Category: Entrepreneurship

“The World Is Not Only Stranger than We Imagine, It Is Stranger than We Can Imagine”

(p. 238) The British geneticist J. B. S. Haldane once commented, “The world is not only stranger than we imagine, it is stranger than we can imagine.” This famous quote is often used to support the notion that the mysteries of the universe are beyond our understanding. Here is another way to interpret his insight: Because so much is out there that is beyond our imagination, it is likely that we will discover new truths only when we accidentally stumble upon them. Development can then proceed apace.

Source:
Meyers, Morton A. Happy Accidents: Serendipity in Modern Medical Breakthroughs. New York: Arcade Publishing, 2007.
(Note: I have corrected a typo in the Haldane quote. Meyers mistakenly has “that” for the second “than.”)

“What Valuable Company Is Nobody Building?”

(p. A15) Peter Thiel is larger than life even for a Silicon Valley billionaire. He co-founded PayPal, was the first investor in Facebook , and funded LinkedIn, Spotify, SpaceX and Airbnb. Now he has written a much-needed explanation of the information economy, masquerading as a breezy how-to book for entrepreneurs. “Zero to One: Notes on Startups, or How to Build the Future” is based on lectures Mr. Thiel gave at Stanford.
He hopes more entrepreneurs will focus on big ideas for health, energy and transportation; his venture firm’s tag line is “They promised us flying cars and all we got was 140 characters,” a reference to Twitter. His explanation of innovation is also a primer on how free markets work. He encourages entrepreneurs to ask: “What valuable company is nobody building?”

For the full commentary, see:
L. GORDON CROVITZ. “INFORMATION AGE; Three Cheers for ‘Creative Monopolies’.” The Wall Street Journal (Mon., Oct. 13, 2014): A15.
(Note: the online version of the commentary has the date Oct. 12, 2014.)

The book praised in the passage quoted above is:
Thiel, Peter, and Blake Masters. Zero to One: Notes on Startups, or How to Build the Future. New York: Crown Business, 2014.

Economic Hope Cures Terrorism

(p. C1) As the U.S. moves into a new theater of the war on terror, it will miss its best chance to beat back Islamic State and other radical groups in the Middle East if it doesn’t deploy a crucial but little-used weapon: an aggressive agenda for economic empowerment. Right now, all we hear about are airstrikes and military maneuvers–which is to be expected when facing down thugs bent on mayhem and destruction.
But if the goal is not only to degrade what President Barack Obama rightly calls Islamic State’s “network of death” but to make it impossible for radical leaders to recruit terrorists in the first place, the West must learn a simple lesson: Economic hope is the only way to win the battle for the constituencies on which terrorist groups feed.
I know something about this. A generation ago, much of Latin America was in turmoil. By 1990, a Marxist-Leninist terrorist organization called Sendero Luminoso, or Shining Path, had seized control of most of my home country, Peru, where I served as the president’s principal adviser. Fashionable opinion held that the people rebelling were the impoverished or underemployed wage slaves of Latin America, that capitalism couldn’t work outside the West and that Latin cultures didn’t really understand market economics.
The conventional wisdom proved to be wrong, however. Reforms in Peru gave indigenous entrepreneurs and farmers control over their assets and a new, more accessible legal framework in which to run businesses, make contracts and borrow–spurring an unprecedented rise in living standards.

For the full commentary, see:
HERNANDO DE SOTO. “The Capitalist Cure for Terrorism; Military might alone won’t defeat Islamic State and its ilk. The U.S. needs to promote economic empowerment and entrepreneurship to give the Arab world another path.” The Wall Street Journal (Sat., Oct. 11, 2014): C1-C2.
(Note: italics in original.)
(Note: the online version of the commentary has the date Oct. 10, 2014, and the title “The Capitalist Cure for Terrorism; Military might alone won’t defeat Islamic State and its ilk. The U.S. needs to promote economic empowerment.”)

Soto’s masterpiece is:
Soto, Hernando de. The Other Path: The Invisible Revolution in the Third World. New York: Basic Books, 1989.

Scientists Seriously Discuss Geoengineering Solutions to Global Warming

(p. A1) UTRECHT, the Netherlands — The solution to global warming, Olaf Schuiling says, lies beneath our feet.
For Dr. Schuiling, a retired geochemist, climate salvation would come in the form of olivine, a green-tinted mineral found in abundance around the world. When exposed to the elements, it slowly takes carbon dioxide from the atmosphere.
Olivine has been doing this naturally for billions of years, but Dr. Schuiling wants to speed up the process by spreading it on fields and beaches and using it for dikes, pathways, even sandboxes. Sprinkle enough of the crushed rock around, he says, and it will eventually remove enough CO2 to slow the rise in global temperatures.
“Let the earth help us to save the earth,” said Dr. Schuiling, who has been pursuing the idea single-mindedly for several decades and at 82 is still writing papers on the subject from his cluttered office at the University of Utrecht.
Once considered the stuff of wild-eyed fantasies, such ideas for countering climate change — known as geoengineering solutions, because they intentionally manipulate nature — are now being discussed seriously by scientists.

For the full story, see:
HENRY FOUNTAIN. “Climate Cures Seeking to Tap Nature’s Power.” The New York Times (Mon., NOV. 10, 2014): A1 & A6.
(Note: italics in original; ellipsis added.)
(Note: the online version of the story has the date NOV. 9, 2014, and has the title “Climate Tools Seek to Bend Nature’s Path.”)

Alertness to What Problem Can Be Solved with Unexpected Results

(p. 208) “Every scientist must occasionally turn around and ask not merely, ‘How can I solve this problem?’ but, ‘Now that I have come to a result, what problem have I solved?” This use of reverse questions is of tremendous value precisely at the deepest parts of science.”–NORBERT WIENER, INVENTION:THE CARE AND FEEDING OF IDEAS

Source:
Norbert Wiener as quoted in Meyers, Morton A. Happy Accidents: Serendipity in Modern Medical Breakthroughs. New York: Arcade Publishing, 2007.

Forssmann’s Courage Rewarded with “Professional Criticism and Scorn”

(p. 197) Forssmann’s report in the leading German medical journal garnered him not hosannas but instead fierce professional criticism and scorn. In response to a senior physician who claimed undocumented priority for the procedure, the twenty-five-year-old Forssmann was forced to provide an addendum to his publication one month later. Rigid dogmatism and an authoritarian hierarchy characterized the German medicine of that day. The human heart, as the center of life, was considered inviolable by instrumentation and surgery.

Source:
Meyers, Morton A. Happy Accidents: Serendipity in Modern Medical Breakthroughs. New York: Arcade Publishing, 2007.

Edison Claimed an Inventor Needs “a Logical Mind that Sees Analogies”

(p. C3) Thomas Edison famously said that genius requires “1% inspiration and 99% perspiration.” Edison’s third criterion for would-be innovators is less well-known but perhaps even more vital: “a logical mind that sees analogies.”
. . .
The art of analogy flows from creative re-categorization and the information that we extract from surprising sources. Take the invention of the moving assembly line. Credit for this breakthrough typically goes to Henry Ford, but it was actually the brainchild of a young Ford mechanic named Bill Klann. After watching butchers at a meatpacking plant disassemble carcasses moving past them along an overhead trolley, Klann thought that auto workers could assemble cars through a similar process by adding pieces to a chassis moving along rails.
Overcoming significant management skepticism, Klann and his cohorts built a moving assembly line. Within four months, Ford’s line had cut the time it took to build a Model T from 12 hours per vehicle to just 90 minutes. In short order, the moving assembly line revolutionized manufacturing and unlocked trillions of dollars in economic potential. And while in retrospect this innovation may seem like a simple, obvious step forward, it wasn’t; the underlying analogy between moving disassembly and moving assembly had eluded everyone until Klann grasped its potential.

For the full essay, see:
JOHN POLLACK. “Four Ways to Innovate through Analogies; Many of history’s most important breakthroughs were made by seeing analogies–for example, how a plane is like a bike.” The Wall Street Journal (Sat., Nov. 8, 2014): C3.
(Note: ellipsis added.)
(Note: the online version of the essay has the date Nov. 7, 2014, and has the title “Four Ways to Innovate through Analogies; Many of history’s most important breakthroughs were made by seeing analogies–for example, how a plane is like a bike.”)

The passages quoted above are related to Pollack’s book:
Pollack, John. Shortcut: How Analogies Reveal Connections, Spark Innovation, and Sell Our Greatest Ideas. New York, NY: Gotham Books, 2014.

Simplot’s Company Keeps Innovating with Potatoes

(p. B1) A potato genetically engineered to reduce the amounts of a potentially harmful ingredient in French fries and potato chips has been approved for commercial planting, the Department of Agriculture announced on Friday [November 7, 2014].
The potato’s DNA has been altered so that less of a chemical called acrylamide, which is suspected of causing cancer in people, is produced when the potato is fried.
The new potato also resists bruising, a characteristic long sought by potato growers and processors for financial reasons. Potatoes bruised during harvesting, shipping or storage can lose value or become unusable.
The biotech tubers were developed by the J. R. Simplot Company, a privately held company based in Boise, Idaho, which was the initial supplier of frozen French fries to McDonald’s in the 1960s and is still a major supplier. The company’s founder, Mr. Simplot, who died in 2008, became a billionaire.
The potato is one of a new wave of genetically modified crops that aim to provide benefits to consumers, not just to farmers as the widely grown biotech crops like herbicide-tolerant soybeans and corn do. The nonbruising aspect of the potato is similar to that of genetically engineered nonbrowning apples, developed by Okanagan Specialty Fruits, which are awaiting regulatory approval.
. . .
The question now is whether the potatoes — which come in the Russet Burbank, Ranger Russet and Atlantic varieties — will be adopted by food companies and restaurant chains. At least one group opposed to such crops has already pressed McDonald’s to reject them.

For the full story, see:
ANDREW POLLACK. “New Potato, Hot Potato: U.S. Approves Modified Crop. Next Up: French-Fry Fans.” The New York Times (Sat., NOV. 8, 2014): B1-B2.
(Note: ellipsis, and bracketed date, added.)
(Note: the online version of the story has the date NOV. 7, 2014, and has the title “U.S.D.A. Approves Modified Potato. Next Up: French Fry Fans.”)

Denied Approval to Catheterize Hearts, Forssmann Catheterized His Own

(p. 195) Forssmann received his medical degree from the University of Berlin in 1929. That year, he interned at a small hospital northwest of Berlin, the Auguste-Viktoria-Heim in Eberswalde. He pleaded with his superiors for approval to try a new procedure–to inject drugs directly into the heart–but was unable to persuade them of his new concept’s validity. Undaunted, Forssmann proceeded on his own. His goal was to improve upon the administration of drugs into the central circulation during emergency operations.
The circumstances of the incident on November 5, 1929, revealed by Forssmann in his autobiography, could hardly have been (p. 196) more dramatic. The account reflects Forssmann’s dogged determination, willpower, and extraordinary courage. He gained the trust of the surgical nurse who provided access to the necessary instruments. So carried away by Forssmann’s vision, she volunteered herself to undergo the experiment. Pretending to go along with her, Forssmann strapped her down to the table in a small operating room while his colleagues took their afternoon naps. When she wasn’t looking, he anesthetized his own left elbow crease. Once the local anesthetic took effect, Forssmann quickly performed a surgical cutdown to expose his vein and boldly manipulated a flexible ureteral catheter 30 cm toward his heart. This thin sterile rubber tubing used by urologists to drain urine from the kidney was 65 cm long (about 26 inches). He then released the angry nurse.
They walked down two flights of stairs to the X-ray department, where he fearlessly advanced the catheter into the upper chamber (atrium) on the right side of his heart, following its course on a fluoroscopic screen with the aid of a mirror held by the nurse. (Fluoroscopy is an X-ray technique whereby movement of a body organ, an introduced dye, or a catheter within the body can be followed in real time.) He documented his experiment with an X-ray film. Forssmann was oblivious to the danger of abnormal, potentially fatal heart rhythms that can be provoked when anything touches the sensitive endocardium, the inside lining of the heart chambers.

Source:
Meyers, Morton A. Happy Accidents: Serendipity in Modern Medical Breakthroughs. New York: Arcade Publishing, 2007.

Serendipitous Discovery of CorningWare

(p. A15) S. Donald Stookey, a scientist with Corning Glass Works who in the 1950s accidentally discovered a remarkably strong material that could be used not just to make the nose cone of a missile but also to contain a casserole in both a refrigerator and hot oven — its durable culinary incarnation was called CorningWare — died on Tuesday [November 4, 2014] in Rochester.
. . .
Dr. Stookey had not planned to invent it. Experimenting at Corning one day in 1953, he put photosensitive glass into a furnace, intending to heat it to 600 degrees.
“When I came back, the temperature gauge was stuck on 900 degrees, and I thought I had ruined the furnace,” he said in an interview several years ago. “When I opened the door to the furnace, I saw the glass was intact and had turned a milky white. I grabbed some tongs to get it out as fast as I could, but the glass slipped out of the tongs and fell to the floor. The thing bounced and didn’t break. It sounded like steel hitting the floor.”

For the full obituary, see:
WILLIAM YARDLEY. “S. Donald Stookey, Scientist, Dies at 99; Among His Inventions Was CorningWare.” The New York Times (Sat., NOV. 8, 2014): A15.
(Note: ellipsis, and bracketed date, added.)
(Note: the online version of the obituary has the date NOV. 6, 2014.)

Esther Dyson Sees a Lot of Silicon Valley as Just Motivated to Make Money

(p. C11) The U.S. Commerce Department recently said that it plans to relinquish its oversight of Icann, handing that task to an international body of some kind. The details are still being worked out, but Ms. Dyson hopes that governments won’t be the new regulators. . . .
For now, she thinks there are many Silicon Valley Internet companies with inflated market values. “There is the desire to make money that motivates a lot of that in Silicon Valley, and yes, I think it’s totally a bubble,” she says. “It’s not like the last bubble in that there are a lot of real companies there [now], but there are a lot of unreal companies and…many of them will disappear.” She thinks too many people are starting similar companies. “You have people being CEOs of teeny little things who would be much better as marketing managers of someone else’s company,” she says.
And though her work often takes her to California, she’s happy to stay in New York. These days, she finds Silicon Valley “very fashionable,” she says, “and I don’t really like fashion.”

For the full interview, see:
ALEXANDRA WOLFE, interviewer. “WEEKEND CONFIDENTIAL; Esther Dyson’s Healthy Investments; The investor is hoping to produce better health through technology with a new nonprofit.” The Wall Street Journal (Sat., May 3, 2014): C11.
(Note: first ellipsis added; second ellipsis in original.)
(Note: the online version of the interview has the date May 2, 2014, and has the title “WEEKEND CONFIDENTIAL; Esther Dyson’s Healthy Investments; The investor is hoping to produce better health through technology with a new nonprofit.”)