1. 1-Sentence-Summary:
1.1. Bold shows you that exponential technology has democratized the power to change the world and build wealth, by putting it into everyone’s hands and explains which trends entrepreneurs will most benefit from in the future, how to capitalize on them and which challenges are really bold enough to impact us all.
2. Favorite quote from the author:
2.1. "Right now, and for the first time ever, a passionate and committed individual has access to the technology, minds, and capital required to take on any challenge." - Peter Diamandis
3. 3 lessons:
3.1. The power to change the world is in your hands, right now.
3.1.1. Have you ever heard of Moore’s law?
3.1.1.1. Gordon Moore was the founder of Intel, and he discovered that computational power seemed to double every 12 months, since by then his company was usually able to place twice as many transistors on a chip of the same size.
3.1.1.2. As it turns out, this exponential transgression has proven itself true over the years, which has lead to exponential growth in technology.
3.1.1.3. An example:
3.1.2. When technology becomes digital, its potential growth can then be almost infinite, which has democratized the power to change the world.
3.1.2.1. Thanks to the internet and universally available technology, you have the power to build something that might change the world.
3.1.2.2. In case you need funding, Kickstarter’s got you covered.
3.2. The businesses with the highest impact on the world will rely on exponential technology.
3.2.1. While some great businesses have been built with a single domain and some server space, the ones with the highest impact in the future will require investments in technology.
3.2.2. Two areas with huge impact and billions of potential dollars in profit are artificial intelligence (AI) and sensor technology.
3.2.2.1. AI will play a huge role in our lives in the coming decades.
3.2.2.1.1. Siri is just the beginning.
3.2.2.1.2. Imagine being able to have an actual conversation with your phone, where it not only responds to logical requests, but can also catch the slight nuances in your voice’s tonality and adds an emotional twist to its answers, and even make jokes.
3.2.2.1.3. If you want to get an idea of what will be possible in this field, some great movies to watch are Her, I Robot and the Iron Man trilogy.
3.2.2.2. When you hear the word sensor you probably think of military technology or the beeping gates at the doors of a fashion store – but we’re long past that.
3.2.2.2.1. Right now, sensors in glasses can track how much you drink over a month, let your plants tweet at you when they need water, and track your steps, heartbeat, stress level and sleep.
3.2.2.2.2. If you removed all sensors from all iPhones worldwide and laid them out on the ground, you could cover half of Manhattan right now.
3.2.3. The reason these technologies will be among the most successful is that they can be scaled exponentially – for example because their manufacturing costs are cut in half from one year to the next, making them available to the entire population really quickly.
3.3. You can use the skunk methodology to build your business quickly.
3.3.1. Ever heard the term skunk works?
3.3.1.1. Originally taken from a comic strip, the name was given to a small group of engineers in 1943, who were tasked with developing a fighter jet that could stand against the then advanced German aircraft technology.
3.3.1.2. Skunk Works built the first US jet fighter in 143 days.
3.3.2. The methodology they used let them act incredibly fast, and it’s still used today, and has led to some of the world’s most advanced jet fighter planes, like the Nighthawk or the Raptor.
3.3.3. There are three characteristic features of any “skunk works” operation:
3.3.3.1. It has one single, clearly defined goal.
3.3.3.2. It is not weighed down by any bureaucracy whatsoever.
3.3.3.3. Its team can work in an isolated, focused environment, without distractions.
3.3.4. Skunk Works built that fighter jet on nothing more than a handshake, all the financial and legal autonomy they needed, and in a quiet little workshop, which allowed them to stay in the flow state as long as they needed to.
3.3.5. If you have an idea that you think is groundbreaking, create such a skunk works environment for yourself and within a few weeks or months you’ll know whether the idea holds up in the real world of exponential technology, instead of wasting years of dabbling with it, but never really making any progress.