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A Caltech Nobel laureate celebrates his 100th birthday, then gets back to work

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Re: A Caltech Nobel laureate celebrates his 100th birthday, then gets back to work

#221
post #187

Earlier quoted context omitted.

That isn't how welfare works. You're actually presenting the "welfare queen" argument even if you're saying it's good, but it was bad because it wasn't true. Welfare is good because people like being employed and supporting them gives them more time and resources to find a better job. It increases employment because of this. (this is search/matching theory.) Conversely, the kind of non-working people who are poorest…

Do you think that full employment is necessary in today's society? Note I did not use the word economy. I wonder if people who have "welfare queen" adjacent perspectives believe that people would not be happy in a situation where we have a smaller economy and a society where the average person isn't forced to compromise their values or submit themselves to abuse just to afford rent and food.

I think it's the only choice because entropy exists. "Everyone should be retired" doesn't work when you need sewage workers, or even sewage robot maintenance workers.

That said, you don't have to work 120 hours a week just because you're employed, and hours worked has also been trending down over time.

> the average person isn't forced to compromise their values or submit themselves to abuse just to afford rent and food.

This is what happens without full employment; full employment means you don't have to do this because it's hard to hire new people (they're all already employed) so it's easy to change jobs.

Re: A Caltech Nobel laureate celebrates his 100th birthday, then gets back to work

#222

Hi there, old person here. Tomorrow is my 65th birthday. I had vowed to myself that I would completely and totally retire, Finally, at 65. But then, this "thing" cropped up and the day after tomorrow, I am pitching my 3rd startup to investors. I wonder, am I crazy. But I feel passion for this project. So, I am throwing myself into the fray again, there is no logical reason to do so. So, Rudy, I understand.

My question to self is - retire to do what?

The things you didn't have time to do when you had to work full time.

You could travel, study a field deeply, read books in their original language, teach or mentor, etc.

You don't have anything you've always wished you could find more time to do properly?

Re: A Caltech Nobel laureate celebrates his 100th birthday, then gets back to work

#223

Hi there, old person here. Tomorrow is my 65th birthday. I had vowed to myself that I would completely and totally retire, Finally, at 65. But then, this "thing" cropped up and the day after tomorrow, I am pitching my 3rd startup to investors. I wonder, am I crazy. But I feel passion for this project. So, I am throwing myself into the fray again, there is no logical reason to do so. So, Rudy, I understand.

> Tomorrow is my 65th birthday. Congrats! > the day after tomorrow, I am pitching my 3rd startup to investors. I'm still pretty active (58) but there is no way I'm going to do another run, I'm happy tinkering with stuff, spending time with kids and working on average 3 to 4 months per year. I always saw money as a means to an end, just another tool in the toolbox. I don't need more of it so that part of the drive is…

I am sort of blown away by the response to my post. I feel like I need to respond. But the posts from so many people are so amazing. I have "retired" a couple of times, but I keep coming back because, this is fun.

The thing I want to do, it has to do with a new technology that would revolutionize LEOS technology, at least, that's what I think. And, I have some models that support that. Who cares? Millions of people who can't afford a decent internet connection, or one at all. If I say more, I could spoil it.

But what if we could do both. Turn a small reasonable profit and provide connectivity, well, everywhere. And decently. That's my dream. It's OK to laugh. I do too. But heck. What else am I supposed to do. Why not take a shot with a kooky idea. So here I go, fingers crossed and all that.

Re: A Caltech Nobel laureate celebrates his 100th birthday, then gets back to work

#224

Earlier quoted context omitted.

> Tomorrow is my 65th birthday. Congrats! > the day after tomorrow, I am pitching my 3rd startup to investors. I'm still pretty active (58) but there is no way I'm going to do another run, I'm happy tinkering with stuff, spending time with kids and working on average 3 to 4 months per year. I always saw money as a means to an end, just another tool in the toolbox. I don't need more of it so that part of the drive is…

I am sort of blown away by the response to my post. I feel like I need to respond. But the posts from so many people are so amazing. I have "retired" a couple of times, but I keep coming back because, this is fun. The thing I want to do, it has to do with a new technology that would revolutionize LEOS technology, at least, that's what I think. And, I have some models that support that. Who cares? Millions of people w…

Godspeed, if I can help in any way definitely ping me.

Re: A Caltech Nobel laureate celebrates his 100th birthday, then gets back to work

#225

Earlier quoted context omitted.

Are: your member-benefit idea - we live in an extreme mono-culture of company structures and I think any innovation there might help. Tell us more :-)

Basically the concept is to create a company that does the "house keeping" (in the USA a company health plan for example, managing tax requirements) and a record keeping system of "points" related to work product of members, and an annual distribution of profits proportioned strictly on a point basis. Because this was originally conceived for people who "could retire" but chose not to, employee pay would be $1/month…

> record keeping system of "points" related to work product of members, and an annual distribution of profits proportioned strictly on a point basis.

This is hilarious :) It is so close. I called them 'stakes' but otherwise it is pretty much the exact same thing. I wonder how many other implementations of this idea there are out there.

The company that is running using this idea is 'Infocaster', a project company in Arnhem, NL. One of the founders put his own spin on it with a whole pile of automated administration but he's - as far as I know - yet to farm it out beyond that one company. He also wrote a book about it.

Re: A Caltech Nobel laureate celebrates his 100th birthday, then gets back to work

#226
post #187

Earlier quoted context omitted.

Do you think that full employment is necessary in today's society? Note I did not use the word economy. I wonder if people who have "welfare queen" adjacent perspectives believe that people would not be happy in a situation where we have a smaller economy and a society where the average person isn't forced to compromise their values or submit themselves to abuse just to afford rent and food.

I think it's the only choice because entropy exists. "Everyone should be retired" doesn't work when you need sewage workers, or even sewage robot maintenance workers. That said, you don't have to work 120 hours a week just because you're employed, and hours worked has also been trending down over time. > the average person isn't forced to compromise their values or submit themselves to abuse just to afford rent and f…

Just because you'd be uncomfortable working on sewers when you could be sitting on your couch watching TV doesn't mean we will run out of sewer workers.

Full employment comes with a whole host of other problems for the kind of economy we inhabit today -- a sure enough sign that things aren't working under the current paradigm. We need a change if something like 'full employment' is expected to be a positive thing.

Re: A Caltech Nobel laureate celebrates his 100th birthday, then gets back to work

#227

Earlier quoted context omitted.

Basically the concept is to create a company that does the "house keeping" (in the USA a company health plan for example, managing tax requirements) and a record keeping system of "points" related to work product of members, and an annual distribution of profits proportioned strictly on a point basis. Because this was originally conceived for people who "could retire" but chose not to, employee pay would be $1/month…

> record keeping system of "points" related to work product of members, and an annual distribution of profits proportioned strictly on a point basis. This is hilarious :) It is so close. I called them 'stakes' but otherwise it is pretty much the exact same thing. I wonder how many other implementations of this idea there are out there. The company that is running using this idea is 'Infocaster', a project company in…

Good ideas are good ideas :-). Infocaster wins though for releasing a product, so far I haven't done that.

Everyone I've talked to about it (and that has been quite a few people) have all nodded their heads and said "Wow, that is a really good idea, let me know when you kick it off!" But at the same time there is a chicken/egg problem of initial runway to initial payout. I've looked at a couple of lean ways to kick this off but so far none have come to fruition.

Re: A Caltech Nobel laureate celebrates his 100th birthday, then gets back to work

#228
post #226

Earlier quoted context omitted.

I think it's the only choice because entropy exists. "Everyone should be retired" doesn't work when you need sewage workers, or even sewage robot maintenance workers. That said, you don't have to work 120 hours a week just because you're employed, and hours worked has also been trending down over time. > the average person isn't forced to compromise their values or submit themselves to abuse just to afford rent and f…

Just because you'd be uncomfortable working on sewers when you could be sitting on your couch watching TV doesn't mean we will run out of sewer workers. Full employment comes with a whole host of other problems for the kind of economy we inhabit today -- a sure enough sign that things aren't working under the current paradigm. We need a change if something like 'full employment' is expected to be a positive thing.

We've only had near-full employment in the 90s and this year. (Japan also only just got there by improving employment of women.)

I'm not seeing the problems.

Re: A Caltech Nobel laureate celebrates his 100th birthday, then gets back to work

#229

Earlier quoted context omitted.

Agree with this. Am a software engineer and musician (composition). Exhausting to do both. But, have also found you can switch between them if you're a consultant. You work on medium-term length projects, build up a bank, quit, then focus on your other interest for a few months. Need to live frugally, but it is possible (have been doing this cycle for years).

Very interesting! Any chance you have written more extensively about this somewhere? I am a consultant but it's hard to get my clients to leave me alone for more than a week.

Haven't written on this, but can give you the important details of my form of consulting:

1) I tend to work at medium to large companies (Stubhub, Atlassian...) from anywhere from 7 months to 1.5 years. The reason being, as mentioned, that it's tough to do two things at the highest level at the same time. So I prefer to completely commit to one thing at a time - seems like for you, you have a lot of longterm clients that are constantly hitting you up for work. Guessing you're going to have to say no to new projects once you're ready to focus more on your interests.

2) So, when I'm working on a consulting job, it is my primary focus, and they get the best of me. And, I try to do at least 7 months of work, so that I do a substantial amount of work for them and they feel good about it - also, if you do too short a period, it will make it harder to get another job later on.

3) Although, it's important that while working at a consulting job, to keep up and improve your skills at whatever your outside interest is. Because if you don't, wow, you can really lose your skills and when your switch back to your interest, will need a ton of time to refreshing yourself. For me as a musician, this means would spend an hour a day practicing before work, specifically "sight-singing" as it is one of the most important skills for composition. In fact, would actually not just maintain the skill, but got a better at it over the course the consulting job.

4) When you have enough money and finish your consulting job, quit and switch back to your main interest. Will typically need to spend some time getting back up to speed. Sometimes this can take one month, other times (if you did a really long consulting job or you find a new skill you want to learn as is often the case for me) it can take a few months.

5) Now, fully focus on your main interest. You need to treat it just like regular work because it requires a ton of discipline, because it is so easy to get distracted and not do anything (I say this as I write this comment to you as a distraction from practicing:) For me, need a weekly work schedule (work mon - friday) and a daily routine to keep on track.

6) And just a suggestion about any outside interest. Work on smaller projects rather than trying to shoot for the moon. Because everything is takes a lot more work to do it at the highest level. Yeah, if I aim to create a music composition that I think will take a couple month, it often takes 3 or 4 times that, especially if I'm trying out a lot of stuff that I've never done before. I'd rather create something small that is really good than work on something large that I'll never finish.

7) And at least in my opinion, using this method, the quality of my compositions is quite high (at least to my standards) as they are my primary focus for months at a time.

8) Oh, and live cheaply. I used to live in SF, but moved way outside the city to save money (saved like 40% on rent, which went from $1350 to $700 - living with roommates in both situations).

Hope this helps!

Re: A Caltech Nobel laureate celebrates his 100th birthday, then gets back to work

#230

Earlier quoted context omitted.

> record keeping system of "points" related to work product of members, and an annual distribution of profits proportioned strictly on a point basis. This is hilarious :) It is so close. I called them 'stakes' but otherwise it is pretty much the exact same thing. I wonder how many other implementations of this idea there are out there. The company that is running using this idea is 'Infocaster', a project company in…

Good ideas are good ideas :-). Infocaster wins though for releasing a product, so far I haven't done that. Everyone I've talked to about it (and that has been quite a few people) have all nodded their heads and said "Wow, that is a really good idea, let me know when you kick it off!" But at the same time there is a chicken/egg problem of initial runway to initial payout. I've looked at a couple of lean ways to kick t…

The way we figured to best approach that is to simply create a set of tools that would allow others to use the core principles and then to see where they take it and adapt as requests come in.

There is a potential legal issue that I have yet to find a good solution to: whether you call them points or stakes doesn't really matter, but what does matter is that they take on some properties of stock and that means that in the eyes of the regulators they may end up being stock. And I haven't found a convincing way to argue myself out of that. This was pointed out to me by a notary public here in NL that otherwise thought that the idea had merit but had serious doubts about whether that part of it would fly, especially if it was employed at scale because essentially you'd be creating a new kind of legal entity out of thin air, a company that behaves in all but one sense like a traditional one but then there are 'shares' and 'points' and somehow the shares then end up calling the shots.

This flies in the face of what the whole thing should stand for and by working hard to say 'stakes' (or points) rather than 'shares' you end up in an undefensible position. I even caught myself once or twice thinking 'shares' rather than 'stakes' so he was making a very good point.

Have you thought about that aspect of it?

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