Read teams in Cambodia, India, Laos, Nepal, Sri Lanka, Vietnam, and South Africa, I say thank you. Room to Read’s Board members—Marc Andreessen, Christopher Beer, Alastair Mactaggart, Muneer Satter, and Hilary Valentine—have been generous with their strategic direction and financial support. Jenny Stein was a partner in every key decision I made during our formative years. Christine Boskoff, Wynne Leon, Alison Levine, and my father served admirably and with dedication during the organization’s early years. A special thanks to Don and Rachel Valentine and their family for being our first multiyear grant, which underwrote the launch of the Room to Grow scholarship program.

I want to recognize the Skoll Foundation for being visionary funders who have encouraged the Room to Read management team to focus on scaling, and for backing up this advice with large-capacity building grants. Thanks to the team at Accenture for being our first significant corporate grant, and for the world-class advice you give to us. Thanks to the team at the Draper Richards Foundation for my fellowship, the seed funding, and all the great advice over the years. Finally, thanks to Marc Andreessen for being willing to invest in a venture run by a Microsoft alumnus! Our most significant early funding came from Jim Kastenholz and Jennifer Steans, Hilary Valentine, Stuart Kerr, Dena Blank, Sarah Leary and Patte McDowell, and the team at the Cloud Nine Foundation. Our first significant partnership was with the Asia Foundation’s Books for Asia program. TAF is an older foundation, and we did not expect them to bet on a new NGO like ours.


pages: 284 words: 92,688

Disrupted: My Misadventure in the Start-Up Bubble by Dan Lyons

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activist fund / activist shareholder / activist investor, Airbnb, Bernie Madoff, bitcoin, call centre, cleantech, cloud computing, corporate governance, dumpster diving, fear of failure, Filter Bubble, Golden Gate Park, Google Glasses, Googley, Gordon Gekko, hiring and firing, Jeff Bezos, Lean Startup, Lyft, Marc Andreessen, Mark Zuckerberg, Menlo Park, minimum viable product, new economy, Paul Graham, pre–internet, quantitative easing, ride hailing / ride sharing, Rosa Parks, Sand Hill Road, sharing economy, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, Skype, Snapchat, software as a service, South of Market, San Francisco, Steve Ballmer, Steve Jobs, Steve Wozniak, telemarketer, tulip mania, Y Combinator, éminence grise

But the market was ready for a new set of technology innovations, and Netscape was the right company in the right place at the right time with the right team. Over the course of its brief existence Netscape lost a lot of money, but nevertheless a few people got rich. In 1999, at the peak of the dotcom bubble, AOL acquired Netscape in a deal worth $10 billion when it closed. After that Netscape more or less disappeared. Yet one Netscape co-founder, Marc Andreessen, reportedly walked away with shares worth nearly $100 million. Another co-founder, Jim Clark, reportedly made $2 billion. “On the Internet, nobody knows you’re a dog” is the famous line from a 1993 New Yorker cartoon. The tale of Netscape added a new twist: On the Internet, at least when it comes to investments, nobody cares if you’re a dog. The Netscape IPO set off the dotcom frenzy. In Silicon Valley it was as if someone had flipped a switch.

In April 2013, Google Ventures published a photograph that captures the essence of the second Internet bubble. The photograph appeared on countless websites, but when I asked Google for permission to use it in this book, the company asked what context I would be using it in, and when I told them, they refused. So instead of running the full photograph, I will just show you two of the people in it: The one on the left, with the cone head, is Marc Andreessen of Andreessen Horowitz. The one on the right is John Doerr of Kleiner Perkins Caufield & Byers. Look how smug they are, how sure of themselves! These two grown men wearing the hideous face computer called Google Glass are two of the most respected investors in Silicon Valley, and they represent two of the most important venture capital firms. The photograph from which these images are taken was released as part of the announcement of the Glass Collective, a special fund created to invest in companies that would develop applications for Google Glass, which Andreessen and Doerr described as a “potentially transformative technology.”

In 2009 Andreessen was just another guy with a new venture fund, albeit a guy with a famous name. Six years later he is probably the best known and arguably the most influential investor in Silicon Valley. “Guys running start-ups love him. They all want to meet him,” one Boston-based venture capitalist says. “Every time I meet with a start-up, the first question they ask me is, ‘Do you know Marc Andreessen? Can you introduce us to him?’ He’s like a rock star.” Says another venture capitalist: “If you take money from Andreessen Horowitz, your valuation doubles or triples just because they’re involved. Why? Because they’re Andreessen Horowitz.” Andreessen is a physically imposing man: six feet, four inches tall and heavyset, with an enormous shaved head. He’s an avid Twitter user, sometimes posting more than one hundred tweets a day, pontificating and picking fights.


pages: 375 words: 88,306

The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism by Arun Sundararajan

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3D printing, additive manufacturing, Airbnb, Amazon Mechanical Turk, autonomous vehicles, barriers to entry, basic income, bitcoin, blockchain, Burning Man, call centre, collaborative consumption, collaborative economy, collective bargaining, commoditize, corporate social responsibility, cryptocurrency, David Graeber, distributed ledger, employer provided health coverage, Erik Brynjolfsson, ethereum blockchain, Frank Levy and Richard Murnane: The New Division of Labor, future of work, George Akerlof, gig economy, housing crisis, Howard Rheingold, information asymmetry, Internet of things, inventory management, invisible hand, job automation, job-hopping, Kickstarter, knowledge worker, Kula ring, Lyft, Marc Andreessen, megacity, minimum wage unemployment, moral hazard, moral panic, Network effects, new economy, Oculus Rift, pattern recognition, peer-to-peer, peer-to-peer lending, peer-to-peer model, peer-to-peer rental, profit motive, purchasing power parity, race to the bottom, recommendation engine, regulatory arbitrage, rent control, Richard Florida, ride hailing / ride sharing, Robert Gordon, Ronald Coase, Second Machine Age, self-driving car, sharing economy, Silicon Valley, smart contracts, Snapchat, social software, supply-chain management, TaskRabbit, The Nature of the Firm, total factor productivity, transaction costs, transportation-network company, two-sided market, Uber and Lyft, Uber for X, universal basic income, Zipcar

When combined with peer-to-peer filesharing technologies, cryptographic techniques, and a novel incentive system, Bitcoin showed how a blockchain-based system could be used as the basis for trusted peer-to-peer transactions without a third-party intermediary, instead using the crowd—a decentralized network of “verifiers”—to clear transactions. The promise of blockchain-based systems like Bitcoin was encapsulated well in a January 2014 New York Times article by venture capitalist Marc Andreessen, a long-time Internet entrepreneur and investor who created the first web browser Mosaic in 1993: Bitcoin gives us, for the first time, a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer.

See Folasade Osisanwo, Shade Kuyoro, and Oludele Awodele, “Internet Refrigerator—A Typical Internet of Things (IoT),” http://iieng.org/siteadmin/upload/2602E0315051.pdf. Also see Fred Butcher, “What Is a Smart Refrigerator,” https://fredsappliance.com/2014/06/smart-refrigerator/ for an interesting historical overview. 8. For an overview of the drone delivery technology tested by Amazon in 2014, see http://www.amazon.com/b?node=8037720011. 9. Marc Andreessen, “Why Bitcoin Matters,” New York Times, January 21, 2014, http://dealbook.nytimes.com/2014/01/21/why-bitcoin-matters/. 9. See Chris Anderson, The Long Tail: Why the Future of Business Is Selling Less of More (New York: Hyperion, 2008). 10. Jason Tanz, “How Airbnb and Lyft Finally Got Americans to Trust Each Other,” Wired, April 23, 2014, http://www.wired.com/2014/04/trust-in-the-share-economy. 11.

And USV is hardly alone in its interest in this technology. Adam Ludwin, a partner at RRE Ventures, currently runs a startup called Chain that is also funded by the famed Silicon Valley investor Vinod Khosla. RRE, along with the venture capital firm Andreessen Horowitz, has also invested in Ripple Labs, which is building a blockchain-based market for interbank settlement. Andreessen Horowitz partners Marc Andreessen and Chris Dixon frequently express significant levels of excitement about the commercial promise of the blockchain. These are just a few examples of a new marketplace technology paradigm that may power the next generation of crowd-based capitalism, To better appreciate the economic and social impacts of these marketplaces, we first need to understand how some of them work. The right place to start is by understanding Bitcoin.


pages: 176 words: 55,819

The Start-Up of You by Reid Hoffman

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Airbnb, Andy Kessler, Black Swan, business intelligence, Cal Newport, Clayton Christensen, commoditize, David Brooks, Donald Trump, en.wikipedia.org, fear of failure, follow your passion, future of work, game design, Jeff Bezos, job automation, late fees, Marc Andreessen, Mark Zuckerberg, Menlo Park, out of africa, Paul Graham, Peter Thiel, recommendation engine, Richard Bolles, risk tolerance, rolodex, shareholder value, side project, Silicon Valley, Silicon Valley startup, social web, Steve Jobs, Steve Wozniak, Tony Hsieh, transaction costs

Invaluable for any person who wants to be a successful entrepreneur—not in a particular company, but in the most important enterprise of all: one’s own life.” —CORY BOOKER, mayor of Newark, New Jersey “Silicon Valley revolutionizes entire industries through the way we work. It is now time to export our playbook to the rest of the world. The Start-up of You is that key playbook: it will help you revolutionize yourself and achieve your own career breakout.” —MARC ANDREESSEN, venture capitalist and director at HP, Facebook, and eBay “In times of change and uncertainty … adaptability creates stability. Insights like this make The Start-up of You such a compelling new way to approach your life. Hoffman and Casnocha have distilled the essence of entrepreneurship into a potion for personal success, regardless of your career plans.” —JOHN ETCHEMENDY, provost, Stanford University “If work and career were a game, The Start-up of You would be your playbook.

During that time he flew his own airline at least once a week, worked the cabin, and blogged about his experience: “Each week I fly on JetBlue flights and talk to customers so I can find out how we can improve our airline,” he wrote.6 Schultz and Neeleman had tremendous vision when they founded their start-ups. Yet from day one they focused on the needs of their customers and stakeholders. For all their smarts and vision, they knew well what VC and friend Marc Andreessen likes to say: Markets that don’t exist don’t care how smart you are. Similarly, it doesn’t matter how hard you’ve worked or how passionate you are about an aspiration: If someone won’t pay you for your services in the career marketplace, it’s going to be a very hard slog. You aren’t entitled to anything. Studying the market realities doesn’t have to be a limiting, negative exercise. There are always industries, places, people, and companies with momentum.


pages: 222 words: 54,506

One Click: Jeff Bezos and the Rise of Amazon.com by Richard L. Brandt

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Amazon Web Services, automated trading system, big-box store, call centre, cloud computing, Dynabook, Elon Musk, inventory management, Jeff Bezos, Kevin Kelly, Marc Andreessen, new economy, science of happiness, search inside the book, Silicon Valley, Silicon Valley startup, skunkworks, software patent, Steve Jobs, Stewart Brand, Tony Hsieh, Whole Earth Catalog, Y2K

Another came in 1991, when the Internet was opened up to commercial use for the first time. It took several more years before these changes caught on and spread to popular awareness. In 1993, a government-funded group at the University of Illinois at Urbana-Champaign created a new generation of Web browser called Mosaic, a wonderful, graphics-based browser. The following year, a very astute Silicon Valley venture capitalist named John Doerr decided to recruit a bright young man, Marc Andreessen, from the Mosaic team in Illinois to move to Silicon Valley and start a Web browser company. That same year the company, called Netscape, launched its browser, Navigator. Shaw decided the Internet had a future, and gave Bezos the task of finding the opportunities there. In the spring of 1994, he began researching the Internet, and was impressed with what he found. Primarily, he says, he came across an important statistic: The Internet was growing at 2,300 percent a year!

He created a hyperlink program (which allows Internet surfers to jump from one Internet site to another by clicking on the link) but abandoned it when he discovered the Mosaic Web browser. Mosaic was developed at the National Center for Supercomputing Applications (NCSA) at the Urbana-Champaign campus of the University of Illinois, becoming the first (and, many people still feel, the best) browser to take advantage of the newly created World Wide Web. Davis hoped to integrate his hyperlink program into that browser, and contacted Marc Andreessen, a smart computer science student at the University of Illinois who codeveloped Mosaic. If that collaboration had worked, Davis might have joined Netscape Communications, which Andreessen later founded, and made his fortune there. But Mosaic and Davis’s hyperlink system were too incompatible, and Davis had to look elsewhere to join the new wave of bright engineers and entrepreneurs hoping to build new products and companies on the Internet.


pages: 223 words: 52,808

Intertwingled: The Work and Influence of Ted Nelson (History of Computing) by Douglas R. Dechow

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3D printing, Apple II, Bill Duvall, Brewster Kahle, Buckminster Fuller, Claude Shannon: information theory, cognitive dissonance, computer age, conceptual framework, Douglas Engelbart, Douglas Engelbart, Dynabook, Edward Snowden, game design, HyperCard, hypertext link, information retrieval, Internet Archive, Jaron Lanier, knowledge worker, linked data, Marc Andreessen, Marshall McLuhan, Menlo Park, Mother of all demos, pre–internet, RAND corporation, semantic web, Silicon Valley, software studies, Steve Jobs, Steve Wozniak, Stewart Brand, Ted Nelson, the medium is the message, Vannevar Bush, Wall-E, Whole Earth Catalog

I’m just trying to create the rational system the web should have been in the first place and would have been if we hadn’t screwed up politically. Tim Berners-Lee fashioned a way of pointing at conventional files and conventional directories via path names, visible to the user, over the Net. To me the notion of files and hierarchical directories is an unfortunate tradition that messes up the very nature of content. Marc Andreessen added Technicolor, all the special effects garbage he could cram in, glorifying, fetishizing these hierarchical directories which are now called websites and are located at URLs. So you have one-way, ever-breaking links, a shop window model, whereas you don’t want to have to put it in a single place. That’s like saying that such and such a book is the book you’ll find on the fourth shelf, third from the right.

He got the fact that scruffy works, in other words he allowed for human frailty by allowing for the links to fail. He also gave it away so there was no economic barrier to people using it. I think that’s what really made the difference to the uptake. The problem we now have of course is that nobody owns the system that has subsequently been created, but that’s another whole story. We must also give credit of course to Marc Andreessen and his team at NCSA for their development of the Mosaic browser for the Web in 1993, which made it much easier for people to access the Web. At ACM Hypertext’93, half the demos were Web-based, and the first Web conference was in May 1994. We were still developing Microcosm as a research system, and we produced a commercial version in 1994, which did very well for a while. The company we set up raised over £13 million pounds of investment funding and is still in existence today, but by the end of the 1990s my research group was almost entirely focused on Web-based developments and much of the interesting hypermedia work encapsulated within the Microcosm project had to be shelved until the Semantic Web was mature enough to become an alternative development platforms.


pages: 52 words: 14,333

Growth Hacker Marketing: A Primer on the Future of PR, Marketing, and Advertising by Ryan Holiday

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Airbnb, iterative process, Kickstarter, Lean Startup, Marc Andreessen, market design, minimum viable product, Paul Graham, pets.com, Silicon Valley, slashdot, Steve Wozniak

They look to see what hot topics other influential bloggers are riding and find ways of addressing them in their book. The latter achieves PMF; the former never does. One is growth hacking; the other, simply guessing. One is easy for me to market. The other is often a lost cause. One needs only a small shove to get going. The other has a strong headwind every step of the way. Perhaps you get there in one aha! moment like Instagram, or it may be incremental 1 percent improvements. As Marc Andreessen, the entrepreneur behind Netscape, Opsware, and Ning, who in addition to running a major venture capital fund happens to be on the board of directors for Facebook, eBay, and HP, explains it, companies need to “do whatever is required to get to product/market fit. Including changing out people, rewriting your product, moving into a different market, telling customers no when you don’t want to, telling customers yes when you don’t want to, raising that fourth round of highly dilutive venture capital—whatever is required.”8 In other words: everything is now on the table.


pages: 56 words: 16,788

The New Kingmakers by Stephen O'Grady

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Amazon Web Services, barriers to entry, cloud computing, correlation does not imply causation, crowdsourcing, David Heinemeier Hansson, DevOps, Jeff Bezos, Khan Academy, Kickstarter, Marc Andreessen, Mark Zuckerberg, Netflix Prize, Paul Graham, Ruby on Rails, Silicon Valley, Skype, software as a service, software is eating the world, Steve Ballmer, Steve Jobs, Tim Cook: Apple, Y Combinator

For years, technology vendors relied on business partners to increase their reach; today, businesses turn to developers. Not just technology businesses: all businesses. Everyone from ESPN to Nike to Sears now offers APIs. Why? Because they recognize that they can’t do it alone, and perhaps because they’re looking at the world around them and seeing that it’s increasingly run by software. As Marc Andreessen noted in his Wall Street Journal op-ed “Why Software is Eating the World,” the world’s largest bookseller (Amazon), largest video service by number of subscribers (Netflix), most-dominant music companies (Apple, Spotify, and Pandora), fastest-growing entertainment companies (Rovio, Zynga), fastest-growing telecom company (Skype), largest direct marketing company (Google), and best new movie production company (Pixar) are all fundamentally software companies.

The Economic Singularity: Artificial intelligence and the death of capitalism by Calum Chace

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3D printing, additive manufacturing, agricultural Revolution, AI winter, Airbnb, artificial general intelligence, augmented reality, autonomous vehicles, banking crisis, basic income, Baxter: Rethink Robotics, Berlin Wall, Bernie Sanders, bitcoin, blockchain, call centre, Chris Urmson, congestion charging, credit crunch, David Ricardo: comparative advantage, Douglas Engelbart, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, Flynn Effect, full employment, future of work, gender pay gap, gig economy, Google Glasses, Google X / Alphabet X, ImageNet competition, income inequality, industrial robot, Internet of things, invention of the telephone, invisible hand, James Watt: steam engine, Jaron Lanier, Jeff Bezos, job automation, John Markoff, John Maynard Keynes: technological unemployment, John von Neumann, Kevin Kelly, knowledge worker, lifelogging, lump of labour, Lyft, Marc Andreessen, Mark Zuckerberg, Martin Wolf, McJob, means of production, Milgram experiment, Narrative Science, natural language processing, new economy, Occupy movement, Oculus Rift, PageRank, pattern recognition, post scarcity, post-industrial society, precariat, prediction markets, QWERTY keyboard, railway mania, RAND corporation, Ray Kurzweil, RFID, Rodney Brooks, Satoshi Nakamoto, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Skype, software is eating the world, speech recognition, Stephen Hawking, Steve Jobs, TaskRabbit, technological singularity, The Future of Employment, Thomas Malthus, transaction costs, Tyler Cowen: Great Stagnation, Uber for X, universal basic income, Vernor Vinge, working-age population, Y Combinator, young professional

The IoT is becoming possible because the component parts (sensors, chips, transmitters, batteries) are becoming cheaper and smaller at – yes – an exponential rate. The technology research company Gartner forecast in December 2013 that 26 billion digitally accessible devices would be installed by 2020, a 30-fold increase within a decade.[cxxxvi] Many of these devices have multiple sensors – smartphones can have as many as 30 each.[cxxxvii] Looking further ahead, the internet entrepreneur Marc Andreessen predicts that by 2035, every physical item will have a chip implanted in it. "The end state is fairly obvious – every light, every doorknob will be connected to the internet.”[cxxxviii] Making the environment intelligible offers tremendous opportunities. A bridge, building, plane, car or refrigerator with embedded sensors can let you know when a key component is about to fail, enabling it to be replaced safely without the loss of convenience, money, or life which unforeseen failure might have caused.

4986 [cxxxiv] http://www.vdi-nachrichten.com/Technik-Gesellschaft/Industrie-40-Mit-Internet-Dinge-Weg-4-industriellen-Revolution [cxxxv] Coined by another British entrepreneur, Simon Birrell: https://www.linkedin.com/in/simonbirrell [cxxxvi] http://www.gartner.com/newsroom/id/2636073 [cxxxvii] http://singularityhub.com/2016/02/09/when-the-world-is-wired-the-magic-of-the-internet-of-everything/ [cxxxviii] http://www.telegraph.co.uk/technology/internet/12050185/Marc-Andreessen-In-20-years-every-physical-item-will-have-a-chip-implanted-in-it.html [cxxxix] http://www.information-age.com/it-management/strategy-and-innovation/123460379/trains-brains-how-artificial-intelligence-transforming-railway-industry [cxl] http://home.cern/topics/birth-web [cxli] http://www.theguardian.com/technology/2016/jan/31/viv-artificial-intelligence-wants-to-run-your-life-siri-personal-assistants [cxlii] Not an everyday object outside the USA, of course [cxliii] http://www.bloomberg.com/news/articles/2016-01-11/google-chairman-thinks-ai-can-help-solve-world-s-hard-problems- [cxliv] This is actually a great idea, which is being trialled in Argentina at the time of writing: http://www.telegraph.co.uk/motoring/motoringvideo/11680348/Transparent-trucks-with-rear-mounted-Samsung-safety-screens-set-to-save-overtaking-drivers.html Of course it may be less valuable when cars drive themselves and their human occupants don’t look at the road.


pages: 103 words: 24,033

The Immigrant Exodus: Why America Is Losing the Global Race to Capture Entrepreneurial Talent by Vivek Wadhwa

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3D printing, card file, corporate governance, crowdsourcing, Elon Musk, immigration reform, labour mobility, Marc Andreessen, open economy, pattern recognition, Ray Kurzweil, Sand Hill Road, Silicon Valley, Silicon Valley startup, software as a service, the new new thing, Y2K

The only advocates for skilled immigrants of any real influence, the large US multinationals that hire H-1Bs and the US Chamber of Commerce, have not made immigration reform a defining issue or a top priority. The only people who care enough to shout from the rooftops are venture capitalists and those interested in maintaining the United States as the leading incubator for startups—people like venture capitalist Brad Feld, LinkedIn founder Reid Hoffman, Netscape co-founder Marc Andreessen, and Google chairman Eric Schmidt. The loudest government voice has been New York City mayor Michael Bloomberg, who has called US immigration policies “economic suicide.” Ironically, the highly accomplished foreigners in our midst who admire America also see the danger we face most clearly. In response to an article I had written about the American brain drain for BusinessWeek magazine in April 2009, predicting an American brain drain, Alcoa CEO Klaus Kleinfeld wrote an email of thanks.


pages: 468 words: 124,573

How to Build a Billion Dollar App: Discover the Secrets of the Most Successful Entrepreneurs of Our Time by George Berkowski

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Airbnb, Amazon Web Services, barriers to entry, Black Swan, business intelligence, call centre, crowdsourcing, en.wikipedia.org, game design, Google Glasses, Google Hangouts, Google X / Alphabet X, iterative process, Jeff Bezos, Jony Ive, Kickstarter, knowledge worker, Lean Startup, loose coupling, Marc Andreessen, Mark Zuckerberg, minimum viable product, move fast and break things, move fast and break things, Network effects, Oculus Rift, Paul Graham, QR code, Ruby on Rails, self-driving car, Silicon Valley, Silicon Valley startup, Skype, Snapchat, social graph, software as a service, software is eating the world, Steve Jobs, Steven Levy, Y Combinator

It may seem unbelievable, but at the end of this chapter, if everything goes to plan, you will have an operational app that will be delighting users and gaining real traction out there in the real world; you’ll be making real revenue (ideally) and your team will be growing, probably to around 7–10 people (though this depends on how much revenue you’re earning or how much money you’ve raised). If you hit the product–market fit faster, then you could be a lot bigger than that. Whatever happens, it’s going to be a big transformation. Chapter 14 Make Something People Love ‘The life of any startup can be divided into two parts – before product–market fit and after product–market fit’ #BILLIONDOLLARAPP Marc Andreessen was the co-creator of Mosaic, the first widely used Web browser; he was cofounder of Netscape; he is the cofounder and general partner of Silicon Valley venture capital firm Andreessen Horowitz. He sits on the board of directors of Facebook, eBay and HP, among others. He’s a pretty smart guy who knows a thing or two about tech. Andreessen explains on his blog,1 ‘… the life of any startup can be divided into two parts – before product–market fit (BPMF) and after product–market fit (APMF).’

So there will always be a great – albeit risky – opportunity to create an app that captures and holds people’s attention. If you can build something truly sticky, there will always be someone waiting in shadows with the ability to monetise it. Non-Tech Corporations are Eating Startups Google, Facebook, Twitter and Yahoo! are seeing the competition heat up in the race to acquire the best software startups. Marc Andreessen is the cofounder and general partner of venture-capital firm Andreessen Horowitz, which has invested in Facebook, Groupon, Skype, Twitter, Zynga and Foursquare, among others. He is not alone in saying, ‘We believe that many of the prominent new Internet companies are building real, high-growth, high-margin, highly defensible businesses.’20 As Internet startups build more robust businesses, faster, they are becoming highly prized acquisition targets.21 Non-tech companies are now making billion-dollar acquisitions that no one would have dreamed possible.

, article on Forbes.com, 8 July 2013, www.forbes.com/sites/cherylsnappconner/2013/06/08/facebooks-reality-check-death-by-a-thousand-snapchats/. 17 Kara Swisher, ‘Yahoo Tumblrs for Cool: Board Approves $1.1 Billion Deal as Expected’, article on AllThingsD.com, 19 May 2013, allthingsd.com/20130519/yahoo-tumblrs-for-cool-board-approves-1-1-billion-deal/. 18 Todd Wasserman, ‘Tumblr’s Mobile Traffic May Overtake Desktop Traffic This Year’, article on Mashable.com, 21 February 2013, mashable.com/2013/02/21/tumblr-mobile-traffic/. 19 Ibid. 20 Marc Andreessen, ‘Why Software Is Eating the World’, article on WSJ.com, 20 August 2011, online.wsj.com/news/articles/ SB10001424053111903480 904576512250915629460. 21 Leena Rao, ‘As Software Eats the World, Non-Tech Corporations Are Eating Startups’, article on TechCrunch.com, 14 December 2013, TechCrunch.com/2013/12/14/as-software-eats-the-world-non-tech-corporations-are-eating-startups/. 22 Alexia Tsotsis, ‘Monsanto Buys Weather Big Data Company Climate Corporation for Around $1.1B’, article on TechCrunch.com, 2 October 2013, TechCrunch.com/2013/10/02/monsanto-acquires-weather-big-data-company-climate-corporation-for-930m/. 23 Leena Rao, 14 December 2013, op. cit. 24 Ibid. 25 Pitchbook, US, ‘VC Valuations and Trends’, 2014 annual report. 26 ‘Yesterday’s Big Payday for the IRS: 1600 Twitter Employees Now Millionaires’, research on PrivCo.com, 8 November 2013, www.privco.com/the-twitter-mafia-and-yesterdays-big-irs-payday. 27 Sven Grundberg, ‘“Candy Crush Saga” Maker Files for an IPO’, article on WSJ.com, 18 February 2014, online.wsj.com/news/articles/SB10001424052702304675504579390580161044024. 28 ‘UK Mobile Games Maker King Delays IPO Due to Candy Crush Surge’, article on VCPost.com, 9 December 2013, www.vcpost.com/articles/19437/20131209/uk-mobile-games-maker-king-delays-ipo-due-candy-crush.htm. 29 Phillipa Leighton-Jones, ‘Why Candy Crush Is a Success That’s Hard to Copy’, blog post on WSJ.com, 18 February 2014, blogs.wsj.com/money-beat/2014/02/18/why-candy-crush-is-a-success-that-cannot-be-copied/. 30 Mark Berniker and Josh Lipton, ‘Uber CEO Kalanick: No Plans To Go Public Right Now’, article on CNBC.com, 6 November 2013, www.cnbc.com/id/101175342.


pages: 464 words: 155,696

Becoming Steve Jobs: The Evolution of a Reckless Upstart Into a Visionary Leader by Brent Schlender, Rick Tetzeli

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Albert Einstein, Apple II, Apple's 1984 Super Bowl advert, Bill Gates: Altair 8800, Bob Noyce, Byte Shop, computer age, corporate governance, El Camino Real, Isaac Newton, John Markoff, Jony Ive, Marc Andreessen, market design, McMansion, Menlo Park, Paul Terrell, popular electronics, QWERTY keyboard, Ronald Reagan, Sand Hill Road, side project, Silicon Valley, Silicon Valley startup, skunkworks, Steve Ballmer, Steve Jobs, Steve Wozniak, Steven Levy, Stewart Brand, Tim Cook: Apple, Wall-E, Watson beat the top human players on Jeopardy!, Whole Earth Catalog

Google understood this, and within eighteen months developed Android, a free knockoff of the iPhone’s operating system software that powered phones made by the likes of Samsung, LG, HTC, and later an upstart Chinese handset maker named Xiaomi. A new race was on, and Apple had the lead. Android handsets would eventually outsell iPhones, but this has not been a redux of the Macintosh experience. At least not yet. Marc Andreessen, the cofounder of Netscape who has become a highly successful Silicon Valley venture capitalist, calls the introduction of the iPhone a seminal event that “flipped the polarity” of what makes Silicon Valley go. Once upon a time, wealthy entities like the military and big corporations drove technological change. They were the only ones who could afford machines with leading-edge components. No more.

Had I gone to the reception after the memorial service in the Rodin Sculpture Garden of the Cantor Arts Center, a short stroll from the Stanford Chapel, I would have received a copy of Paramahansa Yogananda’s book The Autobiography of a Yogi, which was handed to each guest, in brown paper wrapping. I also would have walked into a who’s who of Silicon Valley, a gathering of the men, and a smattering of women, who had started the PC and Internet revolutions. John Doerr, Eric Schmidt, and Michael Dell were there, and the younger generation was represented by Sergey Brin and Jerry Yang and Marc Andreessen. But the core members from Apple’s birth were there, too; Woz, Regis McKenna, Bud Tribble, Andy Hertzfeld, Bill Atkinson, and others. Lee Clow and James Vincent were there, as were NeXT veterans such as Susan Barnes and Mike Slade. The latter came with Bill Gates in tow. “When Bill had gone to visit Steve at his house in May,” says Slade, “he got to know Steve’s youngest daughter, Evie, because both she and Bill’s daughter, Jennifer, do horse showing.

Aside from snippets from my own encounters with Jobs, most of the direct quotations in this chapter were drawn from interviews with Eddy Cue on April 29, 2014; Fred Anderson on August 8, 2012; Avie Tevanian on October 11, 2012; Tim Cook on April 30, 2014; Jon Rubinstein on July 25, 2012; Jony Ive on May 6, 2014, and June 10, 2014; John Doerr on May 7, 2014; Jean-Louis Gassée on October 17, 2012; and Marc Andreessen on May 7, 2014. Online resources we consulted include Fastcodesign.com, the Fast Company magazine website that focuses on design, May 22, 2014, http://www.fastcodesign.com/3030923/4-myths-about-apple-design-from-an-ex-apple-designer; and the blog by former Apple engineer Don Melton, donmelton.com/2014/04/10/memories-of-steve/. Also, Apple SEC filings provided unit sales data each quarter from Fiscal Year 2000 through Fiscal Year 2013.


pages: 317 words: 84,400

Automate This: How Algorithms Came to Rule Our World by Christopher Steiner

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23andMe, Ada Lovelace, airport security, Al Roth, algorithmic trading, backtesting, big-box store, Black-Scholes formula, call centre, cloud computing, collateralized debt obligation, commoditize, Credit Default Swap, credit default swaps / collateralized debt obligations, delta neutral, Donald Trump, Douglas Hofstadter, dumpster diving, Flash crash, Gödel, Escher, Bach, High speed trading, Howard Rheingold, index fund, Isaac Newton, John Markoff, John Maynard Keynes: technological unemployment, knowledge economy, late fees, Marc Andreessen, Mark Zuckerberg, market bubble, medical residency, money market fund, Myron Scholes, Narrative Science, PageRank, pattern recognition, Paul Graham, Pierre-Simon Laplace, prediction markets, quantitative hedge fund, Renaissance Technologies, ride hailing / ride sharing, risk tolerance, Sergey Aleynikov, side project, Silicon Valley, Skype, speech recognition, Spread Networks laid a new fibre optics cable between New York and Chicago, transaction costs, upwardly mobile, Watson beat the top human players on Jeopardy!, Y Combinator

A fellow Mississippian came immediately to mind. James Barksdale had burnished his résumé as the COO of FedEx during the 1980s and as CEO of AT&T Wireless, which he propelled to the top of the telecom heap before he was tapped to be CEO by one of the most legendary companies Silicon Valley ever produced. Netscape came out of the University of Illinois at Urbana-Champaign in the 1990s when students led by Marc Andreessen developed the first popular Web browser, then called Mosaic, which ushered in the age of the Internet. Modern browsers still carry much of the code Andreessen and his team produced while in school. And though Andreessen wrote the code and started the revolution, ending up on the cover of Time magazine at the age of twenty-four, it was Barksdale who helped Netscape become one of the hottest companies of the tech boom before AOL bought it in 1998 for $4.2 billion.

But that period ended abruptly with the tech crash of 1988, which was partially brought on by the 1987 stock market disaster. Following that, computer science remained an unpopular college major for almost ten years. But then came AOL, Netscape, eBay, and Yahoo! A new class of millionaire was born and computer science schools’ enrollments jumped again. When I was an engineering student at the University of Illinois in the late 1990s, the school was riding a wave of alumni successes, including those of Marc Andreessen (Netscape), Max Levchin (PayPal), and later the founders of YouTube and Yelp! The computer science building at U of I was the busiest place on the engineering quad. Students regularly departed for Silicon Valley before they graduated, and stories of dot-com gold kept the quad buzzing. Even mediocre students seemed to be snaring signing bonuses, stock options, and some fuzzy guarantee of Web glory upon graduation.


pages: 308 words: 84,713

The Glass Cage: Automation and Us by Nicholas Carr

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Airbnb, Airbus A320, Andy Kessler, Atul Gawande, autonomous vehicles, Bernard Ziegler, business process, call centre, Captain Sullenberger Hudson, Checklist Manifesto, cloud computing, computerized trading, David Brooks, deliberate practice, deskilling, digital map, Douglas Engelbart, drone strike, Elon Musk, Erik Brynjolfsson, Flash crash, Frank Gehry, Frank Levy and Richard Murnane: The New Division of Labor, Frederick Winslow Taylor, future of work, global supply chain, Google Glasses, Google Hangouts, High speed trading, indoor plumbing, industrial robot, Internet of things, Jacquard loom, Jacquard loom, James Watt: steam engine, job automation, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, Kevin Kelly, knowledge worker, Lyft, Marc Andreessen, Mark Zuckerberg, means of production, natural language processing, new economy, Nicholas Carr, Norbert Wiener, Oculus Rift, pattern recognition, Peter Thiel, place-making, Plutocrats, plutocrats, profit motive, Ralph Waldo Emerson, RAND corporation, randomized controlled trial, Ray Kurzweil, recommendation engine, robot derives from the Czech word robota Czech, meaning slave, Second Machine Age, self-driving car, Silicon Valley, Silicon Valley ideology, software is eating the world, Stephen Hawking, Steve Jobs, TaskRabbit, technoutopianism, The Wealth of Nations by Adam Smith, turn-by-turn navigation, US Airways Flight 1549, Watson beat the top human players on Jeopardy!, William Langewiesche

Robots may have been at the factory gate in the 1950s, but it’s only recently that they’ve marched, on our orders, into offices, shops, and homes. Today, as software of what Wiener termed “the judgment-replacing type” moves from our desks to our pockets, we’re at last beginning to experience automation’s true potential for changing what we do and how we do it. Everything is being automated. Or, as Netscape founder and Silicon Valley grandee Marc Andreessen puts it, “software is eating the world.” 48 That may be the most important lesson to be gleaned from Wiener’s work—and, for that matter, from the long, tumultuous history of labor-saving machinery. Technology changes, and it changes more quickly than human beings change. Where computers sprint forward at the pace of Moore’s law, our own innate abilities creep ahead with the tortoise-like tread of Darwin’s law.

See also David F. Noble, Forces of Production: A Social History of Industrial Automation (New York: Alfred A. Knopf, 1984), 67–71. 44.Noble, Forces of Production, 234. 45.Ibid., 21–40. 46.Wiener, Human Use of Human Beings, 148–162. 47.Quoted in Flo Conway and Jim Siegelman, Dark Hero of the Information Age: In Search of Norbert Wiener, the Father of Cybernetics (New York: Basic Books, 2005), 251. 48.Marc Andreessen, “Why Software Is Eating the World,” Wall Street Journal, August 20, 2011. Chapter Three: ON AUTOPILOT 1.The account of the Continental Connection crash draws primarily from the National Transportation Safety Board’s Accident Report AAR-10/01: Loss of Control on Approach, Colgan Air, Inc., Operating as Continental Connection Flight 3407, Bombardier DHC 8-400, N200WQ, Clarence, New York, February 12, 2009 (Washington, D.C.: NTSB, 2010), www.ntsb.gov/doclib/reports/2010/aar1001.pdf.


pages: 290 words: 94,968

Writing on the Wall: Social Media - the First 2,000 Years by Tom Standage

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Bill Duvall, British Empire, Edmond Halley, Edward Lloyd's coffeehouse, invention of the printing press, invention of writing, Isaac Newton, knowledge worker, Leonard Kleinrock, Marc Andreessen, Mark Zuckerberg, Menlo Park, Mohammed Bouazizi, New Journalism, packet switching, place-making, Republic of Letters, sexual politics, The Structural Transformation of the Public Sphere, The Wealth of Nations by Adam Smith, theory of mind, yellow journalism

In early 1991 Berners-Lee made his WorldWideWeb browser and server software freely available over the Internet, at first to other researchers in the field of high-energy physics, and th a survey carried out in wieen, in the summer of 1991, to anyone else who was interested. Because he had written his software for the NeXTStep computer, which was not widely used, Berners-Lee and his colleague Robert Cailliau encouraged other people to write new versions that could run on different kinds of computers. One of those inspired by the possibilities of this emerging web of documents was Marc Andreessen, a student at the National Center for Supercomputing Applications at the University of Illinois. He and his colleague Eric Bina wrote a new web browser called Mosaic. Although it was originally written for the UNIX-based machines used in academia, Mosaic was then rewritten to run on PCs and Macintosh computers used in homes and offices. Easy to install and use, and able to display graphics embedded in web pages, rather than in a separate on-screen window, Mosaic made the web accessible to the general public for the first time.

Berners-Lee eventually prevailed and on April 30, 1993, his bosses at CERN issued a formal declaration that the web’s underlying standards would always be royalty-free. “Without that, it never would have happened,” he says. Instead, the commercial exploitation of the web was left to others, and at the foref purgatory right awayo IQront of the emerging Internet boom was Netscape Communications, the company cofounded by Marc Andreessen. Unable to get permission from the University of Illinois to use the Mosaic name, his company launched a new version of the browser under the name Netscape Navigator. It quickly became the world’s most widely used web browser as the online population mushroomed, growing from fewer than 5 million mostly academic users in 1991 to 40 million people in 1995, 70 million in 1998, and around 250 million by 2000.


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Running Money by Andy Kessler

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Andy Kessler, Apple II, bioinformatics, Bob Noyce, British Empire, business intelligence, buy low sell high, call centre, Corn Laws, Douglas Engelbart, family office, full employment, George Gilder, happiness index / gross national happiness, interest rate swap, invisible hand, James Hargreaves, James Watt: steam engine, joint-stock company, joint-stock limited liability company, knowledge worker, Leonard Kleinrock, Long Term Capital Management, mail merge, Marc Andreessen, margin call, market bubble, Maui Hawaii, Menlo Park, Metcalfe’s law, Network effects, packet switching, pattern recognition, pets.com, railway mania, risk tolerance, Robert Metcalfe, Sand Hill Road, Silicon Valley, South China Sea, spinning jenny, Steve Jobs, Steve Wozniak, Toyota Production System, zero-sum game

“I like software too, the margins are great, but it’s impossible to protect. Microsoft has a business because they tie Windows to real hardware. Tough to pull that off again. But you can leverage yours with that direct marketing model, and you’ll own the Internet.” “And drop that Doerr guy,” Harris slurred. Kleiner Perkins did the Mosaic deal by themselves, shutting my ass out. Why am I telling you this sad story? Because Mosaic broke the 80-20 barrier. Marc Andreessen was working at the National Center for Supercomputing Applications at the University of Illinois and was sick of typing in command line prompts to get what he wanted from the Internet. So he and a few other folks devised a browser— with pages of links to other pages. Actually, it was what Doug Engelbart had envisioned and even crudely demo’ed in 1968. Andreessen made it hum by allowing his browser to pull multiple packets at a time from the Internet rather than one at a time.

Not only did routers hook LANs to wide area networks, or WANs, that comprised the Internet, but Cisco routers actually became the backbone of the Internet. New companies like UUNET and America Online would use Cisco routers in the middle of their networks to move packets around, as well as at the edge of their networks to connect to banks of dial-up modems so users could call in and connect. Marc Andreessen took advantage of these routers. For Cisco, the effect was magic. Browsers blew away the 80-20 rule. They probably flipped it to the 20-80 rule, meaning only 20% of networking was local and the rest had to go through a router to request information and packets from the Internet. Demand for routers exploded. A simple invention, a tiny packet reassembly program named a browser, caused demand to shift rapidly.


pages: 275 words: 84,418

Dogfight: How Apple and Google Went to War and Started a Revolution by Fred Vogelstein

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Apple II, cloud computing, commoditize, disintermediation, don't be evil, Dynabook, Firefox, Google Chrome, Google Glasses, Googley, John Markoff, Jony Ive, Marc Andreessen, Mark Zuckerberg, Peter Thiel, pre–internet, Silicon Valley, Silicon Valley startup, Skype, software patent, spectrum auction, Steve Ballmer, Steve Jobs, Steve Wozniak, Steven Levy, Tim Cook: Apple, web application, zero-sum game

What really got Atavist attention from investors and then mainstream media, however, was the sophistication of its software. Rabb had designed it to work with all the e-book and e-mag formats in existence. So as Amazon and Apple tried to lock authors into their proprietary formats—Amazon with its Kindle e-books, Apple with iBooks—Atavist became an attractive intermediary. Eric Schmidt of Google and the venture capitalists Marc Andreessen, Peter Thiel, and Sean Parker were part of an outside-investor group in mid-2012. By the end of 2012 the media moguls Barry Diller and Scott Rudin had teamed up to create their own e-books start-up called Brightline. Atavist, with its software, was to be their exclusive online publisher. The iPad’s impacts weren’t just limited to media. It seemed to change … everything. Pilots stopped carrying bulky bags of navigation charts, runway data, and weather reports.

But at current growth rates, there will be more smartphones and tablets than TVs within three to five years. Smartphone sales are growing at better than 25 percent a year, and tablet sales are more than doubling every year. Meanwhile, the sales of TVs worldwide is actually declining. Some of that is because of the global recession. But some of that is because more and more new college graduates aren’t bothering to buy one. Investor Marc Andreessen says that smartphones and tablets have not just exponentially expanded the number of people in the world who can consume media, they have also exponentially increased the number of times and places throughout each day that those people can watch. “You’ve got your phone and you can watch TV or movies anytime you want. The same with tablets. With a TV you have to be at home—to be sitting still—to watch it.”


pages: 323 words: 90,868

The Wealth of Humans: Work, Power, and Status in the Twenty-First Century by Ryan Avent

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3D printing, Airbnb, American energy revolution, assortative mating, autonomous vehicles, Bakken shale, barriers to entry, basic income, Bernie Sanders, BRICs, call centre, Capital in the Twenty-First Century by Thomas Piketty, Clayton Christensen, cloud computing, collective bargaining, computer age, creative destruction, dark matter, David Ricardo: comparative advantage, deindustrialization, dematerialisation, Deng Xiaoping, deskilling, Dissolution of the Soviet Union, Donald Trump, Downton Abbey, Edward Glaeser, Erik Brynjolfsson, eurozone crisis, everywhere but in the productivity statistics, falling living standards, first square of the chessboard, first square of the chessboard / second half of the chessboard, Ford paid five dollars a day, Francis Fukuyama: the end of history, future of work, gig economy, global supply chain, global value chain, hydraulic fracturing, income inequality, indoor plumbing, industrial robot, intangible asset, interchangeable parts, Internet of things, inventory management, invisible hand, Jacquard loom, James Watt: steam engine, Jeff Bezos, John Maynard Keynes: Economic Possibilities for our Grandchildren, Joseph-Marie Jacquard, knowledge economy, low skilled workers, lump of labour, Lyft, manufacturing employment, Marc Andreessen, mass immigration, means of production, new economy, performance metric, pets.com, price mechanism, quantitative easing, Ray Kurzweil, rent-seeking, reshoring, rising living standards, Robert Gordon, Ronald Coase, savings glut, Second Machine Age, secular stagnation, self-driving car, sharing economy, Silicon Valley, single-payer health, software is eating the world, supply-chain management, supply-chain management software, TaskRabbit, The Future of Employment, The Nature of the Firm, The Spirit Level, The Wealth of Nations by Adam Smith, Thomas Malthus, trade liberalization, transaction costs, Tyler Cowen: Great Stagnation, Uber and Lyft, Uber for X, very high income, working-age population

Economist Thomas Piketty’s aforementioned masterpiece, Capital in the Twenty-First Century, set out a bold theory of inequality and predicted trouble ahead, as did Chris Hayes, whose book Twilight of the Elites21 was an incisive examination of the loss of faith in elite institutions and technocrats, who have struggled to manage recent economic change. Yet at the moment there is little agreement on how seriously to take automation concerns, how a transition to something like a jobless future might unfold and what ought to be done about it. Techno-optimists, such as venture capitalist Marc Andreessen,22 lampoon the worriers as luddites and point to rising employment around the world as proof that their fears are overblown, while many left-leaning thinkers continue to blame globalization and the erosion of worker bargaining power, rather than robots, for stagnant pay and rising inequality in rich countries. Some writers, like Brynjolfsson and McAfee, and also Tyler Cowen, whose 2013 book, Average is Over,23 speculates about America’s economic future, anticipate a future in which broad economic and social change occurs incrementally, and in which sensible policy reforms (to education, for example) can make a technologically induced decline in the need for labour easier for households to manage.

Brynjolfsson, Erik, and McAfee, Andrew, Race Against the Machine: How the Digital Revolution is Accelerating Innovation, Driving Productivity, and Irreversibly Transforming Employment and the Economy (Digital Frontier Press, 2011). 20. Ford, Martin, Rise of the Robots: Technology and the Threat of a Jobless Future (London: Oneworld Publications, 2015). 21. Hayes, Christopher, Twilight of the Elites: America After Meritocracy (New York, NY: Crown Publishing Group, 2012). 22. Marc Andreessen (1971–) helped write the code for Mosaic, an early and important web browser, and co-founded Netscape. He later co-founded Andreessen Horowitz, an important Silicon Valley venture capital firm. Many know him best, however, as one of Twitter’s top digital economy gurus. 23. Cowen, Tyler, Average is Over: Powering America Beyond the Age of the Great Stagnation (New York, NY: E. P. Dutton & Co Inc., 2013). 24. 


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Messy: The Power of Disorder to Transform Our Lives by Tim Harford

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affirmative action, Air France Flight 447, Airbnb, airport security, Albert Einstein, Amazon Mechanical Turk, Amazon Web Services, assortative mating, Atul Gawande, autonomous vehicles, banking crisis, Barry Marshall: ulcers, Basel III, Berlin Wall, British Empire, Broken windows theory, call centre, Cass Sunstein, Chris Urmson, cloud computing, collateralized debt obligation, crowdsourcing, deindustrialization, Donald Trump, Erdős number, experimental subject, Ferguson, Missouri, Filter Bubble, Frank Gehry, game design, global supply chain, Googley, Guggenheim Bilbao, high net worth, Inbox Zero, income inequality, industrial cluster, Internet of things, Jane Jacobs, Jeff Bezos, Loebner Prize, Louis Pasteur, Marc Andreessen, Mark Zuckerberg, Menlo Park, Merlin Mann, microbiome, out of africa, Paul Erdős, Richard Thaler, Rosa Parks, self-driving car, side project, Silicon Valley, Silicon Valley startup, Skype, Steve Jobs, Steven Levy, Stewart Brand, telemarketer, the built environment, The Death and Life of Great American Cities, Turing test, urban decay, William Langewiesche

Both of those speculations sound plausible, but they raise the question of why students weren’t able to follow their own daily plans. The answer is that daily plans can’t adjust to unexpected events. Things come up: you catch a cold; you need to stay home for a plumber; a friend calls to say he’s visiting town unexpectedly. With a broad plan, or no plan, it’s easy to accommodate these obstacles and opportunities. Some people manage to take this to extremes. Marc Andreessen is one of the first Internet wunderkinds: he cofounded Netscape in 1994, sold it for over $4 billion, and founded a Silicon Valley venture capital firm that invested in companies such as Skype, Twitter, and Airbnb. Besieged by invitations and meetings, Andreessen decided that he would simply stop writing anything in his calendar. If something was important, then it could be done immediately.

Malett, “Specificity of Planning in Adult Self-Control: An Applied Investigation,” Journal of Personality and Social Psychology 40, no. 5 (1981), pp. 941–950. For the one-year follow-up, see Daniel S. Kirschenbaum, Laura L. Humphrey, Sheldon D. Malett, and Andrew Tomarken, “Specificity of Planning and the Maintenance of Self-Control: 1 Year Follow-Up of a Study Improvement Program,” Behavior Therapy 13 (1982), pp. 232–240. 14. Marc Andreessen, “Pmarca Guide to Personal Productivity,” June 4, 2007, http://pmarchive.com/guide_to_personal_productivity.html. 15. Charlie LeDuff and John Broder, “Schwarzenegger, Confident and Ready for Prime Time,” The New York Times, June 24, 2004, http://www.nytimes.com/2004/06/24/us/schwarzenegger-confident-and-ready-for-prime-time.html?pagewanted=all; also see Eric Abrahamson and David Freedman, A Perfect Mess (London: Orion, 2007), pp. 75–77, for discussion. 16.


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Platform Revolution: How Networked Markets Are Transforming the Economy--And How to Make Them Work for You by Sangeet Paul Choudary, Marshall W. van Alstyne, Geoffrey G. Parker

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3D printing, Affordable Care Act / Obamacare, Airbnb, Alvin Roth, Amazon Mechanical Turk, Amazon Web Services, Andrei Shleifer, Apple's 1984 Super Bowl advert, autonomous vehicles, barriers to entry, big data - Walmart - Pop Tarts, bitcoin, blockchain, business process, buy low sell high, chief data officer, Chuck Templeton: OpenTable, clean water, cloud computing, connected car, corporate governance, crowdsourcing, data acquisition, data is the new oil, digital map, discounted cash flows, disintermediation, Edward Glaeser, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, financial innovation, Haber-Bosch Process, High speed trading, information asymmetry, Internet of things, inventory management, invisible hand, Jean Tirole, Jeff Bezos, jimmy wales, John Markoff, Khan Academy, Kickstarter, Lean Startup, Lyft, Marc Andreessen, market design, Metcalfe’s law, multi-sided market, Network effects, new economy, payday loans, peer-to-peer lending, Peter Thiel, pets.com, pre–internet, price mechanism, recommendation engine, RFID, Richard Stallman, ride hailing / ride sharing, Robert Metcalfe, Ronald Coase, Satoshi Nakamoto, self-driving car, shareholder value, sharing economy, side project, Silicon Valley, Skype, smart contracts, smart grid, Snapchat, software is eating the world, Steve Jobs, TaskRabbit, The Chicago School, the payments system, Tim Cook: Apple, transaction costs, two-sided market, Uber and Lyft, Uber for X, winner-take-all economy, zero-sum game, Zipcar

If this vision for the next phase of Uber’s growth comes true, the landscape of America may well be rendered unrecognizable.4 And if all that is not enough, consider this observation by Kalanick: “If we can get you a car in five minutes, we can get you anything in five minutes.”5 Anything at all? One wonders what limits can be set on Uber’s disruptive potential. Kalanick seems not to acknowledge any. A CAPSULE HISTORY OF DIGITAL DISRUPTION “Software is eating the world.” The slogan was originally used by Netscape founder Marc Andreessen in the title of a 2011 op-ed article in the Wall Street Journal to encapsulate how technology—particularly the Internet—has transformed the world of business.6 The story of Internet-enabled disruption as we’ve witnessed it so far has occurred in two main stages. In stage one, efficient pipelines ate inefficient pipelines. Most Internet applications during the 1990s involved the creation of highly efficient pipelines—online systems for distributing goods and services that outcompeted incumbent industries.

Kara Swisher, “Man and Uber Man,” Vanity Fair, December 2014; Jessica Kwong, “Head of SF Taxis to Retire,” San Francisco Examiner, May 30, 2014; Alison Griswold, “The Million-Dollar New York City Taxi Medallion May Be a Thing of the Past,” Slate, December 1, 2014, http://www.slate.com/blogs/moneybox/2014/12/01/new_york_taxi_medallions_did_tlc_transaction_data_inflate_the_price_of_driving.html. 3. Swisher, “Man and Uber Man.” 4. Zack Kanter, “How Uber’s Autonomous Cars Will Destroy 10 Million Jobs and Reshape the Economy by 2025,” CBS SF Bay Area, sanfrancisco.cbslocal.com/2015/01/27/how-ubers-autonomous-cars-will-destroy-10-million-jobs-and-reshape-the-economy-by-2025-lyft-google-zack-kanter/. 5. Swisher, “Man and Uber Man.” 6. Marc Andreessen, “Why Software Is Eating the World,” Wall Street Journal, August 20, 2011, http://www.wsj.com/articles/SB10001424053111903480904576512250915629460. 7. Phil Simon, The Age of the Platform: How Amazon, Apple, Facebook, and Google Have Redefined Business (Henderson, NV: Motion Publishing, 2011). 8. Feng Zhu and Marco Iansiti, “Entry into Platform-Based Markets,” Strategic Management Journal 33, no. 1 (2012): 88–106. 9.


pages: 319 words: 90,965

The End of College: Creating the Future of Learning and the University of Everywhere by Kevin Carey

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Albert Einstein, barriers to entry, Bayesian statistics, Berlin Wall, business intelligence, carbon-based life, Claude Shannon: information theory, complexity theory, David Heinemeier Hansson, declining real wages, deliberate practice, discrete time, double helix, Douglas Engelbart, Douglas Engelbart, Downton Abbey, Drosophila, Firefox, Frank Gehry, Google X / Alphabet X, informal economy, invention of the printing press, inventory management, John Markoff, Khan Academy, Kickstarter, low skilled workers, Lyft, Marc Andreessen, Mark Zuckerberg, meta analysis, meta-analysis, natural language processing, Network effects, open borders, pattern recognition, Peter Thiel, pez dispenser, ride hailing / ride sharing, Ronald Reagan, Ruby on Rails, Sand Hill Road, self-driving car, Silicon Valley, Silicon Valley startup, social web, South of Market, San Francisco, speech recognition, Steve Jobs, technoutopianism, transcontinental railway, Vannevar Bush

Venture capitalists looking for the next Apple began setting up shop on a winding stretch of asphalt a few miles from Stanford University called Sand Hill Road. Meanwhile, ARPANET continued to expand. By 1995 it had been replaced by the Internet, which was no longer restricted to academic and military uses. That was the year that a recent graduate of the University of Illinois at Urbana-Champaign named Marc Andreessen founded the Web browser company Netscape, based on the Mosaic software program he had helped develop. Netscape’s IPO created a $2.9 billion company and launched the dot-com boom that would consume financial imaginations for the next six years. The Internet big bang lit fuses on bombs sitting beneath the economic foundations of scores of long-established information-centered industries. The only uncertainty was how long they would take to explode.

It was “open-source” software, which means that the underlying code was available for anyone to download, copy, and improve. The open-source ethos is both moral and practical. In a world that is increasingly run by highly sophisticated computer programs, no single person working alone can build sufficiently great software from scratch. Computer programmers work in virtual communities where chunks of code are shared, modified, and re-shared for anyone to use. That’s why Marc Andreessen’s venture capital firm has invested $100 million in a company called GitHub, whose website allows computer programmers to store, share, and collaborate on open-source code. Programmers can see what other people are working on, create new and improved versions, and share their work with the larger community. By 2014, GitHub had four million registered users worldwide collaborating on ten million repositories of code.


pages: 102 words: 29,596

The Alliance: Managing Talent in the Networked Age by Reid Hoffman, Ben Casnocha, Chris Yeh

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Airbnb, Amazon Web Services, centralized clearinghouse, cloud computing, Jeff Bezos, Jony Ive, Marc Andreessen, new economy, pre–internet, Silicon Valley, Silicon Valley startup, software as a service, Steve Jobs

For example, when employees return from a conference, they’re asked to host a brown-bag lunch (“Lunch in Learn”) to share with their colleagues what they learned. If an in-person get-together isn’t an option or isn’t scalable enough, employees can log in to LearnIn, the internal learning portal at the company, and publish their insights on the intranet for all other employees to see. Reid still participates in the process by bringing key industry leaders like Marc Andreessen and Arianna Huffington onto the corporate campus to share their insights with the company. HAVING THE CONVERSATION Advice for Managers Network intelligence needs to be an integral part of the alliance and the tour of duty conversation. When you define an employee’s tour of duty, you should set explicit expectations about how both parties will invest in and benefit from network intelligence.


pages: 538 words: 147,612

All the Money in the World by Peter W. Bernstein

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Albert Einstein, anti-communist, Berlin Wall, Bill Gates: Altair 8800, call centre, corporate governance, corporate raider, creative destruction, currency peg, David Brooks, Donald Trump, estate planning, family office, financial innovation, George Gilder, high net worth, invisible hand, Irwin Jacobs: Qualcomm, Jeff Bezos, job automation, job-hopping, John Markoff, Long Term Capital Management, Marc Andreessen, Martin Wolf, Maui Hawaii, means of production, mega-rich, Menlo Park, Mikhail Gorbachev, new economy, Norman Mailer, PageRank, Peter Singer: altruism, pez dispenser, popular electronics, Renaissance Technologies, Rod Stewart played at Stephen Schwarzman birthday party, Ronald Reagan, Sand Hill Road, school vouchers, Search for Extraterrestrial Intelligence, shareholder value, Silicon Valley, Silicon Valley startup, stem cell, Stephen Hawking, Steve Ballmer, Steve Jobs, Steve Wozniak, the new new thing, Thorstein Veblen, too big to fail, traveling salesman, urban planning, wealth creators, William Shockley: the traitorous eight, women in the workforce

At the time, most computer and software companies were focused on closed-terminal systems, in which only a specified network of computers could communicate with one another. Clark’s vision of the future would probably have been dismissed as just another far-fetched idea had he not already had his Silicon Graphics success. Clark’s quest led him to a software program called Mosaic, written by a twenty-two-year-old student at the University of Illinois, Marc Andreessen. In the early 1990s Clark and Andreessen developed the Web-browsing software that became Netscape and begat the Internet craze. Once again, Clark had come up with another blockbuster. “Bill Gates sent a memo45 to his employees saying that the Internet now posed the greatest threat to Microsoft’s control of the computer industry,” writes Michael Lewis in The New New Thing: A Silicon Valley Story, an entertaining account of the life and times of Jim Clark.

*2 The next year, Washington bought the Burlington Northern Railroad’s southern Montana rail system for $160 million—quite a risk if he hadn’t locked in a guarantee from Burlington that they would run a large amount of traffic over his newly named Montana Rail Link lines. As Texas legend H. L. Hunt once aptly said, “I’ve never taken a risk so big that if it went against me I couldn’t keep right on going.” Return to text. *3 Bronfman, together with Bruce Roberts, wrote “Whisper in the Dark,” which was recorded by Dionne Warwick in 1986. Return to text. *4 Clark funded computer genius Marc Andreessen, who had invented a way of accessing words and images on a computer network—the first Web browser. Initially a great success, with 80 percent of market share, Netscape soon ran afoul of Microsoft, which launched its own free Web browser, Internet Explorer, as part of its Windows 95 Plus! Pack. Over the next few years, the two fought for market dominance with a succession of new browser releases.


pages: 494 words: 142,285

The Future of Ideas: The Fate of the Commons in a Connected World by Lawrence Lessig

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AltaVista, Andy Kessler, barriers to entry, business process, Cass Sunstein, commoditize, computer age, creative destruction, dark matter, disintermediation, Donald Davies, Erik Brynjolfsson, George Gilder, Hacker Ethic, Hedy Lamarr / George Antheil, Howard Rheingold, Hush-A-Phone, HyperCard, hypertext link, Innovator's Dilemma, invention of hypertext, inventory management, invisible hand, Jean Tirole, Jeff Bezos, Joseph Schumpeter, Kenneth Arrow, Larry Wall, Leonard Kleinrock, linked data, Marc Andreessen, Menlo Park, Network effects, new economy, packet switching, peer-to-peer, peer-to-peer model, price mechanism, profit maximization, RAND corporation, rent control, rent-seeking, RFC: Request For Comment, Richard Stallman, Richard Thaler, Robert Bork, Ronald Coase, Search for Extraterrestrial Intelligence, SETI@home, Silicon Valley, smart grid, software patent, spectrum auction, Steve Crocker, Steven Levy, Stewart Brand, Ted Nelson, Telecommunications Act of 1996, The Chicago School, transaction costs, zero-sum game

As activist and technologist John Gilmore has put it, in a line that captures the puzzle of this book: “[W]e have invented the technology to eliminate scarcity, but we are deliberately throwing it away to benefit those who profit from scarcity. . . . I think,” Gilmore continues, “we should embrace the era of plenty, and work out how to mutually live in it.”5 LATE IN THE afternoon of one of California's inevitably beautiful days, Marc Andreessen was driving along one of California's inevitably overcrowded highways. More fitting the traffic than the weather, Andreessen's mood was dark. He was a twenty-nine-year-old computer science graduate who had become one of the most successful entrepreneurs of his generation. Coauthor of an early browser for the World Wide Web (Mosaic), founder of the first company to make the World Wide Web go (Netscape), Andreessen was nonetheless down on the future.

., 2001). 3 Testimony of Professor Peter Jaszi, The Copyright Term Extension Act of 1995: Hearings on S.483 Before the Senate Judiciary Committee, 104th Cong. (1995), available at 1995 WL 10524355, *6. 4 Oral arguments, United States v. Microsoft, February 26, 2001, available at http:// www.microsoft.com/presspass/trial/transcripts/feb01/02-26.asp. 5 E-mail from John Gilmore, January 19, 2001, to EFF list, on file with author, 6. 6 Telephone interview with Marc Andreessen, December 15, 2000. 7 As Timothy Wu commented to me, “[T]he real successes on the Internet have not been killer apps, but killer platforms. “ E-mail from Tim Wu, June 28, 2001. Not, in other words, amazing but proprietary applications that do extraordinary things, but amazing and open platforms upon which others have been free to build. E-mail and the Web are examples, Wu suggests, of killer platforms.


pages: 528 words: 146,459

Computer: A History of the Information Machine by Martin Campbell-Kelly, William Aspray, Nathan L. Ensmenger, Jeffrey R. Yost

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Ada Lovelace, air freight, Alan Turing: On Computable Numbers, with an Application to the Entscheidungsproblem, Apple's 1984 Super Bowl advert, barriers to entry, Bill Gates: Altair 8800, borderless world, Buckminster Fuller, Build a better mousetrap, Byte Shop, card file, cashless society, cloud computing, combinatorial explosion, computer age, deskilling, don't be evil, Donald Davies, Douglas Engelbart, Douglas Engelbart, Dynabook, fault tolerance, Fellow of the Royal Society, financial independence, Frederick Winslow Taylor, game design, garden city movement, Grace Hopper, informal economy, interchangeable parts, invention of the wheel, Jacquard loom, Jacquard loom, Jeff Bezos, jimmy wales, John Markoff, John von Neumann, light touch regulation, linked data, Marc Andreessen, Mark Zuckerberg, Marshall McLuhan, Menlo Park, natural language processing, Network effects, New Journalism, Norbert Wiener, Occupy movement, optical character recognition, packet switching, PageRank, pattern recognition, Pierre-Simon Laplace, pirate software, popular electronics, prediction markets, pre–internet, QWERTY keyboard, RAND corporation, Robert X Cringely, Silicon Valley, Silicon Valley startup, Steve Jobs, Steven Levy, Stewart Brand, Ted Nelson, the market place, Turing machine, Vannevar Bush, Von Neumann architecture, Whole Earth Catalog, William Shockley: the traitorous eight, women in the workforce, young professional

The first web browsers mostly came from universities; they were hastily written by students, and it showed. The programs were difficult to install, buggy, and had an unfinished feel. The Mosaic browser from the National Center for Supercomputer Applications (NCSA) at the University of Illinois at Urbana-Champaign was the exception. Developed by a twenty-two-year-old computer science undergraduate, Marc Andreessen, Mosaic was almost like shrink-wrapped software you could buy in a store. There was a version for the PC, another for the Macintosh, and another for the Unix workstations beloved by computer science departments. Mosaic was made available in November 1993, and immediately thousands—soon hundreds of thousands—of copies were downloaded. Mosaic made it easy for owners of personal computers to get started surfing the web.

Thereafter, MSN was not much more than an up-market Internet service provider—it was no threat to AOL. Whereas in the 1980s the operating system had been the most keenly fought-for territory in personal computing, in the 1990s it was the web browser. In 1995 Netscape had seemed unstoppable. In the summer—when the firm was just eighteen months old—its initial public offering netted $2.2 billion, making Marc Andreessen extraordinarily wealthy. By year’s end its browser had been downloaded 15 million times, and it enjoyed over 70 percent of the market. But Microsoft did not intend to concede the browser market to Netscape. During the next two years Microsoft and Netscape battled for browser supremacy, each producing browser upgrades every few months. By January 1998, with a reported investment of $100 million a year, version 4.0 of Microsoft’s Internet Explorer achieved technical parity with Netscape.


pages: 183 words: 49,460

Start Small, Stay Small: A Developer's Guide to Launching a Startup by Rob Walling

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8-hour work day, en.wikipedia.org, inventory management, Lean Startup, Marc Andreessen, Network effects, Paul Graham, rolodex, side project, Silicon Valley, software as a service, SpamAssassin, Superbowl ad, web application

Serial vs. Parallel Micropreneurship The terms serial and parallel can be a bit confusing so let’s examine them briefly. Serial implies “one after another” Parallel implies “at the same time” You may have heard the term serial entrepreneur floating around the business press. This is typically used to describe someone who starts a startup, grows it, sells it, and moves on to the next one. Marc Andreessen was a co-founder of Netscape, followed by Opsware, Ning, and now a venture capital fund. He is a good example of this, as are Jeff Hawkins and Donna Dubinsky, founders of Palm, Handspring and now Numenta. But the challenge as a startup entrepreneur is that you can’t start two companies at once. Starting a company requires enormous amounts of effort and time, and can’t be done in parallel. There’s no other way but to start one, sell it or close it down, then move on to the next.


pages: 216 words: 61,061

Without Their Permission: How the 21st Century Will Be Made, Not Managed by Alexis Ohanian

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Airbnb, barriers to entry, carbon-based life, cloud computing, crowdsourcing, en.wikipedia.org, Hans Rosling, hiring and firing, Internet Archive, Justin.tv, Kickstarter, Marc Andreessen, Mark Zuckerberg, means of production, Menlo Park, minimum viable product, Occupy movement, Paul Graham, Silicon Valley, Skype, slashdot, social web, software is eating the world, Startup school, Tony Hsieh, unpaid internship, Y Combinator

It’s the eponymous mascot for my social enterprise, Breadpig, which we’ll get to in chapter 7 (no peeking!). You’ll notice he’s black and white, which makes this book a guide for navigating the Internet age successfully as well as a coloring book! What a deal! The Real Introduction to My Book The World Isn’t Flat; the World Wide Web Is In an August 20, 2011, op-ed piece for The Wall Street Journal, world-renowned venture capitalist and tech entrepreneur Marc Andreessen declared that “software is eating the world.”1 I couldn’t have said it better myself. Andreessen sets the stage: “With lower startup costs and a vastly expanded market for online services, the result is a global economy that for the first time will be fully digitally wired—the dream of every cyber-visionary of the early 1990s, finally delivered, a full generation later.” Software developers worldwide are transforming every single industry on the planet thanks to the open Internet, which makes unprecedented “permissionless innovation”2 possible even for a couple of twenty-one-year-olds like me and my reddit.com co-founder, Steve Huffman.


pages: 200 words: 47,378

The Internet of Money by Andreas M. Antonopoulos

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AltaVista, altcoin, bitcoin, blockchain, clean water, cognitive dissonance, cryptocurrency, ethereum blockchain, financial exclusion, global reserve currency, litecoin, London Interbank Offered Rate, Marc Andreessen, Oculus Rift, packet switching, peer-to-peer lending, Ponzi scheme, QR code, ransomware, reserve currency, Satoshi Nakamoto, self-driving car, Skype, smart contracts, the medium is the message, trade route, underbanked, WikiLeaks, zero-sum game

The Internet of Money * * * Praise for "The Internet of Money" I’ve always wondered what would have happened if we had built one-click payments into the browser from the very beginning. With bitcoin, we finally get this Internet of Money. But this book isn’t just an ode to bitcoin — it’s an ode to open protocols, what happens when you connect people online, and the power of innovation on the internet. — Marc Andreessen, co-founder Netscape and Andreessen Horowitz With Mastering Bitcoin, Andreas M. Antonopoulos wrote one of the best technical books on digital currency. With The Internet of Money, he’s matched that feat by compiling his talks into one of the best books on Bitcoin for a broad audience. Highly recommended! — Balaji Srinavasan, CEO 21.co Over the past three years, awareness of the sweeping, transformative potential of bitcoin and its underlying blockchain technology has grown exponentially.


pages: 243 words: 61,237

To Sell Is Human: The Surprising Truth About Moving Others by Daniel H. Pink

always be closing, Atul Gawande, barriers to entry, call centre, Cass Sunstein, Checklist Manifesto, choice architecture, complexity theory, Credit Default Swap, Daniel Kahneman / Amos Tversky, disintermediation, future of work, George Akerlof, information asymmetry, Jeff Bezos, Kickstarter, Marc Andreessen, Menlo Park, out of africa, Richard Thaler, rolodex, Ronald Reagan, Steve Jobs, The Market for Lemons, Upton Sinclair, Wall-E, zero-sum game

Since Kickstarter launched in 2009, 1.8 million people have funded twenty thousand projects with more than $200 million. In just three years, Kickstarter surpassed the U.S. National Endowment for the Arts as the largest backer of arts projects in the United States.9 While the Web has enabled more micro-entrepreneurs to flourish, its overall impact might soon seem quaint compared with the smartphone. As Marc Andreessen, the venture capitalist who in the early 1990s created the first Web browser, has said, “The smartphone revolution is underhyped.”10 These handheld minicomputers certainly can destroy certain aspects of sales. Consumers can use them to conduct research, comparison-shop, and bypass salespeople altogether. But once again, the net effect is more creative than destructive. The same technology that renders certain types of salespeople obsolete has turned even more people into potential sellers.


pages: 223 words: 58,732

The Retreat of Western Liberalism by Edward Luce

3D printing, affirmative action, Airbnb, basic income, Berlin Wall, Bernie Sanders, Branko Milanovic, Bretton Woods, call centre, carried interest, centre right, cognitive dissonance, colonial exploitation, colonial rule, computer age, corporate raider, cuban missile crisis, currency manipulation / currency intervention, Dissolution of the Soviet Union, Doha Development Round, Donald Trump, double entry bookkeeping, Erik Brynjolfsson, European colonialism, everywhere but in the productivity statistics, Fall of the Berlin Wall, Francis Fukuyama: the end of history, future of work, George Santayana, gig economy, Gini coefficient, global supply chain, illegal immigration, imperial preference, income inequality, informal economy, Internet of things, Jaron Lanier, knowledge economy, liberal capitalism, Marc Andreessen, Mark Zuckerberg, Martin Wolf, mass immigration, means of production, Monroe Doctrine, moral panic, more computing power than Apollo, mutually assured destruction, new economy, New Urbanism, Norman Mailer, offshore financial centre, one-China policy, Peace of Westphalia, Peter Thiel, Plutocrats, plutocrats, precariat, purchasing power parity, reserve currency, Richard Florida, Robert Gordon, Ronald Reagan, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Skype, Snapchat, software is eating the world, South China Sea, Steve Jobs, superstar cities, TaskRabbit, telepresence, The Wealth of Nations by Adam Smith, Thomas L Friedman, Tyler Cowen: Great Stagnation, universal basic income, unpaid internship, Washington Consensus, We are the 99%, We wanted flying cars, instead we got 140 characters, white flight, World Values Survey, Yogi Berra

In the short term it is not artificial intelligence the West should worry about. It is what Baldwin calls remote intelligence. In some respects it has already arrived. Over the last twenty years, India and the Philippines reaped the rewards of the telecoms revolution to create lower-skilled service sector jobs at call centres, and on technology helpdesks. Those jobs are now under threat. As the venture capitalist Marc Andreessen says, ‘Software is eating the world’. How many times have you talked to a computer recently, rather than someone with an Indian accent? A lot more than a few years ago, I would guess. Automated voice software is supplanting humans. India is thus being forced to upgrade. Its next generation of offshore jobs will be devoted to far more complex tasks, such as providing medical diagnoses, writing legal briefs, remotely supervising factories and plants, and doing consumer data analysis.


pages: 371 words: 78,103

Webbots, Spiders, and Screen Scrapers by Michael Schrenk

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Amazon Web Services, corporate governance, fault tolerance, Firefox, Marc Andreessen, new economy, pre–internet, SpamAssassin, Turing test, web application

Finally, a tip of the hat goes to Mark, Randy, Megan, Karen, Terri, Susan, Dennis, Dan, and Matt, who were thoughtful enough to ask about my book's progress before inquiring about the status of their projects. Introduction My introduction to the World Wide Web was also the beginning of my relationship with the browser. The first browser I used was Mosaic, pioneered by Eric Bina and Marc Andreessen. Andreessen later co-founded Netscape. Shortly after I discovered the World Wide Web, I began to associate the wonders of the Internet with the simplicity of the browser. By just clicking a hyperlink, I could enjoy the art treasures of the Louvre; if I followed another link, I could peruse a fan site for The Brady Bunch.[1] The browser was more than a software application that facilitated use of the World Wide Web: It was the World Wide Web.


pages: 218 words: 63,471

How We Got Here: A Slightly Irreverent History of Technology and Markets by Andy Kessler

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Albert Einstein, Andy Kessler, automated trading system, bank run, Big bang: deregulation of the City of London, Bob Noyce, Bretton Woods, British Empire, buttonwood tree, Claude Shannon: information theory, Corn Laws, Douglas Engelbart, Edward Lloyd's coffeehouse, fiat currency, fixed income, floating exchange rates, Fractional reserve banking, full employment, Grace Hopper, invention of the steam engine, invention of the telephone, invisible hand, Isaac Newton, Jacquard loom, Jacquard loom, James Hargreaves, James Watt: steam engine, John von Neumann, joint-stock company, joint-stock limited liability company, Joseph-Marie Jacquard, Leonard Kleinrock, Marc Andreessen, Maui Hawaii, Menlo Park, Metcalfe's law, Metcalfe’s law, packet switching, price mechanism, probability theory / Blaise Pascal / Pierre de Fermat, profit motive, railway mania, RAND corporation, Robert Metcalfe, Silicon Valley, Small Order Execution System, South Sea Bubble, spice trade, spinning jenny, Steve Jobs, supply-chain management, supply-chain management software, trade route, transatlantic slave trade, transatlantic slave trade, tulip mania, Turing machine, Turing test, William Shockley: the traitorous eight

Leveraging the hypertext Doug Engelbart demonstrated 23 years earlier, he wrote some code creating links across computer networks, and called it the World Wide Web. He didn’t patent it, didn’t start a company, and didn’t get royalties. But he did get knighted and so received the title the Knight Commander of the Order of the British Empire at the end of 2003. They notified him by telephone, not email. A few years after he set up this hypertext network, Marc Andreessen at the University of Illinois (Go ILLINI!) took advantage of the World Wide Web and the mainly cisco routers in the network and tried to optimize their ability to deliver a stream of packets to his computer. He created the Mosaic browser, which reassembled these packets into presentable text and graphics. He would later start Netscape with Jim Clark to turn browsers into a business, but meanwhile it transformed cisco.


pages: 271 words: 77,448

Humans Are Underrated: What High Achievers Know That Brilliant Machines Never Will by Geoff Colvin

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Ada Lovelace, autonomous vehicles, Baxter: Rethink Robotics, Black Swan, call centre, capital asset pricing model, commoditize, computer age, corporate governance, creative destruction, deskilling, en.wikipedia.org, Freestyle chess, future of work, Google Glasses, Grace Hopper, industrial cluster, industrial robot, interchangeable parts, job automation, knowledge worker, low skilled workers, Marc Andreessen, meta analysis, meta-analysis, Narrative Science, new economy, rising living standards, self-driving car, sentiment analysis, Silicon Valley, Skype, Steve Jobs, Steve Wozniak, Steven Levy, Steven Pinker, theory of mind, Tim Cook: Apple, transaction costs

Every suggestion from my editor, Emily Angell, improved the book. Fortune editors supported me in writing about this book’s themes in the printed and online magazine. Thank you Alan Murray, Andy Serwer, Stephanie Mehta, Cliff Leaf, Brian O’Keefe, and other colleagues who contributed ideas and data. Countless people helped me with ideas, information, access to sources, personal stories, and reactions to the text. I particularly want to thank Marc Andreessen, Tom Baptiste, Dominic Barton, Adrienne Boissy, Jim Bush, Ashton Carter, John Chambers, Ram Charan, Ralph Chatham, Tony D’Amelio, Sally Donnelly, Christopher Dowling, Bran Ferren, George Flynn, Michael Gazzaniga, Anne Greenhalgh, Peter Hancock, Rob High, Chester Kennedy, John Kelly, Rik Kirkland, Tom Kolditz, the Library of Congress staff, Joe Liemandt, Thomas Malone, Bill McDermott, James Merlino, David Metcalf, Steve Nakagawa, Nicholas Negroponte, Nitin Noria, Charles Phillips, Garth Saloner, Marc Scibelli, Danny Stern, and Noel Tichy.


pages: 260 words: 76,223

Ctrl Alt Delete: Reboot Your Business. Reboot Your Life. Your Future Depends on It. by Mitch Joel

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3D printing, Amazon Web Services, augmented reality, call centre, clockwatching, cloud computing, Firefox, future of work, ghettoisation, Google Chrome, Google Glasses, Google Hangouts, Khan Academy, Kickstarter, Kodak vs Instagram, Lean Startup, Marc Andreessen, Mark Zuckerberg, Network effects, new economy, Occupy movement, place-making, prediction markets, pre–internet, QR code, recommendation engine, Richard Florida, risk tolerance, self-driving car, Silicon Valley, Silicon Valley startup, Skype, social graph, social web, Steve Jobs, Steve Wozniak, Thomas L Friedman, Tim Cook: Apple, Tony Hsieh, white picket fence, WikiLeaks, zero-sum game

So in a very naive move, in order to fill the void left by the now-defunct teen magazine, I started hatching a plan to publish my own music magazines. Within a few years, a business partner and I had two such magazines and supported a friend in launching a third. Around this time, the Internet was just coming online. I had already been active with bulletin board services and modem connectivity, but when I saw my first Web browser (Marc Andreessen’s Mosaic) my whole world changed. I realized that the days of me walking over to the corner newsstand and hoping the new issue of Circus magazine was on sale were over. Suddenly this thing called “the Internet” could send me information—almost instantly. I immediately started publishing our magazines online. At the time, this was nothing more than the text from the articles and a little logo in the top left corner of the screen.


pages: 270 words: 64,235

Effective Programming: More Than Writing Code by Jeff Atwood

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AltaVista, Amazon Web Services, barriers to entry, cloud computing, endowment effect, Firefox, future of work, game design, Google Chrome, gravity well, job satisfaction, Khan Academy, Kickstarter, loss aversion, Marc Andreessen, Mark Zuckerberg, Merlin Mann, Minecraft, Paul Buchheit, Paul Graham, price anchoring, race to the bottom, recommendation engine, science of happiness, Skype, social software, Steve Jobs, web application, Y Combinator, zero-sum game

With the release of the Netscape source code on March 31st, 1998, the unlikely birth of the commercial open source movement. Eventually producing the first credible threat to Internet Explorer in the form of Mozilla Firefox 1.0 in 2004. Do you want money? Fame? Job security? Or do you want to change the world … eventually? Consider how many legendary hackers went on to brilliant careers from Netscape: Jamie Zawinski, Brendan Eich, Stuart Parmenter, Marc Andreessen. The lessons of Netscape live on, even though the company doesn’t. Code Rush is ultimately a meditation on the meaning of work as a programmer. As Startup.com and Code Rush illustrate, the hard part is figuring out why you are working all those long hours. Consider carefully, lest the arc of your career mirror that of so many failed tech bubble companies: lived fast, died young, left a tired corpse.


pages: 284 words: 79,265

The Half-Life of Facts: Why Everything We Know Has an Expiration Date by Samuel Arbesman

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Albert Einstein, Alfred Russel Wallace, Amazon Mechanical Turk, Andrew Wiles, bioinformatics, British Empire, Cesare Marchetti: Marchetti’s constant, Chelsea Manning, Clayton Christensen, cognitive bias, cognitive dissonance, conceptual framework, David Brooks, demographic transition, double entry bookkeeping, double helix, Galaxy Zoo, guest worker program, Gödel, Escher, Bach, Ignaz Semmelweis: hand washing, index fund, invention of movable type, Isaac Newton, John Harrison: Longitude, Kevin Kelly, life extension, Marc Andreessen, meta analysis, meta-analysis, Milgram experiment, Nicholas Carr, p-value, Paul Erdős, Pluto: dwarf planet, publication bias, randomized controlled trial, Richard Feynman, Richard Feynman, Rodney Brooks, social graph, social web, text mining, the scientific method, Thomas Kuhn: the structure of scientific revolutions, Thomas Malthus, Tyler Cowen: Great Stagnation

Populations grow according to certain rules, medical knowledge accumulates in a regular fashion, and new technologies allow us to do things at faster and faster rates—but all in a way that is well understood and regular. However, there are other facts that don’t seem to adhere to this sort of logic. Knowing DNA’s structure, or whether Pluto was a planet, or that airplanes were possible—all of these happened in extremely rapid shifts. The iPhone appeared so rapidly in the world of technology that executives from a rival company thought many of its claimed specifications were lies, and Marc Andreessen has argued that it’s as if it appeared from the future, incredibly ahead of its time. One day there was a certain understanding of how we thought the world works, and the next day humanity’s factual environment had undergone a fundamental change. But can these actually be explained? Astonishingly enough, there is in fact an order to these rapid shifts in our knowledge. We can find regularities in them, and sometimes even predict them before they happen.


pages: 302 words: 73,581

Platform Scale: How an Emerging Business Model Helps Startups Build Large Empires With Minimum Investment by Sangeet Paul Choudary

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3D printing, Airbnb, Amazon Web Services, barriers to entry, bitcoin, blockchain, business process, Chuck Templeton: OpenTable, Clayton Christensen, collaborative economy, commoditize, crowdsourcing, cryptocurrency, data acquisition, frictionless, game design, hive mind, Internet of things, invisible hand, Kickstarter, Lean Startup, Lyft, M-Pesa, Marc Andreessen, Mark Zuckerberg, means of production, multi-sided market, Network effects, new economy, Paul Graham, recommendation engine, ride hailing / ride sharing, shareholder value, sharing economy, Silicon Valley, Skype, Snapchat, social graph, social software, software as a service, software is eating the world, Spread Networks laid a new fibre optics cable between New York and Chicago, TaskRabbit, the payments system, too big to fail, transport as a service, two-sided market, Uber and Lyft, Uber for X, Wave and Pay

Lyft And Interaction Failure 3.9 Interaction Ownership And The TaskRabbit Problem 4.0 SOLVING CHICKEN-AND-EGG PROBLEMS Introduction 4.1 A Design Pattern For Sparking Interactions 4.2 Activating The Standalone Mode 4.3 How Paypal And Reddit Faked Their Way To Traction 4.4 Every Producer Organizes Their Own Party 4.5 Bringing In The Ladies 4.6 The Curious Case Of New Payment Mechanisms 4.7 Drink Your Own Kool Aid 4.8 Beg, Borrow, Steal And The World Of Supply Proxies 4.9 Disrupting Craigslist 4.10 Starting With Micromarkets 4.11 From Twitter To Tinder 5.0 VIRALITY: SCALE IN A NETWORKED WORLD Introduction 5.1 Transitioning To Platform Scale 5.2 Instagram’s Moonshot Moment 5.3 Going Viral 5.4 Architecting Diseases 5.5 A Design-First Approach To Viral Growth 5.6 Building Viral Engines 5.7 The Viral Canvas 6.0 REVERSE NETWORK EFFECTS Introduction 6.1 A Scaling Framework For Platforms 6.2 Reverse Network Effects 6.3 Manifestations Of Reverse Network Effects 6.4 Designing The Anti-Viral, Anti-Social Network Epilogue Platform Scale (n): Business scale powered by the ability to leverage and orchestrate a global connected ecosystem of producers and consumers toward efficient value creation and exchange. PREFACE Eating The World In the late summer of 2011, Marc Andreessen, co-founder of Netscape and the venture capital firm Andreessen-Horowitz, opined in a Wall Street Journal op-ed that “software is eating the world.” Andreessen was referring to firms like Amazon and Google that displace traditional industry leaders with new business models. Ever since, the phrase has become a rallying cry for every new startup hoping to build the next big thing. Software has been around for several decades now, but its ability to “eat” the world – to disrupt and reorganize traditional industries – has become most apparent over the last decade and a half.


pages: 265 words: 69,310

What's Yours Is Mine: Against the Sharing Economy by Tom Slee

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4chan, Airbnb, Amazon Mechanical Turk, asset-backed security, barriers to entry, Berlin Wall, big-box store, bitcoin, blockchain, citizen journalism, collaborative consumption, congestion charging, Credit Default Swap, crowdsourcing, data acquisition, David Brooks, don't be evil, gig economy, Hacker Ethic, income inequality, informal economy, invisible hand, Jacob Appelbaum, Jane Jacobs, Jeff Bezos, Khan Academy, Kibera, Kickstarter, license plate recognition, Lyft, Marc Andreessen, Mark Zuckerberg, move fast and break things, move fast and break things, natural language processing, Netflix Prize, Network effects, new economy, Occupy movement, openstreetmap, Paul Graham, peer-to-peer, peer-to-peer lending, Peter Thiel, pre–internet, principal–agent problem, profit motive, race to the bottom, Ray Kurzweil, recommendation engine, rent control, ride hailing / ride sharing, sharing economy, Silicon Valley, Snapchat, software is eating the world, South of Market, San Francisco, TaskRabbit, The Nature of the Firm, Thomas L Friedman, transportation-network company, Uber and Lyft, Uber for X, ultimatum game, urban planning, WikiLeaks, winner-take-all economy, Y Combinator, Zipcar

The invention of the Internet marks a break with the past, and an opportunity to open many old political and social debates. Companies see themselves as enlightened participants in these debates, with a social mandate as well as a business mandate; Google’s “Don’t be evil” mantra encapsulates their belief that the company has a moral mission as well as a technological one. Internet culture is also supremely ambitious and self-confident. It’s a confidence captured in venture capitalist Marc Andreessen’s saying that “software is eating the world.” In its outer reaches it is an ambition manifested in ideas of Seasteading (a movement to build self-governing floating cities, started by PayPal founder Peter Thiel) and the Singularity (a belief in “the dawning of a new civilization that will enable us to transcend our biological limitations and amplify our creativity,” originating with the ideas of inventor and now Google employee Ray Kurzweil).

Free as in Freedom by Sam Williams

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Asperger Syndrome, cognitive dissonance, commoditize, Debian, Douglas Engelbart, East Village, Guido van Rossum, Hacker Ethic, informal economy, Isaac Newton, John Conway, John Markoff, Larry Wall, Marc Andreessen, Maui Hawaii, Murray Gell-Mann, profit motive, Richard Feynman, Richard Stallman, Silicon Valley, slashdot, software patent, Steven Levy, Ted Nelson, urban renewal, VA Linux, Y2K

Determined not to squander the opportunity, Raymond traveled west to deliver interviews, advise Netscape executives, and take part in the eventual party celebrating the publication of Netscape Navigator's source code. The code name for Navigator's source code was "Mozilla": a reference both to the program's gargantuan size-30 million lines of codeand to its heritage. Developed as a proprietary offshoot of Mosaic, the web browser created by Marc Andreessen at the University of Illinois, Mozilla was proof, yet again, that when it came to building new programs, most programmers preferred to borrow on older, modifiable programs. While in California, Raymond also managed to squeeze in a visit to VA Research, a Santa Clara-based company selling workstations with the GNU/Linux operating system preinstalled. Convened by Raymond, the meeting was small.


pages: 253 words: 65,834

Mastering the VC Game: A Venture Capital Insider Reveals How to Get From Start-Up to IPO on Your Terms by Jeffrey Bussgang

business process, carried interest, digital map, discounted cash flows, hiring and firing, Jeff Bezos, Marc Andreessen, Mark Zuckerberg, Menlo Park, moveable type in China, pattern recognition, Paul Graham, performance metric, Peter Thiel, pets.com, risk tolerance, rolodex, Ronald Reagan, Sand Hill Road, selection bias, shareholder value, Silicon Valley, Skype, software as a service, sovereign wealth fund, Steve Jobs, technology bubble, The Wisdom of Crowds

The final important question in working through the deal with the VC is how much money the entrepreneur should raise. Once they’ve secured VC interest, there can be a fair amount of flexibility on this point. But there are important trade-offs to consider. More money provides more runway and room for mistakes, but at the cost of some additional dilution. Twitter’s Jack Dorsey recalled a conversation he had with Netscape founder and angel investor Marc Andreessen. “Marc advised us very early on to take as much money as we could, because a recession was coming and everything was going to hit the fan. And this was in early 2008, maybe the end of 2007. And he’s like, ‘I know you’re worried about dilution, but just try to get as much money as you can, build a war chest so you can weather the storm, because the storm is coming.’ ” On the other hand, raising less money in a more capital-efficient fashion reduces your dilution while increasing your exit options.


pages: 287 words: 82,576

The Complacent Class: The Self-Defeating Quest for the American Dream by Tyler Cowen

affirmative action, Affordable Care Act / Obamacare, Airbnb, Alvin Roth, assortative mating, Bernie Sanders, Black Swan, business climate, circulation of elites, clean water, David Graeber, declining real wages, deindustrialization, desegregation, Donald Trump, drone strike, East Village, Elon Musk, Ferguson, Missouri, Francis Fukuyama: the end of history, gig economy, Google Glasses, Hyman Minsky, Hyperloop, income inequality, intangible asset, Internet of things, inventory management, knowledge worker, labor-force participation, labour mobility, low skilled workers, Marc Andreessen, Mark Zuckerberg, medical residency, meta analysis, meta-analysis, obamacare, offshore financial centre, Paul Samuelson, Peter Thiel, purchasing power parity, Richard Florida, security theater, sharing economy, Silicon Valley, Silicon Valley ideology, Skype, South China Sea, Steven Pinker, Stuxnet, The Great Moderation, total factor productivity, Tyler Cowen: Great Stagnation, upwardly mobile, Vilfredo Pareto, working-age population, World Values Survey

American government and civil society, acting in conjunction, actually brought about a lower crime rate, more safety for most of our kids, no more draft riots, and more job and residential stability, among the many other changes that took place. Of course, this portrait of a slowdown in dynamism is not usually what you hear from our business, political, and thought leaders. Bill Gates, for instance, has said that “the idea that innovation is slowing down is … stupid.” He claims that new ideas are coming at a “scarily fast pace.”1 Or on Twitter, until recently, Marc Andreessen (@pmarca), Netscape founder and successful venture capitalist, would tweet up a storm at least once a week about the benefits of modernity, the progress of the American economy, and most of all the wonders of tech and Silicon Valley. If the point is simply that today life is pretty good for many (but not all) of us, Gates and Andreessen are right. But still, by most metrics, as we’ll see, economic opportunity is down and living standards, although they have advanced, are growing more slowly than in the past.


pages: 552 words: 168,518

MacroWikinomics: Rebooting Business and the World by Don Tapscott, Anthony D. Williams

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accounting loophole / creative accounting, airport security, Andrew Keen, augmented reality, Ayatollah Khomeini, barriers to entry, bioinformatics, Bretton Woods, business climate, business process, car-free, carbon footprint, citizen journalism, Clayton Christensen, clean water, Climategate, Climatic Research Unit, cloud computing, collaborative editing, collapse of Lehman Brothers, collateralized debt obligation, colonial rule, commoditize, corporate governance, corporate social responsibility, creative destruction, crowdsourcing, death of newspapers, demographic transition, distributed generation, don't be evil, en.wikipedia.org, energy security, energy transition, Exxon Valdez, failed state, fault tolerance, financial innovation, Galaxy Zoo, game design, global village, Google Earth, Hans Rosling, hive mind, Home mortgage interest deduction, interchangeable parts, Internet of things, invention of movable type, Isaac Newton, James Watt: steam engine, Jaron Lanier, jimmy wales, Joseph Schumpeter, Julian Assange, Kevin Kelly, knowledge economy, knowledge worker, Marc Andreessen, Marshall McLuhan, mass immigration, medical bankruptcy, megacity, mortgage tax deduction, Netflix Prize, new economy, Nicholas Carr, oil shock, old-boy network, online collectivism, open borders, open economy, pattern recognition, peer-to-peer lending, personalized medicine, Ray Kurzweil, RFID, ride hailing / ride sharing, Ronald Reagan, Rubik’s Cube, scientific mainstream, shareholder value, Silicon Valley, Skype, smart grid, smart meter, social graph, social web, software patent, Steve Jobs, text mining, the scientific method, The Wisdom of Crowds, transaction costs, transfer pricing, University of East Anglia, urban sprawl, value at risk, WikiLeaks, X Prize, young professional, Zipcar

More companies receiving investment means more companies to supervise and more demands on the investor’s attention. After all, VCs usually add more than just money—they make introductions, assist with strategic sales, and help recruit top talent. One solution is to make lots of small investments but spend little time with each one, in the Silicon Valley equivalent of speed dating. This is the strategy of the eponymous fund recently launched by Marc Andreessen (from Netscape, eBay, Facebook, Twitter, and Ning) and Ben Horowitz (from Netscape, OpsWare, and AOL). They plan to invest more than $300 million over ten years, starting with seed investments beginning at $50,000 a pop.18 This speed-dating-for-capital approach results in some matchmaking, but the problem of postinvestment execution still remains: a VC only has so much time on his or her hands.

It should be noted, however, that other researchers are less optimistic on the link between innovation and venture capital. See: Masako Ueda and Masayuki Hirukawa, “Venture Capital and Innovation: Which Is First?”, Social Science Research Network (September 14, 2008). 16. “Breaking Through the Broken,” North Venture Partners (2009). 17. Claire Cain Miller, “Do Web Entrepreneurs Still Need Venture Capitalists?”, New York Times (May 14, 2009). 18. Rafe Needleman, “Marc Andreessen launched new venture fund,” cnet (July 5, 2009). 19. Paul Kedrosky, “Right-sizing the U.S. Venture Capital Industry,” Ewing Marion Kauffman Foundation (June 10, 2009). 20. See: http://www.youtube.com/watch?v=jGC1mCS4OVo&feature=player_embedded#!. 21. Julianne Pepitone, “YouTube credit card rant gets results,” CNN Money (September 20, 2009). 22. “Predicts 2010: Executive Decisions in Banking and Investment Services Demand a Longer View,” Gartner (November 12, 2009). 23.


pages: 843 words: 223,858

The Rise of the Network Society by Manuel Castells

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Apple II, Asian financial crisis, barriers to entry, Big bang: deregulation of the City of London, Bob Noyce, borderless world, British Empire, capital controls, complexity theory, computer age, computerized trading, creative destruction, Credit Default Swap, declining real wages, deindustrialization, delayed gratification, dematerialisation, deskilling, disintermediation, double helix, Douglas Engelbart, Douglas Engelbart, edge city, experimental subject, financial deregulation, financial independence, floating exchange rates, future of work, global village, Gunnar Myrdal, Hacker Ethic, hiring and firing, Howard Rheingold, illegal immigration, income inequality, Induced demand, industrial robot, informal economy, information retrieval, intermodal, invention of the steam engine, invention of the telephone, inventory management, James Watt: steam engine, job automation, job-hopping, John Markoff, knowledge economy, knowledge worker, labor-force participation, labour market flexibility, labour mobility, laissez-faire capitalism, Leonard Kleinrock, low skilled workers, manufacturing employment, Marc Andreessen, Marshall McLuhan, means of production, megacity, Menlo Park, moral panic, new economy, New Urbanism, offshore financial centre, oil shock, open economy, packet switching, Pearl River Delta, peer-to-peer, planetary scale, popular capitalism, popular electronics, post-industrial society, postindustrial economy, prediction markets, Productivity paradox, profit maximization, purchasing power parity, RAND corporation, Robert Gordon, Robert Metcalfe, Shoshana Zuboff, Silicon Valley, Silicon Valley startup, social software, South China Sea, South of Market, San Francisco, special economic zone, spinning jenny, statistical model, Steve Jobs, Steve Wozniak, Ted Nelson, the built environment, the medium is the message, the new new thing, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, total factor productivity, trade liberalization, transaction costs, urban renewal, urban sprawl, zero-sum game

One of these centers was the National Center for Supercomputer Applications (NCSA) at the University of Illinois, one of the oldest NSF supercomputer centers. Because of the decline of uses for these machines, NCSA’s researchers, as in most other supercomputer centers, were looking for new tasks. So were some staff members, including Marc Andreessen, a college student doing part-time work at the center for $6.85 an hour. “In late 1992, Marc, technically capable, and ‘bored off his ass,’ decided it was fun to take a crack at giving the Web the graphical, media rich face that it lacked.”53 The result was a web browser called Mosaic, designed to run on personal computers. Marc Andreessen and his collaborator Eric Bina posted Mosaic free on the NCSA web in November 1993, and in the spring of 1994 several million copies were in use. Andreessen and his team were then approached by a legendary Silicon Valley entrepreneur, Jim Clark, who was getting bored with the company that he had created with great success, Silicon Graphics.


pages: 602 words: 177,874

Thank You for Being Late: An Optimist's Guide to Thriving in the Age of Accelerations by Thomas L. Friedman

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3D printing, additive manufacturing, affirmative action, Airbnb, AltaVista, Amazon Web Services, autonomous vehicles, Ayatollah Khomeini, barriers to entry, Berlin Wall, Bernie Sanders, bitcoin, blockchain, Bob Noyce, business process, call centre, centre right, Chris Wanstrath, Clayton Christensen, clean water, cloud computing, corporate social responsibility, creative destruction, crowdsourcing, David Brooks, demand response, demographic dividend, demographic transition, Deng Xiaoping, Donald Trump, Erik Brynjolfsson, failed state, Fall of the Berlin Wall, Ferguson, Missouri, first square of the chessboard / second half of the chessboard, Flash crash, game design, gig economy, global supply chain, illegal immigration, immigration reform, income inequality, indoor plumbing, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Internet of things, invention of the steam engine, inventory management, Irwin Jacobs: Qualcomm, Jeff Bezos, job automation, John Markoff, John von Neumann, Khan Academy, Kickstarter, knowledge economy, knowledge worker, land tenure, linear programming, Live Aid, low skilled workers, Lyft, Marc Andreessen, Mark Zuckerberg, mass immigration, Maui Hawaii, Menlo Park, Mikhail Gorbachev, mutually assured destruction, pattern recognition, planetary scale, pull request, Ralph Waldo Emerson, ransomware, Ray Kurzweil, Richard Florida, ride hailing / ride sharing, Robert Gordon, Ronald Reagan, Second Machine Age, self-driving car, shareholder value, sharing economy, Silicon Valley, Skype, smart cities, South China Sea, Steve Jobs, supercomputer in your pocket, TaskRabbit, Thomas L Friedman, transaction costs, Transnistria, urban decay, urban planning, Watson beat the top human players on Jeopardy!, WikiLeaks, women in the workforce, Y2K, Yogi Berra, zero-sum game

Together, these new companies and innovations have reshaped how people and machines communicate, create, collaborate, and think. In 2007, storage capacity for computing exploded thanks to the emergence that year of a company called Hadoop, making “big data” possible for all. In 2007, development began on an open-source platform for writing and collaborating on software, called GitHub, that would vastly expand the ability of software to start, as Netscape founder Marc Andreessen once put it, “eating the world.” On September 26, 2006, Facebook, a social networking site that had been confined to users on college campuses and at high schools, was opened to everyone at least thirteen years old with a valid e-mail address, and started to scale globally. In 2007, a micro-blogging company called Twitter, which had been part of a broader start-up, was spun off as its own separate platform and also started to scale globally.

Irwin: The Cell Phone Guy It was wonderful for consumers for all these networking breakthroughs to occur, but someone had to pack them into a phone you could carry in your pocket to get the full frontal revolution—and no individual was more responsible for this mobile phone revolution than Irwin Jacobs. In the pantheon of the great innovators who launched the Internet age—Bill Gates, Paul Allen, Steve Jobs, Gordon Moore, Bob Noyce, Michael Dell, Jeff Bezos, Marc Andreessen, Andy Grove, Vint Cerf, Bob Kahn, Larry Page, Sergey Brin, and Mark Zuckerberg—save a few lines for Irwin Jacobs, and add Qualcomm to the list of important companies you’ve barely heard of. Qualcomm is to mobile phones what Intel and Microsoft together were to desktops and laptops—the primary inventor, designer, and manufacturer of the microchips and software that run handheld smartphones and tablets.


pages: 406 words: 88,820

Television disrupted: the transition from network to networked TV by Shelly Palmer

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barriers to entry, call centre, commoditize, disintermediation, en.wikipedia.org, hypertext link, interchangeable parts, invention of movable type, Irwin Jacobs: Qualcomm, James Watt: steam engine, Leonard Kleinrock, linear programming, Marc Andreessen, market design, Metcalfe’s law, pattern recognition, peer-to-peer, recommendation engine, Saturday Night Live, shareholder value, Skype, spectrum auction, Steve Jobs, subscription business, Telecommunications Act of 1996, There's no reason for any individual to have a computer in his home - Ken Olsen, Vickrey auction, Vilfredo Pareto, yield management

In 1989, Tim Berners-Lee and a group of other big brains at the European Laboratory for Particle Physics (usually referred to as CERN) proposed the protocol that we now know as HTTP (Hypertext Transfer Protocol) and in 1991 the first World Wide Web pages or Web sites were put online using HTML (Hypertext Markup Language) which is still an extremely popular language for the creation of Web pages. In 1993, Marc Andreessen and his soon-to-be-extraordinarily-rich teammates at the National Center for Supercomputing Applications (NCSA) launched a browser called Mosaic (ultimately Netscape), which became the most popular Web browser until Bill Gates woke up and realized that Microsoft totally missed the evolution of the Internet and the World Wide Web. It didn’t take Microsoft very long to corner the browser market with Internet Explorer, which is still the most popular browser in the world today.


pages: 278 words: 83,468

The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses by Eric Ries

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3D printing, barriers to entry, call centre, Clayton Christensen, clean water, cloud computing, commoditize, Computer Numeric Control, continuous integration, corporate governance, experimental subject, Frederick Winslow Taylor, Lean Startup, Marc Andreessen, Mark Zuckerberg, Metcalfe’s law, minimum viable product, Network effects, payday loans, Peter Thiel, pets.com, Ponzi scheme, pull request, risk tolerance, selection bias, Silicon Valley, Silicon Valley startup, six sigma, skunkworks, stealth mode startup, Steve Jobs, the scientific method, Toyota Production System, transaction costs

Therefore, I strongly recommend that startups focus on one engine at a time. Most entrepreneurs already have a strong leap-of-faith hypothesis about which engine is most likely to work. If they do not, time spent out of the building with customers will quickly suggest one that seems profitable. Only after pursuing one engine thoroughly should a startup consider a pivot to one of the others. ENGINES OF GROWTH DETERMINE PRODUCT/MARKET FIT Marc Andreessen, the legendary entrepreneur and investor and one of the fathers of the World Wide Web, coined the term product/market fit to describe the moment when a startup finally finds a widespread set of customers that resonate with its product: In a great market—a market with lots of real potential customers—the market pulls product out of the startup. This is the story of search keyword advertising, Internet auctions, and TCP/IP routers.


pages: 240 words: 109,474

Masters of Doom: How Two Guys Created an Empire and Transformed Pop Culture by David Kushner

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Apple's 1984 Super Bowl advert, book scanning, Columbine, corporate governance, game design, glass ceiling, Hacker Ethic, informal economy, Marc Andreessen, market design, Marshall McLuhan, Saturday Night Live, side project, Silicon Valley, slashdot, software patent, Steve Jobs, Steven Levy, X Prize

Though a global network of computers had been around since the 1970s –when the U.S. government’s Defense Advanced Research Projects Agency, or DARPA, linked networks of computers (the DARPAnet and, later, the Internet) together around the world–it was just starting to seep into the mainstream. This evolution began in 1989, when a computer researcher in Europe named Tim Berners-Lee wrote a program that linked information on the Internet into what was called the World Wide Web. Four years later, in 1995, two University of Illinois hackers named Marc Andreessen and Eric Bina created and released Mosaic: a free “browser” program that transformed the Web’s unseemly data into more easily digestible, magazinelike pages of graphics and text. With this new user friendliness online, commercial services such as CompuServe and America Online helped court the masses. Among the earliest pioneers, not surprisingly, were gamers–the same ones who had been on online discussion groups and bulletin board systems like Software Creations for years.


pages: 302 words: 86,614

The Alpha Masters: Unlocking the Genius of the World's Top Hedge Funds by Maneet Ahuja, Myron Scholes, Mohamed El-Erian

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activist fund / activist shareholder / activist investor, Asian financial crisis, asset allocation, asset-backed security, backtesting, Bernie Madoff, Bretton Woods, business process, call centre, collapse of Lehman Brothers, collateralized debt obligation, computerized trading, corporate governance, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, diversification, Donald Trump, en.wikipedia.org, family office, fixed income, high net worth, interest rate derivative, Isaac Newton, Long Term Capital Management, Marc Andreessen, Mark Zuckerberg, merger arbitrage, Myron Scholes, NetJets, oil shock, pattern recognition, Ponzi scheme, quantitative easing, quantitative trading / quantitative finance, Renaissance Technologies, risk-adjusted returns, risk/return, rolodex, short selling, Silicon Valley, South Sea Bubble, statistical model, Steve Jobs, systematic trading, zero-sum game

To all of the data providers that generously compiled charts and graphs for this book, especially Hedge Fund Intelligence, LCH Investments NV, Ipreo: Bigdough, and Hedge Fund Research. To all of my friends, sources in the industry, and individuals who have aided me through various stages of the book, including: David & Cheryl Einhorn, Whitney Tilson, James Grant, Alan Greenspan, Katie Broom, Sam Zell, Terry Holt, Barry Sternlicht, Beth Shanholtz, Ace Greenberg, Israel Englander, John Novogratz, Nelson Peltz, Anne Tarbell, Marc Andreessen, Michael Vachon, Elissa Doyle, Margit Wennmachers, Randall Kroszner, Jenny Farrelly, Tom Hill, Jonathan Gray, Peter Rose, Anne Popkin, Anthony Scaramucci, Victor Oviedo, David Waller, Sallie Krawcheck, Armel Leslie, Stefan Prelog, Chris Gillick, Alexis Israel, Lex Suvato, Kenny Dichter, Steve Starker, Saadi Ouaaz, Jonathan Wald, Jayesh Punater, James Wong, Joseph Weisenthal, Julie Vadnal, Darcy Bradbury, Trey Beck, Kyle Bass, and Jacob Wolinsky.


pages: 465 words: 109,653

Free Ride by Robert Levine

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A Declaration of the Independence of Cyberspace, Anne Wojcicki, book scanning, borderless world, Buckminster Fuller, citizen journalism, commoditize, correlation does not imply causation, creative destruction, crowdsourcing, death of newspapers, Edward Lloyd's coffeehouse, Electric Kool-Aid Acid Test, Firefox, future of journalism, Googley, Hacker Ethic, informal economy, Jaron Lanier, Julian Assange, Justin.tv, Kevin Kelly, linear programming, Marc Andreessen, moral panic, offshore financial centre, pets.com, publish or perish, race to the bottom, Saturday Night Live, Silicon Valley, Silicon Valley startup, Skype, spectrum auction, Steve Jobs, Steven Levy, Stewart Brand, subscription business, Telecommunications Act of 1996, Whole Earth Catalog, WikiLeaks

But that counts as good news to this crowd: the industry saw average declines of 16.6 percent and 27.2 percent in those years.23 “At first people thought, ‘This guy’s a Luddite,’ ” the Dallas Morning News’s chief executive, James Moroney III, says after the conference. “Now he’s been vindicated.” Editor & Publisher named Hussman Publisher of the Year in 2008, and the Atlantic chose him as one of its “Brave Thinkers” the following year. Executives from bigger newspaper chains regularly call for advice. Some technology executives have advised publishers to embrace the Internet, even if that means losing money. In March 2010, Netscape’s cofounder Marc Andreessen, who owns part of the online news recommendation service Digg, suggested that newspapers abandon their print businesses entirely, to “burn the boats,” as the Spanish conquistador Hernán Cortés is said to have done to force his expedition forward. More free online news would certainly benefit Digg, but it’s hard to see how it would help newspapers. Printing and distribution account for about half a newspaper’s costs, but the print editions they produce can generate about 90 percent of its revenue.


pages: 379 words: 109,612

Is the Internet Changing the Way You Think?: The Net's Impact on Our Minds and Future by John Brockman

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A Declaration of the Independence of Cyberspace, Albert Einstein, AltaVista, Amazon Mechanical Turk, Asperger Syndrome, availability heuristic, Benoit Mandelbrot, biofilm, Black Swan, British Empire, conceptual framework, corporate governance, Danny Hillis, Douglas Engelbart, Douglas Engelbart, Emanuel Derman, epigenetics, Flynn Effect, Frank Gehry, Google Earth, hive mind, Howard Rheingold, index card, information retrieval, Internet Archive, invention of writing, Jane Jacobs, Jaron Lanier, John Markoff, Kevin Kelly, lifelogging, lone genius, loss aversion, mandelbrot fractal, Marc Andreessen, Marshall McLuhan, Menlo Park, meta analysis, meta-analysis, New Journalism, Nicholas Carr, out of africa, Paul Samuelson, peer-to-peer, Ponzi scheme, pre–internet, Richard Feynman, Richard Feynman, Rodney Brooks, Ronald Reagan, Schrödinger's Cat, Search for Extraterrestrial Intelligence, SETI@home, Silicon Valley, Skype, slashdot, smart grid, social graph, social software, social web, Stephen Hawking, Steve Wozniak, Steven Pinker, Stewart Brand, Ted Nelson, telepresence, the medium is the message, the scientific method, The Wealth of Nations by Adam Smith, theory of mind, trade route, upwardly mobile, Vernor Vinge, Whole Earth Catalog, X Prize

One of my fellow graduate students (a former Microsoft programmer who liked to stay abreast of things) had drawn a crowd around his flickering UNIX box. I shouldered my way in, then became transfixed as his fingers flew over XMosaic, the first widely available Web browser in the world. XMosaic was only months old. It had been written at the University of Illinois by an undergraduate named Marc Andreessen (a year later he would launch Netscape, its multibillion-dollar successor) and Eric Bina at the National Center for Supercomputer Applications. There were already some Websites up and running. Urged on by his crowd’s word search suggestions (“Sex!” “Kurt Cobain!” “Landsat!”), my fellow student lifted the curtain on a new world of commerce, entertainment, and scientific exchange in barely fifteen minutes.


pages: 339 words: 88,732

The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies by Erik Brynjolfsson, Andrew McAfee

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2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, 3D printing, access to a mobile phone, additive manufacturing, Airbnb, Albert Einstein, Amazon Mechanical Turk, Amazon Web Services, American Society of Civil Engineers: Report Card, Any sufficiently advanced technology is indistinguishable from magic, autonomous vehicles, barriers to entry, basic income, Baxter: Rethink Robotics, British Empire, business intelligence, business process, call centre, Chuck Templeton: OpenTable, clean water, combinatorial explosion, computer age, computer vision, congestion charging, corporate governance, creative destruction, crowdsourcing, David Ricardo: comparative advantage, digital map, employer provided health coverage, en.wikipedia.org, Erik Brynjolfsson, factory automation, falling living standards, Filter Bubble, first square of the chessboard / second half of the chessboard, Frank Levy and Richard Murnane: The New Division of Labor, Freestyle chess, full employment, game design, global village, happiness index / gross national happiness, illegal immigration, immigration reform, income inequality, income per capita, indoor plumbing, industrial robot, informal economy, intangible asset, inventory management, James Watt: steam engine, Jeff Bezos, jimmy wales, job automation, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, Joseph Schumpeter, Kevin Kelly, Khan Academy, knowledge worker, Kodak vs Instagram, law of one price, low skilled workers, Lyft, Mahatma Gandhi, manufacturing employment, Marc Andreessen, Mark Zuckerberg, Mars Rover, mass immigration, means of production, Narrative Science, Nate Silver, natural language processing, Network effects, new economy, New Urbanism, Nicholas Carr, Occupy movement, oil shale / tar sands, oil shock, pattern recognition, Paul Samuelson, payday loans, price stability, Productivity paradox, profit maximization, Ralph Nader, Ray Kurzweil, recommendation engine, Report Card for America’s Infrastructure, Robert Gordon, Rodney Brooks, Ronald Reagan, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Simon Kuznets, six sigma, Skype, software patent, sovereign wealth fund, speech recognition, statistical model, Steve Jobs, Steven Pinker, Stuxnet, supply-chain management, TaskRabbit, technological singularity, telepresence, The Bell Curve by Richard Herrnstein and Charles Murray, The Signal and the Noise by Nate Silver, The Wealth of Nations by Adam Smith, total factor productivity, transaction costs, Tyler Cowen: Great Stagnation, Vernor Vinge, Watson beat the top human players on Jeopardy!, winner-take-all economy, Y2K

Watt, James wavelength division multiplexing (WDM) Waze Weitzman, Martin West, Darrell West, Martin wheelchairs, AI technology in When Work Disappears (Wilson) Why Nations Fail (Acemoglu and Robinson) Why the West Rules—For Now (Morris) Wikipedia Wilson, William Julius “winner-take-all” markets Winner-Take-All Society, The (Frank and Cook) Winship, Scott Woessmann, Ludger Wolff, Ed Wordsworth, William World Bank World Wide Web see also global digital network; Internet Wright, Gavin writing: by computers development of Wu, Lynn Xbox Y2K bug Yang, Shinkyu Yelp YouTube Zara More Praise for The Second Machine Age “Brynjolfsson and McAfee are right: we are on the cusp of a dramatically different world brought on by technology. The Second Machine Age is the book for anyone who wants to thrive in it. I’ll encourage all of our entrepreneurs to read it, and hope their competitors don’t.” —Marc Andreessen, cofounder of Netscape and Andreessen Horowitz “What globalization was to the economic debates of the late 20th century, technological change is to the early 21st century. Long after the financial crisis and great recession have receded, the issues raised in this important book will be central to our lives and our politics.” —Lawrence H. Summers, Charles W. Eliot University Professor at Harvard University “Technology is overturning the world’s economies, and The Second Machine Age is the best explanation of this revolution yet written.”


pages: 314 words: 83,631

Tubes: A Journey to the Center of the Internet by Andrew Blum

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air freight, cable laying ship, call centre, Donald Davies, global village, Hibernia Atlantic: Project Express, if you build it, they will come, inflight wifi, invisible hand, John Markoff, Kevin Kelly, Leonard Kleinrock, Marc Andreessen, Mark Zuckerberg, Menlo Park, Mercator projection, Network effects, New Urbanism, packet switching, Ralph Waldo Emerson, RAND corporation, side project, Silicon Valley, Skype, South of Market, San Francisco, Steve Crocker, Steve Jobs, Steven Levy, urban planning, WikiLeaks, zero-sum game

Netscape released its web browser in October, as Microsoft ramped up the advertising campaign for its own “Internet Explorer.” The Internet was about to go mainstream, once and for all. The roof was about to blow off. But which roof, really? The boom would strain the Internet’s existing infrastructure to the breaking point. So who would save it? How did it expand? To where? I’d heard the business stories of the dot-com boom, about how Jim Clark and Marc Andreessen founded Netscape, and Bill Gates battled to keep Internet Explorer an integral part of Microsoft’s Windows operating system. But what about the networks themselves, and their places of connections? In a business that’s always been obsessed with the next new thing, who was still around to tell that story? I went back to California—only to hear about Virginia. On a characteristically damp and gray San Francisco day, I met a network engineer named Steve Feldman at a café a few blocks from his office, in the heart of the cluster of Internet companies located south of Market Street.


pages: 385 words: 101,761

Creative Intelligence: Harnessing the Power to Create, Connect, and Inspire by Bruce Nussbaum

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3D printing, Airbnb, Albert Einstein, Berlin Wall, Black Swan, Chuck Templeton: OpenTable, clean water, collapse of Lehman Brothers, creative destruction, Credit Default Swap, crony capitalism, crowdsourcing, Danny Hillis, declining real wages, demographic dividend, Elon Musk, en.wikipedia.org, Eugene Fama: efficient market hypothesis, Fall of the Berlin Wall, follow your passion, game design, housing crisis, Hyman Minsky, industrial robot, invisible hand, James Dyson, Jane Jacobs, Jeff Bezos, jimmy wales, John Gruber, John Markoff, Joseph Schumpeter, Kickstarter, lone genius, manufacturing employment, Marc Andreessen, Mark Zuckerberg, Martin Wolf, new economy, Paul Graham, Peter Thiel, QR code, race to the bottom, reshoring, Richard Florida, Ronald Reagan, shareholder value, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, six sigma, Skype, Steve Ballmer, Steve Jobs, Steve Wozniak, supply-chain management, Tesla Model S, The Chicago School, The Design of Experiments, the High Line, The Myth of the Rational Market, thinkpad, Tim Cook: Apple, too big to fail, tulip mania, We are the 99%, Y Combinator, young professional, Zipcar

With enough money to do a start-up, Zuckerberg hired Owen Van Natta from Amazon, and Van Natta was instrumental in increasing revenue and building out the company from twenty-six employees to hundreds. Then he fired Van Natta and hired Sheryl Sandberg, a veteran manager from Google, to help him scale Facebook to a global corporation. Along this journey, according to Blodget, Zuckerberg sought counsel from the likes of Peter Thiel, who was an early investor; Marc Andreessen, now a board member; and LinkedIn’s Reid Hoffman. None of this was easy for Zuckerberg, who was far more comfortable as a software programmer and product designer. But he pushed himself to find people who could teach him a wide variety of communication and business skills, which he used to further his vision. When I saw him in Davos, he was already on his way to shape shifting from computer nerd to high-tech entrepreneur, exuding a confidence in his calling that didn’t exist when he was in school.


pages: 484 words: 104,873

Rise of the Robots: Technology and the Threat of a Jobless Future by Martin Ford

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3D printing, additive manufacturing, Affordable Care Act / Obamacare, AI winter, algorithmic trading, Amazon Mechanical Turk, artificial general intelligence, assortative mating, autonomous vehicles, banking crisis, basic income, Baxter: Rethink Robotics, Bernie Madoff, Bill Joy: nanobots, call centre, Capital in the Twenty-First Century by Thomas Piketty, Chris Urmson, Clayton Christensen, clean water, cloud computing, collateralized debt obligation, commoditize, computer age, creative destruction, debt deflation, deskilling, diversified portfolio, Erik Brynjolfsson, factory automation, financial innovation, Flash crash, Fractional reserve banking, Freestyle chess, full employment, Goldman Sachs: Vampire Squid, Gunnar Myrdal, High speed trading, income inequality, indoor plumbing, industrial robot, informal economy, iterative process, Jaron Lanier, job automation, John Markoff, John Maynard Keynes: technological unemployment, John von Neumann, Kenneth Arrow, Khan Academy, knowledge worker, labor-force participation, labour mobility, liquidity trap, low skilled workers, low-wage service sector, Lyft, manufacturing employment, Marc Andreessen, McJob, moral hazard, Narrative Science, Network effects, new economy, Nicholas Carr, Norbert Wiener, obamacare, optical character recognition, passive income, Paul Samuelson, performance metric, Peter Thiel, Plutocrats, plutocrats, post scarcity, precision agriculture, price mechanism, Ray Kurzweil, rent control, rent-seeking, reshoring, RFID, Richard Feynman, Richard Feynman, Rodney Brooks, secular stagnation, self-driving car, Silicon Valley, Silicon Valley startup, single-payer health, software is eating the world, sovereign wealth fund, speech recognition, Spread Networks laid a new fibre optics cable between New York and Chicago, stealth mode startup, stem cell, Stephen Hawking, Steve Jobs, Steven Levy, Steven Pinker, strong AI, Stuxnet, technological singularity, telepresence, telepresence robot, The Bell Curve by Richard Herrnstein and Charles Murray, The Coming Technological Singularity, The Future of Employment, Thomas L Friedman, too big to fail, Tyler Cowen: Great Stagnation, union organizing, Vernor Vinge, very high income, Watson beat the top human players on Jeopardy!, women in the workforce

In 2012, Roman Stanek, the CEO of Good Data, a San Francisco company that uses Amazon’s cloud services to perform data analysis for about 6,000 clients, noted that “[b]efore, each [client] company needed at least five people to do this work. That is 30,000 people. I do it with 180. I don’t know what all those other people will do now, but this isn’t work they can do anymore. It’s a winner-takes-all consolidation.”30 The evaporation of thousands of skilled information technology jobs is likely a precursor for a much more wide-ranging impact on knowledge-based employment. As Netscape co-founder and venture capitalist Marc Andreessen famously said, “Software is eating the world.” More often than not, that software will be hosted in the cloud. From that vantage point it will eventually be poised to invade virtually every workplace and swallow up nearly any white-collar job that involves sitting in front of a computer manipulating information. Algorithms on the Frontier If there is one myth regarding computer technology that ought to be swept into the dustbin it is the pervasive believe that computers can do only what they are specifically programmed to do.


pages: 370 words: 97,138

Beyond: Our Future in Space by Chris Impey

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3D printing, Admiral Zheng, Albert Einstein, Alfred Russel Wallace, Berlin Wall, Buckminster Fuller, butterfly effect, California gold rush, carbon-based life, Colonization of Mars, cosmic abundance, crowdsourcing, cuban missile crisis, dark matter, discovery of DNA, Doomsday Clock, Edward Snowden, Elon Musk, Eratosthenes, Haight Ashbury, Hyperloop, I think there is a world market for maybe five computers, Isaac Newton, Jeff Bezos, John von Neumann, Kickstarter, life extension, Mahatma Gandhi, Marc Andreessen, Mars Rover, mutually assured destruction, Oculus Rift, operation paperclip, out of africa, Peter H. Diamandis: Planetary Resources, phenotype, purchasing power parity, RAND corporation, Ray Kurzweil, RFID, Richard Feynman, Richard Feynman, Richard Feynman: Challenger O-ring, risk tolerance, Rubik’s Cube, Search for Extraterrestrial Intelligence, Searching for Interstellar Communications, Silicon Valley, skunkworks, Skype, Stephen Hawking, Steven Pinker, supervolcano, technological singularity, telepresence, telerobotics, the medium is the message, the scientific method, theory of mind, There's no reason for any individual to have a computer in his home - Ken Olsen, V2 rocket, wikimedia commons, X Prize, Yogi Berra

The US Congress passed a law that allowed the NSF to support access to networks that weren’t used exclusively for research and education. This created angst as researchers worried that the new Internet might not be responsive to their needs. The online world had always been a geeky place of text and equations, but in 1989 CERN researcher Tim Berners-Lee released his hypertext concept for public use. In 1993, a team led by Marc Andreessen at the University of Illinois increased the visual appeal of the Internet by releasing the first web browser, called Mosaic. Encryption was added soon afterward to make transactions more secure. In 1995, the NSF dropped all restrictions on Internet commerce and let private companies take over the high-speed “backbone.” That year also saw the founding of the Yahoo search engine, the auction site eBay, and the online bookseller Amazon.


pages: 352 words: 96,532

Where Wizards Stay Up Late: The Origins of the Internet by Katie Hafner, Matthew Lyon

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air freight, Bill Duvall, computer age, conceptual framework, Donald Davies, Douglas Engelbart, Douglas Engelbart, fault tolerance, Hush-A-Phone, information retrieval, John Markoff, Kevin Kelly, Leonard Kleinrock, Marc Andreessen, Menlo Park, natural language processing, packet switching, RAND corporation, RFC: Request For Comment, Robert Metcalfe, Ronald Reagan, Silicon Valley, speech recognition, Steve Crocker, Steven Levy

The group around the telephone grew uncomfortable. “How about women?” asked the reporter, perhaps to break the silence. “Are there any female pioneers?” More silence. The weekend was as noteworthy for who wasn’t present as for who was. Tim Berners-Lee, the inventor of the World Wide Web, had just moved to Boston from Geneva to join MIT’s Laboratory for Computer Science. He wasn’t invited, nor was Marc Andreessen, the co-programmer of Mosaic, who had just left Illinois to develop a commercial version of his Web browser. Granted, they hadn’t played roles in the birth of either the ARPANET or the Internet (Andreessen wasn’t even born until 1972, after the first ARPANET nodes were installed) and couldn’t technically be counted as founders. But they were behind the two inventions that were already giving the Net its biggest reach into everyday life.


pages: 391 words: 105,382

Utopia Is Creepy: And Other Provocations by Nicholas Carr

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Air France Flight 447, Airbnb, Airbus A320, AltaVista, Amazon Mechanical Turk, augmented reality, autonomous vehicles, Bernie Sanders, book scanning, Brewster Kahle, Buckminster Fuller, Burning Man, Captain Sullenberger Hudson, centralized clearinghouse, cloud computing, cognitive bias, collaborative consumption, computer age, corporate governance, crowdsourcing, Danny Hillis, deskilling, digital map, Donald Trump, Electric Kool-Aid Acid Test, Elon Musk, factory automation, failed state, feminist movement, Frederick Winslow Taylor, friendly fire, game design, global village, Google bus, Google Glasses, Google X / Alphabet X, Googley, hive mind, impulse control, indoor plumbing, interchangeable parts, Internet Archive, invention of movable type, invention of the steam engine, invisible hand, Isaac Newton, Jeff Bezos, jimmy wales, job automation, Kevin Kelly, lifelogging, low skilled workers, Marc Andreessen, Mark Zuckerberg, Marshall McLuhan, means of production, Menlo Park, mental accounting, natural language processing, Network effects, new economy, Nicholas Carr, Norman Mailer, off grid, oil shale / tar sands, Peter Thiel, Plutocrats, plutocrats, profit motive, Ralph Waldo Emerson, Ray Kurzweil, recommendation engine, Republic of Letters, robot derives from the Czech word robota Czech, meaning slave, Ronald Reagan, self-driving car, SETI@home, side project, Silicon Valley, Silicon Valley ideology, Singularitarianism, Snapchat, social graph, social web, speech recognition, Startup school, stem cell, Stephen Hawking, Steve Jobs, Steven Levy, technoutopianism, the medium is the message, theory of mind, Turing test, Whole Earth Catalog, Y Combinator

“Behold,” proclaimed Wired in an August 2005 cover story: We are entering a “new world,” powered not by God’s grace but by the web’s “electricity of participation.” It would be a paradise of our own making, “manufactured by users.” History’s databases would be erased, humankind rebooted. “You and I are alive at this moment.” The revelation continues to this day, the technological paradise forever glittering on the horizon. Even money men have taken sidelines in starry-eyed futurism. In 2014, venture capitalist Marc Andreessen sent out a rhapsodic series of tweets—he called it a “tweetstorm”—announcing that computers and robots were about to liberate us all from “physical need constraints.” Echoing John Adolphus Etzler (and also Karl Marx), he declared that “for the first time in history” humankind would be able to express its full and true nature: “We will be whoever we want to be. The main fields of human endeavor will be culture, arts, sciences, creativity, philosophy, experimentation, exploration, adventure.”


pages: 296 words: 86,610

The Bitcoin Guidebook: How to Obtain, Invest, and Spend the World's First Decentralized Cryptocurrency by Ian Demartino

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3D printing, AltaVista, altcoin, bitcoin, blockchain, buy low sell high, capital controls, cloud computing, corporate governance, crowdsourcing, cryptocurrency, distributed ledger, Edward Snowden, Elon Musk, ethereum blockchain, fiat currency, Firefox, forensic accounting, global village, GnuPG, Google Earth, Haight Ashbury, Jacob Appelbaum, Kevin Kelly, Kickstarter, litecoin, M-Pesa, Marc Andreessen, Marshall McLuhan, Oculus Rift, peer-to-peer, peer-to-peer lending, Ponzi scheme, prediction markets, QR code, ransomware, Satoshi Nakamoto, self-driving car, Skype, smart contracts, Steven Levy, the medium is the message, underbanked, WikiLeaks, Zimmermann PGP

Accessed June 22, 2015. http://www.investopedia.com/terms/l/linden-dollar.asp. Chapter 11: Working for Bitcoin The Bitcoin ledger is a new kind of payment system. Anyone in the world can pay anyone else in the world any amount of value of Bitcoin by simply transferring ownership of the corresponding slot in the ledger. Put value in, transfer it, the recipient gets value out, no authorization required, and in many cases, no fees. —Marc Andreessen Getting paid in Bitcoin has been a breeze, except during the tax season, which can be complicated. I’ve done it for years now. I have also paid my rent and other bills using Bitcoin or dollars that I obtained by selling bitcoins. It is a viable option for anyone with a marketable skill. Virtually anything that can be done online can be paid for in Bitcoin and the job market is quickly growing for in-person jobs as well.


pages: 366 words: 94,209

Throwing Rocks at the Google Bus: How Growth Became the Enemy of Prosperity by Douglas Rushkoff

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3D printing, activist fund / activist shareholder / activist investor, Airbnb, algorithmic trading, Amazon Mechanical Turk, Andrew Keen, bank run, banking crisis, barriers to entry, bitcoin, blockchain, Burning Man, business process, buy low sell high, California gold rush, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, centralized clearinghouse, citizen journalism, clean water, cloud computing, collaborative economy, collective bargaining, colonial exploitation, Community Supported Agriculture, corporate personhood, corporate raider, creative destruction, crowdsourcing, cryptocurrency, disintermediation, diversified portfolio, Elon Musk, Erik Brynjolfsson, ethereum blockchain, fiat currency, Firefox, Flash crash, full employment, future of work, gig economy, Gini coefficient, global supply chain, global village, Google bus, Howard Rheingold, IBM and the Holocaust, impulse control, income inequality, index fund, iterative process, Jaron Lanier, Jeff Bezos, jimmy wales, job automation, Joseph Schumpeter, Kickstarter, loss aversion, Lyft, Marc Andreessen, Mark Zuckerberg, market bubble, market fundamentalism, Marshall McLuhan, means of production, medical bankruptcy, minimum viable product, Naomi Klein, Network effects, new economy, Norbert Wiener, Oculus Rift, passive investing, payday loans, peer-to-peer lending, Peter Thiel, post-industrial society, profit motive, quantitative easing, race to the bottom, recommendation engine, reserve currency, RFID, Richard Stallman, ride hailing / ride sharing, Ronald Reagan, Satoshi Nakamoto, Second Machine Age, shareholder value, sharing economy, Silicon Valley, Snapchat, social graph, software patent, Steve Jobs, TaskRabbit, The Future of Employment, trade route, transportation-network company, Turing test, Uber and Lyft, Uber for X, unpaid internship, Y Combinator, young professional, zero-sum game, Zipcar

They are not part of the real economy or even the real world but part of the process through which working assets are converted into new stockpiles of dead ones. That’s all they have really accomplished with whatever digital fad they’ve foisted onto the market or sold to yesterday’s tech winners. They thought they were engineering a new technology, when they were actually engineering a reallocation of capital. That’s why digital entrepreneurs who do win often end up becoming the next generation of venture capitalists. Everyone from Marc Andreessen (Netscape) to Sean Parker (Napster) to Peter Thiel (PayPal) to Jack Dorsey (Twitter) now runs venture funds of his own. Facebook and Google, once startups themselves, now acquire more businesses than they incubate internally. With each new generation, firms and investors leverage the startup economy more deliberately, or even cynically. After all, a win is a win. Take OMGPop, a gaming Web site startup that won a spot in the Y Combinator incubator to build social games.


pages: 371 words: 108,317

The Inevitable: Understanding the 12 Technological Forces That Will Shape Our Future by Kevin Kelly

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3D printing, A Declaration of the Independence of Cyberspace, AI winter, Airbnb, Albert Einstein, Amazon Web Services, augmented reality, bank run, barriers to entry, Baxter: Rethink Robotics, bitcoin, blockchain, book scanning, Brewster Kahle, Burning Man, cloud computing, commoditize, computer age, connected car, crowdsourcing, dark matter, dematerialisation, Downton Abbey, Edward Snowden, Elon Musk, Filter Bubble, Freestyle chess, game design, Google Glasses, hive mind, Howard Rheingold, index card, indoor plumbing, industrial robot, Internet Archive, Internet of things, invention of movable type, invisible hand, Jaron Lanier, Jeff Bezos, job automation, John Markoff, Kevin Kelly, Kickstarter, lifelogging, linked data, Lyft, M-Pesa, Marc Andreessen, Marshall McLuhan, means of production, megacity, Minecraft, multi-sided market, natural language processing, Netflix Prize, Network effects, new economy, Nicholas Carr, old-boy network, peer-to-peer, peer-to-peer lending, personalized medicine, placebo effect, planetary scale, postindustrial economy, recommendation engine, RFID, ride hailing / ride sharing, Rodney Brooks, self-driving car, sharing economy, Silicon Valley, slashdot, Snapchat, social graph, social web, software is eating the world, speech recognition, Stephen Hawking, Steven Levy, Ted Nelson, the scientific method, transport as a service, two-sided market, Uber for X, Watson beat the top human players on Jeopardy!, Whole Earth Review, zero-sum game

weight of the average automobile has fallen: Ronald Bailey, “Dematerializing the Economy,” Reason.com, September 5, 2001. In 1930 it took only one kilogram: Sylvia Gierlinger and Fridolin Krausmann, “The Physical Economy of the United States of America,” Journal of Industrial Ecology 16, no. 3 (2012): 365–77, Figure 4a. from $1.64 in 1977 to $3.58 in 2000: Figures adjusted for inflation. Ronald Bailey, “Dematerializing the Economy,” Reason.com, September 5, 2001. “Software eats everything”: Marc Andreessen, “Why Software Is Eating the World,” Wall Street Journal, August 20, 2011. Toffler called in 1980 the “prosumer”: Alvin Toffler, The Third Wave (New York: Bantam, 1984). subscribe to Photoshop: “Subscription Products Boost Adobe Fiscal 2Q Results,” Associated Press, June 16, 2015. Uber for laundry: Jessica Pressler, “‘Let’s, Like, Demolish Laundry,’” New York, May 21, 2014. Uber for doctor house calls: Jennifer Jolly, “An Uber for Doctor House Calls,” New York Times, May 5, 2015.


pages: 349 words: 109,304

American Kingpin by Nick Bilton

bitcoin, blockchain, crack epidemic, Edward Snowden, mandatory minimum, Marc Andreessen, Mark Zuckerberg, Rubik’s Cube, Satoshi Nakamoto, side project, Silicon Valley, Skype, South of Market, San Francisco, Steve Jobs, Ted Kaczynski, the market place, trade route, white picket fence, WikiLeaks

Each tête-à-tête was an instructive lesson for Ross, whether he was learning how to set up a Bitcoin config file on the server, managing warring factions of dealers on the site, or understanding how he was perceived by the proletariat who used the Silk Road. At its core, though, the relationship was personal. VJ’s greatest value was as an executive coach of sorts—someone who could mentor the young founder through problems germane to any start-up, like Bill Campbell, who had helped the creators of Twitter and Google, or Marc Andreessen, who offered advice to Mark Zuckerberg at Facebook. “What are my strengths?” Ross asked VJ one afternoon, hoping that his new confidant could hold up a mirror for Ross to see himself, a view that Ross, in his secret solitude, was incapable of discerning on his own. “You play your cards close,” VJ replied. “You really do get that it’s gone from fun and games to a very serious life or death lifestyle you’ve created.”


pages: 302 words: 82,233

Beautiful security by Andy Oram, John Viega

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Albert Einstein, Amazon Web Services, business intelligence, business process, call centre, cloud computing, corporate governance, credit crunch, crowdsourcing, defense in depth, Donald Davies, en.wikipedia.org, fault tolerance, Firefox, loose coupling, Marc Andreessen, market design, Monroe Doctrine, new economy, Nicholas Carr, Nick Leeson, Norbert Wiener, optical character recognition, packet switching, peer-to-peer, performance metric, pirate software, Robert Bork, Search for Extraterrestrial Intelligence, security theater, SETI@home, Silicon Valley, Skype, software as a service, statistical model, Steven Levy, The Wisdom of Crowds, Upton Sinclair, web application, web of trust, x509 certificate, zero day, Zimmermann PGP

Security economics may well provide a platform on which companies can demonstrate the cost-benefit ratios of various kinds of security and derive a competitive advantage implementing them. 164 CHAPTER NINE Platforms of the Long-Tail Variety: Why the Future Will Be Different for Us All A “platform” is a system that can be programmed and therefore customized by outside developers—users—and in that way, adapted to countless needs and niches that the platform’s original developers could not have possibly contemplated, much less had time to accommodate. —Marc Andreessen, founder of Netscape In October 2004, Chris Anderson, the editor in chief of the popular Wired Magazine, wrote an article about technology economics.§ The article spawned a book called The Long Tail (Hyperion) that attempts to explain economic phenomena in the digital age and provide insight into opportunities for future product and service strategies. The theory suggests that the distribution curve for products and services is altering to a skewed shape that concentrates a large portion of the demand in a “long tail”: many different products or service offerings that each enjoy a small consumer base.


pages: 320 words: 87,853

The Black Box Society: The Secret Algorithms That Control Money and Information by Frank Pasquale

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Affordable Care Act / Obamacare, algorithmic trading, Amazon Mechanical Turk, American Legislative Exchange Council, asset-backed security, Atul Gawande, bank run, barriers to entry, basic income, Berlin Wall, Bernie Madoff, Black Swan, bonus culture, Brian Krebs, call centre, Capital in the Twenty-First Century by Thomas Piketty, Chelsea Manning, Chuck Templeton: OpenTable, cloud computing, collateralized debt obligation, computerized markets, corporate governance, Credit Default Swap, credit default swaps / collateralized debt obligations, crowdsourcing, cryptocurrency, Debian, don't be evil, drone strike, Edward Snowden, en.wikipedia.org, Fall of the Berlin Wall, Filter Bubble, financial innovation, financial thriller, fixed income, Flash crash, full employment, Goldman Sachs: Vampire Squid, Google Earth, Hernando de Soto, High speed trading, hiring and firing, housing crisis, informal economy, information asymmetry, information retrieval, interest rate swap, Internet of things, invisible hand, Jaron Lanier, Jeff Bezos, job automation, Julian Assange, Kevin Kelly, knowledge worker, Kodak vs Instagram, kremlinology, late fees, London Interbank Offered Rate, London Whale, Marc Andreessen, Mark Zuckerberg, mobile money, moral hazard, new economy, Nicholas Carr, offshore financial centre, PageRank, pattern recognition, Philip Mirowski, precariat, profit maximization, profit motive, quantitative easing, race to the bottom, recommendation engine, regulatory arbitrage, risk-adjusted returns, Satyajit Das, search engine result page, shareholder value, Silicon Valley, Snapchat, Spread Networks laid a new fibre optics cable between New York and Chicago, statistical arbitrage, statistical model, Steven Levy, the scientific method, too big to fail, transaction costs, two-sided market, universal basic income, Upton Sinclair, value at risk, WikiLeaks, zero-sum game

Even Apple’s greatest misstep—forcing Google off its iOS in favor of an incomplete and ill-conceived maps app of its own— was an (unsuccessful) attempt to compete with Google for the locational data that Google’s map ser vices were collecting.212 And what does “Googlization” mean to traditional publishers, booksellers, and educators, who don’t have Google’s opportunity to match individuals to “optimal” sources of information based on their past predilections, demonstrated abilities, and willingness to pay? That Silicon Valley engineers and managers are in charge of their fortunes. Of course, Google isn’t the only press baron on the horizon; Amazonification, Facebookization, and Twitterification also beckon. Some will further hollow out once-hallowed properties. Others will invest, as venture capitalist Marc Andreessen recommends. Though he strikes fear into publishers, Amazon’s Jeff Bezos has not yet reduced writers at his newspaper (the Washington Post) to the status of Mechanical Turkers or warehouse pickers.213 But we should not assume media independence as tech firms swallow more of the revenue that might have once gone to journalists. After Amazon inked a $600 million deal to provide the CIA with cloud computing services, 30,000 people petitioned the Post with the message “Washington Post: Readers Deserve Full Disclosure in Coverage of CIA.”214 Such inquiries will only become more common as Washington and Silicon Valley develop more partnerships for information dominance.


pages: 496 words: 154,363

I'm Feeling Lucky: The Confessions of Google Employee Number 59 by Douglas Edwards

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Albert Einstein, AltaVista, Any sufficiently advanced technology is indistinguishable from magic, barriers to entry, book scanning, Build a better mousetrap, Burning Man, business intelligence, call centre, commoditize, crowdsourcing, don't be evil, Elon Musk, fault tolerance, Googley, gravity well, invisible hand, Jeff Bezos, job-hopping, John Markoff, Marc Andreessen, Menlo Park, microcredit, music of the spheres, Network effects, P = NP, PageRank, performance metric, pets.com, Ralph Nader, risk tolerance, second-price auction, side project, Silicon Valley, Silicon Valley startup, slashdot, stem cell, Superbowl ad, Y2K

By the end of the year we proved our intent had always been honorable, rolling out not just the features users had clamored for but an archive that extended back twenty years instead of just the five Deja had offered.* This was almost single-handedly the work of Michael Schmitt, an engineer who took it upon himself to conduct a global search to track down tapes and CD backups of the earliest Usenet posts and the hardware that could read them. He recovered for posterity the first Usenet mention of Microsoft, Tim Berners-Lee's first posted reference to the "World Wide Web," and Marc Andreessen's public disclosure of the Mosaic web browser that would become Netscape. "If there were justice in the world," wrote a formerly disappointed Usenetter, "you guys would be rich and Bill Gates would be standing in line waiting for watery soup." Not that Larry and Sergey needed affirmation that they had made the right call, but still, it was nice to hear. Chapter 15 Managers in Hot Tubs and in Hot Water A MONTH AFTER WE bought Deja, a hundred and forty Googlers packed up overnight bags, boarded a fleet of buses, and headed for the hills.


pages: 413 words: 119,587

Machines of Loving Grace: The Quest for Common Ground Between Humans and Robots by John Markoff

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A Declaration of the Independence of Cyberspace, AI winter, airport security, Apple II, artificial general intelligence, Asilomar, augmented reality, autonomous vehicles, basic income, Baxter: Rethink Robotics, Bill Duvall, bioinformatics, Brewster Kahle, Burning Man, call centre, cellular automata, Chris Urmson, Claude Shannon: information theory, Clayton Christensen, clean water, cloud computing, collective bargaining, computer age, computer vision, crowdsourcing, Danny Hillis, DARPA: Urban Challenge, data acquisition, Dean Kamen, deskilling, don't be evil, Douglas Engelbart, Douglas Engelbart, Douglas Hofstadter, Dynabook, Edward Snowden, Elon Musk, Erik Brynjolfsson, factory automation, From Mathematics to the Technologies of Life and Death, future of work, Galaxy Zoo, Google Glasses, Google X / Alphabet X, Grace Hopper, Gunnar Myrdal, Gödel, Escher, Bach, Hacker Ethic, haute couture, hive mind, hypertext link, indoor plumbing, industrial robot, information retrieval, Internet Archive, Internet of things, invention of the wheel, Jacques de Vaucanson, Jaron Lanier, Jeff Bezos, job automation, John Conway, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, John von Neumann, Kevin Kelly, knowledge worker, Kodak vs Instagram, labor-force participation, loose coupling, Marc Andreessen, Mark Zuckerberg, Marshall McLuhan, medical residency, Menlo Park, Mother of all demos, natural language processing, new economy, Norbert Wiener, PageRank, pattern recognition, pre–internet, RAND corporation, Ray Kurzweil, Richard Stallman, Robert Gordon, Rodney Brooks, Sand Hill Road, Second Machine Age, self-driving car, semantic web, shareholder value, side project, Silicon Valley, Silicon Valley startup, Singularitarianism, skunkworks, Skype, social software, speech recognition, stealth mode startup, Stephen Hawking, Steve Ballmer, Steve Jobs, Steve Wozniak, Steven Levy, Stewart Brand, strong AI, superintelligent machines, technological singularity, Ted Nelson, telemarketer, telepresence, telepresence robot, Tenerife airport disaster, The Coming Technological Singularity, the medium is the message, Thorstein Veblen, Turing test, Vannevar Bush, Vernor Vinge, Watson beat the top human players on Jeopardy!, Whole Earth Catalog, William Shockley: the traitorous eight, zero-sum game

Wiener, deeply attuned to the potential dire “social consequences,” had already unsuccessfully attempted to contact other unions, and his frustration came through clearly in the Reuther letter. By late 1942 it was clear to Wiener that a computer could be programmed to run a factory, and he worried about the ensuing consequences of an “assembly line without human agents.”3 Software had not yet become a force that, in the words of browser pioneer Marc Andreessen, would “eat the world,” but Wiener portrayed the trajectory clearly to Reuther. “The detailed development of the machine for particular industrial purpose is a very skilled task, but not a mechanical task,” he wrote. “It is done by what is called ‘taping’ the machine in the proper way, much as present computing machines are taped.”4 Today we call it “programming,” and software animates the economy and virtually every aspect of modern society.


pages: 510 words: 120,048

Who Owns the Future? by Jaron Lanier

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3D printing, 4chan, Affordable Care Act / Obamacare, Airbnb, augmented reality, automated trading system, barriers to entry, bitcoin, book scanning, Burning Man, call centre, carbon footprint, cloud computing, commoditize, computer age, crowdsourcing, David Brooks, David Graeber, delayed gratification, digital Maoism, Douglas Engelbart, en.wikipedia.org, Everything should be made as simple as possible, facts on the ground, Filter Bubble, financial deregulation, Fractional reserve banking, Francis Fukuyama: the end of history, George Akerlof, global supply chain, global village, Haight Ashbury, hive mind, if you build it, they will come, income inequality, informal economy, information asymmetry, invisible hand, Jacquard loom, Jaron Lanier, Jeff Bezos, job automation, John Markoff, Kevin Kelly, Khan Academy, Kickstarter, Kodak vs Instagram, life extension, Long Term Capital Management, Marc Andreessen, Mark Zuckerberg, meta analysis, meta-analysis, Metcalfe’s law, moral hazard, mutually assured destruction, Network effects, new economy, Norbert Wiener, obamacare, packet switching, Peter Thiel, place-making, Plutocrats, plutocrats, Ponzi scheme, post-oil, pre–internet, race to the bottom, Ray Kurzweil, rent-seeking, reversible computing, Richard Feynman, Richard Feynman, Ronald Reagan, self-driving car, side project, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, Skype, smart meter, stem cell, Steve Jobs, Steve Wozniak, Stewart Brand, Ted Nelson, The Market for Lemons, Thomas Malthus, too big to fail, trickle-down economics, Turing test, Vannevar Bush, WikiLeaks, zero-sum game

.* However, if it is a precedent to be repeated in transportation, manufacturing, medicine, education, and other major sectors, the overall economy will shrink, making capitalism a little less viable in the long term. Well, that’s a restatement of a core idea of this book, but at any rate this much can be said: * The portrayal of software as an insatiable gourmand is common in Silicon Valley. “Software Will Eat Everything” is the phrasing from a well-known essay by Web pioneer and tycoon Marc Andreessen. • By the time books have mostly gone digital, the owners of the top Internet servers that route readers, probably run by Silicon Valley companies, will be more powerful and richer than they were before. Some of these prospects appeal to me. My favorite is the potential for experiments merging books with apps, games, music, movies, virtual worlds, and all the other forms that can be sent over the ’net.


pages: 559 words: 155,372

Chaos Monkeys: Obscene Fortune and Random Failure in Silicon Valley by Antonio Garcia Martinez

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Airbnb, airport security, always be closing, Amazon Web Services, Burning Man, Celtic Tiger, centralized clearinghouse, cognitive dissonance, collective bargaining, corporate governance, Credit Default Swap, crowdsourcing, death of newspapers, drone strike, El Camino Real, Elon Musk, Emanuel Derman, financial independence, global supply chain, Goldman Sachs: Vampire Squid, hive mind, income inequality, information asymmetry, interest rate swap, intermodal, Jeff Bezos, Malcom McLean invented shipping containers, Marc Andreessen, Mark Zuckerberg, Maui Hawaii, means of production, Menlo Park, minimum viable product, move fast and break things, move fast and break things, Network effects, Paul Graham, performance metric, Peter Thiel, Ponzi scheme, pre–internet, Ralph Waldo Emerson, random walk, Ruby on Rails, Sand Hill Road, Scientific racism, second-price auction, self-driving car, Silicon Valley, Silicon Valley startup, Skype, Snapchat, social graph, social web, Socratic dialogue, source of truth, Steve Jobs, telemarketer, urban renewal, Y Combinator, zero-sum game, éminence grise

The key insight here is that what happened with SLK wasn’t some exceptional niche piece of technological innovation, but a harbinger of what would happen to the entire world. In the future, anywhere nontrivial decisions took place, it would be computers talking to one another, with humans involved only in the writing of the logic itself. Finance saw the innovation first, because the stakes were high, and the value of an incremental computational advantage was very large. To paraphrase the very quotable Silicon Valley venture capitalist Marc Andreessen, in the future there will be two types of jobs: people who tell computers what to do, and people who are told by computers what to do. Wall Street was merely the first inkling. The next place where this shift would be seen at whopping scale in terms of both money and technology (though I didn’t realize at the time) was in Internet advertising. And after that, it would hit transportation (Uber), hostelry (Airbnb), food delivery (Instacart), and so on.

The America That Reagan Built by J. David Woodard

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affirmative action, anti-communist, Ayatollah Khomeini, Berlin Wall, Bonfire of the Vanities, colonial rule, Columbine, corporate raider, cuban missile crisis, Deng Xiaoping, friendly fire, glass ceiling, global village, Gordon Gekko, gun show loophole, income inequality, invisible hand, Jeff Bezos, laissez-faire capitalism, late capitalism, Live Aid, Marc Andreessen, Mikhail Gorbachev, mutually assured destruction, Neil Kinnock, new economy, postindustrial economy, Ralph Nader, Robert Bork, Ronald Reagan, Ronald Reagan: Tear down this wall, Rubik’s Cube, Silicon Valley, South China Sea, stem cell, Ted Kaczynski, The Predators' Ball, trickle-down economics, women in the workforce, Y2K, young professional

The structure of the domestic economy changed as agriculture shrank in importance, and the country continued to move from industrial manufacturing to the new information society. The most celebrated tales were of the new entrepreneurs and bold risk-taking venture capitalists who became the richest of the very rich in the information age. Young computer ‘‘geeks’’ and ‘‘nerds’’ enjoyed celebrity status and luxuriant lifestyles beyond their wildest dreams. For example, at age twenty-four Marc Andreessen left the University of Illinois’s National Center for Supercomputing Applications to go west to Silicon Valley. He was soon worth $130 million. In the daily press, stories from the California economic wonderland were told over and over: of a six-month waiting list for new Porsches at the car dealership, of a survey showing that sixty-four millionaires were being created each day in Silicon Valley, and of the new executives who paid an additional million dollars beyond the $2.4 million asking price for a house.


pages: 624 words: 127,987

The Personal MBA: A World-Class Business Education in a Single Volume by Josh Kaufman

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Albert Einstein, Atul Gawande, Black Swan, business process, buy low sell high, capital asset pricing model, Checklist Manifesto, cognitive bias, correlation does not imply causation, Credit Default Swap, Daniel Kahneman / Amos Tversky, David Heinemeier Hansson, David Ricardo: comparative advantage, Dean Kamen, delayed gratification, discounted cash flows, Donald Knuth, double entry bookkeeping, Douglas Hofstadter, en.wikipedia.org, Frederick Winslow Taylor, George Santayana, Gödel, Escher, Bach, high net worth, hindsight bias, index card, inventory management, iterative process, job satisfaction, Johann Wolfgang von Goethe, Kevin Kelly, Lao Tzu, loose coupling, loss aversion, Marc Andreessen, market bubble, Network effects, Parkinson's law, Paul Buchheit, Paul Graham, place-making, premature optimization, Ralph Waldo Emerson, rent control, side project, statistical model, stealth mode startup, Steve Jobs, Steve Wozniak, subscription business, telemarketer, the scientific method, time value of money, Toyota Production System, tulip mania, Upton Sinclair, Vilfredo Pareto, Walter Mischel, Y Combinator, Yogi Berra

Any skill or knowledge that helps you create value, market, sell, deliver value, or manage finances is Economically Valuable—accordingly, these are the topics we’ll discuss in this book. SHARE THIS CONCEPT: http://book.personalmba.com/economically-valuable-skills/ The Iron Law of the Market Market matters most; neither a stellar team nor fantastic product will redeem a bad market. Markets that don’t exist don’t care how smart you are. —MARC ANDREESSEN, VENTURE CAPITALIST AND FOUNDER OF NETSCAPE AND NING.COM What if you throw a party and nobody shows up? In business, it happens all the time. Dean Kamen, a renowned and prolific inventor whose creations include the Sterling engine, the world’s first insulin pump, and water purification devices, poured over $100 million into the development of the Segway PT, a $5,000, two-wheeled, self-balancing scooter that he claimed would revolutionize personal transportation “in the same way that the car replaced the horse and buggy.”


pages: 411 words: 114,717

Breakout Nations: In Pursuit of the Next Economic Miracles by Ruchir Sharma

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3D printing, affirmative action, Albert Einstein, American energy revolution, anti-communist, Asian financial crisis, banking crisis, Berlin Wall, BRICs, British Empire, business climate, business process, business process outsourcing, call centre, capital controls, Carmen Reinhart, central bank independence, centre right, cloud computing, collective bargaining, colonial rule, corporate governance, creative destruction, crony capitalism, deindustrialization, demographic dividend, Deng Xiaoping, eurozone crisis, Gini coefficient, global supply chain, housing crisis, income inequality, indoor plumbing, inflation targeting, informal economy, Kenneth Rogoff, knowledge economy, labor-force participation, labour market flexibility, land reform, M-Pesa, Mahatma Gandhi, Marc Andreessen, market bubble, mass immigration, megacity, Mexican peso crisis / tequila crisis, new economy, oil shale / tar sands, oil shock, open economy, Peter Thiel, planetary scale, quantitative easing, reserve currency, Robert Gordon, Shenzhen was a fishing village, Silicon Valley, software is eating the world, sovereign wealth fund, The Great Moderation, Thomas L Friedman, trade liberalization, Watson beat the top human players on Jeopardy!, working-age population, zero-sum game

While Apple employs fifty thousand people and has a market capitalization that has risen fivefold over the last five years, the Taiwan companies that make gadgets for Apple employ millions but have seen their stock prices stagnate for lack of pricing power. The hardware is easy to replicate, which in turn cuts profit margins, while the software is highly profitable so long as it continues to evolve. Netscape founder Marc Andreessen has argued, in a Wall Street Journal essay called “Why Software Is Eating the World,” that two decades after the invention of the modern Internet, and a decade after the collapse of the Internet bubble, the software industry is at last reaching critical mass. The technology required to transform industries through software finally works and is accessible. Two billion people have access to broadband, and by the end of the decade, Andreessen predicts, five billion will have access to the Internet through smart phones.

The Future of Technology by Tom Standage

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air freight, barriers to entry, business process, business process outsourcing, call centre, Clayton Christensen, computer vision, connected car, corporate governance, creative destruction, disintermediation, distributed generation, double helix, experimental economics, full employment, hydrogen economy, industrial robot, informal economy, information asymmetry, interchangeable parts, job satisfaction, labour market flexibility, Marc Andreessen, market design, Menlo Park, millennium bug, moral hazard, natural language processing, Network effects, new economy, Nicholas Carr, optical character recognition, railway mania, rent-seeking, RFID, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, six sigma, Skype, smart grid, software as a service, spectrum auction, speech recognition, stem cell, Steve Ballmer, technology bubble, telemarketer, transcontinental railway, Y2K

Potential lovers could no longer do a quick background check on their next date. And college professors would need a new tool to find out whether a student had quietly lifted a paper from the internet. Yet many it firms would not be too unhappy if Google were to disappear. They certainly dislike the company’s message to the world: you do not need the latest and greatest in technology to offer outstanding services. In the words of Marc Andreessen of Netscape fame, now chief executive of Opsware, a software start-up: “Except applications and services, everything and anything in computing will soon become a commodity.” Exactly what is meant by “commoditisation”, though, depends on whom you talk to. It is most commonly applied to the pc industry. Although desktops and laptops are not a truly interchangeable commodity such as crude oil, the logo on a machine has not really mattered for years now.


The Blockchain Alternative: Rethinking Macroeconomic Policy and Economic Theory by Kariappa Bheemaiah

accounting loophole / creative accounting, Ada Lovelace, Airbnb, algorithmic trading, asset allocation, autonomous vehicles, balance sheet recession, bank run, banks create money, Basel III, basic income, Ben Bernanke: helicopter money, bitcoin, blockchain, Bretton Woods, business process, call centre, capital controls, Capital in the Twenty-First Century by Thomas Piketty, cashless society, cellular automata, central bank independence, Claude Shannon: information theory, cloud computing, cognitive dissonance, collateralized debt obligation, commoditize, complexity theory, constrained optimization, corporate governance, creative destruction, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, crowdsourcing, cryptocurrency, David Graeber, deskilling, Diane Coyle, discrete time, distributed ledger, diversification, double entry bookkeeping, ethereum blockchain, fiat currency, financial innovation, financial intermediation, Flash crash, floating exchange rates, Fractional reserve banking, full employment, George Akerlof, illegal immigration, income inequality, income per capita, inflation targeting, information asymmetry, interest rate derivative, inventory management, invisible hand, John Maynard Keynes: technological unemployment, John von Neumann, joint-stock company, Joseph Schumpeter, Kenneth Arrow, Kenneth Rogoff, Kevin Kelly, knowledge economy, labour market flexibility, large denomination, liquidity trap, London Whale, low skilled workers, M-Pesa, Marc Andreessen, market bubble, market fundamentalism, Mexican peso crisis / tequila crisis, money market fund, money: store of value / unit of account / medium of exchange, mortgage debt, natural language processing, Network effects, new economy, Nikolai Kondratiev, offshore financial centre, packet switching, Pareto efficiency, pattern recognition, peer-to-peer lending, Ponzi scheme, precariat, pre–internet, price mechanism, price stability, private sector deleveraging, profit maximization, QR code, quantitative easing, quantitative trading / quantitative finance, Ray Kurzweil, Real Time Gross Settlement, rent control, rent-seeking, Satoshi Nakamoto, Satyajit Das, savings glut, seigniorage, Silicon Valley, Skype, smart contracts, software as a service, software is eating the world, speech recognition, statistical model, Stephen Hawking, supply-chain management, technology bubble, The Chicago School, The Future of Employment, The Great Moderation, the market place, The Nature of the Firm, the payments system, the scientific method, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, too big to fail, trade liberalization, transaction costs, Turing machine, Turing test, universal basic income, Von Neumann architecture, Washington Consensus

By using code to perform repetitive tasks, software allows for largescale automation of tasks that were previously the domain of skilled workers. In the past, technological evolution posed threats to manual jobs. But as machine learning, neural nets, and AI continue to make significant and rapid strides, the threat is now faced by skilled personnel who were employed to perform cognitive tasks (Refer to Sidebar 3-1). As Marc Andreessen said, “Software is eating the world.” Today, software is increasingly 84 Chapter 3 ■ Innovating Capitalism threatening anyone whose job function involves a repetitive framework. With automation and financialization posing the biggest risks to industrialized economies, policies are needed that address the changes in productivity gains. Hence, it must be understood by policy makers that we have an ailing self-organized society that needs more direction in order to combat and adapt to the future technological changes.


pages: 1,201 words: 233,519

Coders at Work by Peter Seibel

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Ada Lovelace, bioinformatics, cloud computing, Conway's Game of Life, domain-specific language, don't repeat yourself, Donald Knuth, fault tolerance, Fermat's Last Theorem, Firefox, George Gilder, glass ceiling, Guido van Rossum, HyperCard, information retrieval, Larry Wall, loose coupling, Marc Andreessen, Menlo Park, Metcalfe's law, Perl 6, premature optimization, publish or perish, random walk, revision control, Richard Stallman, rolodex, Ruby on Rails, Saturday Night Live, side project, slashdot, speech recognition, the scientific method, Therac-25, Turing complete, Turing machine, Turing test, type inference, Valgrind, web application

And no amount of coding on my part is going to get them out of that mindset. So they're like, “I expected this to launch in half a second and it's taking 14 seconds. That's ridiculous. I can't use this.” Seibel: Why did you leave Lucid? Zawinski: Lucid was done. There'd been a bunch of layoffs. I sent mail to a bunch of people I know saying, “Hey, looks like I'm going to need a new job soon” and one of those people was Marc Andreessen and he said, “Oh, funny you should mention that, because we just started a company last week.” And that was that. Seibel: So you went to Netscape. What did you work on there? Zawinski: I pretty much started right away doing the Unix side of the browser. There had been maybe a few days' worth of code written on it so far. A little bit more of the Windows and Mac sides had been started. The model was a big pile of back-end code and then as small as possible a piece of front-end code for each of the three platforms.


pages: 580 words: 168,476

The Price of Inequality: How Today's Divided Society Endangers Our Future by Joseph E. Stiglitz

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affirmative action, Affordable Care Act / Obamacare, airline deregulation, Andrei Shleifer, banking crisis, barriers to entry, Basel III, battle of ideas, Berlin Wall, capital controls, Carmen Reinhart, Cass Sunstein, central bank independence, collapse of Lehman Brothers, collective bargaining, colonial rule, corporate governance, Credit Default Swap, Daniel Kahneman / Amos Tversky, Dava Sobel, declining real wages, deskilling, Exxon Valdez, Fall of the Berlin Wall, financial deregulation, financial innovation, Flash crash, framing effect, full employment, George Akerlof, Gini coefficient, income inequality, income per capita, indoor plumbing, inflation targeting, information asymmetry, invisible hand, jobless men, John Harrison: Longitude, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, Kenneth Arrow, Kenneth Rogoff, labour market flexibility, London Interbank Offered Rate, lone genius, low skilled workers, Marc Andreessen, Mark Zuckerberg, market bubble, market fundamentalism, mass incarceration, medical bankruptcy, microcredit, moral hazard, mortgage tax deduction, negative equity, obamacare, offshore financial centre, paper trading, Pareto efficiency, patent troll, Paul Samuelson, payday loans, price stability, profit maximization, profit motive, purchasing power parity, race to the bottom, rent-seeking, reserve currency, Richard Thaler, Robert Shiller, Robert Shiller, Ronald Coase, Ronald Reagan, shareholder value, short selling, Silicon Valley, Simon Kuznets, spectrum auction, Steve Jobs, technology bubble, The Chicago School, The Fortune at the Bottom of the Pyramid, The Myth of the Rational Market, The Spirit Level, The Wealth of Nations by Adam Smith, too big to fail, trade liberalization, transaction costs, trickle-down economics, ultimatum game, uranium enrichment, very high income, We are the 99%, wealth creators, women in the workforce, zero-sum game

The Department of Justice brought a case against American Airlines in the early years of this century. I thought the evidence that American Airlines had engaged in predatory behavior was especially compelling, but the judge didn’t need to look at the evidence: the Supreme Court had ruled that there was just too strong a presumption against the existence of predatory pricing to make prosecution possible. 35. One of Netscape’s founders, Marc Andreessen, was part of the team at the University of Illinois at Urbana-Champaign that developed Mosaic, the first widely used web browser, which was a project of the university’s National Center for Supercomputing Applications (one of the original sites of the National Science Foundation’s Supercomputer Centers Program). See the website of the NCSA, http://www.ncsa.illinois.edu/Projects/mosaic.html (accessed March 3, 2012); and John Markoff, “New Venture in Cyberspace by Silicon Graphics Founder,” New York Times, May 7, 1994, available at http://www.nytimes.com/1994/05/07/business/new-venture-in-cyberspace-by-silicon-graphics-founder.html?


pages: 651 words: 180,162

Antifragile: Things That Gain From Disorder by Nassim Nicholas Taleb

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Air France Flight 447, Andrei Shleifer, banking crisis, Benoit Mandelbrot, Berlin Wall, Black Swan, Chuck Templeton: OpenTable, commoditize, creative destruction, credit crunch, Daniel Kahneman / Amos Tversky, David Ricardo: comparative advantage, discrete time, double entry bookkeeping, Emanuel Derman, epigenetics, financial independence, Flash crash, Gary Taubes, George Santayana, Gini coefficient, Henri Poincaré, high net worth, hygiene hypothesis, Ignaz Semmelweis: hand washing, informal economy, invention of the wheel, invisible hand, Isaac Newton, James Hargreaves, Jane Jacobs, joint-stock company, joint-stock limited liability company, Joseph Schumpeter, Kenneth Arrow, knowledge economy, Lao Tzu, Long Term Capital Management, loss aversion, Louis Pasteur, mandelbrot fractal, Marc Andreessen, meta analysis, meta-analysis, microbiome, money market fund, moral hazard, mouse model, Myron Scholes, Norbert Wiener, pattern recognition, Paul Samuelson, placebo effect, Ponzi scheme, principal–agent problem, purchasing power parity, quantitative trading / quantitative finance, Ralph Nader, random walk, Ray Kurzweil, rent control, Republic of Letters, Ronald Reagan, Rory Sutherland, selection bias, Silicon Valley, six sigma, spinning jenny, statistical model, Steve Jobs, Steven Pinker, Stewart Brand, stochastic process, stochastic volatility, The Great Moderation, the new new thing, The Wealth of Nations by Adam Smith, Thomas Bayes, Thomas Malthus, too big to fail, transaction costs, urban planning, Vilfredo Pareto, Yogi Berra, Zipf's Law

To Fail Seven Times, Plus or Minus Two Let me stop to issue rules based on the chapter so far. (i) Look for optionality; in fact, rank things according to optionality, (ii) preferably with open-ended, not closed-ended, payoffs; (iii) Do not invest in business plans but in people, so look for someone capable of changing six or seven times over his career, or more (an idea that is part of the modus operandi of the venture capitalist Marc Andreessen); one gets immunity from the backfit narratives of the business plan by investing in people. It is simply more robust to do so; (iv) Make sure you are barbelled, whatever that means in your business. THE CHARLATAN, THE ACADEMIC, AND THE SHOWMAN I end the chapter on a sad note: our ingratitude toward many who have helped us get here—letting our ancestors survive. Our misunderstanding of convex tinkering, antifragility, and how to tame randomness is woven into our institutions—though not consciously and explicitly.


pages: 559 words: 169,094

The Unwinding: An Inner History of the New America by George Packer

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Affordable Care Act / Obamacare, Apple's 1984 Super Bowl advert, bank run, big-box store, citizen journalism, cleantech, collateralized debt obligation, collective bargaining, corporate raider, Credit Default Swap, credit default swaps / collateralized debt obligations, deindustrialization, diversified portfolio, East Village, El Camino Real, Elon Musk, family office, financial independence, financial innovation, fixed income, Flash crash, Henry Ford's grandson gave labor union leader Walter Reuther a tour of the company’s new, automated factory…, housing crisis, income inequality, informal economy, Jane Jacobs, life extension, Long Term Capital Management, low skilled workers, Marc Andreessen, margin call, Mark Zuckerberg, market bubble, market fundamentalism, Maui Hawaii, Menlo Park, Neil Kinnock, new economy, New Journalism, obamacare, Occupy movement, oil shock, peak oil, Peter Thiel, Ponzi scheme, Richard Florida, Robert Bork, Ronald Reagan, Ronald Reagan: Tear down this wall, shareholder value, side project, Silicon Valley, Silicon Valley startup, single-payer health, smart grid, Steve Jobs, strikebreaker, The Death and Life of Great American Cities, the scientific method, too big to fail, union organizing, urban planning, We are the 99%, We wanted flying cars, instead we got 140 characters, white flight, white picket fence, zero-sum game

But none of the newer ones had been as important as Hewlett-Packard, Intel, or Apple. In the years since the Macintosh, the computer industry had seen more consolidation than innovation, and the undisputed winner was in Seattle. The most important Silicon Valley company to come along since Apple was originally called Mosaic, started in 1994 by Jim Clark, a former Stanford professor and founder of Silicon Graphics, and Marc Andreessen, a University of Illinois graduate who, at twenty-two, had just the year before developed the first graphical browser for the World Wide Web. In 1995, the year that the last restrictions on commercial use of the Internet were lifted, their company went public as Netscape, headquartered south of Stanford in Mountain View. Its breakthrough product was a Web browser called Netscape Navigator. Over the next five months, while the company remained unprofitable, Netscape’s stock rose tenfold.


Martin Kleppmann-Designing Data-Intensive Applications. The Big Ideas Behind Reliable, Scalable and Maintainable Systems-O’Reilly (2017) by Unknown

active measures, Amazon Web Services, bitcoin, blockchain, business intelligence, business process, c2.com, cloud computing, collaborative editing, commoditize, conceptual framework, cryptocurrency, database schema, DevOps, distributed ledger, Donald Knuth, Edward Snowden, ethereum blockchain, fault tolerance, finite state, Flash crash, full text search, general-purpose programming language, informal economy, information retrieval, Internet of things, iterative process, John von Neumann, loose coupling, Marc Andreessen, natural language processing, Network effects, packet switching, peer-to-peer, performance metric, place-making, premature optimization, recommendation engine, Richard Feynman, Richard Feynman, self-driving car, semantic web, Shoshana Zuboff, social graph, social web, software as a service, software is eating the world, sorting algorithm, source of truth, SPARQL, speech recognition, statistical model, web application, WebSocket, wikimedia commons

ISBN: 978-0-553-41881-1 [88] Julia Angwin: “Make Algorithms Accountable,” nytimes.com, August 1, 2016. [89] Bryce Goodman and Seth Flaxman: “European Union Regulations on Algorith‐ mic Decision-Making and a ‘Right to Explanation’,” arXiv:1606.08813, August 31, 2016. [90] “A Review of the Data Broker Industry: Collection, Use, and Sale of Consumer Data for Marketing Purposes,” Staff Report, United States Senate Committee on Com‐ merce, Science, and Transportation, commerce.senate.gov, December 2013. [91] Olivia Solon: “Facebook’s Failure: Did Fake News and Polarized Politics Get Trump Elected?” theguardian.com, November 10, 2016. [92] Donella H. Meadows and Diana Wright: Thinking in Systems: A Primer. Chelsea Green Publishing, 2008. ISBN: 978-1-603-58055-7 550 | Chapter 12: The Future of Data Systems [93] Daniel J. Bernstein: “Listening to a ‘big data’/‘data science’ talk,” twitter.com, May 12, 2015. [94] Marc Andreessen: “Why Software Is Eating the World,” The Wall Street Journal, 20 August 2011. [95] J. M. Porup: “‘Internet of Things’ Security Is Hilariously Broken and Getting Worse,” arstechnica.com, January 23, 2016. [96] Bruce Schneier: Data and Goliath: The Hidden Battles to Collect Your Data and Control Your World. W. W. Norton, 2015. ISBN: 978-0-393-35217-7 [97] The Grugq: “Nothing to Hide,” grugq.tumblr.com, April 15, 2016. [98] Tony Beltramelli: “Deep-Spying: Spying Using Smartwatch and Deep Learning,” Masters Thesis, IT University of Copenhagen, December 2015.


pages: 757 words: 193,541

The Practice of Cloud System Administration: DevOps and SRE Practices for Web Services, Volume 2 by Thomas A. Limoncelli, Strata R. Chalup, Christina J. Hogan

active measures, Amazon Web Services, anti-pattern, barriers to entry, business process, cloud computing, commoditize, continuous integration, correlation coefficient, database schema, Debian, defense in depth, delayed gratification, DevOps, domain-specific language, en.wikipedia.org, fault tolerance, finite state, Firefox, Google Glasses, information asymmetry, Infrastructure as a Service, intermodal, Internet of things, job automation, job satisfaction, load shedding, loose coupling, Malcom McLean invented shipping containers, Marc Andreessen, place-making, platform as a service, premature optimization, recommendation engine, revision control, risk tolerance, side project, Silicon Valley, software as a service, sorting algorithm, statistical model, Steven Levy, supply-chain management, Toyota Production System, web application, Yogi Berra

This empowers developers to do their own operations. The SREs build tools that are specifically engineered to make it easy to achieve high-quality results without advanced knowledge. DevOps is rapidly expanding from a niche technique for running web sites to something that can also be applied to enterprise and industrial system administration. There is nothing uniquely web-centric about DevOps. Marc Andreessen famously said, “Software eats the world” (Anderson 2012). As this happens, all facets of society will require well-run operations. Thus, DevOps will be applied to all facets of computing. 8.4 DevOps Values and Principles DevOps can be divided into roughly four main areas of practice (Kartar 2010): • Relationships • Integration • Automation • Continuous improvement 8.4.1 Relationships In a traditional environment, the tools and scripts are seen as the primary focus of operational maintenance.

The Dream Machine: J.C.R. Licklider and the Revolution That Made Computing Personal by M. Mitchell Waldrop

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Ada Lovelace, air freight, Alan Turing: On Computable Numbers, with an Application to the Entscheidungsproblem, Albert Einstein, anti-communist, Apple II, battle of ideas, Berlin Wall, Bill Duvall, Bill Gates: Altair 8800, Byte Shop, Claude Shannon: information theory, computer age, conceptual framework, cuban missile crisis, Donald Davies, double helix, Douglas Engelbart, Douglas Engelbart, Dynabook, experimental subject, fault tolerance, Frederick Winslow Taylor, friendly fire, From Mathematics to the Technologies of Life and Death, Haight Ashbury, Howard Rheingold, information retrieval, invisible hand, Isaac Newton, James Watt: steam engine, Jeff Rulifson, John von Neumann, Leonard Kleinrock, Marc Andreessen, Menlo Park, New Journalism, Norbert Wiener, packet switching, pink-collar, popular electronics, RAND corporation, RFC: Request For Comment, Robert Metcalfe, Silicon Valley, Steve Crocker, Steve Jobs, Steve Wozniak, Steven Levy, Stewart Brand, Ted Nelson, Turing machine, Turing test, Vannevar Bush, Von Neumann architecture, Wiener process, zero-sum game

On the last leg toward home, Lick seemed to be in a nostalgic, sentimental mood, as if he were very far away. "It was unusual for him to be that far back in ::- Writing a new browser wasn't especially hard, once you knew how. And by 1992 or so, as the Web became more popular, computer-science grad students all over the world were dOIng it as a way of exercising their programming skills. Take Marc Andreessen, for example, a grad student at the University of Illinois's National Center for Supercomputing Applications, one of the NSF's supercomputer centers. Along with staff member Eric Bina, he created a browser for X-Windows, the Unix graphical interface. Mosaic, as they called it, wasn't really any better than anybody else's browser, at least at first. But Andreessen, far more than any other of his contemporaries, listened to the users.


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The Last Tycoons: The Secret History of Lazard Frères & Co. by William D. Cohan

activist fund / activist shareholder / activist investor, bank run, carried interest, cognitive dissonance, commoditize, computer age, corporate governance, corporate raider, creative destruction, credit crunch, diversification, Donald Trump, East Village, fear of failure, fixed income, hiring and firing, interest rate swap, intermodal, Joseph Schumpeter, late fees, Long Term Capital Management, Marc Andreessen, market bubble, offshore financial centre, Ponzi scheme, Ralph Nader, Ralph Waldo Emerson, rolodex, Ronald Reagan, shareholder value, The Nature of the Firm, the new new thing, Yogi Berra

He and his three partners committed to invest a minimum of $20 million in the fund, and certain of their family members agreed to invest another $10 million. Although the investor list is private, TALK magazine speculated it included the likes of Steve Case, Mort Zuckerman, Arthur Sulzberger Jr., Michael Ovitz, Andrew Heyward, Alex Mandl, Steve Brill, Lorne Michaels, and Harvey Weinstein. The Quadrangle Group advisory board consists of Marc Andreessen, Barry Diller, Amos Hostetter, Craig McCaw, and Rob Glaser--all of whom have put money into the fund (as have I, in full disclosure). Like most other private-equity funds, Quadrangle investors pay to the general partners--Rattner et al.--a fee of 1.75 percent per year, payable quarterly in advance, of the money committed to the fund. Put simply, as is typical in the buyout industry, Steve's friends and investors are paying him and his colleagues close to $20 million per year to invest their money, and then paying even more if and when the profits on the investments roll in.