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      "body": "@@ -26,47 +26,36 @@\n  of \n-this talk: https://youtu.be/k9txNi7eyww\n+a TEDx talk I gave recently.\n %0AI w\n",
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      "author": "tinc",
      "body": "I wasn’t supposed to be here.\nCuriosity nearly killed me several times over.\nI was three when I was electrocuted for the first time.\nI found a key and wanted to see if it will open the power socket.\n![Open Socket.png](https://cdn.steemitimages.com/DQmeBVUFQVC3FdU7YfUMPUzZM7wUNcCAFXgWhmbtHK5jX8i/Open%20Socket.png)\nIt did not.\n![Pow.jpg](https://cdn.steemitimages.com/DQmdUyiprbRJ4AKMcCxVdMvhd4SuyN5p4sYAKSKi6rgDZU7/Pow.jpg)\nA year later, I was maybe four or five,\nI was digging a hole in the ground with a friend.\nHe used a shovel\nI was clearing the dirt.\nFor a while, we worked in wonderful synchronicity.\nAnd then\n![Beetle.png](https://cdn.steemitimages.com/DQmQjTpsjXDB6DmL62Ks6UQQHR6xU914xDLgAq16w1NKNRc/Beetle.png)\nI saw the beetle.\n![Pow.jpg](https://cdn.steemitimages.com/DQmdUyiprbRJ4AKMcCxVdMvhd4SuyN5p4sYAKSKi6rgDZU7/Pow.jpg)\nThat was the first time I cracked my head.\nBy the time I was thirteen I had been bitten by a scorpion and several rodents, broke my arm so bad I nearly lost it and cracked my head again - several times.\n![age 13.jpg](https://cdn.steemitimages.com/DQmRDVkKWeubLS4YVZkRLdNgyu2ZhwfHkWqhkE5n3vaKHVM/age%2013.jpg)\nHere’s the thing, I didn’t learn - I still don’t.\nNo matter how many times I got hurt - soon enough I forgot and follow my curiosity’s beetle - surprised each time by the pain. \nMy Name is Shahar Larry\nOver the past 20 years, I led and was involved in hundreds of innovation projects, in dozens of industries - both with some of the world’s largest multinationals and with super cool tech startups.\nI failed far more than I succeeded.\nToday I will share what I learned from my ten thousand hours.\nI will bust the “Innovation is awesome” myth - we celebrate innovators, curiosity, and creativity and at the same time, we reject them. Moreover, we're terrible at innovating.\nI will propose that the reason we are so bad at innovation is a toxic combination of distracting metrics and incentives.\nFinally, I will lay out a framework for a better innovation ecosystem - one that is more productive, just and less susceptible to distractions. I will also present a barrier to realizing this Innovation fantasy and how we could overcome it.\nOK, no time, let’s start with busting the \"innovation is awesome\" myth.\nWe don’t like innovation.\nHow do I know this?\nBecause of this:\n![DOI.png](https://cdn.steemitimages.com/DQmPeLdTtWEHHLeinGfQhE2wMsuFU5eLXBqvzTZ266io3S9/DOI.png)According to  Rogers’ Diffusion of Innovations theory, there are different types of people when it comes to adopting innovation.\nThe innovators are first to try. They get excited by new things, and they welcome change. But, they make up only two and a half percent of the population.\nNext, we have...well...everyone else. That’s my point. The rest aren’t adopting innovation - they are willing to try it only after someone else did. We like to like innovation but when it comes to adopting it - we’d rather wait till it’s no longer new or risky.\nWe also don’t really like innovators - people who think differently.\nI got suspended from every school I ever attended. \n![DONTLIKE.png](https://cdn.steemitimages.com/DQmVPTzR9xUe2YrB3RsakgvDuS2bteKZeAFhEhy8maKkzGN/DONTLIKE.png)I kept saying the wrong things - questioning what my teachers and peers thought was obvious. Being a source of disruption, my mother was so frequently called to school, some of the teachers were sure she was on staff.\nSoon enough I learned to recognize when I was about to ask or say something that would get me into trouble.\nI still did it.\nI wasn’t brave.\nI just couldn’t resist.\nThey say, Sergey Brin and Larry Page,\npitched 350 times before they got funding for Google.\n![SBLP.png](https://cdn.steemitimages.com/DQmS648iCTw2JDugNFPkaHWmGjdJYZ58nuwvSHXxPskHmAy/SBLP.png) It’s not a story of entrepreneurial tenacity. It’s a story of investors rejecting them 349 times. Every investor will tell you - they always look for a team they can trust. What Brin and Page offered was so new, the investors had to reject it, reject them. \nWhy didn’t they just give up?\nA few years ago, while I was bootstrapping a tech startup, a friend asked me how I was doing, and I said: “I feel like I swam into the ocean and I can’t see the shore anymore”\nSo, he said - “that sounds awful”\nI was really surprised.\n“no, no, you don’t understand - it’s fine - I mean that there’s no point going back - what if the other end is closer”.\nAgain, I wasn’t being brave.\nI was unaware of the risk.\nInnovators are not\n![STRM.jpg](https://cdn.steemitimages.com/DQmXxbodrtCiyV8QdQTGdvug9XgMVHmx51TnWRyXdDBW77G/STRM.jpg)\nrugged pioneers braving the storm.\nInnovators are\n![KID.jpg](https://cdn.steemitimages.com/DQmPna2RwprJ9PUAYqN9j5WB4cGFC1UkumNG8ZnRz4Yaugb/KID.jpg)\nirresponsible child-like fools sailing into the ocean in a cardboard box - totally unaware of the risk and shocked to discover they are drowning.\nOK, I also said that we are really bad at innovating.\nLet’s look at some numbers:\n![NUMBRS.jpg](https://cdn.steemitimages.com/DQmadjkHnCgGojWPaK73Ldr5JFH7Bdd6qfbSV4qJatmYjhN/NUMBRS.jpg)\nIt takes anywhere between three thousands to twenty thousand ideas, hundreds of experiments, patents and dozens of major development investments to generate around ten new product launches, of which around one will be commercially successful.\nStartups aren’t doing much better.\nA study by TechCrunch, reviewing thirty thousand startups, shows that nearly eighty percent of them that raised seed money, failed to raise series A. It means they were dropped by their investors.\nHere’s the bottom line: the overwhelming majority of corporate innovation projects and startups remain unfunded. The few that get funded hardly ever make it to the market.\nVCs and captains of industry set our innovation agenda. They play the “select the best innovation” game. Unfortunately for us - they’re not very good at this game. And it’s us that are left paying for it. First, when great innovations get buried. Again, when we pay more for products and services to offset these losses. And yet again, when you consider that our pension funds are the biggest VC investors...\nWhy is this happening?\nThere are three types of actors in this world:\nThe money people:  VCs, corporate venturing, angel investors and the likes.\nThe market people - the big brands\nThe Innovation people - the founders, entrepreneurs, the fools\n![Players.png](https://cdn.steemitimages.com/DQmZ6Rsta1r4RcCDNYmEwb3F7KRYqS8poW82iK2rnjS96dS/Players.png)\nThey each have an angle – the one thing they do best.\nFor the money people, it’s, well, raising money. Remember, before they invest, they have to raise a fund.\nFor the market people, it’s bringing innovation to the market.\nFor the innovation people, it’s their different perspective.\n![Powers of players.png](https://cdn.steemitimages.com/DQmWGi7JZYoFtNWVd19QswrGKqhVPCnxs3deorPgwxzaa2A/Powers%20of%20players.png)\nThey also have drawbacks.\nThe money and the market people have the same weakness - they are very bad at spotting valuable innovation.\nIt’s not their fault - they are distracted by their incentives. You see, the pay they get for a big exit or a spike in the share price, overshadows any other incentive. They are conditioned to maximize short-term ROI. In-fact, I can, right now, offer startups a quick advice - if you got VC funding make sure they always see you as a big exit ticket - otherwise they will drop you.\nThe Innovation people are usually novices in building a business - most of them have no or very little experience in fundraising, marketing, sales or even recruitment and general management.\n![ng.jpg](https://cdn.steemitimages.com/DQmfChd42RbCzg2bUVVgBvwMmFmNkvs9hWAPaM6h7fT76ru/ng.jpg)\nSo here’s why we are so bad at innovation:\nThe money and market people end up doing the one thing they are least equipped to do - filtering innovation. Their game is all about reducing risk and focusing on the “sure thing” - which almost never works.\nThe innovation people quickly become obsessed with one question: did you raise money? Something they are not very good at and that they hate doing. And if they do raise money, they now need to spend it. Effectively. So that their innovation makes it to the market. Are they the best, most experienced people to do that?\nThis is the Innovation failure in a nutshell - the right people misapplying their talents because of bad metrics and even worse incentives.\n\nOk, so it turns up that the innovation ecosystem is broken.\nNow, I know what some of you are thinking – it’s not broken – that’s simply how the game is played.\nBut what if there was a better way?\nDon’t answer that – it was rhetorical.\nThere is – and it comes from one angle we didn’t consider.\nThe Innovators can innovate without the corporations and VCs.\nThink about it.\nMost startups never get funded.\nThe silent majority of innovators in the world are already active without any support.\nWe almost never hear about them, because without support, most of them fail.\nWell, it turns out there’s more than one way to get support.\nAlthough blockchain and cryptocurrencies started driving significant innovation activity as early as 2010, for five years there were almost no corporate or VC investments.\nThe Vitaliks of the world  - he co-founded Ethereum when he was 19 – were ignored.\nIn 2015 this community got tired of waiting and launched the first ICOs - Initial Coin Offerings. Just like that a new, crowd-based funding mechanism was born.\nYes, I know, some ICOs and crypto-tokens are scams. Every gold-rush attracts unsavory characters. Bad things happened, and they will happen again. \nStill, in 2016 fifty ICOs raised a hundred million dollars. In the nine months of 2018, we’ve seen almost 800 ICOs raising over 20 billion dollars.\n![icos.jpg](https://cdn.steemitimages.com/DQmXAM1rjYaneRB6nG3ZyvpXff4xLoivKS2ZD2nBDYhnru7/icos.jpg)\nWhen backed into a corner, innovators will fight back and find a way.\nThey were able to do that because the internet, mobile phones and peer-to-peer technologies such as blockchain allow us to collaborate more easily than ever before. For the first time in history, all of us, any of us, are free to be big - “Libery de-esere garndi” - with corporations and VCs, but no longer depending on them.\n\nSo, if we are truly free - what would a fantasy innovation ecosystem look like?\nIt must be focused on and measured by its ability to deliver high-impact innovation.\nIt must be able to measure and incentivize according the added value of each contribution.\nMoney people would raise money.\nThe corporations would focus on commercializing innovations – providing services ranging from production and logistics to sales and marketing.\nThe innovators will be free to do what they do best - finding better ways of doing things. They will no longer be responsible for fundraising, or commercialization.\nSelecting which innovation is worth investing in will be a joint effort of all the actors, professional experts, data-driven insights and the user community.\nBlockchain technology could be a great platform for this Innovation Fantasy. In a nutshell, blockchain is a way to keep records - history of transactions - that is decentralized and designed to make it almost impossible to manipulate. Without single, central control, and with immutability, it will ensure no one has an unfair advantage.\n![aslfis.png](https://cdn.steemitimages.com/DQmPWKKHHMdUiABia56CVFC8QoLwkxC5Fj7f8H5JqXSsks4/aslfis.png)\nJust imagine - A decentralized, open, free, merit-based, high-impact innovation ecosystem.\nSounds awesome – but remember, I started with busting one awesome myth – So, this fantasy may sound great, but how will it all fit together. Indulge me, because I think the tougher question is not how will that work, but can it work. I talked about rewards being proportional to value being created. But can we measure that?\nThink about it, in any given hour I can create huge value, no value, or destroy value. Measuring innovation with time or with the amount of money or resources invested in it, is not telling us much about the real value. We use these metrics because we have no other and because they fit nicely in an excel. We can analyze them. \nThat is the crux.\nWe are using analytical tools while trying to solve a problem, that I suspect, is not analytical.\nWhat if we just took a guess. For example, decide to divide the value equally between the three groups – each taking a third of the future profits. Then, record the actions they take, resources they invest, the community’s rating of the value of their contribution and perhaps also expert opinion. Mix it all together and rate their contribution. Now, I am not saying that this tariff will be the right one. We can unleash it in the ecosystem and see if the people active in the ecosystem are happy with it, are more productive and a bunch of other telling variables. I am talking about a changing, learning algorithm that adapts to reactions until it optimizes its yield.\nGiven the state of things today - improving should not be difficult. \n![innov.jpg](https://cdn.steemitimages.com/DQmU1uCpDmF4xfbmF2Pdo16ep5ntogWsoLiveK4FPyUFqAS/innov.jpg)\nSo I am suggesting that it is indeed possible. We can measure value of contributions and pay can now be proportional to value created. People will be encouraged to focus on the things they do best, because this will maximize their reward. I suspect it will also make them happier.\nI want to end my talk with a joke from one of my favorite comedians - Jim Jeffries. He has a famous bit about the 2nd amendment - the right to bear arms. At the end of this bit he says: Sometimes people say to me “you can’t change the 2nd amendment!!” … “yes you can! It’s called an amendment”\nHere’s my message to you:\nThe best chance we have to deal with future challenges is to stay naive, to doubt the very things everyone are sure of. And for those who say you can’t change the Innovation ecosystem...I say, yes you can...it’s called innovation.\nThank you.\nGratzia Mille",
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      "body": "In short, as industries become information enabled (for more about \"information enabled industries\", see Salim Ismail's \"Exponential Organizations\" and Ray Kurzweil's LOAR) they go into an accelerated stage of commoditization. ICT and other technologies are moving very fast and are lowering costs for most of the lower levels of the value-chain (materials, manufacturing, and production in the case of more traditional industries. Software and algorithm development in case of software). It's true that in industries that are more material-centric, such as CPG, food and beverages, automotive, Oil and Gas, and construction, even though they are affected by and harness ICT, are experiencing a slower rate of commoditization of the material-based parts of their value-chain. Nevertheless, material science and production innovation are also accelerating (hyper-connectivity allows for more brains to collaborate and work on more problems, delivering faster progress, even in these traditionally slow-moving fields). Moreover, these industries are affected by ICT-driven process innovation and collaborative platforms - all reducing the cost of manufacturing and production.\nCommoditization means that nominal costs and entry barriers are lower and competition becomes fiercer. This means a decline in margins (over and above other margin-affecting factors, such as costs of materials et., that are more \"local\" in time. think about it like this - changes in BOMs are like fluctuations on the general underlying declining margin trend.\n[Do read, if you haven't already, The Zero Marginal Cost Society by Jeremy Rifkin.] Most industries going through this potentially cataclysmic change, are climbing up the value-chain in search for higher margins. (This phenomenon has been covered by many sources - Clayton Christiansen uses it when describing disruptive innovation that emanates from low-price competition driving incumbents to look for \"greener margin pastures\" in the more expensive goods.)\n\nThis reminds me of that wonderful story about the scholar explaining cosmology to some people when an old lady challenges him by proclaiming that the earth is sitting on top of a giant turtle. As the story goes, when he responds: \"but, what is under that turtle?\" She says: \"It's turtles all the way down\" (this story is attributed to the linguist John Ross. however, since the almost identical story has been published many times before and dates back, in print to 1938, my guess is that he stole it.) Where was I? Ah yes, so if the value-chain is being commoditized and it becomes harder to capture value, the only thing you can do is climb up. How much \"up\" is there?\nAt the top of the value-chain sits the user. A new find that is exciting many. The user is a contentious source of value - because she uses... That is why OEMs in the auto industry are looking to interact directly with the buyers and drivers through systems like onStar for GM, direct sales by Volvo, direct leasing by BMW and more. That is why Tesla does not have dealerships (they sell direct and own their sales floors) and why Apple owns (most of) its retail stores. That is why Amazon bought wholefoods and created Alexa. It's becoming about moving from \"sell and forget\" to \"always there\". The only renewable source of value remaining is a continuous engagement with the user. It means a deep change to the business model. \n\nImagine a day in which the building of the house will no longer be the issue. A day in which the only thing that matters will be the using of the house - living.  Traditional real-esatete and construction incumbents have the least to gain in the current state of affairs and the most to lose in the future scenario. They should be first in line - not because it will line their pockets now - but because it will give them a fighting chance in a changing world. It will allow them to acquire their future clients - the ones they have very little or no interaction with today.\nImagine a day in which generating or even distributing energy will no longer be the main source of value. Oil and gas (and coal) exploration, more specifically finding and extracting hydrocarbons to be used as a source of stored energy that we can ship, and use when needed, is both expensive and very profitable. But what happens when we have better ways of extracting and storing energy from our environment. What happens when we have cheaper more efficient batteries, PV technology, wind and air-pressure, geo-thermic, even excess energy from using energy, that today dissipates into the atmosphere. When every person will be able to generate, collect and store her energy needs, when industrial complexes will be able to locally manufacture the entire oil and gas value chain, the only source of value will be us - the users. When will this day come? I don't know. I do know this: It will come sooner than we expect. That has always been the case.\n\nIf I have learned one thing from Taleb's seminal book, I've learned this - when things are volatile and visibility is low, it makes sense to invest some resources in preparing for (/betting on) the \"seemingly highly unlikely, yet potentially massive\" change. As industries commoditize, the user will become more significant - and those who will have the relationship with the users will be the ones holding all the cards. Tech-centric industries understand this already. Traditional industries are too fat and too deep in, to seriously consider this possible scenario. [Last anecdote - a few years ago I was involved in a multi-billion dollar project with a major \"traditional industry\" company. During the project, we developed a process that would solve a major problem they had. That new process would have also generated massive amounts of a byproduct. Potentially they could use this byproduct to deliver huge value - but it required moving to or adding another completely different business. In my naive eyes, it was a no-brainer. It solves your problem and produces something that has value in a different sector - let's do it. The concept was rejected (not even seriously explored). The reasoning was - that is not our business - it's a different sector. Without a strong incentive to change, traditional industries tend to ignore alarm bells or potential opportunities. Oh well.]\n\ntill next time\n\nShahar",
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      "body": "Congratulations @tinc! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :\n\n[![](https://steemitimages.com/70x80/http://steemitboard.com/notifications/posts.png)](http://steemitboard.com/@tinc) Award for the number of posts published\n\n<sub>_Click on the badge to view your Board of Honor._</sub>\n<sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub>\n\n\nTo support your work, I also upvoted your post!\n\n\n> Support [SteemitBoard's project](https://steemit.com/@steemitboard)! **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!",
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      "body": "# A Crabby Preface # \nThere’s a story about crab fishermen who wanted to improve their yield. The crabs they were after are more valuable if they are fresh. The fishermen would place traps in the ocean and when they came to collect the crabs, they could not collect the crabs from all the traps because the crabs from the first traps would not be fresh by the time they made it back.\nSo they came up with a simple and cool idea. They would tie the crabs from each trap to one another, forming a circle of crabs. They would leave them in the water and move on to the next trap. When they were done and ready to go back to shore, they would sail back picking up the circles of crabs, that waited for them in the water.\nHow is it that the crabs stayed put? Well, they did their best to escape. All the crabs would do their best to swim away from the rope. Since all crabs were about the same size and all were pushing outward, their efforts canceled each other out and the entire circle didn’t move.\nThis is the story, definition and value of collaboration - combining, sharing or aligning efforts, resources and actions towards a shared purpose or a more efficient result in a way that is beneficial to all participating parties. Collaboration is a mutual exchange - a transaction. \nCollaboration is good because it allows us to do things we would not be able to do alone, or it allows us to do them faster and with less effort.\n\n# The age of collaboration #\n## Reality is a Form of Transactional Collaboration ##\nCollaboration is responsible for everything we see in our world.\nFor collaboration to happen we need to be able to transact.\n\nPhysics is collaboration - the application of forces on and between different things and the transaction of energy and forces.\nChemistry is collaboration - the interactions between different chemicals - one losing an electron, one donating a proton - all chemical reactions are transactional.\n\nLife as we know it, and especially life after the development of sexual reproduction is based on collaboration. At first living organisms multiplied by different forms of cloning. They collaborated with their environment - with the chemicals around them - but they did not need another living thing to reproduce.\nSexual reproduction was a game changer. It exponentially increased variance. Two living things shared their DNA to form a new living thing that was a combination of both their DNAs. We can easily see this as a transaction between two parties that combine their resources in order to create something new, something they could not accomplish on their own and something that through an evolutionary prism, was highly beneficial.\nSince we can view sexual reproduction as a transaction of information - we can think of it as a form of communication.\n\nInsects are very good at that. Chemically orchestrated collaboration dictatorships.\n\n## From shouting distances to instantaneous hyper-connectivity  ##\nAll forms of lingual communication (gestural, vocal or written) are transactions of information.\nLanguage allowed us to develop new forms of collaboration.\n“You pull, I push!” \nStill, for a long time, there was a limit on the ability of humans to maximize their collaborative potential. The first limits were the visible and audial limits. We used fires on top of mountains, or smoke signs to share rudimentary pieces of information over large distances. However, efficient communication was limited to short distances  - shouting distances. \nThat changed a few times in history.\nThe first time it changed was with the invention of written language around 5000 years ago (although there are indications that some basic forms of written language existed long before - certain signs in caves that date tens of thousands of years, were found in different sites over thousands of kilometers and years apart). Written language meant we could share information without needing to physically be there.\nStill keeping records on paper or clay or stone - was prohibitively expensive. At least until ~1439.\n\nThere is a sharp incline of literacy in the world that follows the dissemination of mass printing capabilities. The 15th century marked a point in history where a larger percent of humans could apply their resources (e.g., cognitive) on existing challenges and collaborate more efficiently beyond shouting distances.  \n\nThe next giant leap came with the invention of the telegraph. The Telegraph is the “Australopithecus” of the current state of information and communication technologies (ICT). It allowed us to share and transact with information over huge distances, instantly.\n\nThe final leap is the industrial digitalization. Here’s the thing, communication as a form of transaction that stems from and at the same time fosters collaboration is great but if what you want to do is build a house - sharing information fast over continents will not replace the fact that you need bricks to be laid next to each other. This changed and is changing today. The development of ICT is transforming industries - making them information enabled. 3D printed homes already allow a team of architects, designers, and builders to collaborate, without ever meeting and physically construct a new building. That is just one example.\nWe have reached an age in which physical and informational collaboration and transactions are converging.\n\n# END OF PART ONE #\nI am out of time - will complete this later.\n\nShahar",
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      "body": "Innovation is the life blood of industry. Without innovation, our industry will become inefficient and unable to compete. Lack of innovation is fatal to industry, so I agree with you. I have spent my Engineering life innovating both product and production methods.    \n                                                                                                                                                                                        \nI helped make and keep a lot of jobs for others too, and I am proud of that.                      \n                                                                                                                                                                                      \nStay innovative, and be blessed!                                                                                                              \n                                                                                                                                                                                        \n**`:0`**",
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      "body": "There is a question of what is the cost of innovation\nThere is the question of is innovation worthwhile – meaning what is the cost of not innovating and where or not the effort of innovating is profitable.\nThe question I am interested in is not “should we innovate?” It is not is innovation a worthwhile or profitable effort. I think it is. Not because I analyzed it and got to the conclusion that it is profitable. Not even because I think that not innovating is so dangerous that it justifies innovating – even at the cost of short-term losses.\nI think we should innovate because some of us have an unstoppable urge to innovate.\nWe, humans, innovate much the same way birds fly and spiders weave webs.\nI am not saying that it is the defining attribute of humanity.\nI am saying this – almost as much as most people dislike change and the process of innovating – and most people hate change and the process of innovating (they still enjoy the innovation – but not the process, nor the adoption period) – some people love it and need it and cannot not do it.\nThe human race has a certain percentage of its population that is driven by the desire to change, explore and innovate.\nSo, the answer to the question is innovation worthwhile – for me is moot.\nNow, if we only look at that group of people, the ones that are driven to innovate, I want to know, what is the ratio of effort to success. I want to know how efficient that engine is. I want to know if perhaps maybe, it can run better.\nWhy?\nWell, because I spent my life innovating. At first as an amateur. Later, professionally. I spent over a decade working with some of the largest companies in the world on their innovation strategies, processes, developing new products and services - you name it. A dream, right? Well, not so much. Looking back, I have learned this: The amount of effort invested in the innovation funnel was literally incredible. I am talking about thousands of ideas leading to hundreds of tests, leading to dozens of mini-projects, leading to a horribly slow and incremental trickle of uninspiring, innovation. Take the food industry – the vast majority of innovation is in packaging. Why? Because it is almost always a cost-saving innovation – and reducing cost improves the profit directly which affects the stock price which makes the leadership happy because they can afford a private jet…. There is no incentive to introduce groundbreaking innovation, because, as you remember – most people don’t like groundbreaking. Most people like things to stay the same.\nI also spent around a decade working with startups and have been an entrepreneur myself. I worked with many dozens of new ventures – mostly in Israel but also in other countries. This is what I learned from my startup ecosystem experience – being an entrepreneur sucks. More about that soon.\nShahar",
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      "body": "I think the cost of land will not be a barrier in the real estate industry.\n\nThis is why:\n1. Dense building - as urbanization increase drives more dense construction that allows for more people to inhabit the same land area. \n2. Improved transportation is causing a slow expansion of suburbs - making the size of cities bigger and mitigating the cost of scarce land\n\nbut the real, perhaps counter-intuitive, reason is this:\n3. It is starting to be possible to amortize the cost of land over the lifetime use of it: Even if the nominal value of land is high if you have access to capital you may be able to pay back loans with accumulating value created over the lifetime of the property. Now, I know that the question \"if you have access to capital\" is the crux - but here's my point - anyone can get access to capital if they have strong stable sources of income (value creation and capture). This is how you get a mortgage. Today the source of value that backs the mortgage is your salary. What if the sources of value backing the mortgages were the micro-economies that will evolve building communities? What if people living in aprtment buildings, start collaborating with each other - trading goods and services and creating mutual value? What if we could add to that the data, information, and insight they would generate? My point is that if you have a strong source of value you have something to trade and with improved collaboration platforms and improved p2p transactions and crowdfunding etc., I see no reason why landowners would not accept these as collateral for the value of their land. It is not dissimilar to feudal times - only not abusive. You give me land and I will use it to create value of which some I will give back to you. I will give you back a fair amount and I may very well end up owning the place (or not - depending on what I want, you want and what rates we set). The basic principle I am suggesting here is well known in finance - CAPEX is not a barrier at all if you have a return on the asset that is higher than the cost of capital. I think this is what we are helping realize.",
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      "body": "Hi,\nI'm not a lawyer.\nThis is not legal advice.\nOver the past 20 years, I have incorporated in several countries and have read and analyzed a lot of legal documents and the following is what I have learned.\n\nThere are 3 potential documents - possibly 2 (or even one if you really want to be concise). \n\n*The first document - articles of association/constitution*\nMost jurisdictions demand (in law) a constitution/articles of association (AOA) document. In most jurisdictions you the following articles are necessary - meaning you can add to them, but not omit them:\n1. Company name\n2. Company Goals\n3. Company stock capital and its distribution between the founders (which means that you also need to state the founders, either in this article or in a separate one)\n4. Type of entity (is it a partnership or a limited liability company or whatever other entity is defined)\n\nThose 4 basic demands are usually what is required by law. \nIt means that in most places, in order to comply with the law you could (and many do) file a very short document that looks like this:\n1. Name: NewCorp\n2. Goals: To do whatever is deemed legal to do\n3. Stock Capital: 1,000,000 shares issued with the face-value of one euro-cent per share all. All shares are owned by John Doe.\n4. NewCorp is a limited liability corporation\n\nYou are also required to provide an address - but not always as part of this document\n \nMost constitutions/AOA include a governance article that defines the decision-making procedures (this is not normally required by law, because in most places it is covered by the law - so in absence of any other definition the default is simply to do as stated in the law...). \n\n*The second document - The founders' agreement *\nThe founders' agreement (FA) is relevant only if there is a time gap between the moment of starting to work on a venture and the moment of incorporation. If there is no gap - there's no need for this document and everything in it can be covered in the shareholders' agreement (see below). During the time before the incorporation, there are no shares to hold so there can be no shareholders' agreement.\n\nThe founders' agreement (FA) delineates the business relationship between the founders. The term \"founder\" is formally used for tax purposes. It means that giving shares to a \"founder\" is not a tax event. In natural language, that term got other meanings. If there's no FA, there's still no problem to refer to the founders in the shareholders' agreement.\n\n*The third document - the shareholders' agreement*\nSo the next important document is the shareholders' agreement (SA). In fact, as long as the articles required by law are in it, it can be merged into the constitution/AOA. The reason why this is not normally done is that there seems to be no good reason to provide the government with information about your business relationships and private contracts if that is not legally required.\nThe founders' agreement and the shareholders' agreement should be quite simple. In my mind, they should only add to the constitution what is not required in it - mainly governance and remuneration such as salary and allocation of vested shares/options. This many times implies a cap table,  vesting mechanisms, and warrants (\"legalese\" for articles that provide protections for shareholders in case of possible eventualities - for example the \"tag along\" and \"drag along\" warrants that protect minority shareholders by limiting the possibility of a majority shareholder from selling her shares and forcing a new majority shareholder on a minority shareholder, or for protecting the majority shareholder's right to sell, by limiting the right of a minority shareholder to refuse to sell shares (in case of an \"everything or nothing\" deal.) In many jurisdictions, these issues are covered by the law and so this may be superfluous. In general, try not to add language that is also well defined by the law. \n\nAdding a bit about the company and other fluff is very common but not necessary. \nArticles that delineate roles and responsibilities are needed only as much as they are needed for defining governance. \nCap table and ot\n\nSo?\nWell, the documents that are normally drawn are almost always heavily redundant with articles and words that add nothing to the letter of the law. It means wasting time on understanding them, debating them, agreeing on them. It is wasteful and adds unnecessary friction and billable hours. \n\nLess is more in my eyes.\n\nI hope this gives you a better view of what the process of incorporation should include. \nI will tell you this - I printed and read the Israeli corporation law (years ago - and every now and then I take another look). It's ~100 pages. It was interesting - not a terrible read. It is something that every person that opens a company should do - IMHO.",
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      "body": "@@ -2810,20 +2810,27 @@\n rom the \n-data\n+information\n . For ex\n@@ -12215,16 +12215,24 @@\n then, as\n+ I hope,\n  it does\n@@ -13091,8 +13091,613 @@\n achines.\n+%0A%0A%0AFor those of you who survived this, probably too long, piece, perhaps you'de be interested in these:%0A* %5BOn Jay Clayton's, SEC Chairman, ICOs and Crypto position%5D(https://steemit.com/sec/@tinc/explaining-the-position-of-jay-clayton-the-sec-chairman-about-icos-and-crypto) %0A* %5BForget about the DAO - here's the JESO%5D(https://steemit.com/dao/@tinc/forget-about-the-dao-here-s-the-jeso)%0A* %5BThe Token is a Unit of Measurement%5D(https://steemit.com/theageofcollaboration/@tinc/the-token-is-a-unit-of-measurement)%0A* %5BStartups Don't Matter%5D(https://steemit.com/theageofcollaboration/@tinc/startups-don-t-matter)\n",
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      "body": "@@ -8494,31 +8494,100 @@\n rk. \n+In 18\n 49\n+,\n  miners \n-(called the %E2%80%9C\n+from all over the world made their way to the region. %5BThey were named %22the \n fort\n@@ -8602,16 +8602,13 @@\n %E2%80%9D - \n-yes that\n+which\n  is \n@@ -8633,16 +8633,25 @@\n  famous \n+American \n Football\n@@ -8659,83 +8659,10 @@\n team\n-) from all over the world made their way to the region looking during 1948\n .\n+%5D\n  By \n",
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      "body": "![Do I feel Lucky](https://cdn.steemitimages.com/DQmThGLkqw2MxwYzMDQWCUWhGsUTzuEbh3BBr1KsDdnMiLr/Barrel%20do%20I%20feel%20lucky.png)\n\n# TL;DR\nData is not the new oil - but it’s close. Data are the reservoirs that hold the most valuable, renewable resource humans ever harnessed - information and insight. Our focus should transcend capturing data or even analyzing it - that is being done impressively already. Our focus should be on providing easy access to those data fields. In this article, I claim that every time humans found a new resource, the people that won big were the ones that controlled the access to the resource (not the miners). I also think that with blockchain, we have the opportunity to make data and information accessible to everyone and in turn have both “miners” and the access gate-keepers win together. \nI also mention a chicken with lips...\n\n# “It’s the Access, Stupid!”\nHuman civilization is a story of harnessing resources. Land and territory are as old as the tribe. The first stone tools are 2.7 million years old. The first metals were tamed around 9000 years ago. The people who controlled these resources rose to power. Information was harnessed a lot earlier than we might think. In Mesopotamia 5000 years ago, priests who meticulously recorded the night sky were able to predict the movements of the heavens and whisper at the ears of god-like rulers. Oil, gold, transportation, electricity, the combustion engine, every time a new resource was discovered, a race of brave people looking to get there first and mine it commenced.\nReally?\nAre the notable rulers of human civilization, the miners? \n**Here’s another TL;DR - The ones that lead the rush are those best positioned to control the access to that resource, and that way the resource itself.**\n\n# Data - it ain’t no goddamn Oil, but it sure is handy if you can Barrel it\n\nThere are many noteworthy people who said that data is the new oil - [this](https://medium.com/project-2030/data-is-the-new-oil-a-ludicrous-proposition-1d91bba4f294) is a good review of these quotes. The key problem with this metaphor is that it confuses the resource with its potential to deliver value. Clive Humby, the first to use this metaphor also said “[data] if unrefined it cannot really be used.” In a way, he was right on the money. Usability is the key. \nLet’s start with some basic taxonomy:\n* **Data** - mostly bits, numbers, signal representations - without context or semantics. Data in its raw form is meaningless. For example, 0.78.\n* **Information** - data that has been interpreted, in the sense that it has been given context and meaning. For example, 78% chance of it raining tomorrow.\n* **Valuable Insight** - the derivative conclusion that can be deduced from the data. For example, it’s not a good idea to have an origami festival in an unroofed venue tomorrow. \n\n# Unusable data is as useful as lips on a chicken \n![Barrel Chicken with lips.png](https://cdn.steemitimages.com/DQmYFTVHUBoMhjNPEyBgVP9Jauefsf9K53ZfqfVPjMTRPLM/Barrel%20Chicken%20with%20lips.png)\nAll data can be transformed into information and some of it will yield valuable insight. The problem is that most data is unusable because it is restricted. \nRestrictions can stem from privacy protecting regulation, or from corporate ineptitude (not knowing how to turn it into information, not realizing its true potential, and not sharing it with others). Complying with regulation is doable. Inaptitude is rarely curable (as luck would have it, the survival rate of myopic and inapt corporations is falling fast).\nUnusable data is like the geological structures that capture oil or gas - it is the tar sands or oil reservoirs. By itself, it ain’t much good to anyone.\nIf you can gain access to that reservoir and extract the oil that is in it, i.e., analyze the data and transform it into information, you’ve got yourself a Bonanza (my apologies for mixing my geological metaphors). \n![Barrel Bonanza.png](https://cdn.steemitimages.com/DQmS52qi9gFfsnCDdvyAYk6gxnkbDrfupByjX8FcppyhEkX/Barrel%20Bonanza.png)\nIf you can refine it further and farther downstream, you can yield the coveted value-generating insights. In fact, the farther downstream it reaches, the more agents will process it and the more applications and value it will generate.\nIn this, apt, I hope, metaphor, data are the oil fields, information is oil and insights are the rocket fuel we use to get to freakin’ Mars.\nYou catch my drift?\nWhen looking at everything happening around us, I suggest we should look for the people and organizations that make it possible or easier to extract it, processes it and trade it.\nI’m going to mention one such venture, by a company called Superfly Insights - the Barrel Protocol. \n[Disclaimer: The founder of Superfly and Barrel, Jonathan Meiri is a good friend. We talked about Barrel a few times (and we don’t always see eye to eye). To be clear, this is not a commissioned PR piece.] \nBarrel is a serious attempt to clean the data, package it and make it transactable, so that it can be transformed into information. They could have just as well be named, Drilling Pipe. Still, I like the name Barrel. Will Barrel make Superfly the Standard Oil of our time? Perhaps. \n[I hope not. I think that we, the data producers, are stronger today and in a better position to negotiate for our rights - still, there’s enough value for everyone.]\n\n# “It sounds complicated”\nA few years ago, I helped the 13-year-old daughter of a friend to prep for a math test. The topic was fractions and percentages. As a kid, I many times could not follow the method my teacher taught and had to develop my own “shortcuts”. I spent an hour with (let’s call her) Anne. A week later her dad came to me and asked - “What did you do??” Apparently, she aced the test. I said: Nothing really. I just took away her fear. I taught her a simple trick that gave her the solution right away, and once she knew what the end result had to be, all she had to do was to “connect the dots”. My point and this is fairly common insight, is that fear is the main, if not the only, barrier to learning. The best students I taught weren’t the smartest. They were the most fearless. This, seemingly insignificant insight, is the prime mover of many sociological phenomena and especially in the diffusion of innovation.\n\nThe classic diffusion of innovation model segments the market into the innovators and the early adopters that make up the early market. The Innovators are people who are attracted to trying new things and are not price sensitive. I would say they are fearless. When they come across something that they have never seen before, something new, they are not afraid. They assume they will understand it and be able to use it and enjoy it. Their basic assumption is that learning, in the sense of assimilating new knowledge, will not be a barrier. And so, they try. Most of us are not like that. Most of us are driven by a spectrum of fears and anxieties. When we come across something new, we fear we won’t get it, or that it would take too much effort, or that we will be disappointed. This is the source of the expression “If it ain’t broke, why fix it?” Life is easier if we keep change to a minimum. I spent most of my career working with very capable and smart executives, in some of the largest companies in the world, on generating innovation pipelines and I can tell you that close to 100% of them had some resistance toward new ideas (no matter how open and creative they claimed to be). My main job was to slowly remove fear barriers and lead them toward exploring the integration of new ideas and concepts into their reality. I failed more than I succeeded. \nAfter 20 years as the “innovation guy”, I can say this: Learning is the process of transforming what, we fear, is (too) complicated into what we know (is simple). \n[how the hell is this related to what you wrote in the TL;DR??? Patience - We’ll get there. I have a plan]\n\n# Samuel Brannan get’s rich\nThis inherent fear of the “new” can be found in multiple industries and historical milestones in human progress. Let’s look at one.\n![Barrel 49ers.png](https://cdn.steemitimages.com/DQmS1wrUSqWc7GGFDgEjdfEHp4cnQ5CpFMpMvB4NA4492hC/Barrel%2049ers.png)\nOn January 24th, 1848, James Marshall found a small piece of gold at Sutter's Mill, near Coloma, California. By March rumors reached San Francisco. By August the news reached New York. 49 miners (called the “forty-niners” - yes that is the origin of that famous Football team) from all over the world made their way to the region looking during 1948. By 1850, the tiny city of San Francisco grew from 1000 residents to 25,000. This is even more impressive when you consider that there were 3 hellish ways of getting to San Francisco. You could sail for 6-8 months around South America, covering 18,000 nautical miles. You could “cut” through Panama (remember this is before the canal was dug) and travel through the jungle to the west side and then wait for a ship sailing to San Francisco. You could go by land, through Mexico. All three routes were long, hard and many times deadly. \nOk, so they endured hardship, but at least they got rich, right? Well, about 50% of the miners made modest profits (when considering their expenses). Very few of the miners got rich. The richest man of the California gold rush was without a doubt, Samuel Brannan. He opened the first supply stores in Sacramento, Coloma, and other spots in the goldfields. Just as the rush began he purchased all the prospecting supplies available in San Francisco and re-sold them at a substantial profit. \nNow you remember where you’ve heard this before. I am not the first to tell this story. When there a “rush” the people that make the real money are the ones that provide the infrastructure. No! No! It’s the service providers that win. No, it’s the people who trade the commodity itself - the brokers and traders. You are all right. Let’s take this story one step farther.\n\n\n# Providing tools and removing barriers - that is Access \nThe flat gold pan, the Levi’s Jeans, the traders who bought the gold and sold it, the ships, the providers of guns used to take-over land - all of them got very rich. Far richer than most miners. All of them provided access in the broader sense of that word. They sold the tools that made extraction possible. They removed liquidity barriers and made it possible for people to trade. They brought the people and tools and commodities required to support the Gold Rush. They, together, provided access. \nBut, why do we need them?\nThe 49ers never had them.\nThe first people to ever discover and harness a new resource, they had no one to help them, to remove barriers, to provide the coveted access. So why can’t it always be like that?\nHere’s why. It is because we are naturally inclined to avoid dealing with new things. Everyone wanted to get some of that gold - it was a strong motivator. But, they also feared the unknown and the new. This is even truer today (although less dangerous). The natural resource of our time is information (hidden in growing data “fields”). Data related technologies sound complicated. Even for the tech savvy, we are tired of learning new things. It’s gonna take so much effort. We hate updating our operating system, for fear that we will need to assimilate new features or for fear that the menu will look different. We are in the middle of a data/Information-rush and we need people and organizations to package it and make it easier to work with, to trade to transact. Don’t give me a two year long Big Data IT integration project - I feel nauseous just thinking about it. Don’t run me through regulatory Via Dolorosa of GDPR. Just give me the data, that I can use, now. I am not the pioneer. I am not one of the 49ers. I am a corporate user and I need the insight - chew it for me please and let me drive ahead. \n\n# What is Barrel\nThe first time I heard about the Barrel Protocol was a few months ago when Jonathan told me about it over a lazy Friday afternoon coffee in downtown Tel Aviv. It didn’t take long for me to get it. It made sense to me then, as it does to you now. If we could offer sources of data to share it in a decentralized peer-to-peer network, say blockchain, and use the “miners” to verify that it is compliant with regulatory restrictions (properly anonymized and secured and a bunch of other Techese and Legalese speak), we would effectively create the “barrels” or the “pipeline” that would provide access to multiple players all over the world and across multiple industries to the information captured in the data. \n\n# What's next?\nWho's gonna extract the information, no the valuable insights from this data? Well, we would like to think that it’s the smart people all over the world. The truth is, and I will write another piece on that, is that we have created a breed of data-eating, insight spewing machines - The age of AI. We’re gonna need a lot of barrels to feel these insatiable machines.",
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