The Law of the Telecosm

An excerpt from my book holds true today [Gilder's Daily Prophecy] September 27, 2019 [ARCHIVES]( | [UNSUBSCRIBE]( Can You Follow These 3 Simple-Steps On This Whiteboard? [Nomi]([If you can sit down, watch this video, and follow these 3-steps...]( You could walk away with an absolute fortune by (no later) than this Tuesday afternoon. [It's so simple that anyone can do it...]( And everyday Americans are already collecting a fortune. [Click here to watch the FREE video of these 3-steps!]( [Publisher’s Note:] Today marks the second day of our three-day “Featured Prophecies” series, which can be found at the bottom of today’s Gilder’s Daily Prophecy issue. Be sure to read all the way to the bottom for some unique investment insights from our special guest. The Law of the Telecosm [George Gilder]Dear Daily Prophecy Reader, I want to share an important excerpt from Telecosm with you. The working of the law of the telecosm has launched an era of unprecedented advances in telecommunications… Hovnanian's campaign into the spectrum began when a cable company announced one day in 1985, under the Cable Act of 1984 and franchise rights granted by local governments, it had the right to wire one of his housing developments then under construction. Until that day, Hovnanian's own company could package cable with his homes through what are called satellite master antenna TV systems. In essence, each Hovnanian development had its own cable headend where programs are collected and sent out to subscribers. When the cable company, now Monmouth CableVision, went to court and its claim was upheld by a judge, Hovnanian sought alternatives. First he flirted with the idea of having the phone company deliver compressed video to his homes. In 1986, in the era before FCC Commissioner Alfred Sikes, that was both illegal and impractical. Then he met Bernard Bossard and decided to attack through the air. An early pioneer in microchips who had launched a semiconductor firm and eventually sold it to M/A COM, Bossard was familiar with both the soaring power of computers and the murky problems of broadband noise that have long restricted the air to a small number of broadcast AM TV stations. Attacking Through the Air Air delivery of cable television programming had long seemed unpromising. Not only was there too little spectrum available to compete with cable, but what spectrum there was, was guarded by the FCC and state public utilities commissions. Nonetheless, in the early 1990s "wireless cable" did become a niche market, led by Microband Wireless Cable and rivals and imitators across the land. Using fragments of a frequency band between 2.5 and 2.7 gigahertz (billions of cycles per second), Microband, after some financial turmoil, now profitably broadcasts some 16 channels to 35,000 New York City homes in line of sight from the top of the Empire State Building. As long as they are restricted to a possible maximum of 200 megahertz and use AM, however, wireless firms will no longer be able to compete with the cable industry. Cable companies offer an installed base of potential gigahertz connections and near universal coverage. Having spent much of his life working with microwaves for satellites and the military, Bossard had a better idea. He claimed he could move up the spectrum and pioneer on frontiers of frequency between 27.5 and 29.5 gigahertz, previously used chiefly in outer space. That would mean he could command in the air some half a million times the communications power, or bandwidth, of typical copper telephone links, some ten times the bandwidth of existing wireless cable, some four times the bandwidth of the average cable industry coaxial connection, and twice the bandwidth of the most advanced cable systems. The conventional wisdom was that these microwaves (above about 12 gigahertz) are useless for anything but point-to-point transmissions and are doubtful even for these. For radio communication, the prevailing folklore preferred frequencies that are cheap to transmit long distances and that can penetrate buildings and tunnels, bounce off the ionosphere or scuttle across continents along the surface of the earth. The higher the frequency, the less it can perform these feats essential to all broadcasting ― and the less it can be sent long distances at all. Moreover, it was believed, these millimeter-sized microwaves not only would fail to penetrate structures and other obstacles but would reflect off them and off particles in the air in a way that would cause hopeless mazes of multipath. Multipath would be translated into several images, i.e., ghosts, on the screen. Finally, there was the real show-stopper. Everyone knew that these frequencies are microwaves. The key property of microwaves, as demonstrated in the now ubiquitous ovens, is absorption by water. Microwaves cook by exciting water molecules to a boil. Microwave towers are said to kill birds by irradiating their fluids. Microwave radar systems won't work in the rain. Mention microwaves as a possible solution to the spectrum shortage, and everyone ― from editors at Forbes to gurus at Microsoft, from cable executives to Bell Labs researchers ― laughs and tells you about the moisture problem. So it was no surprise that when in 1986 Bossard went to M/A COM and other companies and financiers with his idea of TV broadcasting at 28 gigahertz, he was turned down flat. Amid much talk of potential "violations of the laws of physics," jokes about broiling pigeons and warnings of likely resistance from the FCC, he was spurned by all. In fairness to his detractors, Bossard had no license, patent, or prototype at the time. But these holes in his plan did not deter Vahak Hovnanian and his son Shant from investing many millions of dollars in the project. It could be the best investment the Hovnanian tycoons ever made. New Rule of Radio For 35 years, the wireless communications industry has been inching up the spectrum, shifting slowly from long and strong wavelengths toward wide and weak bands of shorter wavelengths. Mobile phone services have moved from the 1950s radio systems using low FM frequencies near 100 megahertz, to the 1960s spectrum band of 450 megahertz, to the current cellular band of 900 megahertz accommodating more than 10 million cellular subscribers in the US. During the 1990s, this trend will accelerate sharply. Accommodating hundreds of millions of users around the world, cellular communications will turn digital, leap up the spectrum and even move into video. Shannon's laws show that this will impel vast increases in the cost-effectiveness of communications. In general, the new rule of radio is the shorter the transmission path, the better the system. Like transistors on semiconductor chips, transmitters are more efficient the more closely they are packed together. As Peter Huber writes in his masterly new book, The Geodesic Network 2, the new regime favors "geodesic networks," with radios intimately linked in tiny microcells. As in the law of the microcosm, the less space, the more the room. This rule turns the conventional wisdom of microwaves upside down. For example, it is true that microwaves don't travel far in the atmosphere. You don't want to use them to transmit 50,000 watts of Rush Limbaugh over 10 Midwestern states, but to accommodate 200 million two-way communicators will require small cells; you don't want the waves to travel far. It is true that microwaves will not penetrate most buildings and other obstacles, but with lots of small cells, you don't want the waves to penetrate walls to adjacent offices. Microwaves require high-power systems to transmit, but only if you want to send them long distances. Wattage at the receiver drops off in proportion to the fourth power of the distance from the transmitter. Reducing cell sizes as you move up the spectrum lowers power needs far more than higher frequencies increase them. Just as important, mobile systems must be small and light. The higher the frequency, the smaller the antenna and the lighter the system can be. All this high-frequency gear once was prohibitively expensive. Any functions over two gigahertz require gallium arsenide chips, which are complex and costly. Yet the cost of gallium arsenide devices is dropping every day as their market expands. Meanwhile, laboratory teams are now tweaking microwaves out of silicon. In the world of electronics ― where prices drop by a third with every doubling of accumulated sales ― any ubiquitous product will soon be cheap. The law of the telecosm dictates that the higher the frequency, the shorter the wavelength, the wider the bandwidth, the smaller the antenna, the slimmer the cell and ultimately, the cheaper and better communication. The working of this law will render obsolete the entire idea of scarce spectrum and launch an era of advances in telecommunications comparable to the recent gains in computing. Transforming the computer and phone industries, the converging spirits of Maxwell, Shannon, and Shockley even pose a serious challenge to the current revolutionaries in cellular telephony. Regards, [George Gilder] George Gilder Editor, Gilder's Daily Prophecy This has never returned less than 400% over 4 years [Green money](Something big is happening in America… and almost no one is paying attention. A completely misunderstood asset is transforming our world--and making people rich (Barron’s estimates at least 20,000 people). A multimillionaire has written a fascinating analysis, and [posted it free on his website here…]( Featured Prophecy Stop Sitting on the Sidelines [Kevin Harrington]Hi, I’m Kevin Harrington. As I mentioned to you yesterday, you may know me as the original shark from the hit TV show, Shark Tank. But today I have a question for you… Do you believe that next-level success comes from procrastinating the big moves until the “right moment”? If you said yes, you’re not alone. But you’ve been dangerously misinformed. It is true that timing can seem like your biggest obstacle. When you have a dream, every single day brings easy excuses and convenient road blocks. They can’t take the next step because they: - Don’t have enough time - Don’t have enough connections - Are too tired - Are too distracted - Are too scared. Most people yield to these thoughts all their lives. But as you might have guessed, this attitude does not work. Ever. It’s like saying that when all the lights turn green, I will leave my house and drive to work. Huh? Not only do the conditions never become perfect for action, but you know what? Most people wouldn’t act even if they were. Most people have become so used to not committing to things that when the time comes for them to act, they just don’t do anything. How Long Will You Wait on Success? Who do you think sees greater returns? The person who waits for the all clear or the person who clears the way? After witnessing many successful people and many of those who struggle, I can tell you that the people who are successful are the ones who commit to things that take them forward, even when they aren’t sure exactly how it will all come together. I’m not saying be reckless, I’m just saying that there’s never a right time. You will always have challenges going on with your time, your money or your focus. They’re just part of the process. If something comes along that you know you should do, then do it, and figure it out along the way. Did you know that at one time, Elon Musk — multi-billionaire tech mogul/real-life Tony Stark — was in massive debt and at risk of losing everything? He had an ambitious dream to launch a rocket more efficiently than NASA. But the path wasn’t lit for him. And he did stumble. But even in his darkest hours, he kept moving forward. He committed himself to the outcome. And in the end, he figured it all out, because he had to. Currently, he’s building electric cars at Tesla, distributing solar panels, and launching reusable rockets at SpaceX. He acts first, then he figures it out because he must. You don’t have to be an Elon to start making the big moves you dream about. But making those big moves could make you an Elon — a major person of influence in your area of business. It’s easy to second-guess. It’s safer to be stagnant. But if you’re not moving forward, you’re losing ground. If you’re not growing, you’re dying Trust yourself — you have greater skills than you think to manage obstacles. The only person with the power to keep you a wannabe — or to break out and start growing — is yourself. This book is exciting for lots of reasons – 177 to be exact. [Side Hustle Bible](On page 221, you’ll learn how to create an online course — and have a shot at earning $23,500 in 45 minutes. On page 197, I’ll show you how to potentially make $2,000 a weekend, from anywhere in the world. And on page 161, you’ll find 10 businesses you can start from home today! That is just some of the reasons! [Click here to see how you can claim yours]( Ready, Fire, Aim! I wish the universe worked differently. I wish that you could plan to do things and then magically make time and money to do them. It would feel a lot safer. But unfortunately, I don’t see that happening for anyone I know. The people I know over-commit themselves then figure it all out as it unfolds. Resources show up after resourcefulness: The more resourceful you are, the more resources you will have. That’s true, but here’s the secret that few people share: Resourcefulness shows up after you make a commitment. Prior to committing to something, half of your resourcefulness is working on overtime on why this is not a good idea. Without a commitment, humans use up too much brain energy on assessing the idea, the timing and trying to predict an unpredictable future. When you finally commit to an outcome, you’ve freed up gallons of energy to become more resourceful in following through. Commit to a big goal (I mean literally sign yourself up to some sort of deadline or external commitment) and then start filling in the blanks. The Ideal Time Doesn’t Exist, But Right Now Does Becoming a Key Person of Influence doesn’t happen for most people because they are waiting for “the ideal time.” They think that “one day” they will have the time, money and focus to get something done. So they keep working towards making enough money or earning enough vacation days rather than going for what they want. I’ll ask them, “Why are you working so hard?” They reply, “So I can get some spare time and money to go and do what I want.” No, no, no, no! Don’t work to make money for the ideal time, work for the result. Ask yourself what it is you actually want to do. Then go and do it. There is no ideal time. It never comes. When you wake up tomorrow the excuses will begin again. I promise. But if you’re truly intrigued at the thought of becoming a key influencer, if you’re ready to trade comfort for achievement, whether your dreams have been lying stagnant for months, years, or decades, be honest with yourself: The time will never be right. So what are you waiting for? As I mentioned yesterday, I’ve teamed up with the folks at Agora Financial on a new project that will reveal all my favorite private-company investing ideas. I’ll show you how to jump the line, get in on these deals right from the comfort of your home and potentially book life-changing profits, fast. On Tuesday, Oct. 1, right at 1:00 p.m. Eastern, I’m going live with details on my favorite private company. I’ll show you how to buy a stake in this company with $50, right from home, with no paperwork to fill out and no hassles. You can literally buy in to this deal in two minutes. I’ll send an email with everything you need to know on Tuesday. So you won’t miss a thing. Best, Kevin Harrington BOMBSHELL: Pelosi’s “Secret” Income Revealed… [Nancy Pelosi]( When this [shocking presentation]( hits mainstream America… I wouldn’t be surprised if taxpayers riot in the streets… While hardworking Americans have struggled to get by on Social Security’s crumbs… Liberal hypocrite Nancy Pelosi has been cashing in on a lucrative [“secret” income source….]( The liberal media hasn’t told you about it… But the details are absolutely outrageous! [Click here now to see it for yourself.]( Editor's Note: See George Gilder speak at The Money Show in Dallas October 13! [Click here to sign up.]( [Gilder Press] To end your Gilder's Daily Prophecy e-mail subscription and associated external offers sent from Gilder's Daily Prophecy, [click here to unsubscribe](. If you are having trouble receiving your Gilder's Daily Prophecy subscription, you can ensure its arrival in your mailbox by [whitelisting Gilder's Daily Prophecy.]( Gilder's Daily Prophecy is committed to protecting and respecting your privacy. Please read [our Privacy Statement.]( Gilder Press, a division of Laissez Faire Books, LLC. 808 Saint Paul Street, Baltimore MD 21202. Nothing in this e-mail should be considered personalized financial advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized financial advice. We expressly forbid our writers from having a financial interest in any security recommended to our readers. All of our employees and agents must wait 24 hours after online publication or 72 hours after the mailing of a printed-only publication prior to following an initial recommendation. Any investments recommended in this letter should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company. © 2019 Gilder Press, a division of Laissez Faire Books, LLC. All Rights Reserved. Protected by copyright laws of the United States and international treaties. This newsletter may only be used pursuant to the subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), in whole or in part, is strictly prohibited without the express written permission of Gilder Press, a division of Laissez Faire Books, LLC.