Entrepreneurship – Page 94 – artdiamondblog.com

Blobel Pursued a Slow Hunch for Over 30 Years

(p. B19) Günter Blobel, a molecular biologist who was awarded the 1999 Nobel Prize in Medicine for discovering that proteins in any living cell have virtual ZIP codes that guide them to where they can help regulate body tissues, organs and chemistry, died on Sunday [February 18, 2018] in Manhattan. He was 81.
. . .
The cause was cancer.
. . .
He spent nearly all his working life at Rockefeller University, what he regarded as the Valhalla of research.
Like many scientific advances, Dr. Blobel’s had no moment of “Eureka!” It unfolded over 30 years of painstaking, often frustrating, but occasionally thrilling investigation: a process of building on others’ work, intuitive thinking to form new hypotheses, and testing, using the results to modify his theories, and then testing and modifying again and again.
Driven to find underlying causes of diseases that were being treated for symptoms, and funded by the National Institutes of Health and the Howard Hughes Medical Institute, he successively developed five models of his original “beautiful idea.” Along the way he won many prestigious awards, some for essentially the same insights recognized later by the Nobel committee.

For the full obituary, see:
ROBERT D. McFADDEN. “Günter Blobel, Nobel Laureate Who Found Cell ‘ZIP Codes,’ Dies at 81.” The New York Times (Saturday, Feb. 20, 2018): B19.
(Note: ellipses, and bracketed date, added.)
(Note: the online version of the obituary has a date of Feb. 19, 2018.)

Silicon Valley’s Intolerance of Intellectual Diversity

(p. B4) Billionaire venture capitalist Peter Thiel has said he plans to leave Silicon Valley in part because of its perceived cultural uniformity. He isn’t the only one.
Several tech workers and entrepreneurs also have said they left or plan to leave the San Francisco Bay Area because they feel people there are resistant to different social values and political ideologies. Groupthink and homogeneity are making it a worse place to live and work, these workers said.
. . .
Tim Ferriss, the tech investor and best-selling author of the “4 Hour Workweek,” moved to Austin, Texas, in December, after living in the Bay Area for 17 years, partly because he felt people there penalized anyone who didn’t conform to a hyper liberal credo.
People in Silicon Valley “openly lie to one another out of fear of losing their jobs or being publicly crucified,” said Mr. Ferriss in a recent discussion on Reddit.
. . .
Preethi Kasireddy said she wasn’t surprised when she heard the news that Mr. Thiel is moving to Los Angeles from San Francisco. Ms. Kasireddy, a 27-year-old startup entrepreneur, said she made the same move last November because, like Mr. Thiel, she felt surrounded by people who shared identical beliefs, particularly about how to build a successful company.
Sometimes Silicon Valley venture-capital investors and startup founders “have a certain way of thinking, and if you don’t fit into that way of thinking you’re not in the cool club,” said Ms. Kasireddy, who declined to state her political beliefs but said they didn’t influence her decision to move. She also said she realized many of the resources she needed to build her next project–a blockchain startup–didn’t require her to be in Silicon Valley.

For the full story, see:
Douglas MacMillan. “‘Thiel Isn’t Alone In Tech Departure.” The Wall Street Journal (Tuesday, February 20, 2018): B4.
(Note: ellipses added.)
(Note: the online version of the story has a date of Feb. 18, 2018, and has the title “Like Peter Thiel, Tech Workers Feel Alienated by Silicon Valley ‘Echo Chamber’.”)

Musk Poured PayPal Money into SpaceX and Tesla

(p. A15) Mr. Musk’s first success was X.com, an email payment company. It merged with Peter Thiel’s Confinity to form PayPal–and avoid competition. They had the market to themselves for a long time because fraud, especially from Eastern Europe, was so rampant on early internet payment platforms. They solved the fraud problem and enjoyed an uncontested market, eventually selling for $1.5 billion to eBay .
Then Mr. Musk headed further into the future. He took the nine-figure payout from PayPal and pushed ahead with SpaceX, Tesla and Solar City. Literally his last $20 million went to Tesla in 2008. “I was tapped out. I had to borrow money for rent after that,” he later recalled.
. . .
[Google’s Larry] Page reportedly once told a venture capitalist, “You know, if I were to get hit by a bus today, I should leave all of it to Elon Musk.” He later explained to Charlie Rose he liked Mr. Musk’s idea of going to Mars “to back up humanity.” Good luck with that. But then again, I would love to see them try.

For the full commentary, see:
Andy Kessler. ”Elon Musk’s Uncontested 3-Pointers; What does the Tesla and SpaceX founder have in common with Stephen Curry?” The Wall Street Journal (Mon., Feb. 26, 2018): A15.
(Note: ellipsis, and bracketed words, added.)
(Note: the online version of the commentary has the date Feb. 25, 2018.)

Over-Regulated, Quasi-Governmental Health Sector Is Often Slow in Face of Crisis

The nurse interviewed in the passages quoted below, also appeared at about the same period, on Anderson Cooper’s CNN 360 show. On that she had a wonderful riff on how the hospital was irresponsible in taking so long to get the right protective gear. She says that they could, and should, have gotten it overnight through Amazon Prime.

(p. B4) DALLAS — A nurse who observed and participated in the care of Ebola patients at Texas Health Presbyterian Hospital spoke out publicly on Thursday about what she characterized as inadequate training and infection control there.
. . .
Ms. Aguirre said she and other nurses were “horrified” at the protocols used to care for Ms. Pham. She said they received instruction only once about the proper use of personal protective equipment — gloves, masks, gowns, hoods and shields — before entering Ms. Pham’s room, and then were shown how to remove the potentially contaminated gear while in the room. The garb left a triangle of skin exposed on the front of her neck.
“The very first time I was being instructed to put the stuff on I immediately voiced my concerns,” Ms. Aguirre said. “Why would I be wearing two pairs of gloves, three pairs of bootees, have my entire body covered in plastic, have two hoods on and have an area so close to my mouth and my nose exposed? And they said, ‘We know, we’ve addressed it and basically our verdict on that at this time is we’re taping that area closed.’ “

For the full story, see:
KEVIN SACK. “Controls Poor at Hospital, Nurse Says.” The New York Times (Fri., October 17, 2014): A14.
(Note: ellipsis added.)
(Note: the online version of the story has the date OCT. 16, 2014, and has the title “WHEELS; The Internal Combustion Engine Is Not Dead Yet.” The online version says that the New York print version was on p. A14. My paper, probably the midwest version, was on p. A18.)

Innovations Make Internal Combustion Engines Much More Efficient

(p. B4) . . . gas- and diesel-powered engines are not done yet. Just as electrified cars — whether hybrids or pure battery-powered models — seem headed for market dominance, Mazda announced a breakthrough in gasoline engines that could make them far more efficient. It is the latest plot twist in a century of improvements for internal combustion engines, a power source pronounced dead many times that has persisted nevertheless.
. . .
Mazda said it had made a big advance in a combustion method commonly known as homogeneous charge compression ignition, which would result in gasoline engines that are 20 to 30 percent more efficient than the company’s best existing engines. Researchers around the world have tried to crack this process for years, but it has never really left the laboratory.
Mazda, which now markets no hybrid vehicles, calls the engine Skyactiv-X and says it is scheduled for a 2019 introduction. In simplest terms, the big difference with the new engine is that under certain running conditions, the gasoline is ignited without the use of spark plugs. Instead, combustion is set off by the extreme heat in the cylinder that results from the piston inside the engine traveling upward and compressing air trapped inside, the same method diesel engines use. The efficiency gains come with the ability to operate using a very lean mixture — very little gas for the amount of air — that a typical spark-ignition engine cannot burn cleanly.

For the full story, see:
NORMAN MAYERSOHN. “Advances Mean Plenty of Life Left for Internal Combustion Engine.” The New York Times (Fri., August 18, 2017): B4.
(Note: ellipses added.)
(Note: the online version of the story has the date AUG. 17, 2017, and has the title “WHEELS; The Internal Combustion Engine Is Not Dead Yet.”)

Audacious Heart Surgery During WW II Was Proof of Concept

(p. C9) The battle to operate meaningfully within the heart was a source of wonder and inspiration. Innovative in the extreme, brave to the point of recklessness, only exceptional characters could succeed. Some people claimed that only psychopaths could thrive in this environment. They were correct. More sensitive souls, like John Gibbon, who launched open-heart surgery in 1953, gave up after a spate of child deaths.
Thomas Morris tells this history well. “The Matter of the Heart” provides a thoroughly researched and detailed account of the major advances in cardiac surgery as derived from surgical literature, media reports and textbooks.
. . .
On Feb. 19, 1945, the courageous U.S. military surgeon Dwight Harken was attempting to remove bullets and shrapnel from in and around wounded soldiers’ hearts as a group of senior British surgeons looked on. His operating theater consisted of a ramshackle hut with corrugated iron roof in the English Cotswolds. “Working as quickly as he could, Harken now made a small incision in the heart wall and inserted a pair of forceps to widen the opening,” Mr. Morris recounts. “Through this aperture he introduced a clamp and fastened it around the elusive piece of metal. For a moment all was quiet. And then . . . ‘suddenly, with a pop as if a champagne cork had been drawn, the fragment jumped out of the ventricle, forced by the pressure within the chamber. Blood poured out in a torrent.’ . . . Harken put a finger over it, and picking up a needle started to sew it shut. . . . He discovered that he had sewn his glove to the wall of the heart. Finally his assistant cut him loose, and the job was done. Opening the heart, removing the shell fragment and repairing the incision had taken three minutes. His distinguished guests were deeply impressed: this was surgery of a sophistication and audacity which none had seen before.” This was the case that persuaded the English and American allies that heart surgery was indeed a possibility.

For the full review, see:
Stephen Westaby. “How the Beat Goes On; A daring attempt to pick shrapnel from a soldier’s heart opened the door to cardiac surgery.” The Wall Street Journal (Saturday, Jan. 27, 2018): C9.
(Note: ellipsis between paragraphs, added; ellipses internal two second quoted paragraph, in original.)
(Note: the online version of the review has the date Jan. 26, 2018, and has the title “Review: How the Beat Goes On in ‘The Matter of the Heart’; A daring attempt to pick shrapnel from a soldier’s heart opened the door to cardiac surgery.”)

The book under review, is:
Morris, Thomas. The Matter of the Heart: A History of the Heart in Eleven Operations. New York: Thomas Dunne Books, 2018.

Renewed Tinkering on the Farm

(p. B1) The green tractor trundling across a Manitoba field with an empty cab looks like it’s on a collision course with Matt Reimer’s combine–until it neatly turns to pull alongside so he can pour freshly harvested wheat into its trailer.
The robot tractor isn’t a prototype or top-of-the-line showpiece. It’s an eight-year-old John Deere that the 30-year-old Mr. Reimer modified with drone parts, open-source software and a Microsoft Corp. tablet. All told, those items cost him around $8,000. He said that’s about how much he saved on wages for drivers helping with last year’s harvest.
Mr. Reimer’s alterations, which he hopes to replicate for other farmers this year, are part of a technology revolution sweeping North America’s breadbasket. Farmers, many of them self-taught, are building their own robotic equipment, satellite-navigation networks and mobile applications, moving their tinkering projects out of machine sheds and behind a computer screen.
This homespun hacking–which sometimes leapfrogs innovations by big equipment companies like Deere & Co. and navigation specialists like Trimble Navigation Ltd. –reflects dwindling farm incomes, the low price of electronic hardware and, sometimes, off-season boredom.

For the full story, see:
Jacob Bunge. “Farmers Harvest Homegrown Tech.”The Wall Street Journal (Tues., April 19, 2016): B1-B2.
(Note: the online version of the story was last updated on May 2, 2016, and has the title “Farmers Reap New Tools From Their Own High-Tech Tinkering.”)

Knowledge from Self-Experimentation Should Be Publishable

(p. D4) When Bob Hariri developed a product he thought could be useful as a human-skin replacement for burn victims, he had no trouble finding a subject willing to test it–himself.
An entrepreneur and a neurosurgeon with both a medical degree and a doctorate, Dr. Hariri is one of a number of scientists who have experimented on themselves with new or yet-to-be approved medical products or technologies, and who say such practice can be indispensable in the development of innovative biomedical treatments.
Some scientists are pushing for self-experimentation data to be reported publicly and more systematically to aid scientific progress. Alex Zhavoronkov, chief executive of an aging-research company called InSilico Medicine Inc., and others hope to start a peer-reviewed journal on self-experimentation, where scientists and other qualified individuals would publish high-quality case studies of tests performed on themselves. He plans to launch a crowdfunding operation in the next few months to fund it.
The idea is “to unlock the knowledge [of self-experimentation] that resides there anyway,” says Dr. Zhavrononkov, who takes an old diabetes drug called metformin that is supposed to have antiaging properties, even though it hasn’t been approved for that purpose.
. . .
Advocates say self-experimentation can yield information that is hard to get from a clinical trial. The experimenter feels what it’s like to be the patient and gets insight into how to improve testing procedures. Also, a number of individual reports, when cobbled together, can start to yield a picture of whether a new treatment is likely to work or not, though one wouldn’t rely on those reports alone to conclude safety or effectiveness.

For the full story, see:
Wang, Shirley S. “Why Medical Researchers Experiment on Themselves.”The Wall Street Journal (Tues., January 26, 2016): D4.
(Note: ellipsis added.)
(Note: the online version of the story has the date Jan. 25, 2016, and has the title “IN THE LAB; More Medical Researchers Engage In Self-Experimentation.”)

Musk “Could Be Completely Delusional”

(p. B2) Tesla Inc. on Tuesday [January 23, 2018] unleashed a bold pay package for Chief Executive Elon Musk that again ties his compensation entirely to key performance benchmarks. This time, the goals take the electric-car maker to cosmic heights, including an ultimate aim of hitting $650 billion in market value.
. . .
Mr. Musk could net billions of dollars by hitting only a few of the milestones. Tesla said in a proxy filing the 20.26 million stock options today would have a preliminary value of about $2.62 billion. But if Tesla were to reach the audacious market value of $650 billion–as much as Amazon.com Inc. is worth today–the company said Mr. Musk’s stock award would reap him as much as $55.8 billion fully vested.
That total, however, assumes the company’s shares outstanding won’t be diluted. Tesla has added tens of millions of shares over the past several years, so that total dollar figure is unlikely.
. . .
Mr. Musk is saying, “I want to set an audacious goal, and then if I achieve it, then pay me audaciously,” said John Challenger, a longtime expert in corporate compensation as chief executive of Challenger, Gray & Christmas. “He is in some ways capturing the spirit of Silicon Valley.”
. . .
Mr. Musk had previously committed the company to reaching a market cap of $700 billion, something he reiterated last year. “I could be completely delusional, but I think I see a clear path to that outcome,” he told analysts in May.

For the full story, see:
Higgins, Tim. “Tesla Primes Musk’s Pay for Blastoff.” The Wall Street Journal (Weds., January 24, 2018): B2.
(Note: ellipses, and bracketed date, added.)
(Note: the online version of the story has the date JAN. 23, 2018, and has the title “Elon Musk Could Net Billions by Hitting Tesla’s New Milestones.” Where the wording of the two versions differs, the passages quoted above follow the wording of the online version.)

With Cuts in Red Tape, Firms Invest More

(p. A1) WASHINGTON — A wave of optimism has swept over American business leaders, and it is beginning to translate into the sort of investment in new plants, equipment and factory upgrades that bolsters economic growth, spurs job creation — and may finally raise wages significantly.
While business leaders are eager for the tax cuts that take effect this year, the newfound confidence was initially inspired by the Trump administration’s regulatory pullback, not so much because deregulation is saving companies money but because the administration has instilled a faith in business executives that new regulations are not coming.
“It’s an overall sense that you’re not going to face any new regulatory fights,” said Granger MacDonald, a home builder in Kerrville, Tex. “We’re not spending more, which is the main thing. We’re not seeing any savings, but we’re not seeing any increases.”
. . .
(p. A10) Only a handful of the federal government’s reams of rules have actually been killed or slated for elimination since Mr. Trump took office. But the president has declared that rolling back regulations will be a defining theme of his presidency. On his 11th day in office, Mr. Trump signed an executive order “on reducing regulation and controlling regulatory costs,” including the stipulation that any new regulation must be offset by two regulations rolled back.
That intention and its rhetorical and regulatory follow-ons have executives at large and small companies celebrating. And with tax cuts coming and a generally improving economic outlook, both domestically and internationally, economists are revising growth forecasts upward for last year and this year.
. . .
. . . economists see a plausible connection between Mr. Trump’s determination to prune the federal rule book and the willingness of businesses to crank open their vaults. Measures of business confidence have climbed to record heights during Mr. Trump’s first year.
. . .
“We have spent the past dozen years or longer operating in environments that have had an increasing regulatory burden,” said Michael S. Burke, the chairman and chief executive of Aecom, a Los Angeles-based multinational consulting firm that specializes in infrastructure projects. “That burden has slowed down economic growth, it’s slowed down investment in infrastructure. And what we’ve seen over the last year is a big deregulatory environment.”
. . .
The White House sees its efforts as having their intended effect. Mr. Trump boasted about his deregulatory efforts last month at an event where he stood in front of a small mountain of printouts representing the nation’s regulatory burden and ceremonially cut a large piece of “red tape.”
The chairman of the White House Council of Economic Advisers, Kevin Hassett, said in an interview that the administration’s freeze on new regulations, in particular, appeared to have buoyed confidence. Though he cautioned that it could take years of research to pin down the magnitude of the effects, he said deregulation was “the most plausible story” to explain why economic growth in 2017 had outstripped most forecasts.
“Our view is, the ‘no new regulations’ piece has to be more powerful than we thought,” he said.

For the full story, see:
BINYAMIN APPELBAUM and JIM TANKERSLEY. “With Red Tape Losing Its Grip, Firms Ante Up.” The New York Times (Tues., January 2, 2018): A1 & A10.
(Note: ellipses added.)
(Note: the online version of the story has the date JAN. 1, 2018, and has the title “The Trump Effect: Business, Anticipating Less Regulation, Loosens Purse Strings.”)

Cuts in Red Tape Build Business Confidence

“President Trump described his administration’s deregulation efforts in remarks at the White House on Thursday. He then stood between two piles of paper representing government regulations in 1960, (20,000 pages, he said), and today — a pile that was about six feet tall (said to be 185,000 pages).” Source of caption and photo: online version of the NYT article quoted and cited below.

(p. A22) WASHINGTON — President Trump said on Thursday that his administration was answering “a call to action” by rolling back regulations on environmental protections, health care, financial services and other industries as he made a push to showcase his accomplishments near the end of his first year in office.
The remarks highlighted an area where Mr. Trump has perhaps done more to change the policies of his predecessor than any other, with regulatory shifts that have affected wide sections of the economy.
. . .
Echoing his days as a real estate developer with the flair of a groundbreaking, Mr. Trump used an oversize pair of scissors to cut a ribbon his staff had set up in front of two piles of paper, representing government regulations in 1960 (20,000 pages, he said), and today — a pile that was about six feet tall (said to be 185,000 pages).
. . .
. . . , several economic indicators — and comments from companies large and small — suggest that a shift in federal regulatory policy is building business confidence and accelerating economic growth, developments Mr. Trump certainly took credit for on Thursday [December 14, 2017].
A survey of chief executives released this month by the Business Roundtable found that, for the first time in six years, executives did not cite regulation as the top cost pressure facing their companies.
“C.E.O.s appear to be responding to the administration’s energetic focus on regulation,” Joshua Bolten, the roundtable’s president, said this month.

For the full story, see:

ERIC LIPTON and DANIELLE IVORY. “Most Far-Reaching’ Rollback of Rule.” The New York Times (Sat., DEC. 15, 2017): A22.
(Note: ellipses, and bracketed date, added.)
(Note: the online version of the story has the date DEC. 14, 2017, and has the title “Trump Says His Regulatory Rollback Already Is the ‘Most Far-Reaching’.” The online page for this article says that it appeared on p. A16 of the New York edition. My page number above is from my paper, which was probably the midwest edition.)