How to Think Bigger: Thinking Big and Bold | Peter Diamandis

our first presenter is my dear friend mr. Peter Diamandis you could say Diamandis de Montes I've never I still don't know what his name is and but the point is he has done incredible stuff I always say because he doesn't quite say it this way that he's responsible for privates spaceflight because in 2004 with the XPrize Foundation in a 10 million dollar prize that he put up he actually had 26 teams compete to in spaceship one went up in the space and they won a ten million dollar prize although they spent 26 million dollars to win the 20 the ten million dollar prize but what it what it did was it started a massive industry that Peter when I say started the the massiveness of this industry is just going to get bigger and bigger and bigger but peter along the way has done all kinds of stuff from international space university co-founder of zero-g flights Planetary Resources which is an asteroid mining company Eric Anderson over here is the CEO of Planetary Resources singularity University with Ray Kurzweil he is the author of The New York Times bestseller abundance the future is better than you think and his presentation is called thinking big and bold and he's going to talk about stuff that I don't even know what he's going to say but it will blow your mind because every time I see Peter speak he shares stuff that is so incredible so insightful and so optimistic about what you can do and so I want to really give her a give it up for mr. Peter Diamandis where's he at where he's at thank you awesome i Joe that was a great opening that was real is that fun was that great unfortunately he sets the bar really high for being funny which I'm not but you are not funny looking just funny but um but Joe's become a dear friend and a great partner and across the board so thank you Joe for putting this on and so it's a pleasure to be back here again so uh I want to share with you what I've been working on years ago abundance flowed out of me as my mission and purpose and and hopefully some of you have had a chance to read it and to touched your lives two years ago I started on a new journey which is a project I call bold and it is if abundance was where we're going in the next 20 to 30 years bold is the blueprint the tools on how to get there it's the notion that today all of us can do what only governments and large corporations used to be able to do you have the tools in your tool chest to literally take on the world's biggest problems and really take on billion-dollar ambitions and I've been working on speaking to over you know a hundred CEOs about 30 billion errors the top tech folks about what are the tools that they're developing in lab today and coming to market the next two five ten years and how do you use those tools in fact working with with Dan Sullivan who's in the room here was another great mentor of mine to make these tools teachable and calling this abundance 360 as a theme to really keep the abundance theme going forward so Joe mentioned my own personal passion which I share with my my good friend and business partner Eric Anderson about opening the space frontier and the notion that today that's doable by individuals it's no longer the world's biggest companies or governments people can make an impact in something extraordinary like that and it's going to become more and more of that kind of thinking that you're enabled and in fact it's your limitations of your thinking that hold you back most of the time so I start with this lesson I hope you all will get which is we've evolved on this planet as local and linear thinkers on the plains and savannas of Africa hundreds of thousands of years ago the world was local and linear and our brains evolved to think in a local and linear fashion and we don't realize that we're thinking in a local linear fashion but today the world is anything but that today the world is exponential in global right something happens in China India you know about it seconds later things don't change you know century to century or decade to decade they're changing year to year and you know if you stop and you realize that we are local linear thinkers in a global and exponential world that causes challenges so that red line is us it's our customers it's our politicians we extrapolate linearly but the world around us is exploding in technology exploding and the difference between that exponential technological growth and our linear thinking is disruptive stress or disruptive opportunity me explain if you're a large corporation that's stuck in linear thinking making billion-dollar assets you know hiring hundreds of thousands of people and all of a sudden technology comes along that displaces the need for those people you know it's disruptive stress if you're one of us an entrepreneur who sees wow how can I use this piece of technology that replaces the work of a thousand people or allows me to do you know to manufacture stuff it's disruptive opportunity you can overcome you can leapfrog an entire you know a company has been around for a hundred years and a great example is this that was around for 100 years Kodak so the year is 1996 Kodak has a 28 billion dollar market cap it's 140,000 employees it's 104 years old at this date and it was in 1996 so in 1976 20 years earlier that Kodak invented the digital camera it ultimately puts them out of business and what happened the engineer who invented the digital camera explained to his folks what this was going to do what the potential was but this first digital camera was only point 0 1 megapixels point 0 1 megapixels and the you know the CEO and the heads the business said looked at this guy it's a toy for kids what do you mean and we're in the we're in the chemicals and paper business not this digital camera stuff and so they ignored it they ignored this and unfortunately last year in 2012 Kodak goes bankrupt what's interesting though in that same year another company also in the digital imagery business called Instagram gets acquired by Facebook for a billion dollars but with 13 employees I call this this process of going from a you know a linear company being displaced by an exponential one the new Kodak moment so this is the world we're living in - and this is the information and material that I've been researching that I'm working with Dan to make teachable its how do you become Instagram and not Kodak in fact how do you go finding the Kodak's out there that you can displace and how do you do that so what I've been studying for the last two years are a number of key exponential technologies we teach the singularity University I teach us at my abundant 360 program and then in addition to the exponential technology is what I call exponential organizational tools I'll explain what that means but fundamentally it's how do you as an entrepreneur leverage genius in the world to do your work for you many times for free so we'll come back and defining these two areas in a moment but let me give you your first lesson I want to talk about the six DS of exponential technology the 60s exponential framework so any technology that becomes digitized becomes an information technology what does that mean biology has become an information technology biologies become digitized we now sequence your human genome and you get information on a on a digital stream right you can go to a number of companies and find out what your genetic normalities or abnormalities would be but what becomes digitized enters a period of exponential growth and the early parts of exponential growth are deceptive it's deceptive people don't notice that a technology is and exponential growth I'll explain this in more detail it then becomes disruptive all of a sudden when they do notice second D is 30 is disruptive it then causes dematerialization explain what that means D monetization and eventually democratization so these are the 60s and I'll come back to these one at a time and explain what that means so let's go into deceptive and disruptive so exponential growth is a simple doubling right one becomes two becomes four becomes eight sixteen thirty-two and to give you a visual picture of this I want you to imagine I have a test tube with a colony of algae in it they're doubling every minute and in the beginning of this story it's 1154 a.m. and this this test tube has got 1.5% full with algae small amount of algae they barely bump into each other they haven't know each other they haven't gone around and met each other yet but they're doubling they meet whether algae and they have a party and they double I mean it later it's 11:55 we have 3% full minute later at 6% so they still haven't noticed that they're in exponential growth after all just 6% full minute later it's 12% full 25 percent full now it is starting to meet people more regularly it's 50% full 1159 at noon they're panicking it's a hundred percent full they're out of resources only five minutes later thankfully one of these pioneering algae said oh my god look out there in the universe I saw three other test tubes totally empty I think oh we're saved we're saved and so the algae organized and they say okay 25 percent of you go to that test tube 25 percent go to this test tube this test tube 25 percent here stay here but they don't realize is that they're in exponential growth and that Savior really doesn't mean much because a minute later the 50% and two minutes later they're dead so the early stages of exponential growth are very deceptive we don't notice it Kodak didn't notice the digital camera increasing in megapixels becoming easier other technologies organizing around it like digital printers and you know higher memory density and then by the time that Kodak noticed the digital camera was becoming a new standard it was too late so my question is are you noticing other technologies out there that are an exponential growth that you can be hopping on early the next D of Exponential's is dematerialization what I mean by dematerialization there are lots of things we used to own that we don't own as things anymore we own them as apps my favorite image 20 years ago 20 years later all of these things fit in your pocket and come free on your smartphone right I don't have a GPS anymore on my car shelf it's a GPS on my Android phone I don't have libraries of books or music it's on my phone I don't have an HD video camera or an HD still camera it's on my phone all these physical things Rd materializing as they become digitized so if you're in the thing business you have to be wondering which of your things that you sell could be dematerialized or if you're an entrepreneur you may be looking at how do i D materialize that thing so Airbnb is dematerializing Hotels right if you want it to be in the hotel business before what would you have to do you have to buy real estate you'd have to get a hotel designer you'd have to invest tens if not hundreds of millions of dollars then I guarantee you the hotel industry never thought that two guys in a garage could give them competition but they are aren't they you've got companies dematerializing rental car industries so when you start thinking about industries what industries could you dematerialize not just physical things but industries so I'm studying this process interviewing the companies and the people who've dematerializing what did they think how did they do it where are they going make sense you with me still next one is d monetization one of my D monetization well Craigslist D monetize the classifieds it took the money out of the newspapers and put it into the consumers pockets Skype deimata and D monetize long distance iTunes the record store Google research libraries eBay the local store Amazon bookstores it D monetized so a lot of industries are becoming d monetized and scaring the out of a lot of companies and so is your business going to become D monetized where the money where it literally becomes free freeware and then has it changed your business model or how can you demonetized an industry and take a small amount of that business give 99 percent back to the consumer and take the 1% and when these things become D materialized and demonetised they're literally free where on the internet they become democratized they go everywhere right the Masai warrior in the middle of Africa on a smartphone has got democratization of an HD video camera still camera radios books all these things free on their smartphone and this stuff has become democratized around the world so that those sixties make make sense powerful forces over these next now right now know these next two five ten years are going to change the face of every industry because we're in rapid exponential growth for a whole series of technologies and let me just talk about this I've been I've been researching and spending time with the CEOs the top and these exponential technologies I can't talk about many of them give them the time I'm going to just pick two robotics and 3d printing and I'm not going to teach these we're going to give you an overview of what's going on but you need to understand where these technologies are going and how do you use them so robotics this is a friend Scott Hasson whose was one of the earliest Google shareholders and has been building a series of robots this is the pr2 and the pr2 is a preset a precursor to the robots will be in your homes what happens when labor forces change so which businesses are labor intensive today that are going to transform when labor becomes effectively free because these robots are going to enter every aspect of our lives this is cruelty to robots but I have an emotional reaction when I see this I don't know if you do as well but robots are going to enter every aspect of our world because they don't have fights on on Friday night they don't come in late they don't have sick you don't have unions they're going to transform every business this is another robot this is the Google autonomous car those yoo-hoo-hoo join me on the next adventure trip that we're doing we're going to be focusing on robotics and 3d printing and going and riding in this in this Google autonomous car up in San Jose this is what the car is doing it's a robot it's fully autonomous this is it driving down University Boulevard it's driven now over a half a million miles it's been in two accidents only twice when it's been driven by humans guarantee you now legal in a number of states you see that thing on the roof that's spinning around that thing on the roof that's spinning around that - in the image over here is called a lidar to limit laser imaging radar it's got 64 lasers at ten rpm it's generating 750 megabytes of data per second so you can see what the computer is seeing right it's seeing everything 750 megabytes of data per second it's seeing a person open a door seeing a butterfly come along and seeing a person piece drop a piece of trash it's seeing some guy being pickpocketed it's seeing everything now I want you to imagine tens of millions of these cars on the road in the future what the business opportunities is that going to create because you're now going to be able to have a record backwards in time of every single thing that occurred in the open public right does that do you get what the power of that is in terms of information and information mining but it doesn't stop there this is one example because in the future you're going to be able to know anything you want anytime you want so Eric and I are in the space business this is an example there are a number of low Earth orbit constellations that are being launched in the next year and so there will be a number these commercial constellations giving imaging at half a meter resolution and you'll be able to look in any parking lot anywhere in the world and find out exactly at that moment how many cars are in that parking lot of your competition or how many trucks are carrying supplies down from one mining location down to another what do you want to know about your competition you can know it powerful thinking right now it's a matter of thinking if I what information do I want to know because it doesn't stop there there's going to be an army of AI drones giving you literally centimeter resolution flying over every city every parking lot guys played with the stuff yet amazing and so these drones forget about this the satellite constellations those are going to be displaced by these drone populations flying at 10,000 feet or a thousand feet over your home whatever the case might be taking lots of these imaging and that isn't even anything yet because now think about this as you've got millions of people walking on Google glass on record taking information you're going to have knowledge of everything going on everywhere how is that change your business models what kind of business opportunities that create we kind of me not talking about you know quarter million dollars what about you know we're talking a quarter you know billion dollars talking multi billion-dollar opportunities if you could figure out what information this stuff is coming down the pike it is happening it's not a matter of if it's when so how are you going to use this and take advantage of this stuff other technology to mention 3d printing and again I'm just giving you a quick overview I'm not teaching this stuff my intention is to teach this and the implications and how you use it where it's going and what it can go and do for you but I want to give you an overview this technology 3d printing is the Star Trek replicator it's the closest thing I've just joined the board my first public board a company called 3d systems there are five billion dollar 3d printing company the best in the world I want to learn about this so I'm dating a deep dive in this industry the manufacturing industry around the world is 10 trillion dollars 10 trillion dollars and it's about to become disruptive there's 10 trillion dollars of opportunity boom on the table by 3d printing so 3d printing is the ability to print things at a layer at a time where you take any object you want digitally and again everything is becoming digitized and you can print it out so this is a a polygon within a polygon of the polygon that's been 3d printed this are high-temperature titanium turbine blades that were 3d printed ge is now 3d printing they're injectors for their jet engines because they can't actually physically manufacture it in a in the old manufacturing process you see 3d printing is additive manufacturing it used to be that it was subtractive you take a block of aluminum and you cut away everything you didn't want what was left was the piece now you do just the opposite you just add atoms where you want them effectively and 3d print the structure and it turns out there are many things you couldn't subtractive League manufacture that you can add of Li manufacture this is a future of 3d printing homes here's a thousand home designs you want which one you want print boom and you print a 3d home this is a person who lost his right lower limb scanned his left limb flipped the image and 3d printed a composite prosthetic this is a full-scale 3d printed motorcycle in the lobby of Autodesk and one of the industries that's becoming you know just fun because it's a mom-and-pop industry is the whole jewelry industry right this is the big ear ring that you print and interesting is when it's printed it works the first time all the parts it's manufactured as a workable 3d moving geared ring in one shot perfect to your size whatever engraved on it you want let me show you a few other things we're now beginning to 3d print foods this is a joint venture with Hershey's and 3d systems imagine if you would being able to 3d print your foods at home but what you're adding and 3d printing into the foods is exactly the proteins and vitamins and things that you want so your foods are being manufactured in your home for you you know I need some more calcium in my diet great I'm going to up that in the 3d printing I love these examples for the women in the room imagine being able to 3d print your shoes you don't like the shoes you want you recycle them and you 3d print and you design or you're going out at 4:00 at night and you 3d print a dress that evening this is on the right this is an entrepreneur Allison Taylor who knew nothing about 3d printing and wanted to go after the doll industry and she started I'm going to teach how did she do this how do you start an industry or business in the 3d printing world so she learned online and I'm going to show you how you do that and she created a company that 3d printing custom made dolls it's a three point five billion dollar marketplace that she's going after to disrupt and right now everything's made in China and is mass manufactured this is about customized production you can go large-scale this is a company called Invisalign that is manufacturing 17 million unique items per year every single invisi liner it's replacing the metal braces 65,000 items per day so you can mass-produce this is built with 54 3d printers they're doing 17 million items in a San Francisco warehouse that's dark it's running robotically 7 by 24 so what you know I give keynotes to manufacturing companies that are old-style manufacturing companies they are deers in the headlights of this technology again 10 trillion dollars up for grabs and 3d printing makes sense I mean I just want to show you a little bit of what's coming down the pike because what 3d printing is going to allow is every one of us to become designers and manufacturers you know I need a device that can do this and you're talking to your AI say can you make it a little bit rounder and stretch it out here and oh yeah that's perfect print that's what it's going to be like and you're going to upload your design to the cloud and say charge 50 cents for it anybody else wants to print it your kids are not going to be patient enough to buy on Amazon and wait 24 hours for delivery they're going to hit print on that Lego set and have it manufactured in their closet this is where we're going it's going to disrupt multi hundred billion dollar transportation industries you're not going to have warehouses full of stuff you're going to have it on the cloud do you guys get the impact of where this is going and then finally 3d printing of biologics we're now this is Tony Atala who's now working on 3d printing of organs I won't go into detail but it's but the work is going on right now so that's just a small piece about some of the exponential technologies again AI you know a synthetic biology I'm touched any of these things right let me give you a little bit of overview of the other side that I've been researching and working and I want to teach you guys about how to use which I call exponential organizational tools exponential organizational tools incentive competitions data mining gamification crowdfunding DIY communities on-demand workforce crowd ideation so my friend Bill joy has a famous quote he says no matter who you are most the smartest people work for someone else even if you're you know Larry Page at Google with 40,000 employees that's 40,000 out of 7 billion so the question is how do you get those 7 billion or some subset of those people to do stuff for you for free for fun and so what I've been researching is the areas of what I call exponential organizational tools and one of them is gamification how do you take your problem that you have and gamify it like oh my god I've got this crazy prominent eye how to solve it well how do you get other people to solve it for you either for a fixed price or for free because you make it fun and you gamify it there are amazing companies which I've spent time with and and and extract information like like badge volyn if you guys get my blogs a lot of the research and information are on my blogs at DM and Escom but let me show you one two examples of gamification this is a gamification of how do you get my Park cleaned up I make it fun for people to clean up your Park even works for deaf people in one day 70 kilograms was cleaned up 41 kilograms more than normal here's another one how do you get people to exercise all right you get the idea uh a friend of mine an su graduate was trying to deal with malaria and by the way there's a potentially new vaccine that's come out for malaria which would be life-changing in the world but malarial detection is expensive and so what he did was the way that you detect malaria today is that you actually have a person who has a microscope and actually looks at a slide and is looking for the malaria parasite in the blood and yes you know basically to account and it's time intensive and it costs a large amount of money so what this person said is we're going to take blood samples image them put the images up on the web and teach the public how to find the parasite by making it a first shooter game Wii game go fight it so malaria spot that org is a first shooter game for looking for the malaria parasite in blood images and it was amazing gifts come the stats here it was launched in April 2012 and 30 days at 8,000 players in 95 countries if you combine 22 games from non expert players they achieved an accuracy of 99% and if they gave those people one minute of training and combined 13 games you had 99% so again how do you take your problem and make it fun for people to solve it's gamification on-demand workforce so I talked about this to company of people running 10 billion person and 10 billion dollar companies that a hundred thousand people in their workforce I'm saying yet hundred thousand people your workforce is a lead keel for you how do you instead instead of employing a large number of people employ people on demand when you need them so think about it can you get the people to do the work for you as a large-scale labor force where you pay them only when they do the work so there are companies like CrowdFlower like freelancer like a number of them CrowdFlower is one that's one of the largest it's got millions of people around the world that you can get where you say I'll give you five tends to do this piece of work so here's an example this this is Sara fortune in Harvard med school who I know who does work in tuberculosis and she was working on TB survivor cells and she had to have hundreds of thousands of images looked at now forget about its TB cells maybe it's images of pretty women maybe it's images of homes on the Internet maybe it's images of whatever you need to get her work done she had two options she either hired a hundred graduate students for a year to look at these images she created an AI to look at the images for her or she went out to the crowd it's what she did is she went out to the crowd to three million people on CrowdFlower and she offered five cents per image analysis whatever the case might do and she got it done in a week we're all in the marketing world here is a company called freelancer I want to show you an example of what they did freelancer is 6.7 the high folks have no freelancer as a company many folks have used it okay small number I have for a lot of my work six point seven million people into in 34 countries 200 million dollars of projects online 600 categories of work you can get a freelancer in synthetic biology if you want to start synthetic biology company in astronomy in quantum physics in anything 600 different categories of experts who are available per hour or per finished project and so what freelancer did was and the average it's a $200 paid gig these people are super smart PhD PhDs in Pakistan you can hire they say what can I get for $25,000 and they put up a challenge it's set for $25,000 expose our freelancer logo in your local community they had 441 entries the winning team got 3,000 villagers in Bangladesh to put on three thousand t-shirts three thousand bandanas and three thousand flags and March into a stadium and they won 10,000 of the 25,000 let me show you a video of what that looked like ready you ready to win $25,000 we'll listen up because the freelancer.com expose our local contest back so these are all different teams around the world and what they were doing to try and compete and they only got paid on you know at the end of this so people were skydiving for this competition nobody was guaranteed a penny here's the in Bangladesh the 3,000 villagers this was a rap music star paired a rap song for him I love this a motorcycle gang enter the competition so another areas crowd creation so how many of you have used 99designs a great number great so you know this you can go and I've used it all the time for logo used to be I would hire a production company and they charge me you know thousands of dollars and I get one final product with 99 designs it's extraordinary and you guys should you know if you haven't need a new you haven't used it you should site t-shirt or print design go to 99 designs the number one market place for crowdsource graphic design 99 designs helps you host a design contest where a crowd of graphic designers compete to give you the design you love or your money back in just seven days you'll have dozens of custom designs to choose from at a fraction of the price logo started just $2.99 start your next graphic design project go to 99 designs calm but you might not know about is a company called Tonga that is a version of that for creating television commercials anybody here use Tonga lit at all so I've used Tonga Brendan do you enjoy it so what Tonga realized is that the old Madison Avenue way of creating TV commercial look like this it would cost you between a quarter million dollars to a million dollars to get a TV commercial made it cost about six to twelve months of your time you get one finished product and distribution of that product well that's extra what tunngle is done is it said you know there are 40,000 people in Los Angeles with a 1080p HD camera and you know in a Mac who want to be known and they will fight tooth and nail to create a TV commercial for you 40,000 garage studios so they put up ten thousand two hundred thousand dollar competitions and in those competitions you actually get ideas and final product so here's an example sure tech that makes duct tape wanted to refresh their brand and so what they did was they created a competition for ten thousand bucks they put out to the community of players and they got they said give us ideas for a TV commercial for duct tape they got five hundred ideas back and by the way the idea is to be in a hundred and forty character tweet they narrowed those 500 ideas down to five ideas they said okay these are the five ideas we like they put those five ideas back out to those Garage Studios and they said make TV commercials around these five ideas haven't paid anything yet right in paid $1 yet those garage Studios created 60 final videos for them to choose from let me show you what the winning video looked like by the way the timeline was in weeks remember Tron J I told you to clean the garage not play with duct tape yeah yes there's no way she's his girlfriend but this video on top of being produced for that fixed price then goes viral as 2.5 million views this past year Tonga made its first Superbowl commercial so if creating television commercials has been out of reach here's a way to get the crowd to do it and compete their butts off to do it for you so what are the best ways to do that what are the platforms you can use this is the work that you know I'm learning to teach and and and share with you guys data mining you may have heard about this I want to share it with you because it's one of the most powerful things in the world you guys have a I think the technical term is a shitload of data and in that data there's literally gold how do you extract that information and by the way if you don't have data you can actually go to the crowd to CrowdFlower or freelancer and have the crowd create the data sets for you like I'll pay a penny for any piece of data on this subject but once you have that data the question is can you extract value from that data so I'll give you two quick examples this is a good friend of mine up in Toronto I just introduced to Dan Rob McEwen Rob is the chairman of gold Corp you may have heard the story for me before but it's important you hear it again what Rob did was basically had a gold mine and he had no idea how much gold was in his mind he spent nine years collecting geological data from his mind and when he went to his geologist and asked where can I find this next six million ounces of gold his geologist the best he could employ had no idea so what he did is he created a competition and he took all of his geological data think of marketing data for you think of his customer data for you think of it as whatever data that you have in your files and he put it up on the web and he said I want to give up a half a million dollar prize for the person who can show me where the six million ounces of gold are in this mine he had 100 he had 1400 data requests 125 entries in the competition three winners showed him where to find six million ounces of gold none of these came to his mind one was in Russia two were in New Zealand what they did was look at his data in a different way and he only paid the winners and ultimately about a million dollars of total investment in his part generated three billion dollars in in value creation here's another example and what I'll do is if you if you follow my work introduce you to a company called kaggle that's one of the best data mining companies turnkeys the process how do you use kaggle how can you extract the data what would cattle did was they did a demonstration with Allstate Allstate Insurance three two billion dollar company what are they in the business of doing they're in the business of saying if you're a woman age twenty-five living in this city unmarried your probability of having an accident is X percent that's some business they're in because they then set your rate based upon your probability of having an accident and so they employ 40 statisticians the best in the world but they decide to do an experiment they said okay we're going to see if the data mining experts out there in the world can do a better algorithm to tell us if we have this kind of data what the result is so they put up a $10,000 competition they 107 teams entered this ten weeks later they put up a training set they said here's a bunch of people here's their accident rates here's a bunch of people you tell me what their accident rates are and the test set in the course of 10 weeks they improved all states internal process and algorithm three hundred and forty percent for 10k that's worth billions of dollars to them so what data do you have that the crowd could give you an algorithm on to tell you predictively which customers will buy or whatever the case might be what is that worth to you if you could create that kind of competition and have these data analysts who by the way during the day work at Google or JPL at night they do this because they want to prove they're the best in the world I'll end here on crowdfunding no bucks no Buck Rogers one of most powerful things out there that you should be doing right now I don't know it's lava here not yet but you'll meet so there are 530 crowdfunding platforms out there IndieGoGo is when the biggest you'll meet Slava crowd you got rocket hub and you've got Kickstarter they generated 2.8 billion dollars of revenue last year they're slated to create 15 billion dollars of cash available by 2015 every company should be doing a crowdfunding because by doing a crowdfunding project you are not only getting revenue in your testing interest in your products and you're creating a passionate community of people who are following your work so I interviewed the top people Erik mishegoss he is a guy I won't go into the story in detail got a minute left Erik is a guy who basically was running out of money decided to create a competition out there to fund his Pebble watch he had six weeks of cash left in the bank put up this competition and raised ten million dollars he needed $200,000 was was looking for just a few months ago Erik Anderson and i and the team at Planetary Resources I think Mike Kline is here in the room who is working with us as well we ended up doing a crowdfunding campaign for a public use space telescope used all of the techniques I've been learning here and we went out and and beat our goal by 50% our goal was a million bucks raised 1.5 million so let me pause there a second and say what I've given you just a small smattering and I'm sorry on overload my goal here is simply to give you an overview all of these powerful technologies are coming down the pike and all of these exponential tools that you can use the technologies you can use and the tools you can use

Channel: Joe Polish

Views: 42,182

Rating: 4.8928571 out of 5

Keywords: Peter Diamandis, singularity university, innovation, peter diamandis abundance, joe polish, genius network, joe polish genius network, genius network annual event, Thinking big and bold, peter diamandis on thinking big and bold, how to think big, how to think bigger

Id: zAVxI5wWGKU

Length: 46min 42sec (2802 seconds)

Published: Mon Oct 17 2016