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[Table] I am Peter Diamandis, founder of XPRIZE, Singularity University, and co-author of NYT best-seller Abundance. AMA!

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Date: 2013-10-17
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We are building the framework for that Meta-Intelligence, it's called Bliss and uses impact as a currency. A techno-telepathy is one of the many forecasted beneficial outcomes of an impact based economy. When people ask me "What problem does it solve?", the easy answer is "all of them". Cool.
I know a handful of smart, motivated people who are interested in working to advance science and technology (specifically space exploration, neuroscience, and probably a couple other areas), but are only semi-technical, and don’t really have a chance of working directly for a company in the field. How can people in this situation make meaningful contributions to the science/tech fields they consider important? One of our ideas is to generate enough disposable income that we can afford to make investments in new companies that are doing important things, but might be too risky to appeal to traditional angel/VC investors. Is there something better that we should be considering? It takes ALL kinds to make any business happen. Alot of the most brilliant "tech" people don't have the social skills of a 10 year old... so they need help. The massively connect world we are creating allowing teams to come together. I blog on this thru www.diamandis.com all the time. I think we have alot of ability for people to "team up" and complement their skills.
Hi Peter. Hypothetically, if there were an enormous X Prize, more on the order of $100 million, what kind of goal would it be for? I think we'll eventually see $100M XPRIZEs coming... We SHOULD have them in the field of Cancer. We typically tie the purse size either to (i) Level of importance the donor gives to the issue; or, (ii) the amount of money a team would probably end up spending.
To me, the world seems overpopulated. Would you ever consider a prize for some kind of population control (e.g. incentives not to procreate, easy/quick/cheap voluntary sterilization, and just overall better family planning services)? GREAT Question -- the answer is much simplier. The biggest inhibitor to procreation is making a population Wealth, Healthy and educated. Those like the U.S. and Japan are in negative growth. As i write about in detail in Abundance (hint hint) Over population is not an issue in a world of Abundance. Morocco is a great case studie... went from 7.8 childen per family to 2.8 per family when the new King &Queen improved health and education in the country. it is an elegant solution.
Thank you so much for doing this talk and congratulations on your PopMech Breakthrough Leadership Award! Thanks for the Congrats! I get my award this Tuesday in NYC from PopMech.
Do you think the government will continue to have a role funding science and tech? Or do you think the private sector will take the lead, much like it has in the space industry? I am massively excited about Crowd Funding, which is growing exponentially. I'm also excited about the new generation of "Techno-philanthropists" folks who made their billions in the Tech areana and now want to have a massive impact on the world. I would LOVE to have the government do more, but unfortunately the most interesting work is the riskiest work and alot of agencies aren't funding that risk. DARPA of course being one of the noted exceptions. I think we need to get to a point where 50% of the work being funded by NIH, NASA, etc is for "HIGHLY RISKY WORK"... That would be my hope and desire. Until that happens i'll depend on amazing companies like Google and SpaceX to do this stuff... oh yeah, and XPRIZE and Planetary Resources too.
That was indeed a longer wall of text than it should have been. :) What sort of changes will near-unlimited production potential have on the current global economic paradigms? When the Singularity does happen, will new options open up in terms of human freedom, or are there too many factors working against freedom for the masses to live as they want? (IOW: is a universal basic income ever going to be a thing?) Brain-computer-interfaces. Currently studying CS and trying to focus on the software side of BCIs. Do you think BCIs are the next big thing in technology? (1) It will drive massive competition and diversity, eventual demonetizing almost everything.; (2) I think we will go from "Occupation" where we do stuff to earn a living, to "Occupation" where we occupy our time in ways we love and entertain us; (3) I thing BCI is big, but another decade out... We need to learn more about the brain first and need better models and material science... but it is coming and will be critical.
Dr. Diamandis, thank you so much for this AMA. How should they go about in terms of presenting their ideas to investors, or looking for funding & resources? Thanks for the question... i actually blog about this constantly at www.Diamandis.com -- my next book BOLD is on this subject, advice for Enterprenerus. You can also follow my twitter exploits: #PeterDiamandis. Bottom line YES, there is great opportunity for you to partner with Tech-folks. Most critical step for you is focusing on your passion and becoming knowledgable and curious on that subject.
Do you regret withdrawing the genetic prize? Couldn't it be argued that significant progress was partially spurred on by the prize so it was doing what it should have? You said about the genetics prize that it was good sign when X prize failed. Other than that example, what was the x-prize's biggest failure to date? There has been significant consolidation recently in the prize industry (IC, TopCoder and Spigit all acquired or merged). Where do you see the prize industry in 5 years? Great question. This was a VERY difficult decision, one in which took alot of internal conversation and guidance from our advisors. I was told by a number of the teams that the existence of the prize did spur movement, but what we also saw was the acceleration of genome sequencing at an accelerated rate independent of the prize.. taking it from $100M to under $5K (now about $2K). Driven by a billion-dollar market place. we decided that the competition was not incentivizing the technological changes that our prize chair and Scientific Advisory Board had intended. Clearly we could always be wrong. Our goal here is doing the right thing for the world. We have no other intension. Time will tell.
Hello Mr. Diamandis. My name is B.J. Murphy, I've been following closely on your excellent G+ posts in relation to your upcoming book, and I'm also one of the few lucky to becoming a member of the newly formed Planetary Community Vanguard of your company Planetary Resources. No pressure. haha My question to you, though, is: what exactly do you feel will be the greatest contribution in the next 4-5 decades in regards to both Earth-domestic technological advancements and in space exploration/colonization? Over the next 30 - 40 years (not 40 - 50) humanity will establish itself in space, independent of Earth. We finally have the technology at hand to do this... and the wealth... and the will. That is HUGE. Millions of years from now, as people look back at these next few decades, it will be the moment in time that we broke away irriversibly and became a multiplanetary species. Not since lung fish cralwed out of the oceans onto land has this happened!
If you get to mine asteroids in space, would you go on one of the missions? I have every expectation that we will be mining asteroids well within the next decade. While I have every personal desire to make a trip to the moon, and also to the surface of Mars, heading out to an asteroid 100 million plus miles away doesn’t sound like a fun adventure. I think I’ll let the robots take care of that one.
We at the Weinberg Foundation are real fans of your work - inducement prizes are such a fantastic way to provoke innovation. We are followers of Alvin Weinberg, the American physicist and Oak Ridge laboratory director. We believe there is a new way for nuclear power by switching from light water reactors to a safer, cleaner and cheaper paradigm - that of Thorium-fuelled molten salt reactors. Would you consider doing an XPRIZE to address the market failure in nuclear innovation with us? I think Thorium reactors are great. I've read about them at some length. As i discuss in Abundance, i think Nuclear has gotten a bum rap on Earth, especially in the U.S. The question i would have is "What would the XPRIZE be for?" An XP is something that a small team for a few dozen graduate students can fund, design, build and demonstrate.
It feels to me that humanity seems to be approaching a critical point. As you talk about in Abundance, there are a lot of technologies that are maturing now that offer a lot of promise for humanity's future. Yet at the same time, we see that our unsustainable use of existing resources, combined with our excessive pollutiuon, is catching up with us fast. It doesn't seem possible at this point to find a sustainable means to support the current population of the planet, and attempting to do so would likely result both in significant loss of life, and reduction in quality of life for those that survive. So, to put it simply, our only way through the situation is to work at developing these new technologies to help us before our bad choices catch up. Do you feel that our potential to reach a future of abundance faces significant threats from these sorts of negative factors? (environmental damage and resource depletion, and the unrest that has potential to ferment in such conditions) Are there any areas that you feel need critical attention to avoid derailing a successful future? I actually am an optomist about human nature and people usually do "bad things" in the shadows. As tech continues to drive towards MASSIVE Transparency, where you can't hide, it will actually cause us to be safer in society and allow us to take action more quickly when things are heading in a negaive direction. Knowledge is the Bright light we need.
I dream of working for XPRIZE Foundation on day. What kind of skills are you looking for? We are look for SMART, PASSION, CURIOUS and great program managers. We are Growing... probably by 50% this next year.
How will the Lunar Xprize help foster spaceflight? Do you think any team is going to make it there? Thanks! Yes, i think we can have a winner of the Google Lunar XPRIZE (GLXP). Ultimately the purpose for GLXP is to help create a space ecomomy beyond Low and Geo Earth orbit. On the moon we have access to water (H2 & O2), i.e. fuel, and very useful materials. My friend and mentor Gerard K O'Neil taught me how useful the Moon is as jumping point for humanity to become a multiplanetary species.
Dr. Diamandis, thank you doing this AMA. What do you think of D-Wave's quantum computer? What do you think will the consequences be for the future of humanity if it keeps speeding up as expected? I think D-Wave's machines a very remarkable. What i've heard about them are extraordinary. My friends at Google & NASA Ames just purchased their latest 512 qbit model to start experimenting. Can't wait to see what they do.
How will the US Government be disrupted and what will it look like in 20 years? Large government don't disrupt gracefully... that is a problem. SO how will our Patent (IP) System look when the number of inventions increase x1000? What will happen to social security when human lifespan is >120. These things will happen and they will cause some havock. I think we are going to end up with alot of "parallel" non-gov systems providing more efficient services in virtual worlds and by public general adoption.
If you could have an X Prize for absolutely anything, what would it be? My XPRIZE??? Hmmm... I love the idea of BEAM POWER LAUNCH... power a rocket ship to orbit using RF or Lasers. I LOVE the idea of a "Transporter XPRIZE" to move people with an autonomous electric helicopter from Point A to Point B. Also i would love to live >500 years.. so life extension is a must!
If you could add anyone as an advisor to the X Prize Foundation, Singularity University, or Planetary Resources who would it be and why? Honestly (and i'm very proud of this) i think we have them onbaord already! What i want next is to tap into the global crowd and start doing GLOBAL VISIONEERING where we ask the world what they want, have them design the prize and then fund those prizes... this is in process.
We're seeing exponential technologies quickly being incorporated into the job market. Software, AI, robotics provide unprecedented possibilities for automation: We're seeing machines demonstrate capabilities they've never ever had before. As a result of automation, one could argue that wealth is being concentrated more and more toward the people who own the automation. Fewer and fewer people need to be employed while productivity is continuing to increase at an incredible rate. What do we do about the fact that robots/AI/software are taking human jobs at an ever increasing rate? Would you support a minimum basic income? We're heading from a world of "Have" and "Have-nots" to a world of "Haves" and "Super-haves". I think the final result of technology is a sort of "Technology-socialism" where tech is handling our basic needs... now i'm personally a libertarian-capitalist by nature.
As we move towards a world of abundance and greater connectivity, do you see us abandoning cities in favor of a more decentralized rural life? I think that we are social creatures and like handing out. I thing we may move towards smaller cities, but most of us will want to be in some populatoin centers. I do think that the biggest impact here willbe virtual worlds with very high (think "Avatar the movie") level realism which is coming ver soon.
With initiatives like Bitgov and The Online Party of Canada, when will we see the shift to digital direct democracy take root? I would love to see a "true democracty" evolve, but i fear that this won't happen gracefully for larger nations... and will likely happen in smaller governments or off world.
A year ago someone brought up the question of abundance and its implication on labor. As technology takes over more complex tasks (via automation) less labor is needed. However, if we reach a critical point where labor needs decrease dramatically there is no economic population to purchase the output (as they would have no jobs). While total "abundance" is perhaps unreachable there has to be a tipping point where labor markets and automation balance each other out. Would you mind commenting on this concept, its implications and perhaps limitations? Thank You. GREAT question... There is a race to the bottom. What you say above is true. It is also true that were we spend our money... Health, education, energy etc is "Demonetizing" i.e. tech is making it effectively FREE, so we will need less money. ALSO, and ultimately we will partner with technology. I'm an engineer and i look at boundary conditions... the final result is nanotech.. and if i have a nanobot, i don't need any money.
Hi Peter. What is your opinion on crypto-currencies like bitcoin? I believe that we're going to have some new global currencies coming into existance this next decade. Whether or not bit-coin will succeed and dominate is tbd, but the easy and need is clearly there.
Hey Peter! Where do you think humanity will be in the year 2113?? A hundred years is an extraordinarily long horizon to predict, especially since the rate of innovation is accelerating. I believe that in a hundred years society will look nothing like it does today, we will be engineering life in fundamentally new ways. We will have expanded far beyond the earth’s surface, beyond the moon and mars; we will have co-evolved with robots and AI in unique ways that we cannot predict.
of all, I just wanted to tell you that becoming a part of SEDS completely changed my life, and for that I thank you. Now on to my question: Your photo on your Wikipedia article depicts you flying in Microgravity, however it doesn't appear to be Zero-G Corp's 727. I've always wondered, what plane was this? It has so much space! GREAT Observation... that photos is in the IL-76 the Russian cargo plane used for Zero-G flights in Star City -- this was the first time i flew in Zero-G... and this was before i was able to convince the FAA to allow us to do Zero-G legally in the US. BTW, SEDS ROCKS... Its where i learned everything i know use in business.. Students FOr the Exploration and Development of Space -- Go SEDS!
Hey Peter, I have a bit of a hypothetical for you. If we (humanity) discovered that some form of faster than light travel were possible (via small scale lab experiments or what have you), and it was at least conceivable to be scaled up (as apposed to a method that would require unobtainable amounts of energy), how quickly do you think we would jump on that opportunity? Do you think there would be a "explosion" of efforts? or would it be more likely that the funding would be unimpressive? Interesting question. The similar situation exists today with Cold Fusion... or zero-point energy. I have alot of incredbility brilliant friends who swear that it is real. Why isn't there more money being spent to figure that out? Because there's still a big controversy. It has to get to super credible and then he money will pour in...
Is the X Prize working out financially for the organizers and would you encourage people in other countries outside of USA to start similar organizations ??? The XPRIZE is a non-profit, so there's not a financial measure of benefit to the organizers. There is a benefit to humanity that the effort is working. What i can say is that we are opening XPRIZE India next spring, so i'm excited about that and are working with benefactors and companies around the world. I do believe (expect, hope) others will emulate us in success... we're also willing to partner with those who are serious players.
1) What role do you think resource reclamation and re-utilisation will play? Do we need to focus on utilising our resources more as if they were part of a closed system or as an open system subsidised by offworld resources? Should there be an XPRIZE which seeks to enhance our processes and technology to reuse and reclaim our terrestrial resources? 2) Looking further towards the future, what role should "resource synthesis", either natural or artificial play? For example, Helium-3 via radioactive decay or precious metals via particle accelerators and/or irradiation. Should we be headed in a direction of exploring ways to safely and affordably CREATE resources in quantities sufficient for commercial usage? Should there be an XPRIZE that moves us towards this goal? As humanity goes from 1,8 billion poeple connected on line to 7B plus over the next 10-15 years we are going to need all the resources we can get our hands on... so yes, of course using terrestrial resources and using them efficiently is critical... space base resources for use in space will also allow us to expland our footprint and i expect some of he SBR will be useful back here too.
As abundance becomes the standard, what do you see happening to the value of money? Would there be a new currency such as Time, Materials, or Ideas or would we just continue to use some sort of common denomination to pay for goods and services? I answered a similar question. The end result of technology is "technological socialism" where our basic needs are being met by Tech. I do think we will be re-inventing the economy (or what ever that means) and will end up where energy and information are the two most precious resources.
What mundane day to day thing on earth would you miss if you decided to live in space and eventually Mars? I think i'd miss ALOT about Earth... but definitely not the LA Traffic. Its all about choice. Peter's second law: When given a choice take both.
Do you have any cool news regarding innovation in Agriculture? Agriculture Innovation is Urban/Vertical Farming and re-engineering plants to make them more efficient and produce the proteins we need/want.
How long did it take you to paint the space mural in your room at TDC? That's funny. The mural in my room in TDC is actuall wall paper that i purchase and put up. My nickname at TDC was "Pete In Space" -- which often got reduce to PIS... and for that reason my room was named the Urinal, because PIS lives there. I wanted to call it the Galactic Empire... but i lost :-(
Our financial system and economic thinking is based on scarcity, but you and others argue there is in fact an abundance of resources. As technology unlocks more resources (where yesterday we used oil/gas for energy, now we look to renewable energy sources, etc.) do you see any structural changes to the global financial system? Michael, we are heading towards a massive chance in our economic system. When most everything you need is "effectively free" what does that mean? How does that work? Probably looking a bit like the Star Trek universe when your replicator can create any material thing you want. Ultimately (i) Energy and (ii) information will be the two critical currencies.
Thanks for doing this AMA. What have you competed in and lost, and what have you learned from that? I have started about 15 companies over the last few decades and a number of those have been spectacular failures and some of been great successes. In the failures there’s one in particular that comes to mind, it was a company called International Microspace, which was focused on building very low cost launch vehicles. The original vision was a launch vehicle that could take 100 kilograms to orbit for 1 million dollars. When we launched that company it was an impossible goal and because the nearest money available was from the defense department we started chasing DOD contracts which wanted a launch vehicle that looked much larger and met all the DOD requirements which meant it was going to be much more expensive. Ultimately we ended up building that vehicle and winning $100 million contract from the government, but the vehicle never got built and was never launched. I learned to really stay true to your visions and not go chasing someone else’s requirements because if you do you’ll end looking like everyone else.
Hey Peter, Sorry to flatter, but I was a student at a talk you gave via Skype to the UK Space Conference. That talk is what persuaded me to become an entrepreneur.. Anyway my question: With the work of Planetary Resources focusing on unmanned exploitation of asteroids, what economic roles do you see manned space travel fulfilling in the solar system in the near future? Hi there. Thanks! I think human participation is critical. Its about expanding humanity and civiliation and culture. We humans are the carriers of culture. Also i think people want to explore... we have an "Exploration Gene phenotype" so pure desire and adventure.
Hi Peter, last year Chris Lewicki from Planetary Resources participated in a feasibility study regarding NASA's planned Asteroid Retrieval and Utilization mission. Are you content with the involvement of the private sector so far? How do you think is the Asteroid Initiative going to shape the future of Planetary Resources or private spaceflight in general? I'm super psyched about the progress of PRI. We've got an incredible team and we're going to be making it happen. I hope that the government (NASA) will have the insight to partner and inspire entrepreneurial companies. The deal they got by backing SpaceX has been extraordinary... probably saved them 10X the $$ and wouldn't have never gotten the results from contracting with a traditional player.
Dr. Diamandis, first of all thanks for taking these questions! Your work and specifically your book Abundance has helped inspire my young career in government/policy. My motivation is to allow entrepreneurs who create these solutions to actually implement then by having a government that empowers them and doesn't stop then through unnecessary regulations. What is your take on the governments role in a 21st century world? Great question. I believe it is going to be changing alot. Many of our government policies, procedures, laws were designed for the 1800's and how we're going to deal with the explosive growth of Tech and its empowerment of individuals is going to be "interesting" at best. I honestly wondering this question myself!
When will we be able to install software on our brains? Technically now. There are implants for various neuro-related diseases that are software driven. But what you mean, more like BCI related work, i think we'll start with the first real efforts within 10 years and then have "Google On the Brain" as an app inside of 20.
Peter - Thank you for all of your inspiring work. I am a professional engineer with a good job, loving family and I am very blessed. I also am an inventor so many ideas to that can make the world a better place. I, like so many, lack the financial resources (and the time) to transform these ideas into reality. The XPRIZE model is wonderful, but it doesn't help with the seed money to be able to compete. My question is: can you recommend or are you aware of non-conventional ways to raise capital outside of banks, angel investors and venture capitalists? I understand what you mean. Luckily there is a solution in crowd funding. If you look at the availability of $$ from Kickstarter, INdieGoGo, RocketHub, etc it is growing exponentially. $2.8B in 2012 growing to $15B in 2015. There is natural tie here that is very exciting where the public funds the teams solving the problems of greatest interest to them.
How near is the Singularity? That is a question that I really don’t think about while my good friend, business partner, and XPRIZE trustee Ray Kurzweil can give you his answer, which I believe is within the next 30 years or so. I’m personally not focused on “The Singularity,” I’m more focused on the transformation of humanity into a world of abundance where people have their basic needs be met. So I’m also focused more on the next 2-10 years and how technology is transforming the ability of an entrepreneur to solve the world’s grand challenges and changing the fabric of society. I think most people don’t realize how powerful the changes coming this decade will be.
Hello Peter, glad to join the conversation (once again). Many thanks to engage with the crowd despite your packed schedule. Thanks a lot, and best regards Ralf. Ralf, great to hear from you. thank you for all of your continued help promoting my work! You are awesome. Marissa sends here best.
We have just started a science art prize to encourage scientists in the nano- and bio-tech field (as this is strong here in Dresden) in order to give scientists a way to express their research findings in new, and disruptive ways while working together with an artist on a project. My question: what advice do you have to accelerate the process of engagement of scientists & artists to bring innovations to the public (through a new vehicle: art)? I think the XPRIZE is my solution to your question... Also XPRIZE is working on a new platform called HeroX to help take what XPRIZE does to massive scale.
IPhone or Droid? What app can't you live without? For me, the answer is Android. While I love the design and beauty of the iPhone, I am very much an “open source kind of guy.” I think in the final result open source will trump any closed ecosystem and I think ultimately android will outpace and outstrip anything that the apple universe can create. Regarding apps I can’t live without, I probably would have to answer my navigation applications since my personal ability to navigate is limited to up and down! I have zero sense of direction. And in a world of Google maps, I appear to be much smarter than I actually am.
If you could magically solve one problem with the Ocean tomorrow, what would it be and why? I think there are two problems that I’m concerned about – one is acidification, which is why we launched the Wendy Schmidt Ocean Health XPRIZE, and the second is the depletion of various large fish from our oceans. I am a scuba diver and I love exploring the beauty of this magical underwater world, and the notion that my kids will not have access to that beauty concerns me greatly. I think that awareness, access to real measureable data and the intelligent use of technology is the lever we have to make a difference and we at the XPRIZE intend to use this to solve these problems to the greatest degree we can.
What field needs to be disrupted next? I think the world of healthcare and education are massively ripe for disruption and if left on their own will collapse. But I hope through the work at the XPRIZE and Singularity University, we can accelerate this process. My dad recently went through our healthcare system and it scared the living daylights out of me. How could it be so bad? How can it be so confusing? How can it be so impersonal? I think that technology and entrepreneurs will reinvent this field causing many of the large giants to become disrupted in this next decade. Also, because I have two toddlers at home, I think about how they will be educated, how they will learn. Again, I think that our current education system was designed for the last century and there are much better ways to enable our children to learn what is important in society today.
Are you preparing an XPRIZE realated to 3D printing? Great idea. I'd love to. I'm a huge of 3D (digital printing) but don't have an XPRIZE there. 3D is more a solution than a challenge. We've thought a Rapid Home contruction XPRIZE for post disaster or poor nations.. 3Dp could play a role here.
Loved your book Abundance. Really put the my mind in the state that it needs to be to make big things happen. In the next 3-5 years, what is one project you would like to see XPRIZE go after? Thank you. In the next 3 - 5 years we're doing a lot of fun and important prizes. I want to disrupt our educatoin system and healthcare system for one. They are both massively broken and need revitalization. I would love to do an Earthquake predicition xprize and an organogensis xprize.
Hey Peter, thx for doing the AMA! My question: How can we organize economy in a world in which machines do all the work and how can we avoid people degenerating to stupid and bored individuals without a purpose in this world?! The first part is going to look more like star trek. I think the second part is going to result as we merge with technology and increase our congnitive and physical ability.
Peter, you've obviously thought a lot about various global issues facing us throughout the years. So what is humanity's grandest challenge? Ultimately I think humanity’s grandest challenge is the transformation we’re going to undergo over the next 30 years as technology begins to transform how we live every aspect of our life, what it means to be human and even the very nature of the fabric of society. I don’t know what the answer is, but we’re going to begin to co-evolve with technology in some unique fashions which will scare a lot of people but also relieve a lot of suffering. So our grandest challenge is the evolutionary process that we are now entering that will accelerate over the next three decades.
What are the advantages of a privatized future-tech industry, as opposed to gov't funded? Like SpaceX vs NASA.. Seems that if the US gov't is going to pay for the ships to get to the ISS through a contract with SpaceX, wouldn't it be more economical (in the long run) to just invest more in its own space-agency? Government is not about efficiency. Private industry is. Ultimately government (NASA) should be more like DAPRA, setting goals, prizes, etc and incentivizing private industry to do it faster, cheaper and better.
Last updated: 2013-10-21 18:17 UTC
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