Technology

"From the day I started digging into the crypto world, I had seen nothing but red flags. Why were all these companies based in infamous offshore regulatory havens? What was up with all these random virtual coins that were supposedly worth tens of billions of dollars? Was that, just maybe, a precarious foundation for the future of finance? Were they all scams? But by the time I visited Bankman-Fried’s island hideaway, the logic of the financial world had broken down. Hardly anyone knew what cryptocurrencies were for. Even supposed experts couldn’t explain them. It was unclear why many of the coins would be worth anything at all. But from 2020 to early 2022, the prices of Bitcoin and hundreds of other lesser coins—with ridiculous names like Dogecoin, Solana, Polkadot, and Smooth Love Potion—were going up and up. While I was in the Bahamas, people traded more than $500 billion worth of them, and the market value of all coins combined topped $2 trillion."

"Cryptocurrencies have given rise to an entire new criminal industry, comprising unregulated offshore exchanges, paid propagandists, and an army of scammers looking to fleece retail investors. Yet, despite the overwhelming evidence of rampant fraud and abuse, financial regulators and law-enforcement agencies remain asleep at the wheel."

"Bankman-Fried told me that as many as five of his colleagues at FTX were billionaires. And that was just a single crypto company. Many unprofitable start-ups with questionably legal business plans were valued in the billions. Changpeng Zhao, who founded another crypto exchange called Binance, made a fortune estimated at $96 billion. The numbers got so large that even the most delusional crypto fantasies started to sound reasonable. It seemed like nothing could stop crypto’s manic rise. Until, of course, the house of cards collapsed. Starting in the summer of 2022, many companies in crypto were revealed to be frauds. The bubble popped. About $2 trillion of market value was erased. Billionaires went bankrupt. Millions of ordinary people lost their savings. The financial authorities who’d allowed scammers to run rampant finally decided it was time to lay down the law. Bankman-Fried and many of his associates were arrested. Crypto didn’t disappear entirely, but the fever had broken."

"In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending."

"Because imagine the combination of social media, the algorithms that drive social media, the amassing of even larger sums of money through the control of certain cryptocurrency chains -- we're looking at not only states such as China or Russia or others manipulating technology of all kinds to their advantage. We're looking at non-state actors, either in concert with states or on their own, destabilizing countries, destabilizing the dollar as the reserve currency."

"[Cryptocurrency is] an asset, a commodity, and a store of value."

"I've always been deeply opposed to crypto, bitcoin, etc. You pointed out the only true use case for it is criminals, drug traffickers, money laundering, tax avoidance. .... If I was the government, I’d close it down."

"Meanwhile, China has been slowly rolling out a digital version of its yuan, also inspired by bitcoin and crypto, in an attempt to both control the domestic flow of money among its citizens and compete with the U.S. dollar for global trade."

"The worst thing you can do is lay the wet blanket of government over this emerging area that frankly a lot of people are going to with or without government. Maybe that's the warning sign. This is going to happen. People are going to continue to move in this direction because cryptocurrency and everything that comes with it is a response to too much government."

"While industry players have already started the market introduction of hydrogen fuel cell systems, including fuel cell electric vehicles and micro-combined heat and power devices, the use of hydrogen at grid scale requires the challenges of clean hydrogen production, bulk storage and distribution to be resolved. Ultimately, greater government support, in partnership with industry and academia, is still needed to realize hydrogen's potential across all economic sectors."

"The medium of energy transport from an atomic reactor to sites at which energy is required should not be electricity, but hydrogen. The term "hydrogen economy" applies to the energetic, ecological, and economic aspects of this concept. The concept envisages reactors held on platforms floating on water. They are in water sufficiently deep to make heat dissipation easy/ The electricity they make would be converted on site to hydrogen and oxygen by hydrolysis. The hydrogen would be piped to distribution stations and thereafter sent to factory and home. Reconversion to electricity would take place in on-site fuel cells, the only side product ebing pure water."

"Already in 1874, Jules Verne in his novel The Mysterious Island, lets the engineer Cyrus Harding reply when asked what mankind will burn instead of coal, once it has been depleted: water decomposed into its primitive elements. ... and decomposed doubtless, by electricity ... Yes, my friends, I believe that water will one day be employed as fuel, that hydrogen and oxygen which constitute it, used singly or together, will furnish an inexhaustible source of heat and light, of an intensity of which coal is not capable. Today's energy and transport system, which is based mainly on fossil fuels, can in no way be evaluated as sustainable. In the light of the projected increase of global energy demand, concerns over energy supply security, climate change, local air pollution and increasing prices of energy services are having a growing impact on policy making throughout the world. At present, oil, with a share of more than one third in the global primary energy mix, is still the largest primary fuel and covers more than 95% of the energy demand in the transport sector."

"There are three different primary energy-supply system classes which may be used to implement the hydrogen economy, namely, fossil fuels (coal, petroleum, natural gas, and as yet largely unused supplies such as shale oil, oil from tar sands, natural gas from geo-pressured locations, etc.), nuclear reactors including fission reactors and breeders or fusion nuclear reactors over the very long term, and renewable energy sources (including hydroelectric power systems, wind-energy systems, ocean thermal energy conversion systems, geothermal resources, and a host of direct solar energy-conversion systems including biomass production, photovoltaic energy conversion, solar thermal systems, etc.). Examination of present costs of hydrogen production by any of these means shows that the hydrogen economy favored by people searching for a non-polluting gaseous or liquid energy carrier will not be developed without new discoveries or innovations. Hydrogen may become an important market entry in a world with most of the electricity generated in nuclear fission or breeder reactors when high-temperature waste heat is used to dissociate water in chemical cycles or new inventions and innovations lead to low-cost hydrogen production by applying as yet uneconomical renewable solar techniques that are suitable for large-scale production such as direct water photolysis with suitably tailored band gaps on semiconductors or low-cost electricity supplies generated on ocean-based platforms using temperature differences in the tropical seas."

"One alternative to fossil fuels is ‘green’ hydrogen, which can be produced through water electrolysis by using an electric current to split water into hydrogen and oxygen with no greenhouse gas emissions, provided the electricity used to power the process is entirely from renewables. Hydrogen’s high mass energy density, light weight, and facile electrochemical conversion allow it to carry energy across geographical regions through pipelines or in the form of liquid fuels like ammonia on freight ships ... Across sectors as it can be used as a chemical feedstock, burned for heat, used as a reagent for synthetic fuel production, or converted back to electricity through fuel cells. Furthermore, hydrogen’s long-term energy storage capacity in tanks or underground caverns ... makes it one of the only green technologies that can store energy across seasons."

"Although in many ways hydrogen is an attractive replacement for fossil fuels, it does not occur in nature as the fuel H2. Rather, it occurs in chemical compounds like water or hydrocarbons that must be chemically transformed to yield H2. Hydrogen, like electricity, is a carrier of energy, and like electricity, it must be produced from a natural resource. At present, most of the world’s hydrogen is produced from natural gas by a process called steam reforming. However, producing hydrogen from fossil fuels would rob the hydrogen economy of much of its raison d’être: Steam reforming does not reduce the use of fossil fuels but rather shifts them from end use to an earlier production step; and it still releases carbon to the environment in the form of CO2. Thus, to achieve the benefits of the hydrogen economy, we must ultimately produce hydrogen from non-fossil resources, such as water, using a renewable energy source."

"Unlike CH4 and CO2, ammonia is not a greenhouse gas. In the atmosphere, it quickly forms hydrogen bonds to water vapor and returns to the ground in alkaline rain. However, NH3 is toxic, chills its surroundings rapidly on vaporizing, and releases heat on contact with water. Engineering a safe fuel tank for an ammonia-fueled vehicle would be a key priority. Ammonia is an excellent material for hydrogen storage. ... the volume density of hydrogen in liquid NH3 is more than 40% greater than in liquid H2, and the comparison becomes much more favorable when one considers the weight of the required fuel tank and peripherals. Unlike H2 gas, ammonia explodes in air only over a narrow range of concentrations. Shipping ammonia from production site to point-of-use does not require a great deal of cooling or high pressure. Thousands of miles of NH3 pipeline in the US stand as evidence that reliable infrastructure for NH3 transport and storage has been engineered. In sum, liquid NH3 is not just an excellent hydrogen-storage material but also an ideal medium for moving hydrogenic energy from place to place."

"“If human beings are the universe’s way of looking at itself,” Dr. Marx said, “then virtual reality is the universe’s way of pretending to look at itself.”"

"A virtual world is the content of a given medium. It may exist solely in the mind of its originator or be broadcast in such a way that it can be shared with others. A virtual world can exist without being displayed in a virtual reality system (i.e., an integrated collection of hardware, software, and content assembled for producing virtual reality experiences)–much like play or film scripts exist independently of specific instances of their performance. Such scripts do in fact describe virtual worlds. Let’s carry the analogy further. We can refer to the script of a play as merely the description of a play. When that description is brought to life via actors, stage sets, and music, we are experiencing the play’s virtual world. Similarly, a computer-based virtual world is the description of objects within a simulation. When we view that world via a system that brings those objects and interactions to us in a physically immersive, interactive presentation, we are experiencing it via virtual reality."

"On its own, even utopian VR can't transcend the limits of our genetically constrained "set-point" of well-being or ill-being. Ironically, a mass migration into virtual worlds may come to represent Peripheralism's final fling. Only total control of one's notional surroundings via immersive VR may be enough to convince the sceptic of the futility of purely environmental manipulation to secure lasting happiness. By contrast, the symbiosis of gradients of genetically preprogrammed euphoria and the application of mature virtual reality software engineering is an awesomely exciting prospect[.]"

"If you think you're plugged straight into the Real World, then the prospect of plugging in to silicon VR will seem like a retreat into fantasy-world escapism. On the other hand, if you've long ceased to believe that The World was yours to lose in the first place, then you may decide that nasty old organic VR is a world well lost."

"It turns out that the killer application for virtual reality is other human beings. Build a world that people want to inhabit, and the inhabitants will come."

"Well, I took the crayfish home, and I thought he'd like a swim, So I filled up the chamber pot, and I threw the bugger in. By the way side high diddly aye do. In the middle of the night, I thought I'd have a fit, When my old lady got up to a-have a shit. By the way side high diddly aye do. Husband, husband, she cried out to me, The devil's in the chamber pot, and he's got hold of me. By the way side high diddly aye do. Children, children, bring the looking glass, Come and see the crayfish that bit your mother's arse. By the way side high diddly aye do Children, children, did you hear the grunt, Come and see the crayfish that bit your mother's cunt. By the way side high diddly aye do."

"Do ye not perceive, that whatsoever thing from without entereth into the man, it cannot defile him; Because it entereth not into his heart, but into the belly, and goeth out into the draught, purging all meats?"

"Pecunia non olet (Money doesn’t stink)"

"Bertolucci’s eerie use of these oil paintings is the shocking story of an art exhibition that gripped Paris, established Bacon as the great European artist he had always dreamt of being – and left a man dead in a hotel toilet."

"’If you must know, it's my thunderbox.’.. He..dragged out the treasure, a brass-bound, oak cube... On the inside of the lid was a plaque bearing the embossed title Connolly's Chemical Closet."

"With no mains water and no sewerage system, the bags are used as toilets. Flying latrines they are called, because when you have filled them, you throw them as far away as you can. And when the rains come and wash them out there is a good chance that some little boy or girl sent on an errand will see a bag in the street and use it again, to carry firewood or maybe food."

"... I realize that my career at the Xerox Palo Alto Research Center (better known as Xerox PARC) has afforded me a much wider view of civilization. In particular, it has provided me with endless opportunities to meet with visitors from all parts of the world and in turn to visit nearly all parts of the world. Everyone takes Silicon Valley seriously now. With these visits, hardly a day goes by that I don't get asked to explain the magical brew that makes up Silicon Valley. What is it? What makes it so special? Can it be copied? If not, why not? And if yes, how? And what about that famous culture? What does it feel like to work for a large East Coast company and yet be a part of the Valley? Does this give me a different perspective—having to bridge those two quite different cultures daily? And how are those cultures different?"

"... I am always skeptical of copying things. ... Just like you shouldn't try to copy Microsoft or Facebook, copying Silicon Valley is probably also the wrong idea. ... One reason it's the wrong idea is that we don't even actually know what makes Silicon Valley work. Maybe it's the weather. Maybe it's non-compete agreements are not enforced in California. Maybe it is that there are these crazy network effects. ... All kinds of different explanations ... one can give. Even if we wanted to, I am not sure we know what makes it work. And then, I think, even more fundamentally when you are copying something, you are setting yourself up to be defined in a lesser way. If you are the Oxford of Iceland, that's not quite Oxford ... The something of somewhere is often the nothing of nowhere."

"In the Silicon Valley, there is the view that is widely shared in the world. And it is materialist and reductionist, for which the human being is a machine and reality is describable by the classical physics]] of objects moving in space-time. It is also the deception of today's artificial intelligence, which is more 'logo' to sell than the real thing. In this view, consciousness and experience are classified as simple phenomena that can be measured and described mathematically, when in fact they are not. This is why the current description of artificial intelligence is actually misleading."

"Ronald Reagan was right. The high-tech revolution was an only-in-America story. And he and so many others were right to laud people like Jobs and Gates and Hewlett and Packard as entrepreneurial heroes. Silicon Valley could never have come to be without the presence of visionary, audacious business leaders. Reagan and his conservative allies also were right when they argued that overly regulated markets and nationalized industries could present big hurdles to entrepreneurial markets—many of the globe's would-be Silicon Valleys attest to that. Yet, in its celebration of the free market, the individual entrepreneur, and the miracles of a wholly new economy, the Silicon Valley mythos left out some of the most interesting, unprecedented, and quintessentially America things about the modern tech industry. For these entrepreneurs were not lone cowboys, but very talented people whose success was made possible by the work of many other people, networks, and institutions."

"The chip industry gave the region a new name when Don Hoefler, a columnist for the weekly trade paper Electronic News, began a series in January 1971 entitled "Silicon Valley USA." The forty-mile Santa Clara Valley, which stretches from South San Francisco through Palo Alto to San Jose, has as its commercial backbone El Camino Real, the royal road that once connected California's twenty-one mission churches and is now a bustling avenue that connects companies and startups accounting for a third of the venture capital investment in the United States each year. "Growing up, I got inspired by the history of the place," Jobs said. "That made me want to a part of it.""

"Design came to Silicon Valley on the heels of engineering, and there were no reliable guides or even a clear sense of what it meant to "design" a variable attenuator or a helical-scan video recorder—much less of their relevance to the consumer market. Steinhilber reflected that "When I started out in the design field in New York most of our work was for the "white goods" industry (major appliances). When I moved to Ohio I had to learn the language of the machine-tool industry. But here was an infant field whose vocabulary was still in gestation. They were making it up as they went along." ... The first generation of practitioners approached this terra incognita on the basis of creativity, intuition, instinct, and taste, and they sought out inspiration from wherever they could find it: HP's Carl Clement traveled to MIT to experience "creative engineering"; Myron Stolaroff retreated to a cabin in the Sierra Nevada where he administered LSD to eight fellow Ampex engineers in an effort to unlock their latent creativity. At the Stanford Research Institute, computer pioneer Douglas Engelbart dabbled in the human potential movement and enrolled his unwitting staff in est seminars. ... With every new technological lurch the need for a more specialized set of professional skills became apparent, but also, paradoxically, for a wider vision."

"... I really do think, and not just because I happen to be writing a book about it, that the business of creating and foisting new technologies upon others that goes on in Silicon Valley is near the core of the American experience. The United States obviously occupies a strange place in the world. It is the capital of innovation, of material prosperity, of a certain kind of energy, of certain kinds of freedom, and of transience. Silicon Valley is to the United States what the United States is to the rest of the world. It is one of those places, unlike the Metropolitan Museum of Art, but like Las Vegas, that are unimaginable anywhere but in the United States."

"The décor was standard-issue Silicon Valley tech: industrial shag carpet, exposed ceilings revealing ventilation ducts and fire-retardant-covered steel beams, and the odd piece of home-brewed installation art: an imposing Lego wall featuring the blocky murals left by employees, another wall papered with the vaguely Orwellian posters the in-house printshop churned out."

"Consider California. Its wealth was initially built on gold mines. But today it is built on silicon and celluloid - Silicon Valley and the celluloid hills of Hollywood."

"... Gauss and Weber developed an electrical two wires telegraph in 1833 for the synchronisation of observations and tested the transmission of words through an elaborate code (Stevens et al. 1838). Their scientific breakthrough led to the first commercial patent by Wheatstone in 1837 for a five wires telegraph leading immediately to the exploitation of lines between London, Liverpool, Manchester and Birmingham along the new railroad network. This telegraph was using a code able to transmit 20 letters, the other ones having to be omitted. The continental testing of this system in 1840 involved the Director of the Royal Observatory of Belgium, Quetelet and Gauss. The scientific objective being network science coordinating magnetic observatories (Quetelet, 1840). Similar developments in the United States led Morse to design a stable telegraph with a coding system able to transmit many more characters which the US Supreme Court recognized in 1854 as the only patented telegraph system."

"During the voyage of the packet ship Sully from Havre to New York, in October, 1832, a conversation arose one day in the cabin upon electricity and magnetism. Dr. Charles T. Jackson, of Boston, described an experiment recently made in Paris with an electro-magnet, by means of which elec­tricity had been transmitted through a great length of wire, arranged in circles around the walls of a large apartment. The transmission had been instantaneous, and it seemed as though the flight of electricity was too rapid to be measured. Among the group of passengers no one listened more attentively to Dr. Jackson's recital than a New York artist, named Samuel Finley Breece Morse, who was returning from a three years' residence in Europe, whither he had gone for improve­ment in his art. ... "Why," said he, when the doctor had finished, "if that is so, and the presence of electricity could be made visible in any desired part of the circuit, I see no reason why intelli­gence might not be transmitted instantaneously by electric­ity." "How convenient it would be," added one of the passen­gers, "if we could send news in that manner." "Why can't we?" asked Morse, fascinated by the idea. From that hour the subject occupied his thoughts, and he began to exercise his Yankee ingenuity in devising the requisite apparatus."

"Every day the telegraph lines over the whole country cease work for a short time for the passage of a signal which is sent out from the Observatory at Greenwich exactly at 9 a.m. At the Observatory there is a Standard Clock, and that Standard Clock is the Earth itself. The sky is the dial. Its figures are the stars, and the line of sight of a telescope is the hand which points the hours."

"If it be asked what telegraphic system is specifically announced as the most developed and extended throughout the world, the answer would seem to be definitely and summarily given in the proceedings of the International Telegraphic Convention held in Paris in March, 1865, composed of the representatives of twenty of the principal nations of Europe, assembled for the special purpose of examining the various projects, in order to adopt a uniform system, and to regulate international telegraphy for their common benefit. They thus decree in their third article; "L'appareil Morse reste provisoirement adopté pour le service des fils internationaux." Concise as is this announcement, as the result of their deliberations, it proclaims that the Morse system—an American system—is preferred for special international service throughout Europe."

"In August 1858 President Buchanan exchanged greetings with Queen Victoria by means of the newly completed Atlantic cable. Commemorating that happy occasion, it is a pleasure to send best wishes to you on the one hundredth anniversary of the completion of the first Trans-Atlantic Cable. The development of international communications has brought the peoples of the world into close neighborhood. It is our hope that these means of communication will serve increasingly as a carrier of the message of peace for which we both work and pray."

"Outwards from London, Glasgow, Amsterdam and Hamburg there radiated the lines - shipping lines, railway lines, telegraph lines - that were the sinews of Western imperial power. Regular steamships connected the great commercial centres to every corner of the globe. They criss-crossed the oceans; they plied its great lakes; they chugged up and down its navigable rivers. At the ports where they loaded and unloaded their passengers and cargoes, there were railway stations, and from these emanated the second great network of the Victorian age: the iron rails, along which ran rhythmically, in accordance with scrupulously detailed timetables, a clunking cavalcade of steam trains. A third network, of copper and rubber rather than iron, enabled the rapid telegraphic communication of orders of all kinds: orders to be obeyed by imperial functionaries, orders to be filled by overseas merchants - even holy orders could use the telegraph to communicate with the thousands of missionaries earnestly disseminating West European creeds and ancillary beneficial knowledge to the heathen. These networks bound the world together as never before, seeming to 'annihilate distance' and thereby creating truly global markets for commodities, manufactures, labour and capital. In turn, it was these markets that peopled the prairies of the American Mid-West and the steppe of Siberia, grew rubber in Malaya and tea in Ceylon, bred sheep in Queensland and cattle in the pampas, dug diamonds from the pipes of Kimberley and gold from the rich seams of the Rand."

"At this time ambassadors remained essential due to the slowness of communications. It could take a month for a letter to travel from London to St. Petersburg; in 1822 the record for an urgent dispatch to Vienna was one week. But in the 1840s and 1850s railways started to spread across the Continent, while steamships dramatically reduced the duration of sea voyages. After the introduction of the electric telegraph in the 1870s, ciphered telegrams replaced written dispatches for urgent business. Now that messages could be sent and answered within hours, the embassies in far-flung capitals could be subject to daily supervision. In 1904 the British diplomat Sir Francis Bertie complained that an ambassador had been reduced to the status of a “damned marionette,” with the Foreign Office pulling the wires."

"Edison exhibited at the International Electrical Exhibition of Philadelphia an automatic telegraph for fac-simile transmission of despatches in Roman letters."

"The military played a significant role in the application of line telegraphy, not only in providing funds for development but also in testing the new ideas in the rigorous environment of military campaigns."

"Let me remind you that this great country was virtually created one hundred years ago by two inventions. Without them, the United States was impossible, with them, it was inevitable. Those inventions were, of course, the railroad and the electric telegraph. Today we are seeing, on a global scale, an almost exact parallel to that situation. What the railroads and the telegraph did here a century ago, the jets and communication satellites are doing now to all the world."

"... Few persons, probably, even among ornithologists realize what an enormous number of birds are killed by flying against these wires, which now form a murderous net-work over the greater part of the country. Until recently, I had myself no adequate idea of the destruction that is so quietly, insidiously, and uninterruptedly accomplished. My observations do not enable me to form even an approximate estimate of the annual mortality, and I suppose we shall never possess accurate data; but I am satisfied that many hundred thousand birds are yearly killed by the telegraph."

"Sir James Anderson and his crew on the ship Great Eastern attempted to lay down the second transatlantic cable in 1865, starting in the Irish island of Valentia. After about 1,062 miles of cable were laid down under the ocean, the cable snapped at the stern of the ship, halting the mission A second attempt was successfully made by the Great Eastern in the following year. On this journey, the crew also retrieved the lost end of the first cable and reconnected it to its original end. By the end of 1866, North America and Europe had two operating cables for telegraphic communications. Telegrams could be transmitted between North America and Europe at the average rate of 0.1 words per minute and at the cost of 10 dollars per page."

"Tous ceux qui se sont occupés de l'application pratique de la télégraphie électrique s'accordent facilement sur ce point, savoir, que l'immense majorité des perturbations sont sujets aux télégraphes électriques proviennent des variations dans l'intensité des courants employés. La cause des variations réside, soit dans la source des courants, soit dans les conditions variables du circuit conducteur. La première de ces causes peut être éliminée en faisant usage de sources constantes. Je me contente d'observer à cet égard que je donne la préférence à la pile de Daniell."

"(All those who have been concerned with the practical application of electrical telegraphy readily agree on this point, namely, that the immense majority of the disturbances which affect electrical telegraphs arise from variations in the intensity of the currents employed. The cause of the variations lies either in the source of the currents or in the varying conditions of the conductor circuit. The first of these causes can be eliminated by making use of constant sources. I am content, in this regard, to observe that I give preference to the Daniell cell.)"