Patents rarely make headlines, but they did this month when Nortel Networks Corp., the defunct Canadian telecommunications giant, auctioned off its patent portfolio and drew an astonishing winning bid of $4.5 billion from a group of companies that includes both Apple Inc. and Microsoft Corp.
Oct. 15 (Bloomberg) -- Bloomberg's Trish Regan visits Nathan Myhrvold, founder of Intellectual Ventures, and a semi-professional chef with a penchant for experimenting in the kitchen. Myhrvold appears as a part of Bloomberg Pursuits, airing on Monday, October 15 at 9PM on Bloomberg Television. (Source: Bloomberg)
As we lurch from one high-stakes political drama to another, it is natural to wonder why societies aren’t better at avoiding self-inflicted crises. Here in the U.S. earlier this month, the government barely dodged default, even though economists reached consensus months ago on when the debt limit would need to be raised.
One reason “dismal science” aptly describes economics is that it so often winds up in a zero-sum trade-off of diminishing returns. That gets depressing when the global economy is in a sorry state, as it is now.
Complacency is baked into our species. We can’t resist thinking that recent experience defines the future. Give us a run of good luck, and we are apt to turn that into an implicit expectation that our luck will continue -- even that we are entitled to it.
A remarkable thing happened in Silicon Valley during the past decade. Venture capitalists and entrepreneurs set their sights on clean energy as the Next Big Thing. They audaciously hoped to reinvent energy by harnessing the incredible innovation that had transformed information technology and biotechnology.