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All the Money in the World by Peter W. Bernstein
Albert Einstein, anti-communist, Berlin Wall, Bill Gates: Altair 8800, call centre, Charles Lindbergh, 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
In the audience was a pantheon of the world’s biggest wealth creators, more than one hundred entrepreneurs from nearly forty countries. It was all the more impressive, then, that Huizenga, a college dropout who started his business with one used garbage truck, was the man standing in front of them. Think of Forbes 400 members5 and what comes to mind are tycoons such as computer titan Michael Dell, America Online’s Steve Case, eBay’s Pierre Omidyar, and Qualcomm’s Irwin Jacobs—all former winners of Ernst & Young awards, all high-tech billionaires who made fortunes on flashy, brainy businesses. Then there are the media mavens—Rupert Murdoch, Barry Diller, David Geffen—whose boldface names appear regularly in the papers. Huizenga’s fortune, by contrast, derives from a patchwork of low-tech, low-visibility, low-prestige ventures: trash hauling, video rentals, auto sales.
. $0.9 $2.6 Oil, banking Arts, environment Michael & Bloomberg $0.88 $5.3 Bloomberg LP Arts, education, health care Paul Allen $0.87 $16.0 Microsoft Science education, research Bernard Osher $0.8 $0.9('05) Banking Arts, education, medicine Larry Ellison $0.79 $19.5 Oracle Health research John Kluge $0.75 $9.1 Metromedia Libraries George kaiser $0.72 $8.5 Oil, gas Antipoverty Kirk Kerkorian $0.7 $9.0 Investments Humanitarian Bernard Marcus $0.65 $1.9 Home Depot Brain disorders Irwin & Joan Jacobs $0.58 $1.7 Qualcomm Culture Pierre & Pam Omidyar $0.58 $7.7 eBay Microfinance investing Shelby White** $0.5 $0.75('02) Investments Arts, humanities H.F. & Marguerite Lenfest $0.47 $0.8('04) Cable Higher education, arts Thomas Monaghan $0.47 $0.45 Domino's Catholic higher education Frank Sr.& Jane Batten $0.4 $1.4 Landmark Education, Child development Peter Lewis $0.4 $1.4 Progressive Corp. Arts, education, social services David & Cheryl Duffield $0.33 $1.2 PeopleSoft Animal welfare Oprah Winfrey $0.3 $1.5 Media Education for women & children T.Boone Pickens $0.3 $2.7 Energy Higher education, athletics David Geffen $0.27 $4.6 Media Higher education, medicine Frances Comer*** $0.26 $1.0 Lands' End Environment, scientific research James Simons $0.26 $4.0 Hedge funds Science & math education Cherlas & Helen Schwab $0.23 $4.6 Brokerage Childhood learning, social issues George Lucus $0.21 $3.6 Films Education, film school Dan L.Duncan $0.16 $7.5 Energy Higher education, health * * * * * * Global Giving, the Gates Way With more than $30 billion in assets, the Bill and Melinda Gates Foundation towers over the philanthropic world.
Gates has spent $1 billion so far in scholarships to high-school graduates and $1.2 billion to improve high schools, largely by creating some fifteen hundred small high schools in forty states and Washington, D.C. The currently popular notion that small schools perform better than large ones has galvanized the foundations of many other Forbes 400 members, including those of Dell’s Michael and Susan Dell; Wal-Mart’s Walton family; Jerri-Ann and Gary Jacobs (son of Qualcomm founder, Irwin Jacobs); Donald and Doris Fisher, founders of retailer the Gap; and others. But results of spending30 to create smaller schools remain mixed. Graduation rates are up somewhat, according to the Gates Foundation, but math scores are “on par with or lagging behind other schools” in their districts, and—just as the Annenberg Challenge found—duplicating successes is a challenge. The Gateses openly discuss their difficulties and setbacks and say they are learning from them.
Fortunes of Change: The Rise of the Liberal Rich and the Remaking of America by David Callahan
affirmative action, Albert Einstein, American Legislative Exchange Council, automated trading system, Bernie Sanders, Bonfire of the Vanities, carbon footprint, carried interest, clean water, corporate social responsibility, David Brooks, demographic transition, desegregation, don't be evil, Donald Trump, Douglas Engelbart, Douglas Engelbart, Edward Thorp, financial deregulation, financial independence, global village, Gordon Gekko, greed is good, high net worth, income inequality, Irwin Jacobs: Qualcomm, Jeff Bezos, John Markoff, Kickstarter, knowledge economy, knowledge worker, Marc Andreessen, Mark Zuckerberg, market fundamentalism, medical malpractice, mega-rich, Mitch Kapor, Naomi Klein, NetJets, new economy, offshore financial centre, Peter Thiel, plutocrats, Plutocrats, profit maximization, quantitative trading / quantitative ﬁnance, Ralph Nader, Renaissance Technologies, Richard Florida, Robert Bork, rolodex, Ronald Reagan, school vouchers, short selling, Silicon Valley, Social Responsibility of Business Is to Increase Its Profits, stem cell, Steve Ballmer, Steve Jobs, unpaid internship, Upton Sinclair, Vanguard fund, War on Poverty, working poor, World Values Survey
Beyond staggering new investments in environmental philanthropy, the rich are spending unprecedented sums on political campaigns to further green causes. In 2006, for example, Steve Bing spent $49.6 million backing Proposition 87. This stands as the largest amount of money that any individual has ever spent on a ballot campaign. The campaign also attracted financial support from Google’s cofounders and CEO; Gap chairman Robert Fisher; Nathaniel Simons, the son of hedge fund manager James Simons; Jeff Skoll; Qualcomm chairman Irwin Jacobs; Warner Bros. president Alan Horn; and John Doerr. The effort failed, but that didn’t stop another super-rich environmentalist from backing another clean energy ballot initiative two years later, in 2008. This time, the money came from Peter Sperling, the billionaire son of John Sperling, who made the family fortune in for-profit education by founding the University of Phoenix. (The elder Sperling, also a liberal, has spent heavily on ballot campaigns to decriminalize marijuana.)
Google’s cofounders made their largest political contributions ever when they each gave $1 million to help sway Californians to vote for the initiative. Schmidt’s wife, Wendy, also put $1 million into the campaign. Other Silicon Valley heavyweights kicked in as well, including Terry Semel, then the CEO of Yahoo; the venture capitalist John Doerr; the billionaire and Sun Microsystems cofounder Vinod Khosla; Jeff Skoll, the cofounder of eBay; and Irwin Jacobs, the chairman of Qualcomm. c08.indd 188 5/11/10 6:24:55 AM left-coast money 189 Proposition 87 didn’t fly with voters, but serious Silicon Valley money has continued to flow into environmental causes. Eric and Wendy Schmidt have sunk millions of dollars into groups such as the Natural Resources Defense Council and the Energy Foundation, while Intel cofounder Gordon Moore—as already discussed—is emerging as one of the biggest environmental philanthropists of all time.
Thank You for Being Late: An Optimist's Guide to Thriving in the Age of Accelerations by Thomas L. Friedman
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 cycle, 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 pandemic, 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, Nelson Mandela, 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, The Rise and Fall of American Growth, Thomas L Friedman, transaction costs, Transnistria, uber lyft, undersea cable, urban decay, urban planning, Watson beat the top human players on Jeopardy!, WikiLeaks, women in the workforce, Y2K, Yogi Berra, zero-sum game
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. And all you have to do is walk through Qualcomm’s museum at its San Diego headquarters and see its first mobile phone—basically a small suitcase with a phone on it made in 1988—to appreciate the Moore’s law journey it’s been on.
They also introduced me to the best ribs in Arkansas. I am deeply indebted to Doug Cutting from Hadoop and Chris Wanstrath from GitHub for patiently walking me through the evolution of both of their companies and ensuring that I got every fact right. It took multiple visits and follow-ups with both for me to fully understand what they had each helped to create, and I am extremely grateful for their tutoring. Qualcomm’s cofounder Irwin Jacobs did the same on my two visits to his campus. He, his son Paul, and their whole team were enormously generous with their time. I owe a particular thanks to Joe Schuman and Nate Tibbits from Qualcomm for going the extra mile. Gidi Grinstein literally spent hours with me sharing his impressive work on strengthening communities in Israel. Gidi is a special thinker and a wonderful friend, and his ideas on community have influenced me a lot.
Frommer's Portable San Diego by Mark Hiss
The annual highlight is SummerFest, a 3-week series of concerts, forums, open rehearsals, talks, and artist encounters—it’s held in August. At Sher- La Jolla Music Society wood Auditorium, 700 Prospect St., La Jolla. Tickets $20–$95. & 858/459-3728. www.ljms.org. San Diego Symphony In 2002, enduring financial stability arrived for the San Diego Symphony with the announcement of a $120-million bequest by Joan and Irwin Jacobs (founder and CEO of Qualcomm). The gift has allowed the organization to lure top talent, including music director Jahja Ling and principal pops conductor Marvin Hamlisch. The symphony’s home is the former Fox Theatre, a 1929-era French rococo-style downtown landmark, restored and now known as Copley Symphony Hall. The season runs October through May; a Summer Pops series, with programs devoted to big band, Broadway, and Tchaikovsky, is held weekends from July to early September on the Embarcadero. 750 B St., at Seventh Ave. & 619/235-0804. www.sandiegosymphony.com.
Television disrupted: the transition from network to networked TV by Shelly Palmer
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
PVR See Digital Video Recorder. QAM Quadrature amplitude modulation (QAM) is the encoding of information into a carrier wave by variation of the amplitude of both the carrier wave and a ‘quadrature’ carrier that is 90° out of phase with the main carrier in accordance with two input signals. QOS Quality of Service Qualcomm Qualcomm is a wireless telecommunications research and development company based in San Diego, California. It was founded in 1985 by Irwin Jacobs and Andrew Viterbi, who previously founded Linkabit. Quicktime A digital video file format developed by Apple. It is often used for short, small segments, and can be played on both Macin-toshes and PCs. QuickTime has been named as the underlying format for the MPEG 4 standard specification. Copyright © 2006, Shelly Palmer. All rights reserved. 13-Television.Glossary v2.qxd 3/20/06 7:29 AM Page 211 Playout Software – Satellite Dish 211 Rabbit Ears Slang for an indoor television antenna.