Peter Diamandis Interview: Abundance, Mindset & Success

Good morning, everybody. It is truly a pleasure to be here with family. And I really view all of you as family. A family of individuals taking action in the world. One of the things that I realized is we don't have enough people taking action in the world. And I think that difference between someone who says, I'm going to sit back and let it go by, and someone who says, no, I don't like the way it is, is huge. We're now living in a time where the ability we have to actually stop complaining about problems and solving problems is extraordinary. I think about the fact that hundreds of thousands, thousands of years ago, if you wanted to solve a problem on a global scale or on a national scale, you had to be the king or queen of a country to have an impact. Hundreds of years ago, you'd have to be the head of state or a robber baron or an industrialist. Have an impact. Today, all of us can have an impact. The difference between having an impact and not having impact is a decision. It's not resources, it's not money. It's all there. It's a decision. So I'll talk a little bit about mindset today, about thinking about how we think, because ultimately it's the most critical thing. What distinguishes us as humans from every other animal, what distinguishes one human from another is how we think. And I want to encourage you to think in what I call a bold and abundant mindset, because how you think matters, and it changes everything in your business, in your life, everything. So I'm going to begin by a tribute to Joe, because my life changed extraordinarily when I met Joe. He's someone who is such an extraordinary giver, a man who is like, what can I do for you? What can I do for you? What can I do for you? And, you know, Joe is to love Joe. And Joe introduced me to Dan Sullivan and Babs, which was a great gift as well, who's become a new mentor and friend. So I wrote this book, Abundance. It was great. We hit number one in the New York Times, on Amazon, and between New York Times got close, folks like Mike Klein jumped in. And the whole superhero community here in 25K, where I'm a proud member, really helped drive this on the New York Times list for nine weeks. And I'm so grateful for that. And again, the thing that I realize is that most of humanity is so mired in the muck that comes to them over the television and the newspaper and the radio, what I call the Crisis News Network, right? Every time I walk by CNN in my office. It's some calamity on the planet going on that is fed to you in high definition over and over again. And if you listen to the news and you read the newspapers and you read, you know, watch television, their mission in life is to capture your attention. And every murder, every problem on the planet is fed to you over and over again in definition. I mean, how can you possibly have a positive mindset watching the news? And I think if you know my work, the realization is that it's not the way the world really is. In fact, the world has gone under tremendous transformation over the last hundred years driven by technology which is itself exploding onto the scene. And we'll talk about that a little bit. So Abundance was a book about where we're going to be in 20 or 30 years. I'm very proud. You know, it was such a success again with the help of this incredible community that my publisher Simon Schuster quadrupled the advance and said let's do the next one. And Bold, I don't have a cover yet, but Bold is about how to get there. Bold is what I'm going to be speaking about here. It's co authored with my good buddy Steven Kotler. But it's the how to manual. How do we create a world of abundance? Because the realization is that the world's biggest problems are the world's biggest business opportunities. Right? The best way to become a billionaire is help a billion people. Just think about that. And my goal here is to have you think big, help you think boldly. So to get us in the right mindset. Let me share some data. Re releasing Abundance in September. You can see this is the paperback edition, but there's that Starburst with new evidence of abundance. And I have an amazing team from my Abundance360 community. And in fact actually if I just. Guys raise your hand in the back here and Marissa over here and they did a bunch of research of what's the data showing us. And I want to just give you some of the data. So let's talk about where we're going in abundance. So the first is increase in freedom and happiness. So this is in fact the look at slavery and indenturedness over the world from 1750 or 3/4 of the world was indentured or enslaveitude if you would down to under 10% today. This is annual hours worked per person. So even as the rate of you saw our status of living has increased massively. The number of hours that we've had to work for that Standard of living have plummeted. And of course on this graph you can see that France is where you work the least. This is percentage of degrees awarded to women has been skyrocketing. And I love this graph. It is a correlation, a direct correlation between happiness and, and access to technology. And guess what's happening in terms of access to technology? It's exploding around the world. If you look at reduction of violence and increase in safety, CNN would have you believe that there's constantly we're a world under siege, that your life is about to end. But the fact of the matter is, and this comes from the work of Steven Pinker, we're living during the most peaceful time ever in human history. Your chance of dying a violent death are 1, 500 of what they used to be. So you can see just the radical fall off in war around the world. Yes, World War II and World War II one are peaks here. But at the same time, look at what's been happening over the last 20 years in terms of regional and local wars. If you look at safety, automobile and airline just plummeting in terms of fatality rates increasing health. I love this. Maternal mortality for the mothers in the room here used to be a risky business to have a baby. Today it's dropped off to near zero. At the same time infant mortality. Imagine having your children die today. The ability to guarantee that your children can get through childbirth and live to age 5 or older. On the flip side, the extended healthy human lifespan more than doubled the human lifespan in the last 100 years. And I'll be talking about how we double it again very shortly. On the energy front, electrification and the cost of energy has dropped and plummeted. Solar costs are plummeting at the same time that the production of solar is going through the roof. I was having drinks with Elon talking about from solar cities, what the prediction is 50% solar in the US within the next 15 to 20 years. And the rest of the sunnier parts of the world catching up very quickly thereafter. Reducing poverty. And I love this, this is the COVID of the Economist magazine that we really are heading towards the end of poverty on this planet. At least extreme poverty. Finally, what's making this all possible is technology. And look at these numbers. This is bandwidth costs for a gigabit $1,200 down to $23 over the last 15 years. This is the cost per a million transistors used to be $222 down to 6 cents. This is the cost of storage for a gigabyte 600 bucks down to 3 cents. This is happening right now. And if you want to know why your businesses are exploding and what's going on, the reach you have around the world, here's the data, this is what's happening. And then finally, I love this one, which all of us are the beneficiaries of. In 2000, if you wanted to start a TEC startup, the average startup cost was 5 million bucks. Today it's 5,000 bucks, thousand times cheaper. Talk about an explosion of entrepreneurship. So what's going on on the scene here is that we remain unchanged as humans. We haven't had a software upgrade in 50,000 years. We're the red line here. That linear and local thinker that evolved on the savannas of Africa, that yellow line, that exponential growth, an exponential is a simple doubling, right? 1, 2, 4, 8, 16, 32, that's exploding on the scene is the technology that we are creating and using. And the difference between those is either disruptive stress or disruptive opportunity, depending on your point of view. If you're the CEO of a Fortune 500 company and one of you guys come up with a disruptive innovation, it's disruptive stress. If you're the kid in the garage who comes up with the innovation, it's disruptive opportunity. What we're going to be seeing over this next decade, and we're living at the knee of the curve. This is like the most important time and exciting time ever to be alive. Science fiction is becoming science reality every single day, is that in the next 10 years, 40% of today's Fortune 500 companies are going to be gone, put out of business by companies we haven't heard of yet. At the same time, to echo that, this was from Richard Foster at Yale. If you started a company in the 1920s, you had a 67 year run rate that you could milk the company before you were disrupted. Today the average is 15 years. The rate of disruption is increasing at an extraordinary pace. I love this. And it's happening every day. And we report on it. We go from I've got an idea to I run a billion dollar company in record time. Literally, we're seeing billion dollar startups in 18 months. And here's just a short list of some of them that we read about, play with, know about, and it's possible, right? You can go from I've got this great idea and scale to a billion dollar valuation in a year's time, two years time. It's not easy, maybe you have to be lucky, but it is now possible like never before. All of that's being driven by computational power. All of this exponential change I speak about is being driven by the fact that computers are getting faster and faster and faster. That nine years from now the average thousand dollar computer that you go out and buy is getting the computational power of the human mind. And then 25 years later, it's got the computational power of the entire human race. And what's happening that's so extraordinary is we're living into this world of convergence. This is where I spend my life. I spend my life running the xprize singularity university abundance360, looking at and feeling the pulse of this convergence where all of these faster and faster computers are driving a slew of different technologies. What do you mean by that? I mean pervasive networks connected everywhere, ubiquitous centers. A trillion sensor economy where you're going to be able to know anything you want any time you want anything you want to be measured. Artificial intelligence, which is going to rock our world like you've never imagined. Robotics, 3D printing, synthetic biology and medicine. And so faster computers is sort of the growth medium that all of this stuff is happening in. And all of this stuff is technology that if you're not using it yet, you will be guarantee you will be touching and using all of these technologies within the next five years. Do you remember the first time that you guys remember seeing email or hearing about email or a webpage? It was like this foreign thing. I remember the first, like what's this AOL thing I keep hearing about? Or this webpage thing I keep hearing about. And now it's second nature, we're using it all the time. You're going to feel that way about these technologies soon enough. You have to, to be able to have the impact scale that you want on this planet. And part of my mission, part of my ethos is helping people understand how to use this, how to gain access to it and how to use it to try and solve bigger and bigger problems. Creating wealth, but also creating a world of abundance in the process because those two are so correlated. So I want to give you just a fallback a little bit on some of the lessons here to give you an understanding. So what's driving all of this convergence and this explosion of technology is what is called Moore's Law. You may have heard of it. This is the guy, it's named after Gordon Moore, who's one of the founders of Intel. And while he was at intel, he noticed that the number of integrated circuits he could put on a chip was doubling every 12 to 24 months. He wrote this paper in 1965 after just seven years of seeing these doublings, predicting this was going to continue. And in this paper he said the IC chip price performance doubles every 18 to 24 months and is expected to for the near future. And that projection has held true for 50 years. And every time we hit a boundary condition of what kind of particular manufacturing processes we break through that boundary condition.

Hey, I hope you're enjoying this video. And I want to let you know that I have a new book that's come out and if you'd like to get it absolutely free, there's a link.

Below in the description.

Or you can wait till the end.

Of this video or you can Simply.

Go to joe'sfreebook.com and you can get a copy there.

So what does that look like? So this is the first integrated circuit ever built in 1958. It's got two transistors on it. You can see it there, those like rectangular things and they're interconnected. So it's an IC. In 1971, intel put out its first commercial product. It had 2,300 transistors, about a dollar per transistor, 740 kilohertz frequency. And then a couple years ago, here's the Nvidia GPU graphical processor unit. That's 7.1 billion transistors at 0.0000001. And that's what's driving all this. The fact that you have so much capability so cheaply that empowers so many different technologies. So it's a hundred billion fold improvement since 1971. Pretty extraordinary. And we're seeing this, and I just want to point out we don't notice it. We take it for granted. And that's extraordinary. I want you to take a second with me to notice this. Let me give an example. Here's the first digital camera ever. In 1976, Steve Sasson comes up with it inside Kodak, brings into the boardroom of Kodak and says, here it is, the future of Kodak. And of course Kodak ignores it because they're, they don't realize what business they're truly in. They think they're in the paper and chemicals business while they're really in the memory business, in the photography business. And so today the digital camera is not 0.01 megapixels. It's 10 megapixels. It's 10 bucks. It's 1000 times better resolution, 1000 times cheaper, 1000 times a billion fold improvement. And because Kodak missed it, they went bankrupt. But here's the point. This is where it is today. If you expect it's going to stay here and don't project where it's going to be, you're missing the point. Where is it going to be when 10 years from now it's 1,000 times better than this and 20 years a million times better, and 30 years a billion times better? I mean, it's going to be insect eyes, right? It's going to be in our clothing, it's going to be floating through the air in microdrones, it's going to be everywhere. And as a marketer, you're going to be able to ask a question. How many people in Manhattan at 5th and Madison are wearing blue shirts right now? And know that answer. I mean, the notion that you're going to be able to know anything you want, any time you want is what's happening with this global sensor explosion. So I think about the fact that this is where it is today and you have to stretch your imaginations to imagine where is it going to be a decade from now and build your businesses with a projection. I remember meeting the founders of Siri who said when we got together to found Siri, the technology didn't exist for it. We had to project where it was going to be three years from now in terms of bandwidth, computational power and build for that. So as you, the first learning here is as you are building your businesses, you need to project where's technology going to be as a facilitator for you two, three, four, five years from now. Because if you deliver a product based on what it's today, you're out of business or you miss the boat. Does that make sense? It's getting to the puck and I'm not a good sports analogy guy, but I think that's correct. This is the first inertial measurement unit that took us to the moon. 50 pound, millions of dollars. Here it is today, under a buck a chip on your phone. This is what makes drones possible. Where's it going to be in the future? It's going to be molecular in size. It's going to be in the clothing, it's going to be in every device. It's going to have accelerations and velocity and state vectors, information. So as you pick up your fork, it's going to tell you how fast you're eating your food. This is the first GPS unit. 120,000 bucks, 53 pounds. Imagine this on the dashboard of your SUV. Here it is today, right you can barely pick it up because it's too small. Five bucks. So where is this going to be? So just think about the technologies you have today and project them forward. Because what we think about in science fiction is, in fact happening. And again, this is where it is today. It doesn't stop here. It isn't like we're not like, aha, we've achieved it, we've arrived. No, it continues a billion fold better than that. So when I think about this, Dan encouraged me. I'm just again, so grateful to Dan Sullivan and strategic coach for all of his support and mentorship. As I teach this, I teach about the six Ds of where exponential technology is going to. And this is a framework for you to think about your business and technology. The first is that anything that becomes digitized becomes digital, and everything's becoming digitized. Manufacturing, health, obviously, everything that we do in this room here, it enters a period of deceptive growth. Because in the beginning of exponential growth, 0.01 megapixel cameras, 0.0, 2.04, 4.0. It's a slow growth phase, and it becomes disruptive. Then it drives three things that's rocking our world right now. Dematerialization, demonetization, and democratization. Dematerialization means that today, all of these things, these physical objects, have dematerialized into your phone. So I ask CEOs all the time which of your products or services are going to dematerialize? Because once they do, they demonetize, right? Uber's demonetized the taxi fleets, Skype, long distance, Amazon, the bookstores, Google Research, Airbnb, hotel chains. Craigslist has decimated the newspapers. It's taken the money out of these, put them back in the consumer pockets. So you have to be clear. Are you demonetizing industry or are you being demonetized? Because I would posit to you that everything can be demonetized and dematerialized in one form or another. And then when that happens, it democratizes a billion handsets in Africa. By 2016, you can come up with a concept and have a billion users in Africa. I mean, you had to have been Coca Cola with arms and legs in every country around the world to have that kind of a reach. Today, you're a kid in a dorm room. That's the exciting world we're living in. So, four critical insights. The first is that the only constant is change, and the rate of change is increasing. Are you with me there? And you can't relax or you can't sit Back you can. I mean, it's up to you. We're living in a world where abundance is coming. But if you want to keep on top of it, the second is you either disrupt your own company or someone else will. Standing still equals death. And this is what scares the shit out of Fortune 500 CEOs. And they pay me to scare them. But this is what should be exciting to you, because when you see a great profit margin in a large company, your opportunity is to go and figure out how do I disrupt them, because they cannot move as fast as you can. Third, insight is your competition, and this is mostly to large corporations, is no longer the multinational overseas. It's the guy or gal in the garage. And the interesting thing is that it's not the one or two guys or gals in the garage. It's millions of them. In Mumbai, in Singapore, in San Jose. The number of entrepreneurs is exploding into the world. And then finally, your mindset matters a lot. So, three key questions here. Jot these down and think about this later. Where are you thinking local and linear? Where you should be thinking global and exponential? Which of your products and services might become dematerialized or demonetized? And where inside your company are you taking moonshots? So I can talk about this for two days straight? And I do it. Abundance360. So I've got 45 minutes to wrap up, and I've got just another 10 to close this out. But what I'd like to do with you is to share with you the four moonshots I'm taking. And I want to share this as inspiration, if you would, for encouraging you guys to take moonshots. Because we're living in a world where you can. You can aim big, and many of you are. I don't want to diminish the fact that you are, but I want to encourage you to think as big as you can. So the first moonshot is to eradicate illiteracy on this planet. And you know that I'm very proud to be the CEO and chairman of the XPRIZE Foundation. I have my X Prize team. Where are you guys, by the way? Can I. Can you raise your hand there? We have my XPRIZE team here and down over there. And our next big XPRIZE that we're launching on September 22nd is called the Global Learning XPRIZE. And it's perhaps the most important thing that we've ever done. It is an XPRIZE to help a billion people on the planet learn how to read, write, and do math. Nothing less than that there are a billion illiterate people. A couple hundred million of those are kids, and they live in places where they will never have a teacher or have a school. Just can't scale humans or schools that quickly. So what we've done is that we have built out an xprize. And it's an XPRIZE that is going to be asking teams around the world to build a piece of software that can operate on any tablet or cell phone. They can take a child where there's nothing, no teachers, no schools, nothing, and take them from illiteracy to reading, writing and numeracy in 18 months. This is a piece of software that will go open source and be put on every Android, tablet and device out there. So we're getting ready to launch this at the end of September. It's a $15 million prize. It is funded by a set of rock stars. And we're going to be joining onto this an indiegogo campaign. And one of the things I would love is help from this community to make this thing go as big and as bold as possible. I don't have time to show the video right now, but I'd like at lunch today. XPRIZE is sponsoring the lunch. I'll talk more about this, but if this is something that you're passionate about, like creating literacy which uplifts humanity, makes us a a more peaceful world of helping teach 100 million kids on a scalable fashion how to read and write and do numeracy and unlock innovation for them. If this is something that you, as a superhero community of marketers are willing to help us promote globally, we'd love your help. And if it's something you're interested in, just to get a sense. Can I get a show of hands? Who would like to be part of this campaign for us? Just raise your hand if you could. Keep them up there. Keep them up there. Okay. And at lunch, I'm going to be following up with you guys. Quick, quick. Name capture. I've got an AI that's now tracking every name and every face and sending you an email in about 30 seconds now. But I'm very proud we have Jono on our team. Ran the largest crowdfunding campaign ever for Ubuntu. They set a 30 million dollar goal. Jono, you did? How much of that goal? 12.7 million. 12.7 million. They didn't take it down, but we're hoping to really do that. Our goal is not the money. Our goal is 100,000 people supporting this to become one of the most massive events on the planet and transforming the planet. So the next moonshot I've taken is called Human Longevity Inc. I'm going to be talking about this at Abundance360 this year. It's crazy. We did a $85 million seed round in three months. This is a company. My goal is to add 30 to 40 healthy years on your lives. Our mission is to make 100 years old and you 60. My co founder and now taking on the role of CEO is Craig Venter who created the first human, the first sequenced the human genome, created the first synthetic life form. And then Bob Hariri, who's the top stem cell scientist on the planet. And we're creating the largest database ever. We're going to be a million people in the next five years. Phenotype data, their full human genome, the 3 billion from your parents, 3 billion from your mom and your dad each the microbiome sequencing, your entire microbiome, full body MRIs, your metabolome, the 2400 chemicals in your bloodstream and then finally your proteome. And all of this data is being collected. And we just hired away from Google Franz Ock, who is the top machine learning person who did Google Translate and is going to be basically taking this data and coming up with what we believe is going to be transformational innovations in, in human health. So what's life like for you? If you get to live an extra 30 or 40 years or 100 years old, you're going strong. The third moonshot I'm working on right now is prospecting near Earth asteroids. So these rocks hit the Earth once in a while. That's not a good thing. There's 60 million of them in the solar system. About 1.5 million are a kilometer in size. About 1,000 of those come close to the Earth. And there are a set of them that are on Manhattan Islands, the most valuable rocks in the solar system. And there are 11 of those. And our goal is to go out there and to prospect those, lay claim and extract resources. What resources? Fuel and platinum group metals. By the way, this is an example of one of those rocks comes by the Earth every two years and about a half a kilometer by kilometer and it's worth about $5 trillion. These are the spacecraft that we're building right now. We have a lab and a team of 40 engineers up in mountain, up in Seattle. And this is the spacecraft, this is our picks and shovels, AI on board laser com back to the Earth and for scale, that's how big it is. And that's Chris Slicki, our president, with Larry Page, our first investor. And these devices are instead of $600 million, they're a million bucks each, 600 times cheaper than they would have been at JPL. Chris ran the last three Mars missions at JPL before he stole them away. So getting access to abundant resources wasn't possible. It is now possible. My final mission is creating a world of abundance. It's what I care about most. And with that, for me it's been about creating a community of people. Many of you are part of that community, the Abundance360 community. And I believe that we can in fact create extraordinary wealth while creating a world of abundance. And in fact the two go very much together. And so for me, it's about making my 25 year commitment to that. And I announced that last year with Dan. And thank you for the inspiration, Dan. And then bold is the how to manual. So I want to wrap by saying, guys, we're living in a world where anything is possible. Your mindset is the most important asset you have. Don't restrict yourself. Go big, go bold. The world is there for you to create your visions of the future. We're living in a world where science fiction is now science fact. Thank you all very much. Okay, so abundance.

What the hell is abundance? How did you get in on all this and how do people think about it?

So I live my life in a very amazing world and community, both at the XPRIZE foundation where I serve as founder and chairman, and at Singularity University where I'm co founder and executive chairman and all the the companies I've started. I'm working on my 19th company right now with my good friend Evan Pagan, which is going to be awesome.

Watch out for him, by the way.

Yeah, I know, but I started realizing that everything that we used to think of as scarce is becoming more and more abundant. And it turns out that technology is the force that takes what used to be scarce and makes it abundant. And we forget as humans what the we world used to be like. We've got this perverse version of the future that was, you know, we ideal, we make ideal, but it's not, you know, we used to be based on an energy economy of like whale oil for lighting, right? Then we discover this thing called petroleum and we start getting after that. And then we have technology that allows us to dig 5,000 meters below the ocean surface and then 5,000 meters sideways, get access to more oil, and then we'll all of a sudden we're fracking for more natural gas. And so energy is becoming more and more abundant. And then all of a sudden we realize that there's 8,000 times more energy hitting the surface of the earth than we use as a species. And there's this explosion of solar production. The cost of batteries is dropping at two to three times faster than the optimists predicted. So we're heading towards a massively all electric economy. And then you think about well is water scarce? But we live on a water planet. One of our X prizes that Ratan Tata out of India's funding a water abundance X prize is about taking the water out of the humidity of the air and giving a family, you know, 20 liters of clean drinking water. So the question is what do you think of as scarce? And I would posit that there is very little that is truly scarce. That technology takes anything that used to be scarce and makes it abundant. You know Naveen, a dear, dear friend, one of my most successful pupils. I might say he's my older brother from another mother. But we're working on the fact that the earth is a crumb in a supermarket filled with resources. Right. There is no limitation. A half kilometer nickel iron asteroid has got, you know, platinum group metals a thousand times cheaper than you can get it on the surface of the earth. And so energy, water, food, healthcare and education are going to go to zero cost eventually. That's just, we're demonetizing and dematerializing that. We can talk about that if you want. And at the end of the day the only thing that is some degree limited is time. Whether you're the richest person on the planet or the poorest person person on the planet. We're all born with the same 24 hours a day, 365 days in a year. It's how you use your time that can make it more abundant. My work at human longevity and singularity is adding 30 to 40 healthy years in a person's life which will make time more available. But it's how you use your time. And Dan, you talk about the importance of free days and how you. We just coached in this last session we talked about how do you buy back time.

Yeah. So my approach is very single minded, very single focused. So I have, I'll give you an example that these are two of my great successes because I used to worry about not being connected in the world and I'm not a connector, you know, I'm not, I'm, I really don't have the instinct, you know, to be in contact with a lot of people. And Dean Jackson, where's Dean. Dean, Is Dean here? Where's Dean?

He's sleeping in.

He's probably drinking and smoking out there.

Can you imagine Dean tying one on? I mean, it really. Anyway, we were just comparing cell phone experiences and we determined in our last podcast that Dean in any two day period has more telephone activity than I had had in the previous year and a half. And half of my telephone activity was actually with Dean.

So.

So I'm not really plugged in, but I look at individuals like Joe and I look at individuals like Peter, like resources. So to go back to the resource model, my job is to take a resource called Joe from a lower level of productivity to a higher level of productivity. And when I met Peter, I got a feel of where the center was for Peter and I said, you know, if we could just free him up, the impact on the planet would be a lot greater. So what I look like is individuals that if I can show them how to buy back their time, just get centered on where the real power of who they are as an individual. In other words, where their confidence is and where they feel most abundant inside themselves. And then you can get them focused and you can create a network of very, very skilled people around them. Then you can multiply the impact of this individual 10 times, 100 times. And you know, with technology available today, it can become global in its reach. And day in, day out, that's all I'm interested in, is that one resource called the, you know, the person with a passion for a particular new thing on the planet who's dedicated his or her life to that. But they've gotten kind of complicated, they've gotten kind of complex in their life and bring them back to simplicity and then build frameworks, help them build frameworks around them so that they can just be doing what they do on the planet all the time. And that's the source of energy too, for the planet. That's, you know, it's the human, human side of it. So that's really, that's really what I do. Yeah, yeah, yeah.

Which, you know, when you just even.

Talk about resources, I mean, are you of the belief that we have plenty of resources in all areas? It's a distribution problem.

It is. So the challenge is that we as humans are dematerializing, demonetizing and democratizing products and services. I talk about the 60s, Dan, and I spend a lot of time talking about this. I work with the entrepreneurs that I coach in abundance360 and abundance digital to help them understand how do you digitize everything you have. Once you digitize your products, your services, they enter a period of deceptive, slow growth. Then they become disruptive and they, in this sequence, dematerialize, demonetize and democratize. And so the digital camera is an example. Right. Film photography used to be very expensive and inefficient. Remember when you used to pay for the whole roll of film to get exposed and you hope a picture came out? What a gimmick that was. And you know, so then we dematerialize, demonetized, and democratize photography and film photography falls off a cliff and digital photography grows. Last year, 1.2 trillion digital pics taken and it's exploding onto the scene. And so there's.

How the hell did they count that?

I think they probably do an average and they multiply by the number of digital cameras. Just want to make sure you're not making stuff up. You kind of. But at the end of the day, well, you know, it is an absolute fact that 27.8% of all facts are made up on the spot. Yeah, I was good to see if.

You were going to respond to the audience laughing or just got to go with it. That was good.

Thank you. I appreciate it. I learned that from you. But there is very little that truly is scarce. And so the job of an entrepreneur, your job as an entrepreneur is to actually find, find an incredible area that you're passionate about and to make it abundant, to digitize it. And we're seeing this over and over again. We're about to decimate banking industry, insurance industry because of blockchain. Because the fact that. Can I jump into one fun fact? Yeah. In 2010, we had 1.8 billion people online. 2010. Today it is about 3.5 billion people connected on the world by 2024. What is that, six years from now? We're going to 8 billion people connected online. So we're getting about four and a half billion people are going to come online in the next six years. Now, for this community in particular, it's 4.5 billion new customers who've never uploaded or downloaded anything before, have never had digital experience before. Think about this. We're doubling the world's population and these people are coming online not like you and I did at 9,600 baud on AOL. Right. They're coming online at a megabit gigabit connection speeds with access to the world's information on Google and Baidu. They're all going to want health care, education, insurance and banking. They're not going to go to an atm. They're not going to go to an insurance broker, they're not going to go to a school, not going to go necessarily to a hospital. They're going to want all of these things digitized at marginal zero cost and huge markets, huge businesses. Add blockchain on top of that and you get changed the world. And one of the things I realized, if we're going to make more wealth in the next 10 years than we have in the entire past century, and I predict that the Forbes 500 list is going to be radically different 10 years from now.

Yeah, well, okay, so talking about making wealth and creating business for the people here in the room, what are the mindsets, Dan, that over all these years are critical for freeing yourself up in order to do it? Because it's sort of an interesting thing, thing, as you said earlier, freeing someone up like Peter. So Peter can be a bigger version of his already, you know, pretty superhuman self.

Yeah, well, and it's Peter connected to a lot of new people that he hasn't even met yet. In other words, there's going to be people, you know, it's a bit like what Naveen was talking about. He just put out that he wanted to make illness optional for people that you could actually choose. And all of a sudden, talent pours out of the walls of people who've been working on something for 10 years, 20 years, but they didn't have a spokesperson, they didn't have a public vehicle for their work. And so, you know, I really talk a lot about mindsets. And Peter and I are pretty much totally in agreement that basically mindset either closes doors or it opens doors. And I've been thinking, you know, I've been coaching for 43 years and I said, well, if you had just a couple mindsets that would make people more.

Open.

To taking advantage of everything that Peter's talking about. You see, I've delegated all this stuff to Peter. I used to spend 500 hours a year, you know, on the web looking at, you know, I had files, looking at the artificial intelligence and everything else. And then I meet this guy. I read about him in the Wall Street Journal. I read his review of Abundance, the review of his paper book, Abundance. And I said, man, I said, this is fantastic what, you know, what he's saying here. And so when I got the chance to meet him, I mean, you have your own, you know, your own recollection of that meeting and what it did for you. But what it did is just save me 500 hours a year that he's out there every day. You know, all I have to do is, you know, you know, get him kind of clear, get him kind of focused, and I get his 500 hours. And it's a lot better stuff than I was getting. So anyway, and then Joe. I mean, the thing is, a lot of people have Rolodexes in whatever form they are today. And so I've just got one name in my Rolodex, and it's Joe. I said, I'd like to meet so and so, and it's done. So I've just delegated hundreds, thousands of hours to these two guys. You know what I mean? I'm just happy to be up on stage with these two guys working away. But here's the two mindsets that I think are crucial. One of them, and they're in short supply, I'm noticing in public life. One of them is gratitude. Gratitude. I think if you're really, really grateful, you create an abundance related to your past. That's really what gratitude is because it's. You're grateful for what has gotten you here. And gratitude is a proactive skill. A lot of people make it a reactive skill in the sense, well, if somebody does something for me, I'm grateful for that. But the word gratitude, being grateful is related to the word appreciation. How many of you say, well, I really appreciate. Appreciate that. And appreciation is a really neat word because it's got that emotional sense, psychological sense, but it's also got an economic sense that things appreciate. Gold appreciates, land appreciates, stocks appreciate, and what Appreciate.

Could we add bitcoin to your list?

Yeah. Bitcoin appreciates, you know, everything Peter's involved in and appreciates. I hope so, because I've got. He's got some of my money, you know, I want it all to appreciate.

I appreciate you.

Yeah, but what appreciation, what appreciation really means is that you just give value to something. In other words, you say, you know, there's qua, qua sitting right across from me. And I always appreciate qua. And, you know, and I really appreciate. You know, I just sit there and think. Think about qua for a half minute. And, you know, I totally appreciate Babs, as everyone knows. You know, without Babs, I'm just a smart drunk worried about the rent. And, you know, I just appreciate. And I think about the people. I appreciate so much what Peter does. And that creates a higher value for Peter in my life. So this gratitude principle is one of them. And the other one is generosity. If you truly believe in abundance, you'll Be generous with what you have, not worrying about how you're going to get paid back for it. So I think that the twin and they're related to each other, but one of them is related to the past. It's appreciation because you're giving greater value to your experience up to the present moment. And then generosity is that you're making a bet on the future. See, I'm making a total bet on the future with Peter that it's just going to get bigger and better in every way. And therefore anything that I contribute to that, I don't have to worry about what the return is, there's going to be a big return and I don't have to keep book on it. You know, I can't stay in keeping book on things. Things. So I see a lot of people who are super intelligent, but they're not grateful. I see people who are very successful, but they're not generous. And I said, you know, you've got all the, you got all the hardware, but you don't have any of the software. And you need the software to actually make your way in the world. And you won't have to worry about competing because there's going to be so many opportunities, but so many opportunities for collaboration.

Well, so what you're saying is there is a massive amount of capabilities that are every day becoming more readily available to everybody and it's a matter of doing something with it. Now, a lot of people, if they lack confidence, if they lack gratitude, they're not going to see the world through the lens of abundance. And you both are very much viewing the world that way. If someone does not have that perspective, what with all of these capabilities and all of these resources available to so many people still, not to some, but to so many people, what does someone need to do in order to, I guess, use profit from and be in a belief state that, you know, yeah, this is possible, the world is getting better and I'm playing devil's advocate here.

I guess read the book would be the answer, I think.

Read, read the book.

Well, see, that was a trick thing, of course. Read the book.

Yeah, I think actually, I mean, if you really want to help the world, buying 3, 4, 5, 6, 7 copies of the book actually is probably the best thing you can do.

No more than 10, it's limited.

There's a line there.

I mean, will they truly learn that from the book? Let's talk about what's. And I do want to talk about the other two, but we'll come back to that. What Will people really, really learn from abundance? I mean, how.

Well, I think there's a lot of different things, and I'll let. Peter's going to talk about innovation and things along those lines. And I think all that is very, very important. But to me, one of the things. I'll start with a really simple example. Over the course of this, writing this book, one of the things I did is I talked to most of the world's leading experts on water, for example, And I remember being on the phone with one of the world's leading experts on water, and we were talking about Africa. And he said, well, it doesn't really matter what you do, as long as you have to feed Sub Saharan Africa and they have to grow crops, you're never going to solve this problem, and they're just screwed. And I said, well, what about vertical farms? Vertical farms are an idea kind of dreamed up by a man named Dixon Despalmier. He teaches Columbia. And the idea is you move the farm from big, flat kind of expenses and put them into skyscrapers. Centralizes the problem. You can grow your food with 70% less water, 80% less pesticides. Pesticides.

Thank you.

I'd like to buy a noun. And he hadn't considered it at all. It was a new idea to him. And this was one of the things I encountered over and over and over again. So one of the things we do in this book is we provide a macroscopic perspective. We also show how solutions being developed over here overlay over here. This isn't really being talked a lot about. Experts these days are very, very specialized. They're very, very Balkanized. When you start looking at how these technologies overlay, Peter was talking earlier about Watson and AI technology that's making massive improvements in education. These are not overlaps that most people think about, but when you start to see, one of the things that we know is that all our problems are kind of nestled. Population is tied to water shortage, is tied to food scarcity, et cetera, et cetera. The flip side of that is that our solutions are similarly nestled. So once you start solving some of these problems, population is a really great example. Here's an absolutely intractable problem that has scared the hell out of people for a really long time.

It bothered you, too. I mean, when we started this book, one of the biggest issues was, I mean, we battled over population. Honestly, you were like, no, population's gonna be a huge problem.

And how he won that fight is he kind of bludgeoned me with data coming out of health care and Education and things like that. And what I started to realize very quickly is if you wanna drop population numbers drastically, the easiest way to do it is to raise child mortality. There's other things you can do.

Child mortality?

Yes. You need to kill more children. Excuse me, you need to lower child mortality. As child mortality drops, as healthcare improves, there's a direct correlation to population, and it drops precipitously and quickly. Within a generation, Morocco went from having eight babies per woman, roughly, to. To three. That's very, very fast. That's a massive decrease in population. It happened because infants were living longer, children were living longer, a number of other things. Liberating women helps a great deal. There are a couple other factors here. But what I started to realize is that the solutions are similarly nestled. And it wasn't just I was looking at, oh my God, we've got population here and water here. No, no, they're all really tightly woven together. And the experts I was talking to actually had no idea. So one of the things that we're looking at in this book is how do all these things mesh together in a really, really big way?

Another force that we talk about in the book is the techno philanthropist. So today, more than ever, there is a huge amount of wealth that's been created from people in the technological arena. You know, the proverbial Steve Jobs, Bill Gates and so forth. But unlike the robber barons of 100 years ago, who would spend their money building buildings or institutions, a lot of the techno philanthropists today and the ones that we speak to have created their wealth. And their goal is to solve world's grand challenges. They want to destroy diseases or change the issues around water or food, whatever it might be. And so there is a huge amount of capital available to focus on creating a world of abundance. So that is a force. It's independent of governments, independent of political cycles. It's people who say, I see a problem and I'm dedicating my capital and my career to getting rid of it. So a point in case is Bill Gates and malaria.

And Jeff Skoll is another great example of this. These are not. You know, Andrew Carnegie built a lot of libraries. He built 2,500 libraries. A fantastic thing. Jeff Skoll is going after nuclear weapons. There's a difference in scale here. And unlike the Robert barons of old, it's not just that people are throwing their money at the problem. That's one way of solving the problems. And, you know, it made it down. These people are getting actively involved. Bill Gates, the guy who built Microsoft, is now Putting his brain, his talent, his minions also on these problems, it's no longer, you know, I write the check and then I'm done. Now it's I write the check. And that's just the beginning.

Oh, yeah.

I mean, I was just at the Gates foundation three weeks ago, their annual event. And the people there, the entrepreneurs there, the resources, it's unbelievably amazing what they are actually doing.

Bill and Melinda, one of the big things that I'm shocked how people don't get that the world's biggest problems are the world's biggest opportunities.

Yes, yes.

You want to make a trillion dollars, solve health care, education, hunger. I mean, these are trillion dollar markets. Yeah, I'd like to.

I really want to go deep with that because I do believe that I have a friend named Richard Rossi who has this great line where he says, wherever there's anxiety, there's opportunity. And if you think about entrepreneurs, quote another friend, Dan Sullivan, he says, other people's bad news is your good news.

Especially if you sell Prozac.

Well, if you sell anything, I mean, if you're hungry, that's bad, bad news. If you're a restaurant, that's great. If you're bored and that's bad news for you. But if you are a movie theater, that's good news. Everything in life is literally helping people with their bad news. Sometimes it's simple things, other times it's incredibly. It could be a fatal condition, it could be starvation. So what you just said, I'd really like you to speak to that.

So a great example is we're here filming this at Singularity University. And, and we challenge the students here to create what we call 10 to the ninth plus companies, which is build a company, a product or service that can possibly affect a billion people within a decade. And what we teach them about is what are the world's grand challenges? Where are the biggest problems that exist? Because that's where you should be building these companies. And it's. And we're in a day and age now where you can do great for the world and create incredible profits. You know, Dean Kamen, who's a close friend, he's a trustee at the X Prize, we write about him extensively. In the book, you know, he talks about the fact that people would dismiss water as an area in the world that companies should be involved with, because, my God, these people only have, you know, 50 cents a day they can spend on water. But if you've got 2 billion people spending 50 cents a day, you do the math real Quick, that's almost a half a trillion dollar marketplace. There are very few companies on the planet that can ignore a half a trillion dollar marketplace. Right?

Well, there's no. And like you say in the book, there's no companies that even make that level of revenue. So there's a gigantic market there. It's a single piece.

And he says, you know, is there a need? There's a need for water.

Yeah, there always. Exactly. You know, who do you guys want to be a hero to? I mean, there's a lot of different people in the world. There's lots of organizations.

So our goal, at least my goal, and I want to speak for you, but, is to change the conversation in the world. You know, there's a conversation that's going on that we're screwed, that the world is getting worse. The world for my children is going to be worse in the world. I'm done with that. I'm done. That is patently false. That is the world that the news media is feeding to us nonstop. Because that's the way the news media catches our attention, by this constant pervasive pessimism that is just, you know, puttingit' sit's a real downer. But the fact of the matter is that the world is getting better at an extraordinary rate. And this book is about showing people, first of all, why they're immune to the good news, and then what the good news is and creating a world that they can help be part of. Creating. In other words, you can now stop complaining about a problem and start solving it. You're empowered as individuals and entrepreneurs. We are now empowered more than any time in history, in fact, more than governments and large corporations were in the past to go and solve a problem. So what? What do you care about solving? Go solve it.

Right?

I have a dear friend named Dan Sullivan who is a brilliant guy, and he says you can either create or you can complain. You can't do both. And there are creators and there are complainers. And the bottom line is when someone reads Abundance, I think it will do immense amounts first in just their perspective and their attitude. It's a great energy charger. And, and I think there's, you know, if you want to make impact in the world, you deal with people that are energy chargers, not energy drainers, because some people, no matter what, are going to look for the negative things, and those are not the people that I think may per se resonate with this. But I believe, if you have any sort of belief that the world sucks or there's no opportunities Read abundance because for one, it'll give you an instant attitude, perspective and change. And secondly, it'll give you a roadmap. So I mean, really, what will someone get out of this book other than discovering all kinds of fascinating things about technology and about resources and about just innovations? I mean, really, what will someone be equipped with once they literally read the entire book and go through it? Because I think it's more than just a book here.

I mean, on a certain level, the answer to that question is a little silly, but the answer to what will they get? Hope, which is a humans, we're hope junkies. You can't go forward without that. It doesn't work. You can't change the world if you don't believe it's changeable. Can't do any of those things. You know, this is an incredibly well researched book. I can't tell you how many hundreds and hundreds and hundreds of top experts that we interviewed for it. There's a 90 page reference section at the back so you can see all of our data. We're really, not only are we saying the world is getting better, we're laying out a very, very, very, very easy to digest factual case for it that pretty much anybody you know reading the book is going to come to. It's not like there's secret data here. We just, you know, so it's that in and of itself seems to me, you know, one of the greatest things that's coming out of this book. It was just a terrible answer.

No, it was, it was actually.

But it's heartfelt and truthful. And then we also in the book talk about how to drive breakthroughs. There are a few chapters on the use of incentive competitions, the use of approaches to allow in your organization for you to take bigger risks and create an innovation culture, which is a critical part of this. And ultimately you can find out how a. You can explain to your friends and family where the world is going, but most importantly, you can figure out where you want to get involved.

Right.

You can figure out what change you want to create in the world.

I think what you just said too, what I think is really important is whenever you find yourself in a conversation with naysayers and where people that just really want to complain about how bad things are, I think you will be absolutely equipped having read the book with really knowing that the world is in the greatest state it's ever been in, the opportunities are endless. The amount of people that are out there doing good things is huge and growing. Yeah. And you guys are catalysts to that. And one thing I will say as a plug for Singularity University, I'm only two days into Singularity University, the executive program here. And it is absolutely mind blowing. I mean, I hang around a lot of smart people. I've read over a thousand books, I'm pretty good in a couple of areas of business. And just my perspective on things has been massively shifted in just a couple of days.

You got five days ahead there, that's my point.

I even made a couple phone calls to some real dear friends. I even had a text back and forth with Tim Ferriss, who's the author of the Four Hour Workweek and the Four Hour Body. And he's like, there are some smart bleep bleep people at Singularity University. And I was like, yeah, no shit there are. And so Basically, check out singularityyou.org and get the book Abundance. You can get it anywhere. Go on Amazon and get yourself a copy of Abundance.

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. We now sequence your human genome and you get information on a digital stream, right? 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 not, the 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. 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. 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 of them other test tubes totally empty. They go, we're saved. We're saved. And so theology 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 a new standard, it was too late. So my question is, are you noticing other technologies out there that are an 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, right? 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. Or 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 Maasai 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 six Ds 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, 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 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. It's. 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 legal 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, a 10 RP. It's generating 750 megabytes of data per second. So you can see what the computer is seeing. Right? 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, 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 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 if I, 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. And 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 around 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 quarter million dollars, we're talking about quarter 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's becoming digitized and you can print it out. So this is a polygon within a polygon within a polygon polygon that's been 3D printed. 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. 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 additively manufacture. This is a future of 3D printing homes. Here's a thousand 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, you know, just fun because it's a mom and pop industry is the whole jewelry industry. Right. This is the gearing that you print. And 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. You know, I need some more calcium in my diet. Great. I'm going to up that instead of 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 recycle them and you 3D print a new design or you're going out for 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 is 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? You know, I give keynotes to manufacturing companies that are old style manufacturing 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 going to talk into your AI and say, can you make it a little bit rounder and stretch it out here? 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 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 biologics. We're now. 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? And so 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? It's like, 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. Here's another one. How do you get people to exercise? It's. 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 counter. 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 that 100,000 people in their workforce, I'm saying, yet 100,000 people, 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? Will 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 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 5 cents 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 have no 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 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 I 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 the In Bangladesh, the 3,000 villagers. This was a rap music star, created a. 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. 99 design designs. It's 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 Tongle 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, 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 Tongle 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 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 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'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 do you. 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. The 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 Micigowski is a guy. I won't go into the story in detail. I only got a minute left. Eric is a guy who. 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. All of these powerful technologies are coming down the pike, and all of these exponential tools that you can use. 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.