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Who Is John Galt?

Who Is John Galt?

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Photo by Michel Engels on Unsplash

It’s election day here in the US, with two major party candidates vying for the spot of President of the United States. So, let’s have some fun.

John Galt is the hero of Ayn Rand’s book, Atlas Shrugged, published in 1957. Set in a dystopian world where the government, which is on the brink of collapse, has taken control of businesses, and regulatory overreach is choking innovation. Galt is a shadowy figure of almost mythic proportion – and the force behind a sweeping strike on the part of innovators, which promises to bring the government to its knees.

In this age of technology, who would be a likely John Galt candidate, Galt being a brilliant inventor who, for our purposes here, while he may not necessarily be mankind’s salvation, is at least helping to tip the scales a bit? We nominate two potential candidates, both of whom, like Rand’s Galt himself, have been both glorified and vilified: Bill Gates and Elon Musk. It being Election Day, you decide: Read More...

Is Tech Starting to Get Under Your Skin?

Is Tech Starting to Get Under Your Skin?

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We used to play competitive field hockey. Center halfback. Winning team and why? We and our center forward had a strategy: Yours Truly always fell back – to the least protected part of the field – rather than shadowing her.  She would invariably get the ball at some point, send it to us, who would guard it until she was in position to score, return it to her. Score! Game over. Worked every time.

It’s one thing to skate to where the puck is going, as per ice hockey great Wayne Gretzky’s advice. And quite another to follow the strategy/keep an eye on the field at large. Which is also potentially a winning play.

As a result of our lessons from field hockey, we personally don’t necessarily only follow where the puck is going, but rather, attempt to sort out the underlying strategy as well – and look to what else is happening on the field. For example, it was recently widely reported that Elon Musk says the US should ‘get rid of all’ government subsidies re EVs. As The Verge said, “Musk’s companies have benefitted from many different federal and state subsidies over the years, and the government is a major SpaceX customer (though SpaceX won much of that business by dramatically undercutting the prices of established players). Tesla has also found tremendous success in China after receiving lots of help from the central government there. Musk said Monday that Tesla “did not anticipate any subsidies” when the company was in its early years. Read More...

How to Make Money in Tech Without Starting a Company

How to Make Money in Tech Without Starting a Company

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Elon Musk is now worth $230 billion—as much as Bill Gates and Warren Buffett combined, and he has even surpassed Jeff Bezos. But, hey, a billion here, a billion there, why quibble? What was not mentioned in the CNBC piece is Elon Musk’s secret? Taxpayer money. His two companies that helped him to achieve that status – Tesla and SpaceX – “together have benefited from an estimated $4.9 billion in government support (subsidies),” according to the LA Times.

 

Considering that it’s lawmakers who decide who gets what, many of them have coincidentally done quite well picking stocks, even though we know that insider trading is illegal – at least for the rest of us. Still, congress is required to disclose their stock transactions. According to NPR, the “STOCK Act is a law that was passed and signed in 2012, (that) requires more disclosures by federal lawmakers when they trade, they purchase, they sell stocks. It also criminalizes trading on inside information.” Read More...