All posts by John Psarouthakis

drjohn11aDr. John Psarouthakis, Executive Editor of www.BusinessThinker.com, Distinguished Visiting Fellow at the Institute of Advanced Studies in the Humanities, University of Edinburgh, Scotland, publisher of www.GavdosPress.com and Founder and former CEO, JP Industries, Inc., a Fortune 500 industrial corporation

Briefly about me, John Psarouthakis, PhD.

Briefly about me, John Psarouthakis, PhD.
I have observed the world from a remarkable range of vantage points, taking a proactive role in each. As an orphaned child I endured the Nazi occupation of Crete. I arrived in the United States with $15 in my pocket and speaking only a few English words, but graduated from MIT. Early in my career I led a Martin Corp. team researching nuclear power for deep space travel. I later led the Allis Chalmers Technology labs, then became a key player in finding, assessing, and acquiring manufacturing companies around the world for Masco Corp. My first entrepreneurial venture, JPIndustries Inc., became a Fortune 500 company before I sold it. Inc. Magazine twice named me entrepreneur, #entrepreneurtips , of the Year. I have served on several boards and advisory panels and lectured at MIT on Business Enterprise. In recent years I have vectored back to my academic roots-teaching as an adjunct professor at the Ross School of Business, University of Michigan and as a visiting fellow in Europe, more recently at the University of Edinburgh. A couple weeks ago I launched the Knowledge Transfer platform. Click on www.jpmcenter.com This site is being updated / modified based on comments and phone conversations on making it more effective. Thank you all.

What Jobs, Jobs, Jobs Really Means in the 21st Century

By Dr. John Psarouthakis, Executive Editor

As measured by the calendar, America entered a new century and a new millennium a couple decades ago.
Delineating a new epoch is not that easy. The next few decades will reveal true, and perhaps game-changing, measurements of where the United States stands. The benchmarks
will be our global status as a developer of new technology, as
a smart manufacturer of value-added products, as an education reformer amid new workplace realities, and as a competitor in the global marketplace. Those are the four vectors of
our national future—“vector” being a better term than benchmark because a vector signals dynamic movement rather than
a mere static measurement. These four vectors—in technology, manufacturing, education, and globalization—will play
recurring roles in this narrative. They will determine whether
we enjoy further generations as a prosperous world leader,
or something less but close to that, or something you would
rather not think about—something your children and grandchildren definitely would rather not think about.
This truly is a new epoch, or era, or age (take your pick)
that we have entered, or are entering, or are about to enter.
Aldous Huxley, in Brave New World, drew the American Century’s entry point not at the year 1900 but at Henry Ford’s
first assembly line. I don’t know exactly where historians and
novelists and philosophers will draw our new high-tech journey’s embarkation point, and whether it will be as starkly definitive as old Henry’s delivery of durable goods and mobility
to the masses.

–For my book on this topic please click on www.jpmcenter.com

I do know that the new world now upon us is even more
amazing, but that as someone said in show business, we “ain’t
seen nothin’ yet.” I know technology has been the driving
force of change, as is almost always the case—from the discovery of fire to the personal computer. I know America’s
standing as a technological innovator has kept us in the game
as this new era begins, but technology alone cannot keep us
there, and innovation is itself vulnerable to rapid decline. In
other words, of all the “tipping points” one hears about, this is
the big one: Will the United States prevail in this new age, or
will it merely endure? And if it merely endures, how well will
it endure? And, by the way, might we be in danger of not even
enduring, at least not in any prosperous way we have come to
expect? Most importantly, what proactive steps must we take
to give ourselves hope for sustaining a competitive edge, perhaps enough to forge another American Century?
That challenge is what The Technology Imperative in this book
this book and our nation’s future—is about. First, however,
I need to offer some thoughts about policy and politics, because all the above questions—and all the answers, mine and
yours and anyone else’s—will be irrelevant unless and until
the problems discussed in this chapter are defined, addressed,
and solved. If you find that prospect daunting, consider this:
The one institution that must solve these problems is itself the
biggest problem that must be solved. Our intransigent, dysfunctional, gridlocked, elected federal government must ride
to the rescue of itself. It is as if your town council met once a
week discussing old business in perpetuity without acting on
the problems and on the possible solutions, meanwhile ignoring vital new agenda items. Tip O’Neill,
one of the 20th Century’s consummate politicians, famously
said that all politics is local. Sorry, Tip, but any local government that bundled misfeasance, malfeasance and nonfeasance
into such an ineffectual package would be driven from office
this very evening.
Washington’s logjam of problematical old business cannot
be addressed by mere political promises. Most of these problems in fact are political promises run amok—the multi $-trillionand-growing national debt being the perfect example. The 537 men and women we elect to national office fiddled while these problems reached critical mass. Now these politicians have the power to let 320 million Americans enter the new epoch and compete…or the power to be 537 dinosaurs dragging
us into history’s tar pit.
I want to be an optimist about which choice our elected
officials will make, but my experience watching politicians at
work—most especially groups of politicians at work—suggests all bets should be hedged. The first company I founded
was operating successfully in five countries when I divested
my interest. Earlier, as an executive for another company, I
conducted corporate business in several nations—often establishing that company’s footprint in a new global outpost. I
have been a guest lecturer at major universities in Scotland,
the Netherlands, and Germany. I have enjoyed decades of
world travel and observation, and how can one observe a
place without observing its politics? In one of the most beautiful regions on earth, my native land, I have stayed in touch
with friends and associates struggling endlessly in an effort to
forge a competitive society and economy while their political
institutions push in the opposite direction. In case you haven’t
guessed, Psarouthakis is a Greek name.
4 The Technology Impera ve
My observation has been that politicians, be they Greeks
or Germans or Michiganders, share a pre-eminent trait. No
matter what happens around them they will act to pursue their
political interest, which primarily is to get elected. And reelected. And re-elected again. If making a crucial decision
would mean constituents must feel some pain (real or imagined), then that decision gets pushed aside. If an officeholder’s
constituents are split down the middle on a crucial issue, then
that issue gets pushed aside. If it seems a crucial issue can
be kicked down the road for years until the politician retires
and someone else must deliver unwanted news to voters, then
that issue gets ignored time and time again. If a crucial issue
is one on which party leaders (and their re-election machine)
demand a lockstep vote, then that issue gets a lockstep vote.
Traditionally, the “pressing” part of “this is a pressing issue” managed to get things accomplished in Washington. The
fringes on left or right made their points, sometimes even
serving as the cutting edge of progress. But the center would
hold, common ground would be found, and the nation was
governed. In recent years the political center has been overcome by a flood of ideological purity from either side, the
eternal quest for re-election has become more time-consuming, and new media have put our politicians onstage every
moment of the day. The result? Our government has become
so dysfunctional one would think Washington is not the capital of the world’s last superpower, but a Peter Sellers comedy
set in one tiny duchy or another—except that, unlike a Peter
Sellers movie, these people are not amusing. Each election
day one hopes the lunacy has gone away and some business
will get done. Instead, the new election cycle begins the day
after the previous election cycle.
This manuscript was written in the first half of 2012, an
ar of he problem and par of he solu on 5
election year, a noisy time that only amplifies the irrationality, the refusal to take serious business seriously, to a deafening level. One day, while thinking about how best to discuss
profound challenges raised by the new technological age and
the global economy, I took a break and turned on television
news. I found one political party’s presidential contenders
bickering about birth control and the sitting president of the
United States squandering a ripe opportunity to move the nation toward energy self-sufficiency (mocking his supposedly
anti-green political foes while at the same time telling Brazil
to drill, baby, drill). No wonder the pundits often try to make
sense of this circus by asking who is the smart person in the
room–or, even more telling, who is the adult in the room?
Turning on TV news most anytime will also, within a minute or two, produce a politician chanting “Jobs! Jobs! Jobs!”
In today’s climate that chant somehow passes for intelligent
discourse. It is not. It’s political pandering, albeit effective
pandering, which is why both parties loudly indulge the same
chant. Of course we all want every American to have a livelihood and the best possible job. The real test of that chant has
nothing to do with political push-me, pull-you rhetoric about
whether the economy can best be grown by raising taxes or
by lowering taxes. The real test lies in the 21st Century vectors cited in this chapter’s first paragraph—none of which can
be addressed until Congress and the White House clean up
their unfinished business. Keep in mind that image of a town
council playing and replaying “Groundhog Day.” If any smart
adults are in that room they are in a minority, and clearly none
has the capacity to lead the kids in the room toward rational
action.
The future of American jobs, and fundamental change in
the workforce, is the ultimate subject of this book. In the end

“Better Makes Us Best” book reviews

By Dr. John Psarouthakis, Founder and Former Chairman and CEO, JP Industries Inc. and Executive Editor, The Business Thinker.

“‘Better is as better does,” I wrote in Chapter Four. “Each person, each day. Not startling productivity increases by super heroes.” Underlying this philosophy of sensible, incremental improvement is a fundamental respect for the integrity and potential of each employee. Note, for example, how I answered when I was asked ‘what advice I would offer leaders seeking to promote a better flow of communication from the plant floor through various layers of management’, “Keep the number of management Layers as few as possible. Many layers dilute or even frequently change the meaning of what is to be communicated”.

“Dr. Psarouthakis thought he wrote a book exclusively for his own industry. But in fact, Better Makes Us Best knows no limits. It contains some fabulous truths for [anyone] seeking fulfillment in today’s stressful working world.”—Peter G. Hanson, M.D., Author of The Joy of Stress and Stress for Success

“Dr. John is an American success story. Every one of us can learn from the lessons and principles in his life. This book is a good place to begin.”—David Lawrence Jr., Publisher and Former Chairman of Detroit Free Press

“Psarouthakis’ spirited message is simple, direct, clear, entertaining and refreshingly honest. It would inspire the troops of any and all companies–from the floor sweeper right on up to the CEO–to stand up and cheer for its human warmth and basic truths. Terrific book.”—Carolyn Smith, Business Writer

‘I would say it’s extremely important for a manager to understand that the structure which gives him or her authority is an artificial one. You must never forget that the people who work for you are unique individuals who want to participate as much as possible in the improvement and success of the company.'” —Norman Bodek, Former President of Productivity Inc., Publisher of the First Edition of Better Makes Us Best

“Trying for the absolute best tomorrow is easy to imagine, but it’s far too difficult a goal to achieve. On the other hand, trying your best to be better today, tomorrow, and the day after tomorrow, and so on, is an achievable goal and will help you become your best. In short, I highly recommend that anyone interested in improving the quality of products, services, and ultimately the experience of the work itself, read and consider the message in this book. I urge you to take note of the fact that this message has meaning for every employee, not just those on the shop floor.”—Gilbert R. Whitaker, Jr., Former Dean of University of Michigan’s Ross School of Business

Better Makes Us Best

By Dr. John Psarouthakis, Founder and Former Chairman and CEO, JP Industries Inc. and Executive Editor, The Business Thinker.

I wrote a small book because I believe that “Better Makes Us Best” to explain my belief that anyone can achieve his / her potential by setting milestones / goals for constant improvement. It is a philosophy that I began to think and implement while a tee ager particularly in sports.

 I got the same satisfaction if I did better than the previous time though I wished I could be the best. In time I applied this “Credo” to the over 20 underperforming manufacturing businesses in the USA and western Europe I bought for JP Industries, Inc that I founded with the strategy of acquiring such businesses, paid the expected lower price and create a higher value by improving the performance significantly by implementing this philosophy by providing the opportunity to employees to improve their ability through training and special coerces at the near by community colleges and /or equipment suppliers. This required, often, higher relevant technology. In a related article back then, BusinessWeek magazine described my approach as a “blending high tech with worker involvement”. You will find details of this book in the recently launched platform on Knowledge Transfer: Click on www.jpmcenter.com You can also connect with me on this book by sending me your questions via email as instructed in site.

JP Management Center, llc.

Dr. John Psarouthakis,

Executive Editor , www.businessthinker.com
Managing Director. JPMCenter

Hello Friends, Colleagues, and Associates. Short time ago I posted my intention of soon to launch the Knowledge Transfer platform. I did this last evening. You will find it by going to www.jpmcenter.com. I hope you go through it and find it engaging. Please let me know of your comments.

Below you’ll find a comment about me:

Izak Duenyas, Professor of Technology and Operations Ross School of Business The University of Michigan, September 17, 2015,

“Dr. John is a respected academic and business leader. He has helped multiple organizations with his extensive leadership abilities, strategic thinking and great skills in organization development. His books and articles have also significantly contributed to a better understanding of manufacturing, and building competitive businesses. It has been a pleasure to get to know Dr. John and I have benefited tremendously from his wisdom”

Briefly for those that have not looked for my background in LinkedIn or other sites let me briefly mention that over 1250 Linkedin members have endorse my skills and most for developing business strategies, and strategic growth plans as well as for start ups.

I was born in the Greek Island of Crete where I finished a Science Curriculum High School. Then I got a Bachelor’s and Master’s degrees at MIT, moved to Maryland to work in the space program at the Martin Company and in parallel got my PhD from the University of Maryland at College Park. Subsequently I moved to managerial non-space related work at the Allis Chalmers (A-C) and Masco Corporation. Allis Chalmers sent me to attend the Program for Executives, today’s equivalent for an Executive MBA, at the School of Business at Carnegie Mellon University.

At A-C, I developed managerial strategies for the Corporate R&D center to conduct R&D closer to the operating units product lines. At Masco developed strategic growth plan for the plumbing devision and for Masco to become operational in Europe. Masco’s Faucet unit within five years captured 50% of the market and Masco became operational in Germany and Italy.

Later on I started JP Industries, Inc with the strategy of acquiring underperforming companies in manufacturing and distribution business fix them by using relevant technologies and making these units more productive and strongly more competitive.

At that time many of manufacturing businesses were moving overseas.. None of improved units relocated even within the USA. A very successful strategy.

After JPIndustries was sold I moved to academia teaching at Ross School of Business, U of Michigan, and lecturing at MIT, business strategy and acquisitions, and authored / Co-authored several books and provided as a consulting service senior executive level coaching.

Through lectures I was invited to give I began to think of a business on transferring knowledge.

One of my great strategies was and is writing the book “Better Makes Us Best”. When I was a young scientist the presidents of the companies used to send to the employees letters for an update on the company. I found them not very helpful, so I came up with the idea of writing a motivating book on the importance on doing “Better” to day than yesterday and tomorrow than today. It worked very well in turning around problem companies we acquired. It was distributed to all employees free of cost for USA operations as well as for those overseas. The book and the connection with me is available in the new site launched, www.jpmcenter.com

Here are a couple reviews of this book:

“Dr. Psarouthakis thought he wrote a book exclusively for his own industry. But in fact, Better Makes Us Best knows no limits. It contains some fabulous truths for [anyone] seeking fulfillment in today’s stressful working world.”—Peter G. Hanson, M.D., Author of The Joy of Stress and Stress for Success

“Dr. John is an American success story. Every one of us can learn from the lessons and principles in his life. This book is a good place to begin.”—David Lawrence Jr., Publisher and Former Chairman of Detroit Free Pres

CHANGES IN THE INFORMATION INDUSTRY


Dr. John Psarouthakis

Executive Editor

 

In addition to the major shifts that have already occurred, we now have also other shifts caused by the explosion occurring in front of us in the information industry.

  • One change is globalization that has rendered national borders meaningless.  This in turn has increased competition for goods and services by several orders of magnitude.  Today, companies anywhere in the globe can compete in markets which in the recent past were not accessible to them.  They can have the advantage of new technologies, low-paid and highly skilled labor, and capital availability as they need it.

  • Second change:  Quality of labor.  In 1972, one third of the work force in the USA were “brain power” related, while two thirds were people that used “muscle power.”  Now, it is exactly inversed ?  two third’s “brain power,” one third “muscle power.”

  • Third change:  Whether the worker is “brain power” or muscle power, he or she must be able to think for themselves.  They must be involved and make critical decisions on the goods and services they are engaged to produce.

  • Fourth change:  We must be a team
  • Fifth and most important:  Business executive leadership is redefined.
    – Make technology your friend
    – Be innovative
    – Communicate
    – Motivate
    – Solicit participation by teammates
    – Be a Visionary
    – Be involved in the affairs of the community
    – Be sensitive to employees problems beyond the workplace
    – Attract the financial community
    – Be analytical / conceptual
    – Be sensitive to the bottom line
    – Be aware and sensitive to societal needs and the corporation’s
      participation in fulfilling them
    – Contribute time and money to worthy causes
    – Be able to walk on water

What else is happening out there in the real world?

THE FUTURE OF AMERICAN MANUFACTURING


Dr. John Psarouthakis

Executive Editor

 

Let me illustrate by looking at three pivotal industries: motor vehicles; electronic computing equipment; and machine tools. In the past couple decades the share of the domestic market held by domestic manufacturers producing in domestic plants has declined from approximately 80% to about 50% for motor vehicles, from 90% to below 60% for computing equipment, and from 80% to below 60% for machine tools. In recent years there has been a move toward recovery.

It is hoped that we can find a way to put our talents together to deal with the very real problems facing manufacturing in the USA. My purpose here is to suggest ways to do so.

We have one relatively simple decision to make: do we accept the current situation, continuing the decline in our manufacturing base or do we recognize that manufacturing and industries which support our manufacturing base are critical to our position in a global economy and commit intellectual and financial resources to improve our manufacturing base?  Recognizing the situation and doing something about it, however, are two very different issues.

Nevertheless, manufacturing accounts for nearly 20% of our Gross National Product, as it has for about 40 years. There is a much lower percentage of the total work force employed in manufacturing, but they are responsible for a large part of our economy.

In addition, our burgeoning service industries are in fact dependent greatly upon manufacturing. About half of all U.S. service employment is tied to manufacturing related activities.

There is a second reason why manufacturing really matters. Most if not all of us to some extent value the principles, “free” market economic system, and political structure of our nation. Some of us also feel it is important that we remain influential and powerful

in an uncertain and sometimes dangerous world. We cannot maintain our influence on the world affairs, if we become a second rate industrial power. While I don’t see us in the same context as colonial Great Britain, the declining influence of Britain for years was in part due to its neglect of its technological and industrial bases.

If we value our political and economic systems, we must strengthen and enhance our manufacturing base. But what are the specific tasks we need to address? As I see it, there are three tasks to be addressed. First, we must improve manufacturing related technology development and deployment. Second, we must improve the art of managing our manufacturing base. And, third we must “up-grade” and strengthen our human resources in manufacturing.

Energy and ingenuity in response to Covid-19

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  • This research started as part of a project started in class 2.168 (Learning Machines), which was instructed by Professor George Barbastathis (pictured).Photo: Tony Pulsone
  • This figure shows the model prediction of the infected case count for the United States following its current model with quarantine control and the exponential explosion in the infected case count if the quarantine measures were relaxed. On the other hand, switching to stronger quarantine measures as implemented in Wuhan, Italy, and South Korea might lead to a plateau in the infected case count sooner.Image courtesy of the researchers.
  • Schematic of the physics informed neural network used to encode information about the quarantine strength function, Q(t).Image courtesy of the researchers.
  • This research started as part of a project started in class 2.168 (Learning Machines), which was instructed by Professor George Barbastathis (pictured).Photo: Tony Pulsone
  • This research started as part of a project started in class 2.168 (Learning Machines), which was instructed by Professor George Barbastathis (pictured).Photo: Tony Pulsone
  • This figure shows the model prediction of the infected case count for the United States following its current model with quarantine control and the exponential explosion in the infected case count if the quarantine measures were relaxed. On the other hand, switching to stronger quarantine measures as implemented in Wuhan, Italy, and South Korea might lead to a plateau in the infected case count sooner.Image courtesy of the researchers.

Model quantifies the impact of quarantine measures on Covid-19’s spread

A machine learning algorithm combines data on the disease’s spread with a neural network, to help predict when infections will slow down in each country.

Mary Beth Gallagher | Department of Mechanical Engineering
April 16, 2020Press Inquiries

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The research described in this article has been published on a preprint server but has not yet been peer-reviewed by scientific or medical experts.

Every day for the past few weeks, charts and graphs plotting the projected apex of Covid-19 infections have been splashed across newspapers and cable news. Many of these models have been built using data from studies on previous outbreaks like SARS or MERS. Now, a team of engineers at MIT has developed a model that uses data from the Covid-19 pandemic in conjunction with a neural network to determine the efficacy of quarantine measures and better predict the spread of the virus.

“Our model is the first which uses data from the coronavirus itself and integrates two fields: machine learning and standard epidemiology,” explains Raj Dandekar, a PhD candidate studying civil and environmental engineering. Together with George Barbastathis, professor of mechanical engineering, Dandekar has spent the past few months developing the model as part of the final project in class 2.168 (Learning Machines).

Most models used to predict the spread of a disease follow what is known as the SEIR model, which groups people into “susceptible,” “exposed,” “infected,” and “recovered.” Dandekar and Barbastathis enhanced the SEIR model by training a neural network to capture the number of infected individuals who are under quarantine, and therefore no longer spreading the infection to others.

The model finds that in places like South Korea, where there was immediate government intervention in implementing strong quarantine measures, the virus spread plateaued more quickly. In places that were slower to implement government interventions, like Italy and the United States, the “effective reproduction number” of Covid-19 remains greater than one, meaning the virus has continued to spread exponentially.

The machine learning algorithm shows that with the current quarantine measures in place, the plateau for both Italy and the United States will arrive somewhere between April 15-20. This prediction is similar to other projections like that of the Institute for Health Metrics and Evaluation.

“Our model shows that quarantine restrictions are successful in getting the effective reproduction number from larger than one to smaller than one,” says Barbastathis. “That corresponds to the point where we can flatten the curve and start seeing fewer infections.”

Quantifying the impact of quarantine

In early February, as news of the virus’ troubling infection rate started dominating headlines, Barbastathis proposed a project to students in class 2.168. At the end of each semester, students in the class are tasked with developing a physical model for a problem in the real world and developing a machine learning algorithm to address it. He proposed that a team of students work on mapping the spread of what was then simply known as “the coronavirus.”

“Students jumped at the opportunity to work on the coronavirus, immediately wanting to tackle a topical problem in typical MIT fashion,” adds Barbastathis.

One of those students was Dandekar. “The project really interested me because I got to apply this new field of scientific machine learning to a very pressing problem,” he says.

As Covid-19 started to spread across the globe, the scope of the project expanded. What had originally started as a project looking just at spread within Wuhan, China grew to also include the spread in Italy, South Korea, and the United States.

The duo started modeling the spread of the virus in each of these four regions after the 500th case was recorded. That milestone marked a clear delineation in how different governments implemented quarantine orders.

Armed with precise data from each of these countries, the research team took the standard SEIR model and augmented it with a neural network that learns how infected individuals under quarantine impact the rate of infection. They trained the neural network through 500 iterations so it could then teach itself how to predict patterns in the infection spread.

Using this model, the research team was able to draw a direct correlation between quarantine measures and a reduction in the effective reproduction number of the virus.

“The neural network is learning what we are calling the ‘quarantine control strength function,’” explains Dandekar. In South Korea, where strong measures were implemented quickly, the quarantine control strength function has been effective in reducing the number of new infections. In the United States, where quarantine measures have been slowly rolled out since mid-March, it has been more difficult to stop the spread of the virus.

Predicting the “plateau”

As the number of cases in a particular country decreases, the forecasting model transitions from an exponential regime to a linear one. Italy began entering this linear regime in early April, with the U.S. not far behind it.

The machine learning algorithm Dandekar and Barbastathis have developed predicted that the United States will start to shift from an exponential regime to a linear regime in the first week of April, with a stagnation in the infected case count likely between April 15 and April 20. It also suggests that the infection count will reach 600,000 in the United States before the rate of infection starts to stagnate.

“This is a really crucial moment of time. If we relax quarantine measures, it could lead to disaster,” says Barbastathis.

According to Barbastathis, one only has to look to Singapore to see the dangers that could stem from relaxing quarantine measures too quickly. While the team didn’t study Singapore’s Covid-19 cases in their research, the second wave of infection this country is currently experiencing reflects their model’s finding about the correlation between quarantine measures and infection rate.

“If the U.S. were to follow the same policy of relaxing quarantine measures too soon, we have predicted that the consequences would be far more catastrophic,” Barbastathis adds.

The team plans to share the model with other researchers in the hopes that it can help inform Covid-19 quarantine strategies that can successfully slow the rate of infection

Posting of new articles

Due to the CORONAVIRUS Pandemic the posting of articles and the launching of the Knowledge Transfer Platform have slowed down significantly. The posting will continue as possible. We will notify you when we get back to a “normal” schedule. The businessthinker.com site will continue to be accessible to those interested and able to use the Internet.

When will the FDA approve a Vaccine? See what 20,000 people believe

Email by Dr. Peter Diamandis

Greek American engineer, physician, and entrepreneur best known for being founder and chairman of the X Prize Foundation,  co-founder and executive chairman of Singularity University and coauthor of The New York Times bestsellers Abundance: The Future Is Better Than You Think and BOLD: How to Go Big, Create Wealth, and Impact the World. He is former CEO and cofounder of the Zero Gravity Corporation, cofounder and vice chairman of Space Adventures Ltd., founder and chairman of the Rocket Racing League, cofounder of the International Space University, cofounder of Planetary Resources, founder of Students for the Exploration and Development of Space, vice chairman and cofounder of Human Longevity, Inc.[2] pact the World.

Here is an email sent to me with encouraging news on the Coronavirus pandemic. This information is entirely Dr. Diamandis’ content sent to me and I thought it to be of interest to the visitors / readers of the Business Thinker, LLC .

When will the FDA approve the first vaccine? How many people (in total) will be infected by COVID-19 globally over the next year?When will the stock market (DOW) hit bottom?

(Note: If you like this blog, share it! | Facebook | Twitter | LinkedIn | Read on Diamandis.com | Or send your friends and family to this link to subscribe!)Ever hear of “Crowd Intelligence” or “Wisdom of the Crowd?” It’s a process by which a large enough group of sufficiently knowledgeable people are able to make a reasonably accurate prediction on a future outcome. he Crowd Polling” to help us answer today’s most important questions.

Ever hear of “Crowd Intelligence” or “Wisdom of the Crowd?”
It’s a process by which a large enough group of sufficiently knowledgeable people are able to make a reasonably accurate prediction on a future outcome.
Whether in predicting election outcomes, economic trends, sports results, or even terrorist activity, crowdsourced wisdom has time and again matched or (often) outperformed expert predictions.
Starting in the early 2010s, a project sponsored by the U.S. Director of National Intelligence — the Good Judgment Project — demonstrated that 3,000 moderately informed minds could together outperform even the top foreign policy experts or CIA analysts on questions ranging from Turkey’s adoption of a new constitution, to U.S.-E.U. trade deals.
“We just needed lots of people; we had very few restrictions […] We wanted people who were interested, and curious, who were moderately well-educated and at least aware enough of the world around them that they listened to the news,” explained UC Berkeley associate professor Don Moore, who co-led the project.
According to one report, when ‘super-predictors’ (crowdsourced individuals who are correct most often) are grouped in teams, these smaller ‘crowds’ can outperform agents with access to classified information by up to 30 percent.

So, welcome to FutureLoop, a platform that combines Machine Learning-driven news aggregation with “Wisdom of the Crowd Polling” to help us answer today’s most important questions.Our first question is: “What is the earliest date by which the FDA will approve the first COVID-19 Vaccine?“Click on the question to answer and participate!What is FutureLoop and how do I use it? FutureLoop uses machine learning (ML) and human intelligence (HI) in a symbiotic loop, one that iterates to produce accurate, aggregate predictions, and offers anonymized reasonings for those predictions.By anonymizing and aggregating thousands, or even millions of user-submitted predictions and justifications, FutureLoop then presents these analyses to users, allowing you to interrogate the analysis, and then update your own estimate whenever you change your mind.Users can also vote on the reasons provided by other users for their predictions (a crowd-filtering layer that helps us understand why people lean the way they do).These upvoted predictions and reasons, in turn, get put at the top of the heap, alerting all users of the latest crowdsourced opinions.

Join the LoopJoin FutureLoop: Over the past 2 years, I’ve built a machine-learning algorithm that scrapes the world’s news, science journals and social feeds every day to understand how exponential technologies are impacting specific topics & industries. It’s called FutureLoop. I was getting ready to share it publicly, but the current crisis has changed my plans.Last week, I launched FutureLoop Pandemic Special Edition,” a daily comprehensive update on the impact of exponential technologies (AI, Robotics, Drones, Cellular Medicine, CRISPR, Networks & Sensors) on the COVID-19 pandemic.If you participate, FutureLoop will update you every day on the latest breakthroughs in detection, prevention & cure of the COVID-19. This product is still in Beta, but it’s powerful, high-quality info, and it’s free.Your mindset is your most important tool during this pandemic. Making sure you are consuming the right information is critical to maintaining that mindset. FutureLoop offers “Data-Driven Optimism.”You can subscribe here. It’s free, fun + fast (20 seconds).(Note: If you like this blog, share it! | Facebook | Twitter | LinkedIn | Read on Diamandis.com | Or send your friends and family to this link to subscribe!)
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