peter diamandis steven kotler exponential technologies recode decode

The Future is Faster Than You Think – Peter Diamandis and Steven Kotler Discuss Exponential Technologies on Recode Decode, Hosted By Kara Swisher

Check out the Recode Decode Episode Page and Show Notes

Key Takeaways

  • An exponential technology is any tech that can be programmed into the 1s and 0s of computer code
    • Examples: AI, quantum computing, robotics, etc.
  • The convergence of exponential technologies is ramping up the speed of innovation
  • The three industries that will be most affected by technology in the coming years:
    • 1) Transportation
    • 2) Education
    • 3) Healthcare
  • The negative facets of technology:
    • Addiction
    • The loss of privacy
  • “If you want to make a billion dollars, help a billion people”Peter Diamandis

Books Mentioned

Intro

What are exponential technologies?

  • An exponential technology is any tech that can be programmed into the 1s and 0s of computer code
  • Exponential technologies at the forefront:
    • Robotics
    • Artificial Intelligence (AI)    
    • Nanotechnology
    • Cloud computing
    • 3D Printing
    • Augmented Reality (AR)/Virtual Reality (VR)
    • Blockchain
    • Biotechnology
    • Quantum Computing
  • These formerly independent technologies are starting to converge and overlap = converging technologies
    • The convergence of technologies creates new business models (i.e. YouTube, Uber, etc.)

The Rate of Innovation is Accelerating

  • With exponential technologies, the rate of change is so fast that it’s hard to predict what’ll come next
    • Legacy/older businesses will have a hard time keeping up if they’re not aware what’s coming
  • Exponential technologies are world-changing
  • Humans have more access to knowledge and computational power than ever before—combine this with a global connection and anything’s possible
  • The goal is to stop complaining about problems. Here are the tools we have; let’s go solve them. The winner in all of this is the consumer.” – Peter Diamandis

Keep a Hopeful Vision for the Future

  • People are afraid of what they don’t understand
  • When you get anxious, your brain’s ability to make creative connections between ideas is inhibited
    • The more anxious you get, the more linear your thought process becomes
  • We romanticize the past when it was actually quite brutal!
    • In the 1920s, big innovations included the first commercial radio station, the portable hairdryer, the Band-Aid, and the three-way traffic light
  • Technology hasn’t solved all of our problems, but it’s certainly helped; thanks to technology, we’ve:
    • Reduced the childhood mortality rate
    • Reduced global levels of extreme poverty
    • Increased global wind power
    • Increased global solar power
    • Increased global GDP
    • Reduced the death rate due to famine
  • The best of technology takes what used to be scarce and makes it abundant

The Negative Facets of Technology

  • Addiction
    • “We weren’t prepared for addiction because we didn’t anticipate the amount of dopamine that technology would drop into our system”  – Peter Diamandis
  • The loss of privacy
    • Giving up privacy to gain an advantage is a recent phenomenon
    • That said, this loss of privacy could potentially cause humans to, more generally, improve behavior—people behave differently when they know they’re being watched

The Three Industries That Will Be Most Affected By Technology in the Coming Years

1) Transportation

  • This decade, we’ll undoubtedly see autonomous vehicles
    • Flying cars are on the way as well!
  • High-speed transport and autonomous vehicles will bring far-reaching impacts:
    • They’ll save time
    • They’ll increase your dating options
    • The size of local school districts will increase
  • Autonomous vehicles will likely reboot the sex industry through the creation of mobile brothels

2) Education

  • Our current education system is broken—it was built for the Industrial Revolution
  • The convergence of technologies, over time, will reinvent education
    • You’ll soon be able to “talk to Plato” via VR/AI instead of solely reading about him
  • Eventually, kids won’t go to school—they’ll do all of their learning at home
    • (We’ve already scrapped trips to the library and replaced them with Google searches)

3) Healthcare

  • Exponential technologies will gear people more towards a focus on healthspan rather than lifespan
    • The current problem: our healthcare system only takes care of people after they’re sick
  • Innovations have already begun:
    • AI has drastically improved diagnostics
    • AI/quantum computing has revolutionized drug development
  • The healthcare companies of the future will better utilize our personal data
    • Apple CEO Tim Cook has said in the past that, in 20 years, healthcare will be Apple’s biggest contribution
  • Health Nucleus is a complete, personal health assessment that integrates full-body imaging with genome sequencing to provide an overall map of your current and future health
    • In the past, a Health Nucleus assessment cost $25,000; it’s now down to $7,500
  • We should use technology to work towards two healthcare goals:
    • 1) Be able to catch any disease early—when it’s 100% curable
    • 2) To figure out why we age

Won’t longer lifespans cause to over-populate the planet?

  • NO! If people are healthier and better educated, they’ll have fewer kids.

Other Industries Soon to Be Impacted By Technology

  • 1) Entertainment (technologies will continue to end the Hollywood monopoly)
  • 2) Retail (humans will soon be all but gone from the industry)
  • 3) Augmented reality

Steven & Peter’s Exponential Mindset Book Trilogy

  • Book I: Abundance shows how individuals or small teams can use individual exponential technologies—such as AI, robotics, and vertical farming—to tackle global problems
  • Book II: Bold, a how-to book about building a business centered around exponential technologies
    • A quote from the book: “If you want to make a billion dollars, help a billion people”Peter Diamandis
  • Book III: The Future Is Faster Than You Think discusses how formerly independent exponential technologies are beginning to converge and overlap

What are the scariest problems technology must solve?

  • Global pandemics
  • Environmental disruption
  • Terrorism
  • Over-regulation
  • Biodiversity and species extinction
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