Tag: innovation
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The Rockefeller theory of time travel
Morgan Housel: Charlie Munger was born in 1924. The richest man in the world that year was John D. Rockefeller, whose net worth equaled about 3% of GDP, which would be something like $700 billion in today’s world. Seven hundred billion dollars. OK. But make a short list of things that did not exist in…
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How We Got to Now
I couldn’t put down How We Got To Now, Steven Johnson’s six-part book on “innovations that made the modern world.” The book is an exposition on the theory of the “hummingbird effect,” which occurs when “an innovation, or cluster of innovations, in one field ends up triggering changes that seem to belong to a different domain altogether.”…