Category: Entrepreneurship

By Serendipity and Persistence, Epstein Found the Epstein-Barr Virus That Can Cause a Cancer

(p. A23) In March 1961, Dr. Anthony Epstein, a pathologist at Middlesex Hospital in London, almost skipped a visiting physician’s afternoon lecture about children with exceptionally large facial tumors in Uganda.

. . .

Despite Dr. Epstein’s initial reluctance to attend the talk — he sat in the rear so he could make a quick escape — his excitement grew the longer Dr. Burkitt spoke. By the time the lecture was over, he knew that he would drop all of his ongoing projects to find the cause of that unusual malignancy.

. . .

“To have the insight and to be able to follow his hypothesis, with a little acknowledged serendipity, and identify the novel virus was pioneering,” Dr. Darryl Hill, who heads the University of Bristol’s School of Cellular and Molecular Medicine in England, said in an email.

. . .

When the 50th anniversary of E.B.V.’s discovery was celebrated in 2014, Dr. Epstein told an interviewer with the BBC what he had been thinking as he listened to Dr. Burkitt speak in 1961.

“I thought there must be some biological agent involved,” Dr. Epstein said. “I was working on chicken viruses which cause cancer. I had virus-inducing tumors at the front of my head.”

. . .

The discovery of the virus was not quick. Dr. Burkitt sent tumor biopsies to London from Kampala, Uganda, but Dr. Epstein couldn’t find viruses in the early specimens, according to Dr. Hill, who wrote a remembrance of Dr. Epstein for the University of Bristol.

When another biopsy shipment was diverted from Heathrow Airport to another airport, in Manchester, England, because of fog, the sample seemed doomed, Dr. Hill said.

“By the time the sample reached Tony, it had gone cloudy — usually a sign of bacterial contamination that would consign it to the bin,” Dr. Hill wrote in his tribute. “Tony did not throw it away but examined it carefully.”

“He discovered, to his surprise, that the cloudiness was due to lymphoid tumor cells that had been shaken off the biopsy in transit and were now floating merrily in suspension.” He continued, “Tony exploited this chance finding to grow cell lines, derived from the tumor, in culture. He showed that these stayed alive indefinitely.”

Studying his new sample with a powerful electron microscope, Dr. Epstein was able to spot the distinct viral signature of a herpes virus. Dr. Hill called the discovery a eureka moment.

For the full obituary, see:

Delthia Ricks. “Dr. Anthony Epstein, 102, Who Discovered Epstein-Barr Virus, Dies.” The New York Times (Friday, March 8, 2024): A23.

(Note: ellipses added.)

(Note: the online version of the obituary was updated March 11 [sic], 2024, and has the title “Dr. Anthony Epstein, Pathologist Who Discovered Epstein-Barr Virus, Dies at 102.” Where there are minor differences in wording between versions, the passages quoted above follow the online version.)

Apple’s Bold “1984” Super Bowl Ad, Had Failed Marketing Test

(p. C4) Conceived by the Chiat/Day ad agency and directed by Ridley Scott, then fresh off making the seminal science-fiction noir “Blade Runner,” the Apple commercial “1984,” which was intended to introduce the new Macintosh computer, would become one of the most acclaimed commercials ever made. It also helped to kick off — pun partially intended — the Super Bowl tradition of the big game serving as an annual showcase for gilt-edged ads from Fortune 500 companies.

. . .

FRED GOLDBERG The original idea was actually done in 1982. We presented an ad [with] a headline, which was “Why 1984 Won’t Be Like ‘1984,’” to Steve Jobs, and he didn’t think the Apple III was worthy of that claim.

. . .

HAYDEN Steve Jobs was excited but frightened by it. Steve Wozniak offered to pay to run the commercial himself.

SCULLEY Before the commercial ran, we had to take it to the board of directors. The board sees the commercial, and then there’s just dead silence in the boardroom. They turn and look at me, and [a board member] says, “You’re not really going to run that thing, are you?”

HAYDEN As the closing credits scrolled up, the chairman, Mike Markkula, put his head in his hands and kind of folded over the conference table, and then slowly straightened up and [proposed hiring a different ad agency].

SCOTT I made it. I thought it was pretty good. But I was thinking, “Really? They’re going to run this on the Super Bowl? And we don’t know what it’s for?”

GOLDBERG I had them do a theater test. We get back the results, and it’s the worst business commercial that they’ve ever tested, in terms of persuasiveness.

SCULLEY The board said, “We don’t think you should run it. Try to sell the time.”

GOLDBERG And it was Jay Chiat who told us to drag our feet, basically, when we were told to sell off the time on the Super Bowl.

HAYDEN At long last, it came down that we would run the “1984” commercial once.

For the full story, see:

Saul Austerlitz. “The Super Bowl’s Big Ad Touchdown.” The New York Times (Saturday, February 10, 2024): C4.

(Note: ellipses, and bracketed year, added. The bracketed words in comments from Goldberg, Sculley, and Hayden were in the original.)

(Note: the online version of the story was updated Feb. 5, 2024, and has the title “40 Years Ago, This Ad Changed the Super Bowl Forever.” In the print and online versions, the names of panelists were in capitalized and bold fonts.)

Apple’s bold and famous “1984” Super Bowl ad could only be understood by those who were familiar with:

Orwell, George. Nineteen Eighty-Four. New York: The New American Library, 1961 [1st published in 1949].

A PC Industry Run “By Middle-Manager Types” Is No Longer “Fun”

(p. B10) John Walker, a groundbreaking, if reclusive, technology entrepreneur and polymath who was a founder and chief executive of Autodesk, the company that brought the ubiquitous AutoCAD software program to the design and architecture masses, died on Feb. 2 [2024] in Neuchâtel, Switzerland.

. . .

AutoCAD — the “CAD” stands for computer-aided design — was based on a program called Interact created by Michael Riddle, another company founder. With the contributions of Mr. Walker as well as Greg Lutz, who was also a founder, and the rest of the team, AutoCAD would go on to revolutionize industries including architecture, graphic design and engineering by allowing design professionals to ditch their pencils and paper and render their creations on a screen using an inexpensive personal computer.

“To him goes the credit for the Second Design Revolution,” the California software executive Roopinder Tara wrote in a tribute to Mr. Walker on the site Engineering.com. The “First Design Revolution,” as Mr. Tara called it, was the creation of earlier CAD programs that ran on expensive mainframes or minicomputers. But, he wrote, it was with AutoCAD, which “burst onto the scene in 1982, after the advent of the IBM PC, that the computer actually started to deliver on the promise.”

. . .

“In 1977, this business was fun,” Mr. Walker wrote in a book-length history of Autodesk that he published on his site. “The sellers and the buyers were hot-shot techies like ourselves, everybody spoke the same language and knew what was going on.”

“Today,” he added, “the microcomputer industry is run by middle-manager types who know far more about P/L statements than they do RAM organization.”

For the full obituary, see:

Alex Williams. “John Walker, 74, Recluse Who, as a Tech Mogul, Popularized AutoCAD.” The New York Times (Thursday, March 7, 2024): B10.

(Note: ellipses, and bracketed year, added.)

(Note: the online version of the obituary has the date March 6, 2024 and has the title “John Walker, Tech Executive Who Popularized AutoCAD, Dies at 74.” In both the online and print versions, the word fun is in italics.)

“If You Burn Out, Relight the Fire”

(p. A11) Dr. Gladys McGarey, 103, continues to consult, give talks and podcast interviews after nearly eight decades in the medical field. She started an Instagram account that has nearly 47,000 followers.

“If you burn out, relight the fire,” says McGarey. She ran a clinic while raising six children and had to start a new one when her husband and clinic partner left her when she was 69 and married one of their colleagues.

. . .

Not everyone wants to work in their later years, says Dr. Robert Waldinger, a professor of psychiatry at Harvard Medical School.

“It’s not burnout. It’s just ‘I don’t want to do this anymore,’ ” says Waldinger, director of the Harvard Study of Adult Development, a longitudinal study on how people thrive.

As people get older, they are better at discerning what really matters, he says, and what they can let go of. The goal isn’t necessarily an 80-year career, but finding purpose in whatever we chose to do in our 80s and beyond, whether that is taking care of a grandchild, playing the piano, or joining a community theater.

For many, there is passion, purpose and love in the work.

. . .

Like others who have remained engaged in their careers in their later years, she says the secret is to find things that make life important and our “hearts sing.”

For the full commentary, see:

Clare Ansberry. “At 103, Work Still Makes Heart Sing.” The Wall Street Journal (Wednesday, Jan. 3, 2024): A11.

(Note: ellipses added.)

(Note: the online version of the commentary has the date December 29, 2023, and has the title “TURNING POINTS; How to Work—and Love It—Into Your 80s and Beyond.”)

The memoir by McGarey mentioned above is:

McGarey, Gladys. The Well-Lived Life: A 102-Year-Old Doctor’s Six Secrets to Health and Happiness at Every Age. New York: Atria Books, 2023.

Is Bill Gates Correct in Saying Money Is “The Most Important Thing in the Fight Against Disease”?

Money is important. But I believe that what is even more important is giving doctors and patients the freedom to choose and act, within a system of innovative dynamism.

(p. A2) Decades of data and experience suggest that money is the most important thing in the fight against disease.

For the full commentary, see:

Bill Gates. “The Best Investment I’ve Ever Made.” The Wall Street Journal (Saturday, Jan. 19, 2019 [sic]): A1-A2.

(Note: the online version of the commentary has the date Jan. 16, 2019 [sic], and has the same title as the print version.)

“Xi Is Dampening the Energy and Optimism of the Chinese People”

(p. A1) A song called “Tomorrow Will Be Better” became a sensation in mainland China in the 1980s, when the nation was emerging from the poverty and turmoil of Mao Zedong’s rule.

Its inspirational lyrics, which exhorted listeners to “look upward for the wings in the sky,” came to represent a generation that was starting to believe in a brighter future.

Now people in China are listening to the song again—but for a very different reason. Videos of the song are circulating on WeChat and other communications apps, often with taglines expressing sadness about the end of that era.

“The 1980s are gone forever,” wrote one listener. “So long, those years of burning passion,” wrote another.

For many Chinese, especially those who came of age during the past 40 years of reform and opening, China appeared to be on an irreversible path forward toward more growth, openness and opportunity.

But now China’s leader, Xi Jinping, is restoring aspects of Mao’s rule, forcing people to confront a more uncertain future rooted in China’s past.

Xi’s predecessors, beginning with Deng Xiaoping, embraced market forces, growth and limited freedoms. Xi, by contrast, is placing national security over the economy, tightening government control, and putting the Communist Party—and himself—at the center of Chinese society.

A Dec. 16 [2023] article published by the party’s influential journal, Qiushi, elevated Xi to the same historical status as Mao, calling Xi “the People’s leader”—a title previously reserved for China’s Great Helmsman.

Gone is the booming China that inspired many young people and entrepreneurs to take risks and bet on the future. Home prices are falling, youth unemployment is at a record high, private investment is shrinking, the financial system is drowning in debt and deflation is setting in.

. . .

(p. A9) “Xi is dampening the energy and optimism of the Chinese people,” said Susan Shirk, a former senior diplomat during the Clinton administration and author of a recent book, “Overreach: How China Derailed Its Peaceful Rise.”

“In a system so dominated by one leader,” Shirk said, “everyone feels powerless to effect positive change.”

. . .

In Shenzhen, Deng’s reform policies helped transform the former fishing village in the shadow of neighboring Hong Kong into a cosmopolitan city of 13 million, home to globally competitive tech companies such as Tencent.

“Time is money, efficiency is life” was the slogan that guided the city’s early development.

Today, Shenzhen has a new slogan: “Follow the party, start your business”—with the party coming first.

Communist Party direction doesn’t seem to be brightening the city’s future. More than a quarter of Shenzhen’s office space sits empty after Xi started a campaign in 2020 to rein in risk-taking at private firms. The regulatory crackdown wiped out more than $1 trillion in market value from publicly-listed tech firms and triggered layoffs and business retrenchment.

. . .

Faced with growing economic headwinds and challenges to order, Xi is doubling down on Mao-style control, embracing a Mao-era tool as a way to ensure national security.

The practice, called the “Fengqiao experience,” is named after a town in eastern China that gained national fame in the early 1960s when Mao praised the way its officials mobilized people to identify and punish so-called enemies of the proletariat—capitalists, traditionalists and the like.

People were encouraged to report on one another, with husbands informing on wives and children on their parents, leading to some of the most brutal aspects of the Cultural Revolution. After that tumultuous period, the “Fengqiao experience” faded into history.

Xi is trying to revive aspects of it to mobilize people to fix problems at the local level before they lead to widespread social unrest.

. . .

John Ling, an e-commerce entrepreneur in Shanghai in his late 40s, recalls a far more liberal environment in the early 2000s. Lured back home by China’s seemingly limitless opportunities after studying in the U.S., he started a business trading goods online.

Back then, “I did feel like you could realize your American dream in China, as long as you worked hard,” Ling recalled.

Year by year he felt greater government interference. As more capital poured into e-commerce, he said, Beijing grew concerned that the sector was diverting resources away from more strategic areas such as semiconductors, an industry in which China still heavily relies on Western firms.

Ling said it became so difficult to raise fresh funding for e-commerce that he decided to shut his venture earlier this year. “It’s all about hard-tech these days,” he said, referring to sectors now favored by the government. “But can you sustain the entire economy with just hard-tech?”

“It feels like nothing is possible” nowadays, he said.

For the full commentary, see:

Lingling Wei. “China Is Looking to Move Ahead, But Xi Revives Mao-Era Playbook.” The Wall Street Journal (Friday, Dec. 29, 2023): A1 & A9.

(Note: ellipses and bracketed year added.)

(Note: the online version of the commentary was updated December 28, 2023, and has the title “China Wants to Move Ahead, but Xi Jinping Is Looking to the Past.” The fourth and eighth paragraphs quoted above appear in the online, but not the print, version of the commentary. In other sections where the online version is more detailed than the print version, the passages quoted above follow the online version.)

The book by Shirk mentioned above is:

Shirk, Susan L. Overreach: How China Derailed Its Peaceful Rise. New York: Oxford University Press, 2023.

In Managing Workers Firms Should “Experiment with New Forms of Freedom”

(p. C1) In a classic 1958 lecture, the philosopher Isaiah Berlin distinguished between two types of freedom. Negative liberty is freedom from obstacles and interference by others. Positive liberty is freedom to control your own destiny and shape your own life. If we want to maximize net freedom in the future of work, we need to expand both positive and negative liberty.

The debate about whether work should be in-person, remote-first or hybrid is too narrow. Yes, people want the freedom to decide where they work. But they also want the freedom to decide who they work with, what they work on and when they work. Real flexibility is having autonomy to choose your people, your purpose and your priorities.

. . .

(p. C2) We need boundaries to protect individual focus time too.

. . .

One effective strategy seems to be blocking quiet time in the mornings as a window for deep work, and then coming together after lunch. When virtual meetings are held in the afternoon, people are less likely to multitask—probably in part because they’ve been able to make progress on their own tasks.

. . .

Flexible work is here to stay, but companies that resist it may not be. One of the biggest mistakes I saw companies make before Covid was failing to experiment with new forms of freedom.

For the full commentary, see:

Adam Grant. “The Real Meaning of Freedom at Work.” The Wall Street Journal (Saturday, Oct. 9, 2021 [sic]): C1-C2.

(Note: ellipses added.)

(Note: the online version of the commentary was updated October 8, 2021 [sic], and has the same title as the print version.)

“Discrimination on the Basis of Race, Which DEI Does, Is Literally the Definition of Racism”

(p. B1) Ackman and Musk, two billionaires with wide followings on X, which Musk owns, have . . . taken up the fight against DEI, giving it a bigger platform.

“Discrimination on the basis of race, which DEI does, is literally the definition of racism,” Musk posted in January [2024].

. . .

Ackman has frequently focused on DEI in the context of college campuses, where he says such initiatives foment antisemitism.

For the full story, see:

Tali Arbel. “Diversity Groups Urge Ackman, Musk Pushback.” The Wall Street Journal (Thursday, February 8, 2024): B1 & B10.

(Note: ellipses and bracketed date added.)

(Note: the online version of the story was updated Feb. 7, 2024, and has the title “The Case Against Ackman and Musk’s Anti-DEI Stance.”)

Modern Law Tries to Rule Out Error and Accident at the Expense of Individual Freedom

(p. C9) Philip K. Howard’s “Everyday Freedom: Designing the Framework for a Flourishing Society” is a slim book propounding a colossal, sometimes unwieldy, thesis. Beginning in the 1960s, Mr. Howard argues, American law was transformed from a system designed to guard individual freedom and accountability into one in which bad outcomes are impossible. Modern law, he writes, is “an elaborate precautionary system aimed at precluding human error. Anything that goes wrong, any accident or disappointment, any disagreement, potentially requires a legal solution. Instead of charging officials to do what’s sensible, modern law presumes that the gravest risk is to leave room for judgment of people in positions of authority.”

The consequence, he observes, is a society of people who feel they can’t make decisions without thick rule books explaining best practices and legal protections if their decision turns out badly.

For the full review, see:

Barton Swaim. “Bring Back the Smoke-Filled Rooms.” The Wall Street Journal (Saturday, March 2, 2024): C9.

(Note: the online version of the review has the date March 1, 2024, and has the title “Politics: ‘The Primary Solution’ by Nick Troiano Plus ‘Everyday Freedom’ by Philip K. Howard.”)

The book under review above is:

Howard, Philip K. Everyday Freedom: Designing the Framework for a Flourishing Society. Garden City, NY: Rodin Books, 2024.

Akio Toyoda Had the Courage to Predict the Current EV Debacle

On Nov. 25, 2022, I ran a blog entry that reported on the severe criticism that then-Toyota-President Akio Toyoda [sic] was receiving for his skepticism that charging infrastructure and consumer preferences were ready for an immediate full switch to electric vehicles. Because he had the courage to keep Toyota focused on hybrids, consumers now have more of what they need and want. As a result Toyota prospers. In a capitalist system, firms run by executives with foresight and courage receive their just reward.

(p. B1) TOKYO—Gasoline-electric vehicles are flying off dealer lots in the U.S. and generating a windfall for the reigning hegemon of hybrids, Toyota Motor.

Toyota on Tuesday [February 6, 2024] forecast a record $30.3 billion net profit for the fiscal year ending March thanks to higher sales of hybrid vehicles in all of its major markets. The results sent Toyota shares up 4.8% in Tokyo to close at a record high.

Hybrid sales grew last year at a faster clip than sales for pure electric vehicles in the U.S. and some other markets. Signs have emerged that the EV push might have gotten ahead of U.S. consumers who are worried about charging problems and higher prices. That has steered them toward less expensive hybrids, which can be filled up with gasoline.

Automakers that had been rushing to pivot toward full EVs are now reconsidering. General Motors said last week it would introduce some plug-in hybrid models in North America after facing pressure from dealers. Ford Motor said last year it would seek to quadruple its hybrid sales in the next five years.

For the full story, see:

River Davis. “Toyota Is Cashing In As Hybrid Sales Boom.” The Wall Street Journal (Wednesday, February 7, 2024): B1-B2.

(Note: bracketed date added.)

(Note: the online version of the story has the date February 6, 2024, and has the title “Toyota Cashes In on Booming Hybrid Sales.”)

Firms Develop Technology to Capture, Liquify, Transport, and Sequester CO2 into “Depleted Offshore Oil-and-Gas Wells”

(p. B4) ATHENS—Ship operators have a radical idea for industrial companies that are searching for ways to dispose of carbon emissions: Take the captured CO2 out to sea and bury it deep under the ocean floor.

But first, supercool the carbon emissions to temperatures so low that they become a liquid.

HD Hyundai Heavy Industries, the world’s largest shipyard, and Greece-based shipowner Capital Product Partners have designed a specialized vessel to carry liquefied CO2. They envision such ships transporting their cargo to depleted offshore oil-and-gas wells, where it would be pumped in and entombed for permanent storage. Capital Product Partners signed a deal for four such ships, to be delivered in 2025 and 2026, that together cost more than $300 million.

“Ships move everything from oil to our furniture, clothes and toothpaste. Now they’ll move our emissions, which is in effect waste management,” said Jerry Kalogiratos, chief executive of U.S.-listed Capital Product Partners, which operates more than 100 cargo vessels.

. . .

“The wells are sealed with a fast drying mix of concrete and sand. If there is a leak inland the gas could end up back in the atmosphere, but there is no conclusive research about what will happen if it escapes in the water,” said Fotis Pagoulatos, a naval engineer in Athens. “The consensus for now is that pollution risk at sea from leaked CO2 is low.”

. . .

While no contracts have been signed, Kalogiratos said Capital Product Partners is in talks with a number of European emitters as well as big energy companies in Japan and South Korea.

For the full story, see:

Costas Paris. “Ship Operators Offer to Bury Emissions.” The Wall Street Journal (Thursday, February 1, 2024): B4.

(Note: ellipses added.)

(Note: the online version of the story has the date January 31, 2024, and has the title “A New Solution for CO2 Emissions: Bury Them at Sea.” The online version of the article says that the title of the print version is “Ship Operators Offer to Bury Emissions” but my copy of the print version has the title “Ship Operators Offer to Bury Emissions at Sea.”)