On: Innovation and Scientific Progress.
Date: January 2019
Background: Co-founder and CEO of Stripe, internet payment and services company.
- Increase in scientific knowledge may be one of the most important drivers of long term progress.
- Number of scientists has increased, but pace of scientific discoveries has declined (maybe).
- Challenges of measuring innovation.
- Perhaps matter of diminishing returns (low hanging fruits already discovered, increased complexity).
- Perhaps matter of structure and funding of research and related institutions:
- More conservative, group think.
- Recognizes that power law applies to innovation.
- Rare, unpredictable events.
- Look for strategies that increase variance to maximize occurrence of positive black swans.