When you reflect on your thoughts and actions, you gradually grow as a person. In many ways, technology simplifies life,and it has many beneficial effects to the community and the human condition. If 2020 has taught us anything, it's that the key is to stay nimble, adaptive, and be prepared for unexpected change. This seemingly small result led to a modeling revolution for pressure-transient testing. Is this even nonpublic knowledge at all? 1. They were correct, but many of them would be surprised & disappointed how long it took., #326, Part II. Fedex, early on, couldnt make payroll and the founder famously kept the planes flying only by gambling the last of their money in Las Vegas, among other near-death experiences & crimesjust one of many startups doing highly questionable things.12 Both SpaceX & Tesla have come within days (or hours) of bankruptcy, in 2008 and 2013; in the former case, Musk borrowed money from friends to pay his rent after 3 rocket failures in a row, and in the latter, Musk reportedly went as far as securing a pledge from Google to buy Tesla outright rather than let it go bankrupt (Vance2015). And you know what? Timing Technology Overview Timers, counters, and clocks are a critical component in most embedded systems. How often did I read in the 90s and early 00s about how amazing Japanese cellphones were and how amazing a good smartphone would be, even though year after year the phones were jokes and used pretty much solely for voice? Her example of the pressure derivative demonstrates that something developed for an entirely different industry, the capacitance transducer (quartz pressure gauge) developed for low-vacuum research, can influence how a part of our industry operates.Andrew Lambert, Pillars of the Industry Editor. Absolutely, Amazon (which has rarely turned a profit and has sucked up far more investment than Pets.com ever did, a mere ~$484.8$300.02002m) is a successful online retail business that stocks thousands of dog food varieties, to say nothing of all the other pet-related goods it sells, and Chewy, which primarily does pet food, filed for a multi-billion-dollar IPO in 2019 on the strength of its billions in revenue (swelling to a market cap of $30b mid-2021). Imagine it is 1965. : Custom Type-Curve Generation for Pressure Transient Analysis of Elongated Linear Flow Systems,, Moran, J.H., and Finklea, E.E. But to come very near to a true theory, and to grasp its precise application, are two very different things, as the history of science teaches us. Daily events can be hard to wrap your mind around in some cases. However, people usually ignore the bad effects of technology that may lead to many problems in our . In their book Edisons Electric Light: Biography of an Invention, Robert Friedel, Paul Israel, and Bernard Finn list 23 inventors of incandescent bulbs prior to Edison. We tried something, or somebody else tried something, and it didnt work. Such a device would not have been aimed at the then unattainable goal of economic viability; but its successful demonstration might, just conceivably, have greatly accelerated matters when the time was finally ripe. 30 years later, its the same headlines. We can think of the prototypes as 23 different attempts to describe the inevitable generic lightbulb. A kind of definition of Value of Information: If you do not work on an important problem, its unlikely youll do important work. He had to publicize the companys successesa necessity for what was ultimately a commercial enterpriseand act as liaison between company laboratories and the academic and medical communities. While upper management panders to environmentalists, the young minions keep slogging it out, delivering the oil and gas that is desperately needed all over the world as though there will be no end to it. Its not the consequence that makes a problem important, it is that you have a reasonable attack. If we think about multi-level optimization systems & population-based training, and optimization of evolution like strong amplifiers (which resemble small but networked communities: Pavlogiannis et al 2018), that would suggest we should have a bias against both large and small groups/institutes/granters, because small ones are buffeted by random noise/drift and cant afford well-powered experiments, but large ones are too narrow-minded.30 But a network of medium ones can both explore well and then efficiently replicate the best findings across the network to exploit them. But you know what? I once was shown some data acquired in a water-injection well that was abruptly shut in from a flow rate of 30,000 BOPD. In RLs multi-armed bandit setting, each turn one has a set of arms or options with unknown payoffs and one wants to maximize the total long-term reward. She recently became Director of the Center for Energy, Environment, and Transportation Innovation in the Crisman Inst. How hard could it be? Jr.: An Investigation of Wellbore Storage and Skin Effect in Unsteady Liquid Flow: I. Analytical Treatment,, Horner, D.R. Jorge Luis Borges, Kafka And His Precursors (1951). As this happens, the way of life is eased, for example, the capability of communicating with people in far locations within a short time. During that time, I became interested in the notion that petroleum engineers might be better educated with a broader scope, what I would call energy engineering. His work modifies our conception of the past, as it will modify the future. In this correlation, the identity or plurality of men doesnt matter. Conclusion. Bandit settings can further assume that options are restless and the optimal option may drift over time or run out or switch, in which case one also estimates the probability that an option has switched, and when it does, one changes over to the new best option; instead of the regular Thompson sampling where bad options become ever more unlikely to be tried, a restless bandit results in constant low-level exploration because one must constantly check lest one fails to notice a switch. But equally, anything with that much potential has a high likelihood of failureif it was obviously a good idea with no risks, everyone would be doing it. This balances overall exploitation & exploration to progress as fast as possible, showing the usefulness of technological forecasting on a global level despite its uselessness to individuals. If your instructor demands a word count outside of this range, meet your instructor's requirements. ChristineEhlig-Economides, through her eventful career, has been there when many breakthroughs were made that have created a step change in our understanding of the mechanisms that govern the recovery of hydrocarbons. That old failed idea might be ready for prime time. So, it seems that rapid progress depends on crazy people. The concept behind antireflection technology is to control the light used in an optical device in such a manner that the light rays reflect from surfaces where it is intended and . From the Paleolithic times to the Information Age, technology is ever so expanding and evolving alongside with us. In reality, until quartz gauges were introduced in formation testers, this argument was highly ill-conceived, but it certainly provoked a lot of animated discussion. And Lanier implies that Japan alone spent a lot of money: Jaron Lanier: The components have finally gotten cheap enough that we can start to talk about them as being accessible in the way that everybodys always wantedMoores law is so interesting because its not just the same components getting cheaper, but it really changes the way you do things. (You too can achieve overnight success in just a few decades of hard work) A 2013 interview with Eric Jackson looks back on smartphone adoption rates: Q: Whats your take on how theyre [Apple] handling their expansion into China, India, and other emerging markets?, A: Its depressing how slow things are moving on that front. The loan guarantee from General Dynamics raised our hopes and increased our spirits, but also increased the pressure to finalize the private placement. Yet the principle of unripe time, distilled by F. M. Cornford [15] more than half a century ago from the changeless stream of Cambridge academic life, has provided the epitaph of more than one premature technology. So, what Babbage should have aimed for is not making a practical thinking machine which could churn out naval tables, but demonstrating that a programmable thinking machine is possible & useful, and currently limited by the slowness & size of its mechanical logicso that transistors could be pursued with higher priority by governments, and programmable computers could be created with transistors as soon as possible, instead of the historical course of a meandering piecemeal development where Babbages work was forgotten & then repeatedly reinvented with delays (eg. The three outstanding problems in physics, in a certain sense, were never worked on while I was at Bell Labs. Sunday Reflection: The Blessing of God's Timing. This presents a conflict between personal and social incentives. I was still commuting to Connecticut on the weekends and really did not know what was going to transpire on my return. There are some benefits and advantages associated or linked to having a day that is without the use of any technology. A portion of the output pulse of the microchip laser was incident into the fiber delay line, and then, the backward reflection light induced the formation of the pulse. In this case, the flowmeter acquires data while the well is flowing, which is what it is intended to do. Cell phones, computers, radios, watches, and many other devices rely for their success on an electronic oscillator that produces an output with a precise frequency to generate timing pulses and synchronize events. (DARPA indeed saw itself as much like a VC firm.). Enough progress in one domain (particularly computing power), can sometimes make up for stasis in another domain. The average of multiple plans is often worse than any single plan. Without the communication technologies in which the modern society relies heavily upon, the life as we all know it would cease to exist. These are tempting, but likely cant generate outsize returns because they are simply too obvious and invite too much competition that squeezes out the economic rents. Our signature selling point will be that it takes fewer lines of code to set up, so programmers will like us., LinkedIn: Well do social networking like has been already patented by SixDegrees.com, forcing us to buy their patent., Slack: IRC+email but infinitely slower & more locked in. (The most successful people I know believe in themselves almost to the point of delusion). End of preview. Bitcoin is a topical example: its still in the early stages where it looks either like a genius stroke to invest in, or a fools paradise/Ponzi scheme. Come and give me a word about those days. And he himself gave the answer for them: Every day is a good day.. 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