If current rules and regulations had been in existence in the 1900s and the first half of the 20th century we would not have airplanes, air conditioning, antibiotics, automobiles, chlorine, the measles and smallpox vaccines, cardiac catheters, open heart surgery, radio, refrigeration and X-rays. The universal principle of risk aversion in the past hampered only individuals, and if only one individual in a million was immune (that is, if one in a million did not share this risk aversion) that was enough for progress to occur. Now, this risk aversion is firmly entrenched in legislation all over the world, and it is throttling innovation, leading to actions that Kahneman describes as “detrimental to the wealth of individuals, to the soundness of policy, and to the welfare of society.” The bottom line is that risk adversity is fundamentally bad for productivity, and especially for research and development.
excellent article. having worked at both small companies and big companies, it is not unusual for the small "skunk works" type of job shops to be 10x more productive.
We have all heard the quip that "if it saves just one life it is worth it!"
at a former employer, one of the mandates to come out of the quest for a "Safety Conscious Work Environment" (SCWE) (one can't have too many acronyms), is that employees must back their cars into the parking spaces so that they can drive out forward because it is safer. No joke.
If current rules and regulations had been in existence in the 1900s and the first half of the 20th century we would not have airplanes, air conditioning, antibiotics, automobiles, chlorine, the measles and smallpox vaccines, cardiac catheters, open heart surgery, radio, refrigeration and X-rays. The universal principle of risk aversion in the past hampered only individuals, and if only one individual in a million was immune (that is, if one in a million did not share this risk aversion) that was enough for progress to occur. Now, this risk aversion is firmly entrenched in legislation all over the world, and it is throttling innovation, leading to actions that Kahneman describes as “detrimental to the wealth of individuals, to the soundness of policy, and to the welfare of society.” The bottom line is that risk adversity is fundamentally bad for productivity, and especially for research and development.
excellent article. having worked at both small companies and big companies, it is not unusual for the small "skunk works" type of job shops to be 10x more productive.
We have all heard the quip that "if it saves just one life it is worth it!"
at a former employer, one of the mandates to come out of the quest for a "Safety Conscious Work Environment" (SCWE) (one can't have too many acronyms), is that employees must back their cars into the parking spaces so that they can drive out forward because it is safer. No joke.
Expertise usually places but rarely comes in first because experts have to justify their existence.
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"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros
We have a banner honouring Hedy Lamarr at the Museum of Broadcasting. She isn't in our roll of Electronic Communication but there are a couple of notable women pioneers.....'>....:
Miss_Faucie_Fishtits wrote:We have a banner honouring Hedy Lamarr at the Museum of Broadcasting. She isn't in our roll of Electronic Communication but there are a couple of notable women pioneers.....'>....:
Colonel Sun wrote: ↑Wed Aug 28, 2019 4:04 pm
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That is amazing that no one thought of this before.
"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros
Quite a claim. Would [wood?] be good if it stands up to future R&D.
I'd love to sail such a wooden boat.
I wonder how it would hold up to mold?
"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros
March 31, 2020 — Using the same technology that allows high-frequency signals to travel on regular phone lines, researchers tested sending extremely high-frequency, 200 GHz signals through a pair of copper wires. The result is a link that can move data at rates of terabits per second, significantly faster than currently available channels.
May the gods preserve and defend me from self-righteous altruists; I can defend myself from my enemies and my friends.
The pandemic shows that the US is no longer much good at coming up with technologies relevant to our most basic needs.
I think that is a bit much. Given all the lies the entire world was told about the CCP Virus. I suppose the article is dead on in regards to welding people in their homes and better means to curtail freedom of speech.
"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros
In the United States, 75% of venture capital goes to software. Some 5 to 10% goes to biotech. The other sliver goes to everything else—transportation, sanitation, health care. No wonder the pandemic has exposed venture capital’s broader failures.
May the gods preserve and defend me from self-righteous altruists; I can defend myself from my enemies and my friends.
The pandemic shows that the US is no longer much good at coming up with technologies relevant to our most basic needs.
I think that is a bit much. Given all the lies the entire world was told about the CCP Virus. I suppose the article is dead on in regards to welding people in their homes and better means to curtail freedom of speech.
I realise their are lots of quibbles and knee jerks to this reality, especially with brazil and china hiding real stats but all together, its the worst combination.
The pandemic shows that the US is no longer much good at coming up with technologies relevant to our most basic needs.
I think that is a bit much. Given all the lies the entire world was told about the CCP Virus. I suppose the article is dead on in regards to welding people in their homes and better means to curtail freedom of speech.
I realise their are lots of quibbles and knee jerks to this reality, especially with brazil and china hiding real stats but all together, its the worst combination.
Again most deaths because the US is a big country. If you take the EU as a whole they have had more deaths than the US. At least last time I checked. But like I siad this is not over. Crowing about which countries did worse or better is likely going to morph into a crow dinner.
Having said that I would note that 70% that died of the CCP virus in Pennsylvania and a large portion of those who died in NY state, died in nursing homes because that is where the Democrat governors of those states sent people with the virus to die. Which in turn infected other people in those nursing homes who also ended up dying.
"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros
I think the author misses the point that the cost and limitations of evs are precisely why they are preferred over superior hydrogen fuel cell vehicles. Not much money in water and two electrodes.
“Christ has no body now but yours. Yours are the eyes through which he looks with compassion on this world. Yours are the feet with which he walks among His people to do good. Yours are the hands through which he blesses His creation.”
high cost of living and debt based education - you would have to be mad to take on a risky degree in a field that the world only wants the best of the best.
high cost of living and debt based education - you would have to be mad to take on a risky degree in a field that the world only wants the best of the best.
Debt-based education is certainly a factor.
What do you consider to be a "risky degree"?
May the gods preserve and defend me from self-righteous altruists; I can defend myself from my enemies and my friends.
I think the author misses the point that the cost and limitations of evs are precisely why they are preferred over superior hydrogen fuel cell vehicles. Not much money in water and two electrodes.
I have to disagree. The standard catalyst in hydrogen fuel cells is highly-expensive platinum. A great deal of recent work has been in finding alternative lower-cost catalysts such as carbon nanotubes.
The other problem with hydrogen is energy density, although is it less severe than energy storage via electric batteries.
energy_density.png (107.56 KiB) Viewed 5563 times
Despite popular perception, hydrogen is safer than gasoline, as unlike gasoline it is lighter than air and vents away rather then accumulating.
May the gods preserve and defend me from self-righteous altruists; I can defend myself from my enemies and my friends.
