I first arrived in Silicon Valley in 1977 — 45 years ago. I was 24 years old and had accepted a Stanford fellowship paying $2,575 for the academic year. My on-campus apartment rent was $175 per month and a year later I’d buy my first Palo Alto house for $57,000 (sold 21 years later for $990,000). It was an exciting time to be living and working in Silicon Valley. And it still is. We’re right now in a period of economic confusion and reflection when many of the loudest voices have little to no sense of history. Well my old brain is crammed with history and I’m here to tell you that the current situation — despite the news coverage — is no […]
Paul Graham’s Legacy
Last week there was a press release you might easily have missed. A Distributed Autonomous Organization (DAO) called OrangeDAO is cooperating with a small seed venture fund called Press Start Capital to establish the OrangeDAO X Press Start Cap Fellowship Program for new Web3 entrepreneurs. Successful applicants get $25,000 each plus 10 weeks of structured mentorship plus continued access to the more than 1200-member OrangeDAO network. In exchange, OrangeDAO and Press Start get to invest in the resulting companies, if any, produced by the class.
Big deal, it’s Y Combinator Junior, right?
Wrong. It’s Y Combinator on steroids.
This second-generation YC has […]
The Big Sky is Falling
The history of instrument flight (originally called blind flying) has had three distinct phases. The first began with Elmer Sperry’s Gyro Horizon in the 1920s that allowed skilled pilots to fly through clouds by showing them where was the horizon they couldn’t otherwise see. Race pilot Jimmy Doolittle used Sperry’s gyro and a precision altimeter, a gyro compass and a primitive navigation radio in 1929 to make the first flight entirely “under the hood” with takeoff, flight, and landing all without visual references. That Jimmy Doolittle was one hell of a pilot. But for the purposes of this column what I want to concentrate on is that in this first era of instrument flight the only thing Doolittle had to worry about hitting […]
The Incentive Game
My friend Bob Litan, who is a senior fellow at the Brookings Institution, is worried about COVID-19 herd immunity. Specifically, Bob worries that the only way our population can reach the 60-70 percent immunity rate required to protect us all from the novel coronavirus is if some people are paid to take the shot. And Bob may be correct: a Gallup poll last month concluded that 35 percent of Americans would refuse to be vaccinated.
Uh-oh.
Bob thinks the way around this problem is to pay people, giving them an economic incentive to do the right thing. This got me thinking about the whole concept of […]
Jeff Bezos Can’t Lose
Big technology companies have been recently coming under increased scrutiny from federal regulators. Several tech companies are reportedly under investigation, but this column is only about Amazon, which seems to be in regulatory crosshairs in part because President Trump doesn’t like Amazon founder and CEO Jeff Bezos, who also owns one of Trump’s least-favorite newspapers, the Washington Post. Ironically, Trump’s goal of breaking-up Amazon would only make Jeff Bezos at least $35 billion richer.
It’s simple: Amazon is worth a lot more in pieces than it is as a single company.
Bezos is no fool, so he knows […]
