Mind Matters Natural and Artificial Intelligence News and Analysis

CategoryBusiness and Finance

big-data-futuristic-visualization-abstract-illustration-stockpack-adobe-stock
Big data futuristic visualization abstract illustration

How AI Changed — in a Very Big Way — Around the Year 2000

With the advent of huge amounts of data, AI companies switched from using deductive logic to inductive logic

In “Hyping Artificial Intelligence Hinders Innovation” (podcast episode 163), Andrew McDiarmid interviewed Erik J. Larson, author of The Myth of Artificial Intelligence: Why Computers Can’t Think the Way We Do (2021) (Harvard University Press, 2021) on the way “Machines will RULE!” hype discredits — and distracts attention from — actual progress in AI. Erik Larson has founded two two DARPA-funded artificial intelligence startups. Inthe book he urges us to go back to the drawing board with AI research and development. https://episodes.castos.com/mindmatters/34ce0d74-aa74-4ad9-9599-e9ddf2be56a7-Mind-Matters-News-Episode-163-Erik-Larson-.mp3 This portion begins at 01:59 min. A partial transcript and notes, Show Notes, and Additional Resources follow. Andrew McDiarmid: Can you paint a picture first for us of what the AI landscape looks like today and why it’s not…

nft-non-fungible-token-stockpack-adobe-stock
NFT | Non-Fungible Token

NFTs: Can They Help You Sell Digital Memorabilia Online?

Non-fungible tokens (NFTs) like Jack Dorsey’s first tweet or Michael Cohen’s prison badge are creating a new market with a need for new rules

At COSM 2021,William Dembski, a mathematician and philosopher who studies cryptocurrencies like Bitcoin and non-fungible tokens (NFTs), offered some thoughts on whether NFTs (non-fungible tokens) can help artists and other creators make a living selling their work on the internet. Are NFTs just “rat poison squared,” as Warren Buffett calls cryptocurrencies? Well, former Twitter CEO Jack Dorsey’s first tweet sold for a reported $2.9 million. It’s complex but navigable. According to Dembski, it might be a way forward. But there are pitfalls. The non-tech part is easy to understand. Just as internet-based subscription services like Substack offer a way for talented writers to make a good living free from censorious mediocrities, so NFTs might help artists market their work in…

devastated kitchen
Devastated kitchen in a demolition house

Zillow’s House-Flipping Misadventure

People know more about their homes and neighborhoods than algorithms could possibly know

Zillow has become the largest real estate website in the United States, with detailed data on millions of homes including square footage, number of bedrooms, number of bathrooms, year built, and price and tax history. If the home is or has been offered for sale or rent, there are also interior and exterior photographs and more. Zillow uses its massive database to provide proprietary computer-generated estimates of market values and rental values. When Zillow went public in 2011, its IPO filing with the SEC boasted that, [O]ur algorithms will automatically generate a new set of valuation rules based on the constantly changing universe of data included in our database. This allows us to provide timely home value information on a massive…

Jack Dorsey

Jack Dorsey Resigns from Twitter: “now is the right time”

Some are concerned that his replacement is bad news for free speech

On Monday, Jack Dorsey announced his resignation as Twitter CEO, explaining that he has “worked hard to ensure this company can break away from its founding and founders” and that “now is the right time.” “I want you all to know that this was my decision and I own it,” wrote Dorsey in an email to his colleagues that he then posted to Twitter. “It was a tough one for me, of course. I love this service and company… and all of you so much. I’m really sad… yet really happy. There aren’t many companies that get to this level. And there aren’t many founders that choose their company over their own ego. I know we’ll prove this was the right move.”…

flag-of-china-and-clock-stockpack-adobe-stock
Flag of China and clock

Gingrich at COSM: China Is the Greatest Threat to Global Freedom

Newt Gingrich fears America will lose to China. George Gilder argues that thinking that way is self-defeating and stupid

At COSM 2021, philosopher of technology George Gilder and political analyst Newt Gingrich sparred over U.S.–China relations. Gilder and Gingrich, a former U.S. Congressman, exemplify the two predominant views on China today. Former Speaker of the U.S. House of Representatives and author Gingrich says the U.S. should decouple from China, while economist and author Gilder sees collaboration with China as our best — and only — option. Gingrich: Optimism about a more open China is waning In his opening remarks, Gingrich recalled that he was once an optimist that Chinese reformist leader Deng Xiaoping’s opening up strategy would usher in a more democratic China because Communism was incompatible with a free market economy. But, Gingrich, who has been a history…

industry-metallurgical-plant-dawn-smoke-smog-emissions-bad-ecology-aerial-photography-stockpack-adobe-stock
industry metallurgical plant dawn smoke smog emissions bad ecology aerial photography

Physicality Of Data And The Road To Inherently Safer Computing

The software industry today is precisely where the chemical industry was in 1978; hazard control is a mere afterthought

“The Physicality Of Data And The Road To Inherently Safer Computing” was originally published by Forbes, August 24, 2021. David Kruger is Co-Founder and VP of Strategy for Absio Corporation and a co-inventor of Absio’s Software-defined Distributed Key Cryptography (SDKC). Our current concept of cybersecurity is to defend against attacks and remedy failure by erecting more and better defenses. That’s a fundamental mistake in thinking that guarantees failure. Why? Because it’s mathematically impossible for a defensive strategy to fully succeed, as explained in the previous installment of this article series. Another even more fundamental mistake in thinking is that cyberattackers are the cause of our woes. They aren’t. They’re the effect. A hazard is a potential source of harm. Cyberattackers target certain…

dvd drive and pda
Laptop with pendrive, sd card, CD and portable hard drive. Concept of data storage

The Physicality Of Data And The Road To Personal Data Ownership

“The Physicality Of Data And The Road To Personal Data Ownership” was originally published by Forbes, July 2, 2021. David Kruger is co-founder and VP of Strategy for Absio Corporation, and a co-inventor of Absio’s Software-defined Distributed Key Cryptography (SDKC). This article is the first in a series on the physicality of data. I’ll follow up with additional installments of this series over the next several weeks, so check back to see those as they become available. All of us tend to conflate the word “data” with the word “information.” Usually, that’s OK, but collapsing data on a computer and information into one thing rather than two separate things makes thinking accurately about data ownership difficult. Here’s why: Information is…

machine-learning-systems-and-accurate-facial-recognition-concept-smart-phone-with-blue-screen-and-blur-human-faces-background-stockpack-adobe-stock
Machine learning systems and accurate facial recognition concept , smart phone with blue screen and blur human faces background

Facebook (Meta) is strengthening, not dumping facial recognition

They’re getting rid of the annoying parts but read the fine print

Jerome Pesenti, Facebook’s VP of Artificial Intelligence, explains the changes to the face recognition system that have accompanied the very recent brand name change from Facebook to Meta: In the coming weeks, Meta will shut down the Face Recognition system on Facebook as part of a company-wide move to limit the use of facial recognition in our products. As part of this change, people who have opted in to our Face Recognition setting will no longer be automatically recognized in photos and videos, and we will delete the facial recognition template used to identify them. This change will represent one of the largest shifts in facial recognition usage in the technology’s history. Jerome Pesenti, “An Update On Our Use of…

competition-between-humans-and-robots-in-tug-of-war-concept-stockpack-adobe-stock
Competition between humans and robots in tug of war concept

Robots Will NOT Steal Our Jobs, Business Analysts Show

Doomsayers typically do not factor in all components of the job that a robot would have to replace or all of the true costs of trying, they say

At Fast Company, data analyst Jeffrey Funk and business prof Gary N. Smith dispute the claim that robots are coming for all our jobs. They point to a history of overblown claims: In 1965, Herbert Simon, who would later be awarded the Nobel Prize in Economics and the Turing Award (the “Nobel Prize of computing”), predicted that “machines will be capable, within 20 years, of doing any work a man can do.” In 1970, Marvin Minsky, who also received the Turing Award, predicted that, “in from three to eight years we will have a machine with the general intelligence of an average human being.” The implications for jobs were ominous, but robotic-takeover predictions have been in the air for a…

seattle-skyline-at-sunset-with-space-needle-stockpack-adobe-stock
Seattle Skyline at Sunset with Space needle

Venture Capital Manager at COSM 2021 to Listen and Learn

The Managing Director of Seattle-based Madrona Venture Group will moderate two panels on new technologies that can shake things up

In 2019, Madrona’s Matt McIlwain moderated a panel at the COSM 2019 Technology Summit, “AI’s Role in Unlocking Human Potential.” The panel followed tech pioneer and prophet Ray Kurzweil’s livestreamed address in which he predicted that we will merge with our computers by 2045 — The Singularity: “Our intelligence will then be a combination of our biological and non-biological intelligence,” he explained. We will be apps of our smart computers. Or will we? And if that happened, would it be progress? Already, we freak out when we can’t find our phones, or our computers crash, or the internet is down. Or the power goes off. Yet Isaac Newton changed physics with a pen and paper. So did Albert Einstein. McIlwain…

unicorn-stockpack-adobe-stock
unicorn

Tech Stocks: Are the Unicorns Losing Their Horns? Their Magic?

Jeffrey Lee Funk and Gary N. Smith reveal at MarketWatch that widely publicized, iconic unicorns have never made money or made only a little

Technology consultant Jeffrey Lee Funk and Pomona business prof Gary N. Smith are not exactly bullish on the new high tech-dependent startups (unicorns) that everybody talks about. Lots of media interest and commentating, sure, but where’s the money? In a recent op-ed at MarketWatch, Funk and Smith warn, “Unicorn losses are unprecedented in the history of U.S. startups and threaten stock markets and the economy.” Not what you heard? Think about this then: The authors, regular contributors at Mind Matters News, point out that many investors and analysts worry about China’s Evergrande Group’s current woes ($300 billion in liabilities). But Evergrand was once profitable. And the Ubers and Airbnbs? They’ve never been profitable and the liabilities are growing: Unicorn losses…

blockchain-cryptocurrencies-bitcoin-and-distributed-ledger-technology-conceptblock-chain-network-connect-icons-and-earth-furnished-by-nasa-stockpack-adobe-stock
Blockchain , cryptocurrencies , bitcoin and distributed ledger technology concept..Block chain , network connect icons and earth furnished by NASA.

Is Bitcoin Just a Flash in the Pan? Peter Thiel Responds

He reveals that PayPal started out as a libertarian project to free money from central control but that proved harder than anticipated

In this fourth and final episode based on his talk at COSM 2019, Peter Thiel — who founded PayPal in part to help break up currency monopolies — offers some thoughts on cryptocurrencies’ future. In the earlier episodes of his discussion at COSM 1919 with philosopher of technology George Gilder, top venture capitalist Peter Thiel offered Three Contrarian Ideas: 1.Big Tech, as it operates today, is communist. 2. Big Tech is also slowing down. And 3. Learning today has almost nothing to do with the so-called educational system. Now, about the future of cryptos: This portion begins at 27:21 min. A partial transcript and notes, Show Notes, and Additional Resources follow. George Gilder: Peter, you started PayPal, in part to…

old-fashioned-telephones-mounted-on-wall-stockpack-adobe-stock
Old-fashioned Telephones Mounted On Wall

COSM: The Trek From Phone to Smart Phone: What Have We Learned?

Daniel Berninger, a pioneer and activist in VOIP communications, shares his insights about keeping the internet free and accessible

Daniel Berninger, an activist in the transition from plain old telephone service (POTS) to the online world of the cell phone (“disruptive communications”), will be speaking at COSM 2021. He has been involved in VoIP (Voice over Internet Protocol) since 1995, starting with the original assessment of VoIP at Bell Laboratories and was a founder of the VON Coalition, “keeping IP communications free from government regulation.” He is a frequently cited resource on regulatory, antitrust, and VoIP issues (for example, in Business Week, WSJ, LA Times, Chicago Tribune, Bloomberg, Forbes, Associated Press, Dow Jones, Info World and the trade press). He is also a founder of VCXC (Voice Communication Exchange Committee). His interests and approach: ➤ the decline of the…

businessman-in-blue-shirt-is-holding-a-magnifying-stockpack-adobe-stock
Businessman in blue shirt is holding a magnifying

Top Venture Capitalist on Tackling the Big, Corrupt Universities

Peter Thiel: Online education is great for learning, but unfortunately, learning has almost nothing to do with the so-called educational system

In this third episode — on Peter Thiel’s Third Contrarian Idea — philosopher of technology George Gilder revisits world class tech venture capitalist Peter Thiel’s live streamed talk at COSM 2019 in “ The failures and self-hatred of Big Tech.” In the first episode, Thiel noted that the way Big Tech operates today has more in common with a communist state than with a democracy. So his First Contrarian Idea, set out there, is that decentralization is coming. In the second episode, he talked about his Second Contrarian Idea: If you look at the big picture over the past few years, Big Tech’s progress is slowing. That’s not the hype we hear but then Thiel didn’t make nearly $4 billion…

Planet Earth from Space People's Republic of China highlighted, elements of this image courtesy of NASA
Planet Earth from Space, People's Republic of China warm glow highlighted state borders and counties animation, city lights, 3d illustration

LinkedIn Says Goodbye to China

If the blasé business world of LinkedIn cannot pass the Cyberspace Administration of China’s rules, then what platform can?

LinkedIn announced that it will no longer host social media and content sharing in China. Instead, it’s China-only app will be a job-board site. This comes after LinkedIn received criticism for blocking certain researcher profiles in China as well as human rights advocates and journalists who write on China. LinkedIn, which was bought by Microsoft in 2016, was one of the only U.S.-based social media outlets still operating within China. Twitter, Facebook (including Instagram, WhatsApp), and YouTube (owned by Alphabet, Inc.) are banned. Google (also owned by Alphabet, Inc.) left in 2010. Signal and Clubhouse were banned in 2021. Other apps, such as TikTok (owned by ByteDance, Inc.) have their own Chinese version that complies with censors and data regulators.…

datenverkehr-im-internet-im-schneckentempo-stockpack-adobe-stock
Datenverkehr im Internet im Schneckentempo

Peter Thiel Says, Forget the Hype: Big Tech Is Slowing Down

Second Contrarian Idea: We can see the slowdown clearly if we look past the hype

Philosopher of technology George Gilder revisits world class tech venture capitalist Peter Thiel’s live streamed talk at COSM 2019 in “ The failures and self-hatred of Big Tech.” Ih the first part, Thiel noted that the way Big Tech operates today has more in common with a communist state than with a democracy. His First Contrarian Idea, set out there, is that decentralization is coming. In this part, he talks about his Second Contrarian Idea: If you look at the big picture over the past few years, Big Tech’s progress is slowing. Thiel, the author of Zero to One (2014) will attend COSM 2021 (November 10–12) in person this time, along with Gilder. Note: You can get the best rate…

army-of-artificial-workers-stockpack-adobe-stock
army of artificial workers

Peter Thiel: Big Tech, As It Operates Today, Is Communist

Visions of the computer age have swung from big centralization in 1969 through big decentralization in 1999. Neither got it quite right, Thiel says

Philosopher of technology George Gilder revisits world class tech venture capitalist Peter Thiel’s live streamed talk at COSM 2019 in “ The failures and self-hatred of Big Tech.” Thiel, the author of Zero to One (2014) will attend COSM 2021 (November 10–12) in person this time, along with Gilder. Note: You can get the best rate if you register before October 31. The focus of the 2021 meet will be the paradoxes of the new world of technology. As we will see, Thiel is an expert at defining that world. This is the first of a four-part series on his view of the future, starting with his First Contrarian Idea, that the way Big Tech operates today is communist and…

surprised-african-american-man-in-denim-jacket-looks-at-receipt-total-in-sales-check-holding-paper-bag-with-products-in-mall-stockpack-adobe-stock
Surprised African-American man in denim jacket looks at receipt total in sales check holding paper bag with products in mall

A Market Analyst Explains Why You Should Take Inflation Seriously

Bernard Fickser looks at the tech companies that are worth astonishing amounts, unrelated to their current product lines

Readers may remember Bernard Fickser from his series on non-fungible tokens (NFTs) and how they can be made to work better. Now he looks at a more serious problem, the current (quiet) capitalization crisis: the growth in the perceived market value (market caps) of tech companies, far beyond the market value of any assets they have. He recalls the famous (and costly) Dot.com Bubble (1995–2000), when “tech and internet companies that had no actual products or prototypes or detailed plans for products were receiving enormous valuations simply on a promise and a prayer.” Many prayers went unheard and small investors suffered huge losses. Business prof Gary Smith highlights Bill’s Barber Shop in 2000, where locals had reckoned on secure prosperity…

flags of Soviet Union and China

Xi Jinping’s Ruthless March Toward “Common Prosperity”

Part II: The roots of Xi Jinping's "common prosperity" vision and why he's making changes to China's technology sector now

In my previous article we looked at the sweeping crackdown of China’s technology sector, beginning with Jack Ma and Ant Financial, and how this is part of Xi Jinping’s goal of “common prosperity.” While corruption and debt excesses needed to be reined in and people wanted better data privacy protections, Xi’s common prosperity initiative is also about concentrating power, redistributing wealth, and controlling the unpredictable market. In this article we’ll look at the roots of common prosperity and why analysts believe Xi is making these changes now. Appealing to the Working Class In his speech celebrating the hundredth anniversary of the founding of the Communist Party in China, Xi said that the Party will make “notable and substantive progress toward achieving well-rounded human…

LIJIANG,CHINA-FEB 18:Mao statue,with the slogan on wall: " Long live the great Communist Party of China" in Lijiang on Feb 18 2012. Mao, a statesman who laying the foundation of new china

Will China’s Huge Tech Sector Crackdown Stifle Innovation?

Part I: How will the Common Prosperity program really play out in the private sector?

Didi Chuxing (Didi Global, Inc.), the largest ride-hailing company in the world, was reprimanded when it opened on the New York Stock Exchange after regulators warned it needed to shore up its data security issues. Meituan, China’s massive shopping and coupon app, was recently fined $533 million for “anticompetitive behavior.” Alibaba, owned by tech billionaire Jack Ma, had to pay a $2.8 billion fine for the same reasons. Antitrust regulators dinged Tencent, Baidu (China’s Google alternative), ByteDance (parent company for TikTok), and ecommerce company JD.com Inc.  The billion-dollar online private tutoring industry sank after the Chinese government declared that after-school tutoring is now non-profit only. Then the online gaming industry was hit when the Chinese government declared children are only allowed to play for a few…