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Essential Truths Learned by Peter Huber [Gilder's Daily Prophecy] January 23, 2021 [UNSUBSCRIBE]( | [ARCHIVES]( External Advertisement Announcing: [Alex Green's #1 Microcap Stock]( [Alex Green]( stock is growing faster than Apple when it released the iPhone... And faster than Netflix before its stock rose 10,000%. Yet it trades for only $4 a share. [Click here to get all the details.]( [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… [The Internet as we know it is about to change forever…]( 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. Warning: Financial Extinction Event Imminent [Sad man]( April 14th, 2021, a seismic event is expected to send our financial system into a devastating tailspin. At this point, there’s nothing the Federal Reserve, the government or even the President can do to stop it… If you’re not prepared for what’s coming, you should do so now. [Click here to see how some extremely powerful strategies could mean protecting yourself from the carnage that’s coming…]( 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. [If You Use Online Banking, Read This...]( 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 World’s Second-Richest Man’s Latest Bombshell [Bomb]( first BOMBSHELL shook the retail industry and completely turned it upside down. And now the man is targeting another $2 trillion industry with his latest BOMBSHELL It could bankrupt household name companies. It could disrupt established industries... It could make folks like you a fortune. The fuse has already been lit... and on Jan. 29th I believe he’ll reveal a few more details If you missed out on taking advantage of the Amazon success story... don’t miss out again. 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