Three Steps to Becoming an Exponential Entrepreneur, with Steven Kotler
The co-author of "Bold: How to Go Big, Create Wealth and Impact the World" discusses the 6 D's of exponential entrepreneurship while explaining how advanced technologies, psychological tools, and crowd-access strategies help exponential entrepreneurs get a leg up over their competition.
Steven Kotler is an award-winning journalist, a New York Times bestselling author, and executive director of Flow Research Collective. His books include the non-fiction works The Rise of Superman, Abundance, A Small Furry Prayer, West of Jesus, and the novel The Angle Quickest for Flight. His works have been translated into over 30 languages. His articles have appeared in over 60 publications, including The Atlantic Monthly, Wired, GQ, Popular Science, and Discover.
His latest book, co-authored with tech CEO Peter Diamandis, is Bold: How to Go Big, Create Wealth and Impact the World.
Steven Kotler: An exponential entrepreneur is an entrepreneur who is leaning on exponentially accelerating technology — so network sensors, AI, robotics, synthetic biology, 3D printing — these technologies that are all on exponential growth curves. They’re also relying on what we call exponential psychological tools, right. These are ways to think at scale, flow states, things along those lines. Things that let entrepreneurs to scale up their mental game like never before. And finally they’re also using exponential crowd-power tools. These are crowdsourcing, crowdfunding, incentive prizes and community building, right, that let entrepreneurs get access to capital, get access to expertise, really scale up their reach farther than ever before, right. So an exponential entrepreneur is people who are using these three kind of categories to level up.
If you want to be an exponential entrepreneur and you want to play with exponential technology, you need to understand the kind of growth cycle that exponential technologies go on. And we use something call the six D's to talk about this, right. The first D is digitalization, right. A technology becomes exponential once it becomes digitalized. It becomes represented in ones and zeroes. Once that happens, right, it becomes an information-based technology and it hops on an exponential growth curve, right. A classic example being Moore’s laws covering transitions. But now we’re seeing in all of these technologies; we’re seeing in synthetic biology once we realized that DNA was essentially, could be represented as a binary code, right. It hopped on this exponential growth curve and now synthetic biology is accelerating five times the speed of Moore’s law. That’s the first D. And when that happens, there’s usually a lot of excitement. A lot of hype, a lot of excitement, which is unfortunate because the second D is deception.
What happens is these technologies get introduced and it takes a while for them to get up to speed, right. And there’s all this hype in the beginning and they fall into this deceptive period and people kind of dismiss them. 3D printing was in that deceptive period for a very, very long time. Robotics, AI, all these things. But all of the technologies that we’re talking about in bold are now moving out of that deceptive period, right. What Gardner and the Gardner hype cycle calls the "trough of disillusionment," which I think is a great term, right. They’re all leaving that trough of disillusionment. What happens next is they become very, very, very disruptive, right. A classic example is Uber. It’s totally disrupting the taxicab industry. Instagram totally disrupting Kodak. These are classic examples of the disruption. After they move out of this disruptive phase, you look at demonetization. This means that the cost of the technology itself is dropping and dropping and dropping.
The money comes out of the equation. So, for example, once you could store digital images on a camera, right, film was totally demonetized. And suddenly nobody was buying roll film anymore. Pixels did the same job. So the money comes out of the equation, right. Dematerialization is what follows. So think about all the 1980s or '90s technology that now come free with your cell phone, right. Peter and I did a calculation in Abundance and we were looking at this and we found the average cellphone houses over like a million dollars’ worth of technologies from the 1980s. You have your GPS locator, your encyclopedia, your radio and record player, your camera, video recorder, on and on and on, right. You can now with Instagram get access to editing software that 10 years ago was a $2 million package. And today it’s free with an Instagram account. So demonetization, dematerialization, the technology itself is disappearing. Nobody’s going out and buying cameras anymore because it comes on your smartphone.
The next thing that happens is democratization. This is what happens when these technologies themselves become cheaper and cheaper and cheaper. Cellphones are a classic example. Back in the '80s these were a luxury technology, right, that only the wealthiest could have and then it kind of slowly moved down the scale until where we are today. I mean 50 percent of the world doesn’t even just have a cellphone; they have a smartphone, right. They’re carrying a supercomputer in their pocket. That’s how much these things have been democratized. Access becomes available to anyone.
Directed/Produced by Jonathan Fowler, Elizabeth Rodd, and Dillon Fitton
Steven Kotler, co-author of "Bold: How to Go Big, Create Wealth and Impact the World," explains the basic tenets of what he and Peter Diamandis call "exponential entrepreneurship." An exponential entrepreneur is an entrepreneur who leans on exponentially accelerating technology, exponential psychological tools, and exponential crowd-power tools. He also points to the 6 D's: digitization, deception, disruption, demonetization, dematerialization, and democratization. Each of these is a stage in the exponential entrepreneur process, which Kotler explains is a great way to get a leg up over the competition.
Younger Americans support expanding the Supreme Court and serious political reforms, says new poll.
- Americans under 40 largely favor major political reforms, finds a new survey.
- The poll revealed that most would want to expand the Supreme Court, impose terms limits, and make it easier to vote.
- Millennials are more liberal and reform-centered than Generation Z.
A 2020 study published in the journal of Psychological Science explores the idea that fake news can actually help you remember real facts better.
- In 2019, researchers at Stanford Engineering analyzed the spread of fake news as if it were a strain of Ebola. They adapted a model for understanding diseases that can infect a person more than once to better understand how fake news spreads and gains traction.
- A new study published in 2020 explores the idea that fake news can actually help you remember real facts better.
- "These findings demonstrate one situation in which misinformation reminders can diminish the negative effects of fake-news exposure in the short term," researchers on the project explained.
Previous studies on misinformation have already paved the way to a better understanding<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDU1NzQ4NC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYxNjE2Mjg1Nn0.hs_xHktN1KXUDVoWpHIVBI2sMJy6aRK6tvBVFkqmYjk/img.jpg?width=1245&coordinates=0%2C800%2C0%2C823&height=700" id="fc135" class="rm-shortcode" data-rm-shortcode-id="246bb1920c0f40ccb15e123914de1ab1" data-rm-shortcode-name="rebelmouse-image" alt="fake news concept of misinformation and fake news in the media" />
How does misinformation spread?
Credit: Visual Generation on Shutterstock<p><strong>What is the "continued-influence" effect?</strong></p><p>A challenge in using corrections effectively is that repeating the misinformation can have negative consequences. Research on this effect (referred to as "continued-influence") has shown that information presented as factual that is later deemed false can still contaminate memory and reasoning. The persistence of the continued-influence effect has led researchers to generally recommend avoiding repeating misinformation. </p><p>"Repetition increases familiarity and believability of misinformation," <a href="https://engineering.stanford.edu/magazine/article/how-fake-news-spreads-real-virus" target="_blank" rel="noopener noreferrer">the study explains</a>.</p><p><strong>What is the "familiarity-backfire" effect?</strong></p><p>Studies of this effect have shown that increasing misinformation familiarity through extra exposure to it leads to misattributions of fluency when the context of said information cannot be recalled. <a href="https://journals.sagepub.com/doi/10.1177/0956797620952797#" target="_blank" rel="noopener noreferrer">A 2017 study</a> examined this effect in myth correction. Subjects rated beliefs in facts and myths of unclear veracity. Then, the facts were affirmed and myths corrected and subjects again made belief ratings. The results suggested a role for familiarity but the myth beliefs remained below pre-manipulation levels. </p>
New research into fake news has uncovered something interesting about misinformation<span style="display:block;position:relative;padding-top:56.25%;" class="rm-shortcode" data-rm-shortcode-id="ddeac998508e09fb9d1b4691d6c20d28"><iframe type="lazy-iframe" data-runner-src="https://www.youtube.com/embed/bJ5qUx1WOsg?rel=0" width="100%" height="auto" frameborder="0" scrolling="no" style="position:absolute;top:0;left:0;width:100%;height:100%;"></iframe></span><p>A 2020 study published in the journal of <a href="https://journals.sagepub.com/doi/10.1177/0956797620952797" target="_blank">Psychological Science</a> explores the idea that fake news can actually help you remember real facts better.</p><p>Fake news exposure can cause misinformation to be mistakenly remembered and believed. In two experiments, the team (led by Christopher N. Wahlheim) examined whether reminders of misinformation could do the opposite: improve memory for and beliefs in corrections to that fake news. </p><p>The study had subjects reading factual statements and then separate misinformation statements taken from news websites. Then, the subjects read statements that corrected the misinformation. Some misinformation reminders appeared before some corrections but not all. Then, subjects were asked to recall facts, indicate their belief in those recalls, and indicate whether they remembered the corrections and misinformation. </p><p>The results of the study showed that reminders increased recall and belief accuracy. These benefits were greater both when misinformation was recalled and when the subjects remembered that corrections had occurred. </p><p>Researchers on the project <a href="https://journals.sagepub.com/doi/10.1177/0956797620952797" target="_blank" rel="noopener noreferrer">explained</a>: "These findings demonstrate one situation in which misinformation reminders can diminish the negative effects of fake-news exposure in the short term."</p><p><strong>The conclusion: fake-news misinformation that was corrected by fact-checked information can improve both memory and belief accuracy in real information.</strong></p><p>"We examined the effects of providing misinformation reminders before fake-news corrections on memory and belief accuracy. Our study included everyday fake-news misinformation that was corrected by fact-check-verified statements. Building on research using fictional, yet naturalistic, event narratives to show that reminders can counteract misinformation reliance in memory reports," <a href="https://journals.sagepub.com/doi/10.1177/0956797620952797" target="_blank" rel="noopener noreferrer">the researchers</a> explained.</p><p>"It suggests that there may be benefits to learning how someone was being misleading. This knowledge may inform strategies that people use to counteract high exposure to misinformation spread for political gain," <a href="https://www.eurekalert.org/pub_releases/2020-10/afps-rtf101620.php" target="_blank">Wahlheim said</a>.</p>
Famous physicists like Richard Feynman think 137 holds the answers to the Universe.
- The fine structure constant has mystified scientists since the 1800s.
- The number 1/137 might hold the clues to the Grand Unified Theory.
- Relativity, electromagnetism and quantum mechanics are unified by the number.
Logic puzzles can teach reasoning in a fun way that doesn't feel like work.
- Logician Raymond Smullyan devised tons of logic puzzles, but one was declared by another philosopher to be the hardest of all time.
- The problem, also known as the Three Gods Problem, is solvable, even if it doesn't seem to be.
- It depends on using complex questions to assure that any answer given is useful.