Essential Truths Learned by Peter Huber

In remembrance of his life… [Gilder's Daily Prophecy] January 19, 2021 [UNSUBSCRIBE]( | [ARCHIVES]( [Incoming message from Fellow Three Founders Editor James Altucher]( James just recorded [this short briefing]( for you. It’s pretty urgent. [Click here now]( or on the play button to view it… [(The contents of this video may shock you)]( [Video]( [Warning] Do you enjoy receiving Gilder's Daily Prophecy? Please [Click Here Now]( so we know to continue sending you Gilder's Daily Prophecy for free! Essential Truths Learned by Peter Huber [George Gilder]Dear Daily Prophecy Reader, Through the 1990s, I wrote books and articles expounding my view of the Telecosm, the electromagnetic spectrum in all its guises. My leading guide was the luminous Peter Huber, a genius so brilliant that his death earlier this month in Hanover, N.H., has perceptibly dimmed the world. Polymathic in his reach and vision, his career sums up all the science and technology of the age — from energy to biotech to information theory. Holding B.S., M.S., and PhD degrees in mechanical engineering at MIT, he became a professor by age 23. While teaching at MIT, he graduated first in his class at Harvard Law School. From his excoriating case against the “junk science” and green goo that surrounds us, now to his defense of ascendant technology from believers in Orwellian “telescreens,” to his anticipation of the internet and information theory and its revitalization of biology, his books remain righteously relevant today. His book The Cure in the Code applies his basic insights in information theory to biology and explains the biotech revolution with unique power and vision. His core insight is epitomized by The Bottomless Well, written with his scintillating collaborator Mark Mills, which began as a critique of the notion of “peak oil” and ended making the case for the inexhaustibility of all physical resources. I learned so much from him… [Could a strange code like this save your retirement?]( Trump’s Secret Tech Revolution ($15.1 trillion at stake) [Trump cartoon]( if President Trump recently did something that could see him become a HERO in Silicon Valley? According to the man dubbed “The Tech Prophet” by Forbes, it’s true. A single Federal Ruling in the final year of Trump’s presidency could be about to unleash a tech revolution worth an estimated $15.1 trillion. In the words of one tech insider – a CEO who works closely with Microsoft, Intel and Google – it “will rewrite the rules of what is possible.” And it could create countless ways for you to grow your wealth. [Full story here.]( [Visionary George Gilder Sees Good News Ahead...]( Inspiration and Free Economies The pivotal moment in my career was my discovery of the centrality of the silicon chip. It was Huber who alerted me to it and pointed out that fiber optics is merely its extension to telecom. His model of abundances and scarcities led me to meet Carver Mead and his followers at Caltech and in Silicon Valley. My paradigms of “sand and glass and air” all feed on Peter’s fundamental insights, expressed in his monthly newsletter — the Digital Power Report — that he wrote with Mills for my company in the 1990s. As a prophet of what ultimately became the internet, Peter in the early 1980s expounded the theory of the “geodesic network” — a global mesh without a centralized core that would overthrow the PSTN, the public switched telephone network. The prevailing geodesic network, he was among the first to predict in the early 1990s, would be the internet. As Huber was the first to explain, the pyramidal structure of the PSTN made sense only as long as switches were expensive and wires were cheap. When switches became far cheaper than wires a horizontal ring — which he defined as “geodesic” — became optimal. As Huber understood, abundances and scarcities play out in a spiral of reciprocity, with each producing its opposite in the cycles of economic advance. Thus, the information abundance produced by the computer and internet eras rendered telephony’s wireline links, once adequately abundant for voice, inadequate or scarce for voluminous streaming video and other “big data.” In free economies, abundance always prevails when human minds are unleashed. Wireline scarcity led to a series of inventions, enabling movement up spectrum into the vast domains of infrared light. That breakthrough fueled fiber optic bandwidth abundance. When fiber optics made long distance communications fantastically abundant, scarcity migrated to wireless last mile links to mobile human beings. Qualcomm was there to provide new mobile digital bandwidth abundance. Why do free economies prevail? They carefully conserve and cultivate late economist Julian Simon’s “ultimate resource,” always scarce and precious: creative human minds. Peter Huber summed up this vision in all his works. Today’s Prophecy The great delusion of Silicon Valley today is to bet on artificial intelligence and machine learning as replacing human minds, rather than merely aiding and enhancing them. For most of human history, most people have believed that scarcity will ultimately prevail over abundance. Whatever set of materials is essential to production — land, food, energy, bandwidth, or a polymorphically scarce element termed “the environment” — will ultimately meet diminishing returns and run out. Still dominant in government and in our universities, this paradigm can now be tested. Peter Huber understood the essential truth of time-prices that reduce all economic activity to hours and minutes of work needed to buy the commodities that sustain our lives and civilization. Calculated with nominal GDP or nominal commodity prices divided by nominal wages, this theory measures all activity neutrally across time and space. As expounded by Gale Pooley and Marian Tupy, time-prices show that for the last 40 years nearly all commodities, from energy to fish to iron to travel, have been growing massively cheaper. That means more abundant in relation to the governing scarcity of economics, which is time. Underlying this paradigm is the understanding that natural resources are essentially unlimited, Huber’s “bottomless well” — the universe’s infinitely abundant supply of atoms and molecules. What is scarce is the time and human ingenuity, minds, and minutes — needed to combine them into useful forms and products, goods, and services. Investors should place their bets not on power but on knowledge, not on materials but on human minds. The decisive scarcities are not infinite and eternal atoms but scarce and precious minds and minutes. This insight is the deepest legacy of Peter Huber’s incandescent life. Regards, [George Gilder] George Gilder Editor, Gilder's Daily Prophecy Copy of Official Approval Enclosed (tech) [Stamp]( July 2020, the U.S. Government finally approved a tech project that has the potential to disrupt a $2 trillion industry. Ever since the Official Approval was signed... one financial analyst has been [gathering critical data on the project.]( And based on all the information, he’s making his boldest prediction yet. What you’ll see [when you click here]( every shred of evidence that convinced us of what lies ahead. Industries being disrupted, companies going bankrupt.... New opportunities that could turn small nest eggs into massive fortunes... We’ve even enclosed a copy of the official approval that kick-started this massive project. [Click here now to see it while you can.]( [Three founders Publishing]( To end your Gilder's Daily Prophecy e-mail subscription and associated external offers sent from Gilder's Daily Prophecy, feel free to [click here](. 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.]( For any further comments or concerns please email us at GildersDailyProphecy@threefounderspublishing.com. Three Founders Publishing, 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. © 2021 Three Founders Publishing, 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 Three Founders Publishing, LLC. EMAIL REFERENCE ID: 401GDPED01