Borge’s Map

“we now use the country itself, as its own map, and I assure you it does nearly as well”

Ubiquitous Sensing. The number of Internet-connected devices hit 8.7 billion in 2012. IP-enabled sensors are projected to exceed 50 billion by 2020. The number of sensors of all types is variously projected at between 1 trillion and 10 trillion between 2017 and 2025. The lower estimate translates to 140 sensors for every man, woman, and child on the planet.

Ubiquitous Connectivity. Mobile broadband subscriptions reached 2.3 billion in 2014—five times the number in 2008. The smartphone is the fastest-adopted technology ever; the biggest absolute growth is in India and China. At the end of 2014 there were nearly 7 billion mobile-cellular subscriptions globally—nearly one per person on Earth.

Convergent Data. The world’s production of data grew 2,000-fold between 2000 and 2012. Its stock of data is expected to double every two years; 99 percent of it is digitized and half has an IP address. This means that half of the world’s data can now be put together, at near-zero cost, to reveal patterns previously invisible. Half of the world’s data is already, technically, a single, universally accessible document.

borges map




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.

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


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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images (1)


Luck is an event that meets three tests:

(1) some significant aspect of the event occurs largely or entirely independent  of the actions of the key actors in the enterprise ,

(2) the event has a potentially significant consequence (good or bad), and

(3) the event has some element of unpredictability.

Return on luck. Great by Choice, Collins and Hansen

Ants with Megaphones

“For a generation of cutomers used to do their buying research via search engine, a company’s brand is not what the company says it is, but what Google says it is.

The new tastemakers are us.

Word of mouth is now a public conversation, carried in blog comments and customer reviews, exhaustively collated and measured.

The ants have megaphones.

The Long Tail, pg 99