Digital Economy

Accrual

Accrual or accumulation of something is, in financial terms, the adding together of interest or different investment sources over a period of time.

It holds specific meanings in accounting, where it can refer to accounts on a balance sheet that represent liabilities and non-cash-based assets used in accrual-based accounting. These types of accounts include, among others, accounts payable, accounts receivable, goodwill, deferred tax liability and future interest expense.

For example, a company delivers a product to a customer who will pay for it 30 days later in the next fiscal year, which starts a week after the delivery.
The company recognizes the proceeds as a revenue in its current income statement still for the fiscal year of the delivery, even though it will get paid in cash during the following accounting period. The proceeds are also an accrued income (asset) on the balance sheet for the delivery fiscal year, but not for the next fiscal year when cash is received.

Similarly, a salesperson, who sold the product, earned a commission at the moment of sale (or delivery). The company will recognize the commission as an expense in its current income statement, even though the salesperson will actually get paid at the end of the following week in the next accounting period. The commission is also an accrued expense (liability) on thebalance sheet for the delivery period, but not for the next period when the commission (cash) is paid out to the salesperson.

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Limits Nor Morality

David Ricardo’s insight into the price of land is nevertheless interesting: the “scarcity principle” on which he relied meant that certain prices might rise to very high level over many decades.

This could well be enough to destabilize entire societies. The price system plays a key role in coordinating the activities of millions of individuals –indeed, today, billions of individuals in the the global economy.

The problem is that the price system knows neither limits nor morality.

It would be a serious mistake to neglect the importance of the scarcity principle for understanding the global distribution of wealth in the twenty-first century.

To convince oneself of this, it is enough to replace the price of farmlands in Ricardo’s model to the price of urban real estate in major world capitals, or, alternatively, by the price of oil.

In both cases, if the trend over the period 1970-2010 is extrapolated to the period 2010-2050 or 2010-2100, the result is economic, social, and political disequilibria of considerable magnitude, not only between but  within countries– desequilibria that inevitably call to mind the Ricardian apocalypse.”

Thomas Piketti, Capital in the 21st century

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Subjective Experience

“The objective reality is the reality of the outside observer observing the process.

If we observe the development of an individual, salient events happen very quickly at first,

but later on milestones are more spread out, so we say time is slowing down.

The subjective experience, however, is the experience of the process itself,

assuming, of course, that the process is conscious.”

— Ray Kurzweil

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The Three Laws of Technology

When a scientist states that something is possible, he is almost certainly rigth.

When he states that something is impossible, he is very probably wrong.

The only way of discovering the limits of possible is to venture a little way past them into the impossible.

Any suficiently advanced technology is indistinguishable from magic.

— Arthur C. Clarke’s three laws of technology

The Age of Intelligent Machines, Ray Kurzweil

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Fail early and often

because failure is the stepping stone to success.

“You can fix it now with an eraser, or you can fix it later

with a sledgehammer.”

–Frank Lloyd Wright

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Netflix stays in the picture

I have Netflix at home, my kids prefere it than cable television, as well as I prefere to get rid of commercial intervals. I basicaly watch kids content.The content is of good (average) quality, even though I think it have to get better, especially in the kids section. Over all, the price factor is really attractive, and the hardware independence is something very subtle and interesting.
The best part is to eliminate conventional broadcasters and their sponsors.

Long live to technology.

Google’s Self-Driving Car – the future of Singapore roads

“For future generations, humans driving cars will be a ridiculous thing,”
— Sebastian Thrun, Google Engeneer

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By Russell Ang

Case Study: The Google self-driving car is a project by Google that involves developing technology for robotic cars.  The project is currently being led by Google engineer Sebastian Thrun, director of the Stanford Artificial Intelligence Laboratory and co-inventor of Google Street View.

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Ambition

“As soon as there is life there is danger”

–Ralph Waldo Emerson

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Albert Einstein Quotes

“Two things are infinite: the universe and human stupidity; and I’m not sure about the universe.”

“If A is a success in life, then A equals x plus y plus z. Work is x; y is play; and z is keeping your mouth shut.”

“Not everything that counts can be counted, and not everything that can be counted counts.”

Physicists from CERN team up with TED-Ed to create five lessons that make particle physics child’s play

The beginning of the universe, for beginners.
Another great v-log from TED-Education

TED Blog

Particle physics. To some, the words may produce anxiety. And while, yes, it is complicated — it is far from incomprehensible. On May 3, the European Laboratory for Particle Physics, better known as CERN, held its first TEDx event, an illuminating look at how particle physics intersects with other disciplines.

As part of TEDxCERN, physicists from the famous institution, home of  the Large Hadron Collider (and birthplace of the Word Wide Web), teamed up with animators from TED-Ed to create easy-to-understand animated lessons that explain concepts like dark matter, big data and the Higgs boson in lay terms.

Below, watch all five animations and find out: How did the universe begin? What’s up with antimatter? And why is everyone so excited about the Higgs boson? Enjoyable whether you are new to these terms or have been studying them for years.

The beginning of the universe, for beginners.

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