10x vs 2x Thinking: The Mindset Shift for Massive Success

The one thing that I have really focused on for a long time is the mindset of 10 times. And so I believe, for a number of reasons, 10 times is a very useful thought today simply because of the capabilities that are in the world around us. And Peter gave a very, very good background to why it's so possible now for us to think in terms of 10 times. And it's because of all the exponential capabilities that are now being created in the world around us. So this wasn't true. I was born in 44. So I was. I just celebrated my 70th birthday in May. And I have to tell you, I mean, Richard. Richard and I have conversations because Richard is, you know, checked around for six years, and then he said it was okay for me to be born six years. Ten years. Ten years. And we talk a lot about it. But the things that you are doing in today's world simply weren't possible for someone of your intelligence and creativity in the 1950s. I have to tell you, this was not possible. You could not be enabled and empowered by the system that you were living in in the 1950s like you can today. So this. I'm in complete agreement with the notion that this is a very extraordinary period to be born in. And I'm going to talk about the title here of 10 times is easier than two times. And I'm going to give you a comparison of two mindsets, because somebody look at that. Well, it's just five times two times. And I'm going to show you a difference. That two times is actually bad for your brain. You should not be thinking in terms of two times. It actually does something bad for your brain. And I'm going to show you what 10 times does. 10 times is actually very, very good for your brain. And I was just estimating here just what probably the revenues were for this room here. We got like 220 people, I think, that are in the room, and I would estimate it's in the billions. Well, Dina takes care of one of them. So I know it's more than. I know it's more than 1 billion. But what I see is very, very possible that within a period of time, and it would differ for each of you, that let's say the number was 3 billion. The total revenues in the room was 3 billion. That in a short period of time, 30 billion would be very, very possible for this same room. The people who are here in that. And when I show you how this would happen, you'll see that it's actually very reasonable. Actually, it's not only reasonable, but it's actually the only way you would want to think. So my talk has four parts to it. But first of all, before I get into the actual lineup of what I'm going to do, I'm going to talk to you about what is X when you say 10x or 10 times, what is the X? Because what I've discovered working with entrepreneurs, and by the way, tomorrow is 40 years since I started coaching. So tomorrow, And I'm Catholic, and August 15th is the feast of the Assumption. I can guarantee you on that. August 15th I had a lot of assumptions. And then I had my first bankruptcy. And then I had my bankruptcy that I was divorced in the morning and bankrupt in the afternoon. So there was what Jeff Walker would call testing that I did back in those days. But I've personally worked with 6,000 entrepreneurs. And they're ambitious people, they're talented, successful, ambitious people. But what I find is that each of them has a unique take on what the future looks like for them. And each of them has sort of a formula or unique recipe of really what constitutes success for them as a person. Just in their business life, it's their personal life. So I'm just going to give you a list of the sort of things that people, when they talk about increasing by 10 times, these are the things that they would want to increase. And the number one is confidence. Okay? And you know, I'm a great believer that confidence is a capability. And that confidence as a capability can be increased 10 times. And if you increase your confidence by 10 times, the results are just a byproduct of 10 times higher confidence. Where you are today is really a function of your current confidence level and therefore you could increase it. But then there's things like revenues and profits and wealth. And one of my big one is free time. Okay? So just to give you a little tip, Babs, would you stand up because Babs. This is Babs. Bab Smith. And as Joe mentioned this morning, without Babs, I'm just a smart drunk. An out of shape smart drunk who is worried about the rent. So that's where I am today. So my life consists of before Babs and after Babs. And I'm really quite clear, I tell her that in the morning and I tell her before I go to bed at night. And I'm very, very conscious of what Babs did to my life. So free time and then health and then fitness and your overall energy level, these are all 10 times goals. So it's not just one thing you know, typically your mind would go to income or it would go to profits, but in fact, that all of these are factors that contribute to 10 times. And the people who do 10 times and do it. Well, what I mean is they do it in a way that's absolutely good for other people, but they absolutely do it good for themselves. Actually cover the. You know, they cover the menu here and then reputation and capabilities and clients and your customers and the kind of support you have, technology and connections. So as you're thinking about this, you would have three or four that you would go after right away, you know, and it wouldn't be necessarily. Some people. It's not about income. You know, I have. I just. A few days ago, I was with a client who's from Ojai, and he came down to see an intro that we did in. That we did in Marina del Rey. And he had come into the program about 10 years ago, 13 years ago, and he was making a quarter million dollars personally, and then he was working 300 days to get his quarter million. And then we started our new 10 times program three years ago. And I asked him, you know, how have you done? And his income had gone to 2.5 million personally. So he was up 10 times, but he was doing it in 30 days a year. So he had done a double. 10 times. He had done 10 times with income, but he had done, you know, he was working. And so it was actually 100 times increase. And he's a big art collector and he likes doing all sorts of things, but he's got it down to 30 days, 30 days a year. And now he's going for 10 times the top number, the income number. But he wants to get his whole work, the actual work that he has to do is down to roughly about 10, 10 full days a year. Okay, okay. Now you say, well, I wouldn't want to do that. And that's exactly the point. You wouldn't, because that wouldn't be your goals, but those are his goals. And so when we talk about this, what I want you to think about here is that it has to be your goals, so you know that 10 times has to work for you. Okay? And that's really the point here. And everybody's unique and you've got the freedom. You know, entrepreneurs are the only people on the planet who actually have the freedom, freedom of time, the freedom of money, the freedom of relationship, and the freedom of purpose. Four freedoms that you have that other people don't have. Time. You can arrange your time the way you want. There's no upper limit on the amount of money that you can make. You can choose to work with who you want to work with, both inside your company and outside your company relationship. But the big thing is purpose. So Dave Kekich, you know, and I've been communicating with Dave for a number of years, but today is actually the first time I actually met him. But we were talking and I was talking to Craig Venter, who's Peter's partner in longevity, and we were talking about the life extension, which I believe my goal is 156 right now and has been for 20, 27 years. So at 70, I'm not even actuarially on the table yet. You know, I haven't even qualified for the actuarial table because I still have 86 years to go. And but I said, you know, you can extend physically, you can extend people's lives, but the question is, do they have any purpose? Do they actually have any purpose? Because a lot of people really don't once they finish their work life, they really, really don't have much purpose. So that's going to be the big issue. I think once the purpose drives people will, you know, they'll do it. And 10 times is a nice purpose to have. And so my goal, I'm 70 and I'm going for 95. So I just put together a 25 year goal and everybody in my that I coach is on the 25 year plan. And my goal is that in the next 25 years, I accomplish 10 times more than I accomplished up till 70. Okay, so whatever that was, I accomplished a lot before 70, but it's going to be 10 times more. Okay, So I just wanted you to be clear about that. Now as far as what I'm going to talk about, I'm going to talk about the mindset. So the mindset has really been talked about a lot here. It starts with just how your brain's looking at your life, looking at the world, looking at the possibilities. Then I'm going to give you a model that shows you the radical difference between 2x and 10x. And I'm going to show you a method that everybody in this room can do. You can start doing the method that I'm talking about here. You can do that method starting right now. As a matter of fact, you could put together a very good game plan by the time I'm finished here. And then I'm going to give you a map of what the world looks like and what's happening to the world is that it's going to binary. And what I mean is that the world always takes on the structure of the economics of the world. So when the world was industrial, the world looked like a factory. Okay. You know, the world wars. I was born during the Second World War. And after the Second World War, for the next 25 or 30 years, America looked like a factory that was producing war materials. It was big, it was multi level, it was a big pyramid. GM had 18 levels from the CEO down to the factory floor. And everybody thought that was great. The unions were that way, government was that way. But now we're going digital and we're going network. And now the world is rearranging itself along network lines. So it's very, very different. And I'm going to show you basically that there's an emotion you have to have to actually get on one side or the other side of the binary. There's sort of a split going down the middle of the world. You can see it reflected in the news. Every day they talk about the polarization of society. I'm going to show you what the real polarization of society is. And I can say right now that all of you in this room are on the right side as opposed to the left side. No, but the thing about it is that there's a way of thinking about the world. And it starts with the mindset, but it's actually an emotion. And your basic path that you're going to create for yourself in the years ahead comes from a particular emotion and there's a counter emotion. And I'm going to show you what that is. Okay, so let's just talk about the model and the mindset. First of all, first of all, I'm going to show you what 2x looks like. And we've got three tools that the brain has that I consider to be tools. And we have a tool called the future, we have a tool called the past, and we have a tool called the present. And these are tools and these are learned because children, newborn children, do not have a time sense. They learn. It takes about two years and the development of language before children begin to realize that there's a difference between what happens before they go to sleep and what happens after they get up in the morning. They call them dark sleeps. So a lot of kids come up with dark sleeps as nighttime. And short sleeps are naps. But they start to distinguish that there was a before I went to bed last night. And there's something happens and the brain starts to develop. It's like three dimensions. Children do not see three dimensions. Takes quite a while before children get a handle on three dimensionality. It's in the structure of the brain, but it has to be learned. And everybody learns past, present and future completely differently. I've never found two people in all my coaching who look at past, present and future in the same way. And. And the reason is they're made up. They're made up.

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People make up the future and they make up the past. Okay? People are just as, just as creatively fictional about their past as they are about their future. And so one of the things is, it's your property. These three tools are your property. And the past, present, future are your property. And you do anything with them that you can get away with. Okay? So here's the way 2x works, and I've seen this over and over again, that if you do 2x, you start with the present, you start where you are right now, and you got a 2x goal. But you don't go to the future. You actually go to the past. You actually go to the past. And the reason is because we're smart rats. Humans are smart rats and they don't like working. And so they say, I'm going to do 2x and I wonder if I can pull it off without changing anything. So they go back and they do an inventory of the past, of all the things that they don't want to change to get to 2x. And how many of you, if you rearranged a few things, you could probably go 2x, how many of you? And they would be known. You would know right now how you could go to 2x. Would you know, you could double, you would probably know the means would be there. It's a tightening up on the systems a little smarter, a little better time management, you would know how to get to 2x. And so it's not very exciting. 2x is how many of you 2x really isn't that exciting. It's just not that exciting. And therein lies the issue. 2x is not exciting. It's not exciting for you. And if you tell somebody about it, it's not exciting to them. So there's no new energy in the system. So what happens then is that you actually start in the present and you circle back and you try to pull as much of the past as you possibly can into the future. And the past negotiates with you about your future. How many of you have noticed that the past is union organized? And not only are they unionized, but they drink. They're drinking partners. All the paths. Oh, no, no, we're not going to do that. That. No, have a drink, you know, and everything else. And that's one of the biggest things I've noticed is just this negotiating with the past, that most people, when they come up with a goal, they have to go back and first justify it to their past. They have to justify it to their past. Okay, and that you can see the drag immediately on this goal. Now I'm going to show you the other one. So this is the other one. So with 2x, you start with the present. Trying to change as little of the past as little possible. Not exciting. It doesn't cause any inspiration, doesn't cause any electricity. Okay. It doesn't cause any real movement that's going to get a lot of people interested in what you're doing. That's why, I mean, when, you know, I sit there and let's see, Peter, what's he going to do? First of all, he's going to take a billion people and make them literate in 18 months. And then he's going to capture name, put his name on it. Asteroid dimandas. It's worth 5 trillion, right? I got that one. You know, and then you go down the list. These are big. How many of you are excited just sitting there? You know, just sitting there listening to it. That's the secret of it. It's the excitement. If there's no excitement, there's no electricity. If there's no electricity, there's no movement. You have to have the excitement. So the big thing is that you gotta go 10 times or nothing moves. You gotta go 10 times. So with the 10 times, it works just the opposite. You don't start with the present. You actually start with the future. And with the future, you come back and you grab the present, you come back and you loop the present like that and you leave the past in another category. I'm going to tell you why the past is valuable. Because a lot of people say the past is not valuable. I don't think about the past. A lot of entrepreneurs say, I never think about the past. And I said, well, that's too bad, because there's a lot of useful stuff in the past that would be useful for the future. And so don't knock the past. I'm not knocking the past here. I'm not saying bad things about it. I'm simply saying that you gotta start with the future as the lead. And here's the deal. The past has to justify itself to the future. The past has to justify itself. The only reason why any of your past gets to come along is because it has a value for the future. So I've got 70 years with the past, and I've got a lot of valuable stuff back there. I've got a lot of stuff there, and I'm constantly going back to past experience and saying, what did I learn there that's really valuable? Okay, so here's how it works. With 10 times, you start with the future, freeing your present as much as necessary from the past. You got to free it up, okay? And that requires some shifts. That requires, you know, that's why Daniel, a lot of the stuff he does, you got to have a brain that can do this. Because a lot of the brain, if it's a damaged brain, it's responding to damage that happened in the past, okay, that's a map of your past. When he gets a bad brain scan, it's a map of the past. I was knocked out twice in a football game when I was 18 years old, and the damage was still sitting there on my brain. You could see the dark section on my brain in those days. They said, you okay? Yeah. Okay, get back in there. You get back in there. Yeah, yeah, it was good. I got knocked out. I sat on the bench for about five minutes and got back in. First play, I got knocked out again. Guy said, why don't you sit this one out? The coach said, why don't you sit it out? But I was back on the field next week because that's what men do. I was a man. Ok? So that's the model. Okay? So that's the model, and so that's the mindset. So here's the model. So I'm going to put the two of them together, and the two of them are side by side. And you can see the radical difference just visually, okay? And this is what it looks like in the two times you're trying to pull the past into the future. And in the ten times the present is being pulled into the future and the past, large parts of the past being how many of you this actually, when you're doing things well, this is what you do. And when you get really bogged down. You're doing the left hand side. Yeah, that's what happens. See, this happens with all 7 billion people and nobody's 100% with it. So nobody's 100% in any area of their life. Some people are really advanced in one part of their life, but they're not advanced in other parts of their life. There's parts of their life where the future is really doing the work, but in other parts of their life, the past is giving the orders. It creates tremendous tension. All right, now how many of you would say that this is probably harder? This is harder and this is easier. So now I'm going to talk about harder and easier. And all things considered, how many of you prefer easier over harder? Yeah, yeah. And that's really the thing. Now you have the brain that can do this, and you've got the experience that can do this, but you got to get the distinctions right. It's kind of, you got to get the circuitry right on this. And it has to do with what you do with past, present and future. You got to get them. You got to get them right. And generally speaking, if your child, if you're thinking about your children and they've spent 20 years in the educational system and that's usually the case now, 4 years old to 24 years old, if, you know, they have been almost 99% taught by people who would not even believe in two times. They would not even believe that they would believe. I mean, at a much worse thing. I mean, they, you know, they would go for cost of living. You know, cost of living.

Wow.

I mean, that's what union fights are over, cost of living. I mean, that's not very inspirational. Yeah. So it's a union, so you got to have the right teachers. That's why you come to Genius Network. And I just had a wonderful four days in Rancho Mirage with JJ and Camper and their mindshare. Mindshare. I mean, if you said that in the 1950s, I don't know really what that would all be about. But the whole thing of bringing together people who are future oriented and have an impact, I mean, you just being in this room for two days, your brain will change chemically. Your brain will change by being in this room for two days. And Joe is just a master of bringing together people who can provide shifts. They provide, you know, they almost. Sometimes, you know, I'm sitting here and I'm watching a 10 minute talk. I'm going whack. I just get the, you know, I Just get this like. And all of a sudden there's this real shift, and you never go back to the way you were before the shift. So this is the educational system that really, really works. But if you take everybody who does that and has that kind of impact and shift, they do the same thing. They froze you from the past. There's this freeing up and you get this real movement toward the future. And remember, past, present, future, they're yours. You make them up. You got to choose what you want to feed them. You got to be careful what you feed those time sense. Ok, so I'm going to talk about harder and easier. So now I'm going to talk about the method. So I'm going to talk about 10 times easier and 2 times harder. And I'm going to talk about 10 times easier because 10 times easier is based on energy. How many of you would know in any situation whether this was energizing or this was stuff? How many of you know the difference between energy and stuff? Energy and stuff. Okay. Energy makes you feel good and stuff makes you feel bad. Okay, that's good. That's good. So I'm going to put energy and stuff. Here's what energy. First of all, I'll start with stuff. Stuff is activities that are devoid of energy. How many of you right now know that you're doing activities that are devoid of energy? Okay, how many of you could make a list of activities that are devoid of energy? How many of you could make a list of people who are devoid of energy in your life? Situations that are devoid of energy. Activities that your company has gotten involved in. Situations that are devoid of energy. Okay, that's stuff. Okay, everybody got stuff. Okay. Energy is. Activities are free from stuff. Activities are free from stuff. What's it feel like when you're freed up from stuff? Yeah, feels like bulletproof coffee. Last thing I did before I came on stage was make sure you have a bulletproof coffee before you get up on stage. Batting my Adderall. I love adderall. Now, he doesn't recommend. He doesn't recommend, he says, but you might want to try this. You know what I realized when I came back? It took me six weeks to take the first one because I don't know if I want to do this. And I took it and it was just before our workshop and I took it and I walked in and I sat down. I was just. I introduced the group and then I sat down and it was almost like a physical. It was all going bang like that and the whole world went Quiet. And I realized that for 66 years I had lived in a world of noise. And this is the first time my life was quiet. And it's been quiet for four years. And these have been the four best years of my life. So I got the scan. Got the scan. Shitty scan. Yeah, it is better. It is better. I saw him a year later and he was amazed. You were amazed, weren't you, how much it was like a lit up city a year later. It was really good. And I got a lot of confidence out of it too. So energy and stuff. Okay, now think of the world. I mean, think of Washington right now. You know what Washington is? It is an entire organization and ecosystem that's completely devoid of energy. It's just all stuff. It's just all stuff, you know, and there's so many of these large organizations, these large systems that were considered just the normal part of life now that are just stuff. And the reason is they don't have the ability to have a future. They don't have a future. Everything has to be justified on the basis of the past. And you can just see it drains the energy. And you can see what happens to public officials. They come in, they're full of vim and vigor and they're very, very exciting. You just see them, energy goes out of them, they get sucked in. So the big thing here is this is the method that I'm going to talk to you about right now. So we're going to talk about that. The method for going 10 times consists of eliminating stuff. So how many of you would have a hit list right off the bat of stuff that you can do? And so I'm going to just show you in coach because we coach a lot of people and they all come through. But this is sort of the kind of things that people go after. And if you wanted to on your sheet of paper, I know this is on the sheet of paper. You can just write down everything that others do better, everything that drains energy, relationships that go nowhere. And what I'd like you to do with each of those three things, if you see them on the sheet of paper, it's in our little folder on the right hand side down at the bottom. So this is a little strategic coach diagram that we have there. But just write down below each of those words that I have up there, everything that others do better, everything that drains energy, relationships that go nowhere. And just write down a word, a name or a word of something that would be on that list. And I'd like you to have one under each of them, just write that down. For example, everything that others do better. So what I. You know, the real, real impact that I have on entrepreneurs in the program is I get them to do far, far, far less. They come in and they're doing 20 different things. I say, you're not good at 20 different things, okay? You're good at three things. You're good at three things. So I do three things. I do what I'm doing right now. I coach my workshops, and I come up with new ideas, and I come up with new diagrams. And in the course of my work year, 95% of my time is made up of those three activities. I got a circle, okay? And I'm not allowed to go outside that circle by my team, okay? Dan goes out and he goes. You know what I mean? If I step outside of my circle, I mean, if Dan tries to say anything about the company that doesn't relate to giving a public performance or coaching or creating new material, he's out of bounds. He's out of bounds. And Babs enforces it. She enforces it. And I teach everybody to do that because I came from the entertainment industry. And the entertainment industry, you want the entertainer to entertain. You don't want the entertainer so selling tickets, you don't want the entertainer moving furniture backstage. Frank Sinatra does not move pianos. I made a living before he died on that one. He just plays. He just entertains. Every one of you in this room is an entertainer, and you've got a song to sing and an audience to sing to. And anytime you're not singing your song to your audience, it's probably stuff. It's probably stuff. Does that make sense? I mean, I find entertainment's really interesting because it's all about energy. Entertainment, the whole entertainment industry, is just pure energy. If you want to know a model of the future, it's the entertainment industry. And that includes sports. That includes sports. Everything that drains energy. Well, what drains energy? Everybody's got a list, you know, and it's different for everybody, okay? If I'm not front stage or I'm not doing things front stage, it's probably not. It's probably stuff for me. I'm a front stage guy. Okay, how many of you in this room are kind of front stage people using the theater term? Yeah, you shouldn't be. Shouldn't be backstage, okay? I mean, you're backstage to prepare for it, and it's really, really different. And the thing is, you can't be disrespectful about what other people Find energizing because everybody's wired. We have Babson, I have a personal bookkeeper who twice, twice a week she comes in, she handles all of our bills and everything. And had her for 25 years. And from my perspective, she's done exactly the same thing every day, two days a week for 25 years. So I went in one day, her name is Mary Beth. And I said, Mary Beth, do you like this work? And she said, Dan, from one day to the next, you never would know what's going to happen, You see? And I wasn't seeing it. I wasn't seeing it. So we can't make judgments about other people. Everybody's nervous system is constructed differently and what they find stimulating and everything else. Everybody is different. The only thing is you want to get them inside their circle. So we do this with all of our team. We have 120 staff. And every one of them, the moment they start the company, we start this process of getting their circles smaller and smaller and smaller and smaller until there's just three of them. And we've got 65 people who've been with us more than 10 years. Because going to work every day and just being energized is actually a good way to spend your life. We try to keep them away from stuff and then relationships that go nowhere. That would be both business and how many of you right now have relationships that's going nowhere? It's a stuff relationship. It's not going anywhere. Write down the name. All progress starts by telling the truth. Bill W. All progress starts by telling the truth. You have to tell the truth. And the writing hand is connected directly to your brain. 40% of the brain that the hand that you write with is direct. 40% of the brain is connected directly to that hand. Opposable thumb. Human brain takes the opposable thumb really seriously because the opposable thumb basically was one of the big things that created the human brain. Ok, so that's it. Now we're going to go to the other side, increase energy. I start with the stuff because it's annoying and most people can get to it right away now. So here's the energy side of it. Everything that you permanently love, everything that produces growth, and everything that grows confidence. Okay, so I have big thing that I have a question and Dean Jackson here, Dean and I had a great conversation one night. I said, Dean, what is the single activity or focus that would absolutely keep you fascinated and motivated for the rest of your life? Fascinating motivator. And it took him about what 2 minutes. 2 minutes. Wham. Like that. And Dean, big difference since we did that. Amen. Yeah, I got him on Adderall, too. Yeah. So the big thing is there's a something that is just eternally fascinating. How many of you, when you saw a number of the speakers up here, you knew they were in their sweet zone about what fascinates and motivates them. I mean, Peter, you're just. I mean, you're just a role model. You're the poster child for being in the zone of something that just permanently fascinates and motivates you for the rest of your life. Joe is. I mean, Joe. I mean, if it moves, he'll talk to it. I mean, Joe would call Putin if he thought it was a good interview. No, he's a connector. Joe cannot help not connecting. I mean, it's just fascinating and motivating to him. Scans. I mean, it's more than the scans, Daniel. There's something in there that just totally fascinates and motivates you, and you can't get enough of it. And when you're 20, 30, 40 years older, and it'll still fascinate mode. So if you can get the person just locked into that, you can build everything else around it. And it's a series of questions. I had Jeff. I had this wonderful interview with Jeff when he first came into the program about what it was like to do his first launch where he was charging and he got $1,300 back. And he was just sitting there in a state of awe for a couple days, simply because, first of all, it was equal to their disposable income as a couple for that year. And then. But just where are the possibilities? And I think, you know the book. I read the book, and the book reflects that fascination and motivation with that process. Okay? So that's the entre. That's what really prompted you to become an entrepreneur. It was this point of fascination and motivation that is permanent right at the center. But a lot of entrepreneurs get off track, and then they get tied up with the rewards of doing this activity. And then their life gets very, very complicated and they retire and whatever. So there's this whole thing. So do this, okay? So you get this every three months. What we want you to do is eliminate three stuffs, and we want you to increase three energies. Okay? So you have stuff, stuff, stuff. Energy, energy. How many of you? Every three months, you could eliminate three areas of stuff, big, small, medium in your life, and you could increase three areas of energy and go after the small Stuff first, because it gives you a kick of energy. When you eliminate stuff, you get a hit of energy. When you add energy, you get a double hit of energy. So it's really, really great. And then you get those three. And then what we do is this is what it looks like. 36. Over 36 months, you would eliminate 36 areas of stuff and you would increase 36 areas of energy. How many of you. That would probably. I mean, can you imagine yourself if you got rid of 36 things that are stuff and added 36 things of energy? What do you think it would do to you? What do you think you would be like to other people? The ones you hadn't eliminated? But you would have attracted a lot of people in new life. Because I believe all life is based on radio frequencies. You send out a certain energy frequency and other people pick up on it. Okay, so that's that. So. So this is what it looks like. Okay, so I switched it here. So this is the energy going up and the stuff going down. And this is life. You could do this for the rest of your life and every year. And that starts to compound. You know, it isn't like you go, you start to compound. It starts to become exponential. This is where you can actually experience what Peter talks about. Exponential experience is getting rid of the stuff and adding energy. And it takes you right into things that allow you to do things faster, easier, cheaper, all the technologies and everything. This is the proper training, the emotional, psychological training for getting in tune with the technological age. All Uber is, is they got rid of all the stuff and added all the energy. Airbnb, they just get rid of all the stuff and add the energy. Amazon, I mean, they said, Dan. They always. Barnes and Noble. Never called me Dan. Dan. You know, I get so excited and I order. And they said, dan, you already ordered this one. I love that, Dan. How many of you. I love that, Dan. Barnes Noble. Border. Borders. No, Dan, Borders with stuff. They're gone. So. No, no, no. I mean, this. I mean, I just want you to see this on the big level. Okay, so let's go to the big level. It's going to wrap up here. So this is the math. Okay, I'm going to talk to you about scarcity because Peter talks a lot about abundance, but I want to talk about scarcity first. And scarcity starts with an emotion. Okay? Okay. So I got a 15 minute grace period here when I'm. We got an agreement, Joe and I, you know. Okay. Okay. So here's all stuff, all loss of energy in Your life starts with envy. Envy is the emotion that kills energy, okay? Envy, okay? And envy is looking at what someone else has and wanting them not to have it. That's what envy is. And it's the most. It's the energy killer. Any kind of envy and envy. So it's stuff. Envy is about stuff. What are people envious about? They're envious about stuff. You got more stuff than I got. I don't want you to have that, okay? All right? And envy leads to guilt because you got more stuff than other people. So you're guilty. So on the one hand you're envious and on the other hand you're guilty, okay? You're guilty. And so you get caught between these two emotions. These are all energy killers. And then there's blame, because you got to blame somebody. Why? The world is structured such a way that some people have a lot of stuff and other people don't have enough stuff. So now you got three things going. Can you see how this really, really kills energy? And this is how all scarcity, it's a set of emotions that become a system. That's how scarcity, scarcity, there's more than enough for everything to go around. But the energy systems that people, or the devoid stuff systems that people prevent there actually being any abundance. And what that leads to is a sense of massive unfairness. I mean, I went to college, I go back to college reunions. And it's about the unfairness of the world, you know, it's about the unfairness of the world. You know, living in America, you know, talk to the Uber drivers. They're all immigrants. They love this place. Their solution is send all the unhappy Americans somewhere they came from. So unfairness and then depletion, the depletion. The planet is being depleted, okay? There isn't enough to go around. In 1800, we crossed a billion. Now we have 7 billion. Average incomes are up 17 times. Lifespan is up 42 years. You know all the great slides that Peter had this morning, there's just massive amounts. And the reason is because it comes out of human imagination and human. The imagining an infinite future and then having more and more energy in your life. And then the other one is the zero sum. If you have something, that means I don't have it. If this person over here has it, it's only at the cost of something. These are killer thoughts. These are killer thoughts. They destroy energy. They destroy any possibility of creativity. Okay? So I call this the scarcity system. And it's a stuff system. The whole thing's based on stuff. The whole thing's to. All right, now I'm going to. That was quick. I had to get through that quickly. Then I go to the abundance spiral starts with gratitude. Gratitude is the single most powerful energy producing emotion on the planet. Abundance is connected. Gratitude is connected to another word which we use interchangeably, which is called appreciation, which is interesting because it has both a psychological meaning, but it has an economic meaning. So stocks appreciate, land appreciates. So appreciation means growth. And I say that every time you're grateful. You appreciate the value of something, you appreciate the value of that person, but you appreciate who you are because you're grateful. So if you want to know how to enter and continually grow within the world of abundance, you have to be grateful for everything, okay? And you'll never run out of new things to be grateful for. And people can tell that you're grateful. And people love being around people who are grateful and they hate being around people who are envious. Okay? So gratitude leads to his energy and it leads to creativity. Steve Jobs, they said Steve Jobs, what is creativity? He says, it's putting things together. People who put a lot of things together are really creative, Are really creative. You only put things together that you love and you appreciate creativity only. You only put things together that you really like. And creativity leads to cooperation, which is really what capitalism is. FA Hayek said that capitalism is an ever expanding system of increased cooperation among strangers. Big thing there is strangers. So when I was in. And the thing that really gets me about this is the atm, I mean, I, you know, I mean, I grew up in slow times, so ATMs are really, really exciting to me. And we were in Vienna. We were at the soccer hotel, very famous for the soccer tort. And I came down to the concierge and I said, is there an ATM here? Of course he knew what I meant. He says, yes. You come out the front, walk down two blocks till you get to McDonald's across the street. And the ATM is right between Starbucks and the Apple store. I go there, they ask you language, okay? They ask you currency. You put in your card. Millions and millions of strangers cooperating with each other. I get my. And Babs is there. I turn to her and I say, what a world. What world? I love it. I mean, I love it. This is massive cooperation among strangers. Most of the world still, you can only have cooperation among friends and family. Okay, finally, real quick, opportunity. Opportunity. When you get this, you get massive opportunity, which leads to ingenuity, which leads to Peter's favorite Subject exponentials. And this is the energy system. So what you have to do now is that you have to put a barrier, the abundance barrier between these two systems. Okay? And what you have to do is continually surround yourself with people who are energy people, which I call the abundance neighborhood, which goes like this, goes like this. And this is what this is. This is what Joe is putting. He's putting together abundance. This is what Peter does with abundance. 360. We put together an abundance neighborhood. So this is my whole take on how going from the simple thing of getting past, present and future right in your mind and then understanding that the mechanism for growing the future is to actually increase the amount of energy in your life, reduce the amount of stuff, you end up in a neighborhood like this, and it's a good world. Thank you very much.

I want to talk about the six Ds of exponential technology, the 60s exponential framework. So any technology that becomes digitized becomes an information technology. What does that mean? Biology has become an information technology. Biology has become digitized by Google. We now sequence your human genome and you get information on a digital stream. You can go to a number of companies and find out what your genetic normalities or abnormalities would be. But what becomes digitized enters a period of exponential growth. And the early parts of exponential growth are deceptive. It's deceptive. People don't notice that a technology is an exponential growth. I'll explain this in more detail. It then becomes disruptive all of a sudden. When they do notice third D is disruptive, it then causes dematerialization. I'll explain what that means. Demonetization and eventually democratization. So these are the six Ds. And I'll come back to these one at a time and explain what that means. So let's go into deceptive and disruptive. So exponential growth is a simple doubling, right? 1 becomes 2 becomes 4 becomes 8. 1632. And to give you a visual picture of this, I want you to imagine I have a test tube with a colony of algae in it. They're doubling every minute. And in the beginning of this story, it's 11:54am and this test tube has got 1.5% full with algae. Small amount of algae. They barely bump into each other. They don't know each other. They haven't gone around and met each other yet, but they're doubling. They meet other algae and they have a party and they double. A minute later it's 11:55, we have 3% full. A minute later it's 6% full. They still haven't noticed that they're in exponential growth. After all, it's just 6% full. A minute later, it's 12% full, 25% full. Now it is starting to meet people more regularly. It's 50% full. 11:59 at noon. They're panicking. It's 100% full. They're out of resources. Only five minutes later. Thankfully, one of these pioneering algae said, oh, my God, look out there in the universe. I saw three other test tubes totally empty. And they go, we're saved, we're saved. And so the algae organized, and they say, okay, 25% of you go to that test tube, 25% go to this test tube, this test tube, and 25% here, stay here. But what they don't realize is that they're in exponential growth. And that savior really doesn't mean much, because a minute later they're 50%, and two minutes later, they're dead. So the early stages of exponential growth are very deceptive. We don't notice it. Kodak didn't notice the digital camera increasing in megapixels, becoming easier. Other technologies organizing around it, like digital printers and higher memory density. And then by the time that Kodak noticed the digital camera was becoming the new standard, it was too late. So my question is, are you noticing other technologies out there that are in exponential growth that you can be hopping on early? The next D of exponentials is dematerialization. What do I mean by dematerialization? There are lots of things we used to own that we don't own as things anymore. We own them as apps. My favorite image, 20 years later, all of these things fit in your pocket and come free on your smartphone. I don't have a GPS anymore on my car shelf, it's a GPS on my Android phone. I don't have libraries of books or music. It's on my phone. I don't have an HD video camera or an HD still camera. It's on my phone. All these physical things are dematerializing as they become digitized. So if you're in the thing business, you have to be wondering which of your things that you sell could be dematerialized. Or if you're an entrepreneur, you may be looking at, how do I dematerialize that thing? So Airbnb is dematerializing hotels. If you wanted to be in the hotel business before, what would you have to do? You'd have to buy real estate. You'd have to get a hotel designer, you'd have to invest Tens if not hundreds of millions of dollars. And I guarantee you the hotel industry never thought that two guys in a garage could give them competition. But they are, aren't they? You've got companies dematerializing rental car industries. So when you start thinking about industries, what industries could you dematerialize? Not just physical things, but industries. So I'm studying this process, interviewing the companies and the people who've dematerialized and what did they think, how did they do it, where are they going? Make sense? You with me still? Next one is demonetization. What do you mean by demonetization? Well, Craigslist demonetized the classifieds. It took the money out of the newspapers and put it into the consumers pockets. Skype demonetized long distance itunes, the record store, Google research libraries, ebay, the local store, Amazon bookstores, it demonetized. So a lot of industries are becoming demonetized and scaring the shit out of a lot of companies. And so is your business going to become demonetized where the money, where it literally becomes free freeware. And then how does it change your business model or how can you demonetize an industry and take a small amount of that business, give 99% back to the consumer and take the 1%? And when these things become dematerialized and demonetized, they're literally freeware on the Internet. They become democratized, they go everywhere, right? The Masai warrior in the middle of Africa on a smartphone has got democratization of an HD video camera, still camera, radios, books, all these things free on their smartphone. And this stuff has become democratized around the world. So those 60s make sense. Powerful forces over these next now, right now, these next two, five, ten years are going to change the face of every industry because we're in rapid exponential growth for a whole series of technologies. And let me just talk about this. I've been researching and spending time with the CEOs at the top in these exponential technologies. I can't talk about many of them given the time. I'm going to just pick two robotics and 3D printing. And I'm not going to teach these. I'm just going to give you an overview of what's going on. But you need to understand where these technologies are going and, and how do you use them. So robotics. This is a friend, Scott Hasson, who was one of the earliest Google shareholders and has been building a series of robots. This is the PR2. And the PR2 is a precursor to the robots that will be in your homes. What happens when labor forces change. So which businesses are labor intensive today that are going to transform when labor becomes effectively free? Because these robots are going to enter every aspect of our lives. This is cruelty to robots. But I have an emotional reaction when I see this. I don't know if you do as well, but robots are going to enter every aspect of our world because they don't have fights on Friday night, they don't come in late, they don't have sick, you don't have unions. They're going to transform every business. This is another robot. This is the Google autonomous car. Those of you who join me on the next adventure trip that we're doing, we're going to be focusing on robotics and 3D printing and going and riding in this Google autonomous car up in San Jose. This is what the car is doing. It's a robot. It's fully autonomous. This is it driving down University Boulevard. It's driven now over half a million miles. It's been in two accidents only twice when it's been driven by humans. Guarantee you now illegal in a number of states. You see that thing on the roof that's spinning around? That thing on the roof that's spinning around, that's in the image over here is called a lidar. It's laser imaging radar. It's got 64 lasers at 10 RPM. It's generating 750 megabytes of data per second. So you can see what the computer is seeing. It's seeing everything. 750 megabytes of data per second. It's seeing a person open a door. It's seeing a butterfly come along. It's seeing a person drop a piece of trash. It's seeing some guy being pickpocketed. It's seeing everything. Now I want you to imagine tens of millions of these cars on the road in the future. What kind of business opportunities is that going to create? Because you're now going to be able to have a record backwards in time of every single thing that occurred in the open public. Do you get what the power of that is in terms of information and information mining? But it doesn't stop there. That's just one example. Because in the future you're going to be able to know anything you want, anytime you want. So Eric and I are in the space business. This is an example. There are a number of low Earth orbit constellations that are being launched in the next year. And so there will be a number of these commercial constellations giving imaging at half a meter resolution. And you'll be Able to look in any parking lot anywhere in the world and find out exactly at that moment how many cars are in that parking lot of your competition, or how many trucks are carrying supplies down from one mining location down to another. What do you want to know about your competition? You can know it. Powerful thinking. Right now it's a matter of thinking, what information do I want to know? Because it doesn't stop there. There's going to be an army of AI drones giving you literally centimeter resolution, flying over every city and every parking lot. You guys played with this stuff yet? Amazing. So these drones, forget about this. The satellite constellations, those are going to be displaced by these drone populations flying at 10,000ft or 1,000ft over your home, whatever the case might be, taking lots of these imaging, and that isn't even anything yet. Because now think about this. As you've got millions of people walking on Google Glass on record taking information, you're going to have knowledge of everything going on everywhere. How has that changed your business models? What kind of business opportunities does that create? I mean, I'm talking about, you know, quarter million dollars, we're talking about quarter, you know, billion dollars, talking multi billion dollar opportunities. If you could figure out what information this stuff is coming down the pike. It is happening. It's not a matter of if, it's when. So how are you going to use this and take advantage of this stuff, other technology to mention 3D printing? And again, I'm just giving you a quick overview. I'm not teaching this stuff. My intention is to teach this and the implications and how you use it and where it's going and what it can go and do for you. But I want to give you an overview of this technology. 3D printing is the Star Trek Replicator. It's the closest thing. I've just joined the board, my first public board, a company called 3D Systems. They're a 5 billion dollar 3D printing company, the best in the world. I want to learn about this. So I'm doing a deep dive in this industry. The manufacturing industry around the world is $10 trillion, $10 trillion. And it's about to become disrupted. There's $10 trillion of opportunity boom on the table by 3D printing. So 3D printing is the ability to print things at a layer, at a time, where you take any object you want digitally and again, everything is becoming digitized and you can print it out. So this is a polygon within a polygon within a Polygon that's been 3D print. These are High temperature titanium turbine blades that were 3D printed. GE is now 3D printing their injectors for their jet engines because they can't actually physically manufacture it. In the old manufacturing process. You see, 3D printing is additive manufacturing. It used to be that it was subtractive. You take a block of aluminum and you cut away everything you didn't want to. What was left was the piece. Now you do just the opposite. You just add atoms where you want them effectively and 3D print the structure. And it turns out there are many things you couldn't subtractively manufacture that you can addively manufacture. This is the future of 3D printing homes. Here's 1000 home designs you want. Which one you want. Print. Boom. And you print a 3D home. This is a person who lost his right lower limb, scanned his left limb, flipped the image and 3D printed a composite prosthetic. This is a full scale 3D printed motorcycle in the lobby of Autodesk. And one of the industries that's becoming just fun because it's a mom and pop industry is the whole jewelry industry. This is the gearing that you print. And what's interesting is when it's printed, it works the first time. All the parts. It's manufactured as a workable 3D moving geared ring in one shot. Perfect to your size. Whatever engraved on it you want. Let me show you a few other things. We're now beginning to 3D print foods. This is a joint venture with Hershey's and 3D systems. Imagine if you would being able to 3D print your foods at home. But what you're adding and 3D printing into the foods is exactly the proteins and vitamins and things that you want. So your foods are being manufactured in your home for you. I need some more calcium in my diet. Great. I'm going to up that in the 3D printing. I love these examples. For the women in the room, imagine being able to 3D print your shoes. You don't like the shoes you want, you really recycle them and you 3D print a new design or you're going out at night and you3D print a dress that evening. This is on the right. This is an entrepreneur, Alison Taylor, who knew nothing about 3d printing and wanted to go after the doll industry. And she started. I'm going to teach. How did she do this? How do you start an industry or a business in the 3D printing world? So she learned online and I'm going to show you how you do that. And she created a company that's 3D printing custom made dolls. It's a $3.5 billion marketplace that she's going after to disrupt. And right now everything's made in China and is mass manufactured. This is about customized production. You can go large scale. This is a company called Invisalign that is manufacturing 17 million unique items per year. Every single Invisiligner. It's replacing the metal braces. 65,000 items per day so you can mass produce. This is built with 54 3D printers. They're doing 17 million items in a San Francisco warehouse. That's dark. It's running robotically, seven by 24. So what I give keynotes to manufacturing companies that are old style manufacturing companies, companies. They are deers in the headlights of this technology. Again, $10 trillion up for grabs in 3D printing. Make sense? I mean, I just want to show you a little bit of what's coming down the pike. Because what 3D printing is going to allow is every one of us to become designers and manufacturers. You know, I need a device that can do this. And you're talking to your AI and say, can you make it a little bit rounder and stretch it out here? And oh yeah, that's perfect print. That's what it's going to be like. And then you're going to upload your design to the cloud and say charge 50 cents for it. Anybody else wants to print it? Your kids are not going to be patient enough to buy on Amazon and wait 24 hours for a delivery. They're going to hit print on that LEGO set and have it manufactured in their closet. This is where we're going. It's going to disrupt multi hundred billion dollar transportation industries. You're not going to have warehouses full of stuff. You're going to have it on the cloud. Do you guys get the impact of where this is going? And then finally, 3D printing of Biolog. This is Tony Atala who's now working on 3D printing of organs. I won't go into detail, but it's. But the work is going on right now. So that's just a small piece about some of the exponential technologies. Again, AI, synthetic biology. I haven't touched any of these things. Let me give you a little bit of overview of the other side that I've been researching and working. And I want to teach you guys about how to use which I call exponential organizational tools. Exponential organizational tools, Incentive competitions, Data mining, gamification, Crowdfunding, DIY communities on demand workforce crowd ideation. So My friend Bill Joy has a famous quote. He says, no matter who you are, most of the smartest people work for someone else. Even if you're Larry Page at Google with 40,000 employees, that's 40,000 out of 7 billion. So the question is, how do you get those 7 billion or some subset of those people to do stuff for you for free, for fun? What I've been researching is the areas of what I call exponential organizational tools. And one of them is gamification. How do you take your problem that you have and gamify it? Say, oh my God, I've got this crazy problem, I don't know how to solve it. Well, how do you get other people to solve it for you? Either for a fixed price or for free? Because you make it fun and you gamify it. There are amazing companies which I've spent time with and extract information like Badgeville. And if you guys get my blogs, a lot of the research and information are on my blogs@diamandis.com but let me show you two examples of gamification. This is a gamification of how do you get my park cleaned up? How you make it fun for people to clean up. Your park. Even works for deaf people. In one day, 72 kg was cleaned.

Up.

41 kg more than normal. Oh no, here's another one. How do you get people to exercise.

It?

All right, you get the idea. A friend of mine, an SU graduate, was trying to deal with malaria. And by the way, there's potentially a new vaccine that's come out for malaria, which would be life changing in the world, but malarial detection is expensive. And so what he did was the way that you detect malaria today is that you actually have a person who has a microscope and actually looks at a slide and is looking for the malaria parasite in the blood and he has to basically do a count. And it's time intensive and it costs a large amount of money. So what this person said is we're going to take blood samples, image them, put the images up on the web and teach the public how to find the parasite. By making it a first shooter game, we gamified it. So MalariaSpot.org is a first shooter game for looking for the malaria parasite in blood images. And it was amazing. Come to stats here. It was launched in April 2012 in 30 days at 8,000 players in 95 countries. If you combine 22 games from non expert players, they achieved an accuracy of 99%. And if they gave those people one minute of training and combined 13 games, you had 99%. So again, how do you take your problem and make it fun for people to solve? It's gamification on demand workforce. So I talk about this to people running $10 billion companies, 100,000 people in their workforce, I'm saying, yet 100,000 people in your workforce is a lead keel for you. How do you instead, instead of employing a large number of people, employ people on demand when you need them. So think about it. Can you get the people to do the work for you as a large scale labor force, where you pay them only when they do the work? So there are companies like Crowdflower, like Freelancer, like a number of them. Crowdflower is one. It's one of the largest. It's got millions of people around the world that you can get where you say, I'll give you five cents to do this piece of work. So here's an example. This is Sarah Fortune at Harvard Med School, who I know, who does work in tuberculosis. And she was working on TB survivor cells. And she had to have hundreds of thousands of images looked at. Now forget about its TB cells. Maybe it's images of pretty women, maybe it's images of homes on the Internet.

Maybe.

Maybe it's images of whatever you need. To get her work done, she had two options. She either hired 100 graduate students for a year to look at these images, she created an AI to look at the images for her, or she went out to the crowd. And so what she did is she went out to the crowd to 3 million people on Crowdflower, and she offered $0.05 per image analysis, whatever the case might do, and she got it done in a week. We're all in the marketing world here. There's a company called Freelancer. I want to show you an example of what they did. Freelancer is 6.7 million. How many folks know Freelancer as a company? How many folks have used it? Okay, small number. I have for a lot of my work. 6.7 million people in 234 countries, $200 million of projects online. 600 categories of work. You can get a freelancer in synthetic biology. If you want to start a synthetic biology company in astronomy, in quantum physics, in anything. 600 different categories of experts who are available per hour or per finished project. And so what Freelancer did was in the average. It's a $200 paid gig. These people are super smart PhD, PhDs in Pakistan you can hire. They said, what can we get for $25,000? And they put up a challenge that said for $25,000 expose our freelancer logo in your local community. They had 441 entries. The winning team got 3,000 villagers in Bangladesh to put on 3,000 T shirts, 3,000 bandanas and 3,000 flags and march into a stadium. And they won 10,000 of the 25,000. Let me show you a video of of what that looked like. You ready? You ready to win $25,000? Well, listen up, because the freelancer.com expose our logo contest is back. So these are all different teams around the world and what they were doing to try and compete. And they only got paid on, you know, at the end of this. So people were skydiving for this competition. Nobody was guaranteed a penny. Here's In Bangladesh, the 3,000 villagers. This was a rap music star, created a rap song for him. I love this motorcycle gang. Enter the competition. So another area is crowd creation. So how many of you have used 99 designs? A great number. You're great. So you know this. You can go and I use it all the time for logo. It used to be I would hire a production company and they charge me, you know, thousands of dollars. And I get one final product with 99 designs. It's extra extraordinary. And you guys should, you know, if you haven't used it, you should t shirt or print Design. Go to 99Designs, the number one marketplace for crowdsourced graphic design. 99Designs helps you host a design contest where a crowd of graphic designers compete to give you the design you love or your money back. In just seven days, you'll have dozens of custom designs to choose from at a fraction of the price. Logos start at just 299. Start your next graphic design project. Go to 99designs.com but what you might not know about is a company called Tonggle that is a version of that for creating television commercials. Anybody here use tongle at all? So I've used tongle. Brendan, do you enjoy it? So what Tongle realized is that the old Madison Avenue way of creating TV commercials looked like this. It would cost you between a quarter million dollars to a million dollars to get a TV commercial made. It cost about six to 12 months of your time. You get one finished product and distribution of that product, well, that's extra. What Tonggle has done is it said, you know, there are 40,000 people in Los Angeles with a 1080p HD camera and a Mac who want to be known, and they will fight tooth and nail to create a TV commercial for you. 40,000 Garage Studios. So they put up 10,000 to $100,000 competitions. And in those competitions, you actually get ideas and final products. So here's an example.

Sure.

Tech that makes duct tape wanted to refresh their brand. And so what they did was they created a competition for 10,000 bucks. They put out to the community of players and they said, give us ideas for a TV commercial for duct tape. They got 500 ideas back. And by the way, the idea is to be in a 140 character tweet. They narrowed those 500 ideas down to five ideas. They said, okay, these are the five ideas we like. They put those five ideas back out to those garage studios and they said, make TV commercials around these five ideas. They haven't paid anything yet. Right? They haven't paid a dollar yet. Those Garage Studios created 60 final videos for them to choose from. Let me show you what the winning video looked like. By the way, the timeline was in weeks. Remember Tron.

Jay, I told you to clean the garage, not play with duct tape.

Yes. There's no way she's his girlfriend. But this video, on top of being produced for that fixed price, then goes Viral and has 2.5 million views. This past year, Tongl made its first Super bowl commercial. So it. If creating television commercials has been out of reach, here's a way to get the crowd to do it and compete their butts off to do it for you. So what are the best ways to do that? What are the platforms you can use? This is the work that I'm learning to teach and share with you guys. Data mining. You may have heard about this. I want to share it with you because it's one of the most powerful things in the world. You guys have a. I think the technical term is a shitload of data. And in that data, there's literally gold. How do you extract that information? And by the way, if you don't have data, you can actually go to the crowd to Crowdflower or Freelancer and have the crowd create the data sets for you. Like, I'll pay a penny for any piece of data on this subject. But once you have that data, the question is, can you extract the value from that data? So I'll give you two quick examples. This is a good friend of mine up in Toronto I just introduced to Dan Rob McEwen. Rob is the chairman of Goldcorp. You may have heard this story from me before, but it's important you hear it again. What Rob did was basically had a gold mine, and he had no idea how much gold was in his mine. He spent nine years collecting geological data from his mine. And when he went to his geologist and asked, where can I find this next 6 million ounces of gold? His geologist, the best he could employ, had no idea. So what he did is he created a competition and he took all of his geological data. Think of it as marketing data for you. Think of it as customer data for you. Think of it as whatever data that you have in your files. And he put it up on the web. And he said, I, I'm going to give up a half a million dollar prize for the person who can show me where the 6 million ounces of gold are in this mine. He had 1,400 data requests, 125 entries in the competition. Three winners showed him where to find 6 million ounces of gold. None of these came to his mind. One was in Russia, two were in New Zealand. What they did was look at his data in a different way. And he only paid the winners and ultimately about a million dollars of total investment on his part, generated $3 billion in value creation. Here's another example, and what I'll do is, if you follow my work, introduce you to a company called Kaggle, that's one of the best data mining companies. Turnkey is a process. How do you use Kaggle? How can you extract the data? What Kaggle did was they did a demonstration with Allstate. Allstate Insurance, $32 billion company. What are they in the business of doing? They're in the business of saying, if you're A woman, age 25, living in this city, unmarried, your probability of having an accident is X percent. That's the business they're in because they then set your rate based upon your probability of having an accident. And so they employ 40 statisticians, the best in the world. But they decided to do an experiment. They said, okay, we're going to see if the data mining experts out there in the world can do a better algorithm to tell us if we have this kind of data, what the result is. So they put up a $10,000 competition. They had 107 teams entered this. Ten weeks later, they put up a training set. They said, here's a bunch of people. Here's their accident rates. Here's a bunch of people, you tell me what their accident rates are and the test set. In the course of 10 weeks, they improved Allstate's internal process and algorithm. 340% for 10K. That's worth billions of dollars to them. So what data do you have that the crowd could give you an algorithm on to Tell you predictively which customers will buy or whatever the case might be, what is that worth to you? If you could create that kind of competition and have these data analysts who, by the way, during the day work at Google or JPL at night, they do this because they want to prove they're the best in the world. I'll end here on crowdfunding. No bucks, no Buck Rogers. One of the most powerful things out there that you should be doing right now, I don't know. Is Slava here? Not yet, but you'll meet. So there are 530 crowdfunding platforms out there. Indiegogo is one of the biggest. You'll meet Slava. You've got Rocket Hub, you've got Kickstarter. They generated $2.8 billion of revenue last year. They're slated to create $15 billion of cash available by 2015. Every company should be doing a crowdfunding because by doing a crowdfunding project, you are not only getting revenue in, you're testing interest in your products and you're creating a passionate community of people who are following your work. So I interviewed the top people. Eric Migzigoski is a guy. I won't go into the story in detail. I've got a minute left. Eric is a guy who basically was running out of money, decided to create a competition out there to fund his Pebble Watch. He had six weeks of cash left in the bank, put up this competition and raised $10 million he needed. $200,000 was what he was looking for. Just a few months ago, Eric Anderson and I and the team at Planetary Resources, I think Mike Klein is here in the room who is working with us as well. We ended up doing a crowdfunding campaign for a public use space telescope. Used all of the techniques I've been learning here, and we went out and beat our goal by 50%. Our goal was a million bucks raised. 1.5 million. So let me pause there a second and say I've given you just a small smattering and I'm sorry, this is on overload. My goal here is simply to give you an overview of all of these powerful technologies are coming down the pike. Okay. I hope you found that video awesome and useful. So if you want to get a free copy of my book, I want you to click here. And if you want to watch some more videos that will be useful and awesome, click here. Go ahead, you're over here. Do it now. Come on.

Thank you.

Watch them.