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Turning Scarcity into Abundance – 2019 AT&T Business Summit


[MUSIC PLAYING] Thank you, Kate. Thank you, Kate. Good morning, everybody. Glad everybody’s awake. Let’s dive in. I have 45 minutes. I want to share with you what I think is a view that, for me, makes me excited to wake up in the morning. We are living during one of the most extraordinary times ever in human history. I don’t think there is a more exciting time ever to be alive. It’s a time when every one of us, if we stop and think about it, have access to the tools to change the world. There’s never been a time where individuals have access to more information, more bandwidth, more capital, more computational power, and really, the ability to find a problem and solve a problem. And that creates for an extraordinary vision of the future. It’s also true that I think none of us really understand how fast the world is changing. And for a lot of people, that’s scary. But if you have a sense of where the trends are going, if you understand the dynamics of where technologies are converging, it’s really an extraordinary period of opportunity. So let’s dive in. This is the situation today. We have faster, cheaper computers that are the oxygen in the room, the foundation, or the growth medium upon which all these other exponential technologies are growing. Computation sensors, networks, AI, robotics, 3D printing, synthetic biology, augmented, virtual reality, blockchain, all these technologies are getting faster and faster as our computational speeds are accelerating. And it used to be that if you were running a company in any one of these, or if you were an entrepreneur building a tech on any one of these, that was enough. But today, it isn’t. It’s really the combination of two, three, or four of these that are creating these converging new business models. That is really where the excitement is, where the action is, where, in fact, for me, the greatest wealth is going to be created. And I think about the notion that we’re going to create more wealth in the next 10 years than we have the entire past century. We’re also going to transform every industry, every business. And I think that’s inherent in the fact that technology is accelerating. We’re seeing all of these forces accelerating the rate at which technology is accelerating. It’s no longer just increasing slowly. It’s increasing at a rate that is not really possible for our brains to understand. See, the challenge is our brains– 100 billion neurons in our brains, 100 trillion synaptic connections that make up everything we’ve ever known and have learned. Our brains evolved on the savannas of Africa hundreds of thousands and millions of years ago, and our brains evolved for that situation. That was a situation where everything was local and linear. Nothing affected you that you’d do that was not within a day’s walk. Nothing changed. Century to century, millennium to millenniums, our brains are local and linear pattern recognition machines. But today, the world is anything but that, right? Today, the world is global and exponential. Something happens in India or China, you know, you hear about seconds later, computers about it microseconds later. Things are not changing century to century or decade to decade, they’re changing year to year and month to month. And so if you were to graph, it looks like this. This red line, it’s all of us. It’s our shareholders. It’s our board members. It’s our kids. We have not had a hardware software upgrade in two million years since that prefrontal cortex came into existence. But the technology that you’re building that you’re investing in, that you’re using, is here. All of these technologies are doubling on 12- to 24-month centers. And the difference between us linear thinkers and this exponential tech is either disruptive stress or opportunity, depending on your point of view. And so let’s look at a few examples. In my second book, Bold, I talk about and open up with a story of Kodak, and it’s an important story. So Kodak, in 1996, at the top of its game. $20 billion market cap, 140,000 employees. What most people don’t know, what I didn’t know before I did the research, was that it was 21 years earlier when a guy named Steven Sasson, in Kodak’s labs, had come up with a digital camera. The first digital camera about the size of a small toaster took 0.01 megapixel images in black and white on a tape drive. And when Steven walks into the boredom of Kodak and goes, here it is, the future of Kodak, of course, what happens? They say, you’re kidding me. That’s a toy for kids. We’re Kodak. We make beautiful, high resolution images. And then there was the killer, where they said, besides, we’re in the paper and chemicals business. And I would posit that Kodak was not in the paper chemicals business. Their mission, from George Eastman, was to preserve people’s memories. And they didn’t hop on the first mover advantage they had. They didn’t hop on the new technology to enable that massively transformative purpose. And a few decades later, Kodak goes bankrupt. In the same year, another company, who’s in the business of preserving people’s memory, is a company called Instagram. Gets acquired by Facebook for a billion dollars with 13 employees. And people laughed at that acquisition price. They said, what a waste of money. Well, today, it’s worth $100 billion on their balance sheet. And this is what it looks like when a linear technology hops off a cliff. That yellow line is film. And we see this massive uptake as you jump onto an exponential tech. We see $1.6 trillion happy pics a couple of years ago. Here’s another example. You guys all remember Blockbuster, right? So two parts of the story. The first is when Reed Hastings starts Netflix in 1999, we see this linear growth period when these DVDs are going out via mail. And then Netflix hops on to a broadband exponential tech. And when you hop on such an exponential growth curve, you see this, from $2 billion to $150 billion over eight years. Now, the challenge is that Netflix, in late 2008, for the second time chose not to buy– I’m sorry, Blockbuster, for the second time in 2008, chose not to buy Netflix. And when you go back to the earnings call in that moment in time, this is what you hear. Netflix is not even on the radar screen, in terms of competition. I mean, how much more wrong could you be? And the challenge is when, as a CEO, as an executive in a company, you defend your position versus questioning your position and don’t hop onto the next technology to be able to deliver your purpose to your consumers. It’s deadly. So what we’re seeing is this, how fast can things change? You’ve seen these numbers. I want to put them on one chart for you. Here’s all the retail companies back in 2006. Down at the bottom is that small, little online book retailer called Amazon at $17 billion. And if you’d gone to these CEOs and say, listen, this company is going to eat your lunch, they would laugh. But 10 years later, the numbers are dramatic. Minus 90%, minus 75%, plus 3,000%, and now Amazon is bouncing between $800 billion and a trillion. What we’re seeing is a time where we’re going from I’ve got an idea to I run a billion dollar company faster than any time ever in human history. So my friend Chad Hurley starts YouTube on his credit cards and sells it to Google for $1.65 billion 18 months later. There’s no way to explain Uber and Lyft to Avis or Hertz. And why didn’t all the hotel companies in the world come up with Airbnb? Part of that challenge is going to be, what questions are you asking? Did anyone at Hilton or Hyatt or in Continental ever ask the question, hey, how do we double the number of rooms we have without spending a dollar of Capex? We’ll talk about the fact that it’s the questions you ask, as an executive and a leader, that are far more important than what you know. So check out this eye chart. On the far left is 2011. Each of these logos are unicorns, billion dollar startups. On the far right is 2015. And all I want you to see here is the frequency at which billion dollar startups are emerging. And it’s not that any of these companies or executives are smarter than any of us here in the room. It’s that they are able to experiment and try crazy ideas more frequently than being inside the context of a large organization. So let me share something I think is one of the most important ideas I’ve ever learned, which is the day before something is truly a breakthrough, it’s a crazy idea. If it was not a crazy idea the day before, it wouldn’t be a breakthrough. It would be an expected linear improvement. So I ask, where inside organizations are you trying crazy ideas, are you hearing a crazy dude say, let’s run the experiment. Let’s look at the data. So what we’re seeing right now is exponential growth. And I ask the question, what does it feel like? All of us are linear thinkers. I have two eight-year-old boys. I talk to them about this. You know, 30 linear steps, 1, 2, 3, 4, 5. I’m 30 meters away. I’m midway through the first part of this audience. If I go 30 exponential steps, again, what the brain is not wired for, the simple doubling, 1, 2, 4, 8, 16, 32. In 30 doublings, I’m not 30 meters away, I’m a billion meters away. Put differently, I’ve gone around the planet 26 times. And the difference between us linear thinkers and the growth of our technology, exponentially, is what is disrupting companies over and over again. So of course, all of this today is riding on top of Moore’s law. Here is Gordon Moore. In 1965, he publishes a very famous paper. He says for the last seven years, we’ve been seeing the number of transistors on a piece of silicon roughly double every 12 to 18 months. And it’s likely to continue. It’s continued for 50 years, and we’ve given it the name of Moore’s law. I want to give you a visualization of what that looks like. This, in 1958, was the first integrated circuit. Here’s two transistors about a centimeter size each. Fast forward to Intel’s first commercial product in 1971. About $1 per transistor, 2,300 transistors. Now let’s fast forward to their top of the line today, the core i9. 7 billion transistors, less than a millionth of a penny each. And this is a $27 billion fold price performance increase. And it’s this kind of massive transformation of computational power that has driven today’s explosion of tech. But it’s hard to think about what’s $27 billion fold better. Let me give you another visualization of what this looks like. Back in 1956, this was a five megabyte hard drive. And if you happen to have your cargo airline, you can move it from office to office. $120,000, shipping not included. Now, we notice when this happened, right? Now, this is 25 times more memory for 1,000 times cheaper. 120 megabytes for 99 bucks. But didn’t we notice when this happened, when, nine years later, right on schedule, it’s 1,000 times more memory for the same price. And of course, it’s not stopping here. Now it’s a terabyte for something that you can lose in your pocket. My co-founder of Singularity University, Ray Kurzweil, and I are advisors, investors in a company whose mission it is, using nanotechnology, to put Google’s data centers on the sugar cube. This is not slowing down. And so this 10 trillion fold improvement is not something that we, as individuals, really grok. We can’t think exponentially. What we can do is reset, this is now possible, this is now possible, this is now possible. So this is computation over time, over 110 years, from Ray’s book the Singularity is Near. And if you continue this forward, what you get is the following. By 2023, four years from now, the average $1,000 is now buying you the computational power of the human brain, 10 to 16 cycles per second. And 25 years later, now $1,000 is buying you the computational power of the entire human race. Now your kids’ homework gets really easy. So I think about this. I think about the notion that whatever we’re digitizing, and all of us here are in the business of digitizing products and services, enters a period of slow deceptive growth– that first digital camera was 0.01, then 0.02, then 0.04 megapixels. It all looked like 0. And then, all of a sudden, 30 doublings later, the film camera is gone. It’s disrupting. And ultimately, what we see is dematerialization, demonetization, and democratization. And I would say that every one of us here in the room is in this business. Let me slow this down. This is dematerialization, the fact that 20 years later, all of these things fit in your pocket. They’re 1’s and 0’s. And the cost of replication is marginally 0. The cost of transmission is marginally 0. And as you dematerialize, you’re demonetizing. New products and services are getting cheaper and more available. And at the same time, we’re democratizing, being able to no longer serve just your city, just your town, just your nation. You can serve the world. So I think about the fact that technology is taking what used to be scarce and making abundant. It’s the story my first book. And it was a realization that, hey, what do we think of as truly scarce? And isn’t this all changing? Let me give you one of my favorite examples. There is a company that a friend of mine runs in the Bay Area called the Diamond Foundry. Now De Beers and every jewelry company would have you believe that diamonds are extraordinarily scarce, and of course, natural diamonds have some level of scarcity. But the Diamond Foundry is a machine about the size of a refrigerator, and one end comes water, methane, and electricity. Out the other end comes perfect diamonds, three carats, four carats, five carats. How big would you like it? Seven, eight, nine carats. Would you like imperfections in it? You can add that. Would you like some color? No problem. Now, I want to show you what a true diamond ring looks like coming off of their machines. So we’re heading towards a world, all of a sudden, that things that were preconceived as scarce are becoming abundant. It was not too long ago that high bandwidth communications was something that was massively expensive. I remember when my internet bills for broadband, back in 2000 from Akamai, were my single one expense. Today, it’s millions of fold cheaper. And the benefit is that everybody gets to build businesses on top of that. So what would you think of as scarce? Energy, water, health care, learning, time, money, resource, expertise? Energy is not. We used to go kill whales on the ocean to get whale oil to light our nights. Then we ravage mountainsides for coal. Then we drilled kilometers under the ocean floor for oil. Today, we’re living in a world that’s bathed in 6,000 times more energy from the sun than we consume as a species. And the price per kilowatt hour of solar is plummeting. We’ll talk about some of these. Let’s start with, of course, what we’re here to talk about, which is communications. We’re heading towards a world where everyone, everywhere is always connected at low cost. 5G AT&T, that’s the enabler, is the kudzu growing around the planet. Always on, always connected, 100 times faster. At the same time, what we’re seeing is an explosion of global satellite networks that are going to be deploying around the planet to give me coverage in the Himalayas or the Gobi Desert. But the implications are the important part. In 2017, half the world was connected, 3.8 billion people. In the next five to seven years, we’re about to connect every single human on the planet. Not like I came online at 9,600 baud, right?. We’re connecting four billion new minds at gigabit connection speeds, with access to quantum computing on the cloud, if they want, with access to billion spin up 1,000 processor cores on the cloud, with the ability to manufacture on the cloud. These four billion minds are all going to want everything delivered to them digitally on their mobile devices. Finance, insurance, health care, education, all of these things. And so what are these four billion new minds going to want? What are they going to create? What are they going to desire? They represent tens of trillions of dollars flowing into the global economy. And for me, these four billion minds that are about to come online, they’re all entrepreneurs in the past to survive, in the future to create and solve problems. I think that this inflection of global connectivity, connecting those minds to the cloud, is going to create a massive uptick in the rate of innovation. And it’s not just everybody, it’s everything being connected. My friends at Cisco talk about 20 billion connected devices next year, a trillion sensors. Let’s go to 2030 with a half a trillion connected devices and 100 trillion sensors. We’re seeing this estimate of $6 trillion for IoT by 2025. So what I find interesting, though, is this. We’re about to head to a world where everything is being sensed all the time, everywhere, hundreds and thousands of satellites in orbit, millions of drones in the atmosphere. Every autonomous car generating 750 megabits of data per second as it’s going down the road. Augmented reality, you’re magically wearing HoloLens glasses, looking forward and seeing things in millimeter resolution. We’re heading towards a world where you’re going to be able to know anything you want, anytime you want, anywhere you want. You can ask any question. So imagine, if you would, that if you’re in the fashion business in the future, you want to know, hey, what is the average spectral color of a man’s blazer on Madison Avenue? You can ask that question, and the sensors are there to image it and your AI is there to process it and give you that answer. And then say, hey, does it correlate with any kind of an advertising campaign in the last 30 days? So I would posit, as I teach my kids and I’m in the boardrooms of companies, I’m saying, it’s more important the questions you ask, not what you know. Because we’re heading towards a world in which we had this trillion center economy, where you can start to get answers to crazy questions and drive new business models that were not possible before. Let’s talk about transportation. So it’s something I’m very excited about, just the future of transportation. Of course, this is the first autonomous Prius that Sebastian threw in and Google built. Larry, Sergey, and Eric. And the question is, how fast are autonomous cars going to change our lives? When are they going to come in and transform how we live and where we work? Well, there’s a great analogy, if we go back to the past century. This is the year 1904. And if you look in the streets of New York, there are two cars in the photograph here, about a 10% penetration of bespoke, expensive automobiles. If you fast forward just 13 years, from 1904 to 1917, this is what it looks like. The horse and buggy is gone. And now, interestingly enough, in 1904, if you read what it was like back in the early 1900s, New York City’s streets stank from horse manure and horse urine. That was the pollutant of that transportation day. And then this technology called cars came along and displaced that pollutant. So the question is, when are we going to see, and how fast might we see, the transition from human-driven cars to autonomous cars? Well, this is how fast the transition occurred. In 1908, the first mass production car, called the Model T, came online. By 1912, there were more cars than horse and buggies. It was fast. When something is 10 times cheaper, 10 times better, 10 times easier, people switch. So of course, we’re seeing massive investments by a multitude of different companies, from Waymo and Tesla and Cruise, into autonomous cars. And the future, in my mind, of an autonomous car looks like this. We’re sitting at breakfast with your kids or your wife, your husband, and you get up and you walk towards the front door to go to your meeting. Your AI knows your schedule. It sees you walking to the front door. It’s had two autonomous cars circling the block. As you open the door, one pulls in front of you. You have your Oura ring sleep data. And your AI knows you didn’t sleep well last night, so it pulled a car up with a bed in the back. The world is becoming automagical for you. It’s automatic and magical. It’s responding to your needs before you know you need them. Now, of course, because you’ve sold your car some time ago, you can convert your garage into the spare bedroom, your driveway into a rose garden, whatever you want. But more importantly, it’s transforming how and where we live and work. We’re seeing massive investments going on in China. Just came back there. The government is investing in cities and autonomous car programs to really drive the data collection. But it’s not just autonomous cars. We’re seeing it’s also flying cars. We’re seeing about almost 100 startups in the EV, Electric Vertical takeoff and landing. We’re seeing the majors from Airbus and Bell, which changed it’s name from Bell Helicopter to Bell. And Boeing and Embraer. And about a billion dollars a year going into these vertical takeoff and landing capabilities. And Uber’s Uber Elevate program is going to be testing here in Dallas and in LA in 2021. Operation’s hopefully in 2023. But all of a sudden, it unlocks the value of real estate. I live in Santa Monica, where the real estate value is really expensive. 10 miles that way by the crow flying is to Pangaea Canyon. I can buy three times the house, but it can be an hour and a half drive. But there’s lots of room to land one of these vehicles. So we’re going to see a transformation with virtual reality, augmented reality, flying cars, autonomous cars, an entire real estate marketplace, the insurance marketplace. A lot of changes coming. Another big area is, of course, a meta-trend of human-robot collaboration. Let’s take a look at where robotics are today. This is a friend’s company, Boston Dynamics. This is the Atlas robot. And what we’re seeing here is amazing capability. Mark Raibert has been building better and better robots, but what’s really transforming this is not the machine, it’s machine learning. It’s the ability for the robot to be driven by, effectively, neural nets that mimic how the human gets along. That was 2018. Here is 2019. This is Atlas with some new tricks. And of course, this is owned by Mosseson and SoftBank. Japan is going to need robots for its elderly population. It’s going to need robots for manufacturing, robots for taking care of people, robots to really displace a missing workforce. Ta-da. So this comes out of Google Brain. And this is a demonstration of what machine learning and neural nets look like actively. So each one of these robots is making an attempt to go and pick something up. And every time it fails, it says, OK, that doesn’t work. Every time it succeeds, it reinforces a neural pathway to learn better. Now, the beautiful thing about this is as those robots are linked together, every time one robot learns, they all learn. It’s as if you were back in eighth grade algebra and the kid in the front row learned algebra first, and all of a sudden, the entire class knows algebra. So this is what we’re going to see, is that, literally, it’s not just teaching one robot, one autonomous car at a time. It’s teaching the entire operating system that’s supporting every single flying vehicle, driving vehicle out there. And of course, AI, and I’m sure you’ve spoken at length. I love this quote from Sundar, the CEO of Google. “Artificial intelligence could have more profound implications for humanity than electricity or fire.” And I believe that is true. I want to share with you one video that I think is one of the most telling videos, and I share it with every audience because it’s important. So DeepMind, one of Alphabet’s companies, one of Google’s companies, back about two years ago, Lee Sedol, in the game of Go– it was predicted that Go would be won in the late 2020s. It was won a decade earlier by an AI. So AlphaGo was the name of their AI that won against Lee Sedol, three games, or four games to one. And I think Google gave them that game so it didn’t seem too threatening, personally. And listen to what their new AI, called AlphaGo Zero, is able to do and how it does it. Really important. Let’s play that video. [VIDEO PLAYBACK] [MUSIC PLAYING] – When we played against Lee Sedol, we actually had a system that had been trained on human data, on all of the millions of games that had been played by human experts. We eventually found a new algorithm, a much more elegant approach to the whole system. Instead of learning from human data, it learned from its own games, and that became a project which we called Alpha Zero, zero meaning having zero human knowledge in the loop. – The next stage was to make it more general so that it could play any two-player game. Not just Go, but things like chess and Shogi, which is Japanese chess, and in fact, any kind of two-player perfect information game. – What we discovered was that, actually, this exceeded all of our expectations. – Alpha Zero could start in the morning, playing completely randomly, and then by tea would be superhuman level. By dinner, it would be the strongest chess entity there’s ever been. – After about eight or nine hours, it was strong enough to be able to go out and defeat Kasparov, the incumbent world champion, a program which was vastly stronger than Deep Blue, the program which had previously defeated Kasparov. [END PLAYBACK] Learning without any human data, learning by playing within the rules against itself, that every time it elevated, it played against itself. So the question is, what else is game play? The insurance market, the investment market, the real estate market? Where are we going to see AI coming in? Now, the advantage here that we have as humans is in collaboration with AI. Whenever you play an AI against a human, the AI may win in a lot of these games, but when you play an AI and a human and team against an AI, the team wins. I love this example. I think this came out of Columbia. It’s an AI program called LawGeex. And what they did is they trained this program to review agreements, contracts. And so they took a contract that had a number of flaws in it, known flaws, and they gave it to the AI and said, analyze this contract. And they gave it to a team of lawyers and said, analyze this contract. And here are the results. The humans took 92 minutes and got 85% accuracy. The AI took 26 seconds and got 94% accuracy. Let’s talk about augmented intelligence. One of the most important things that a nation or a company can do is increase the intelligence of its workforce. There’s nothing more important. By 2021, AI augmentation is a $3 trillion and a $6 billion productivity savings. So we all remember Jarvis from Iron Man. Jarvis is that AI-augmented reality combination that is able to provide Iron Man just-in-time information, literally answer questions, integrate information and deliver it to your visual cortex just at the moment that you need it. And of course, we’re seeing amazing investments going on with Microsoft and Magic Leap. My friends at Magic Leap are doing an amazing job. Apple, Google, all of these companies. And the question is, how is this going to transform the world? For me, future training is not necessarily going through four years of medical school and eight years of internship and residency. It’s being able to be given the information you need at the moment you need it, just in time. And it’s going to be the flexibility of the person to learn as they need it. So here’s another example of human machine augmentation. I run the XPRIZE Foundation. We’ve launched about $200 million in XPRIZEs. Launching another $200 million in competitions. This is an XPRIZE we launched, funded by A.ll Nippon Airways. It’s called the Avatar XPRIZE. We asked teams to build a robotic avatar that you, as a human, can occupy. I want you to imagine in the future, where I’m not here in Dallas, I’m back home in Santa Monica in my pajamas. It’s 6:00 AM in the morning there. And I have got a Magic Leap headset on. I’ve got an augmented body suit. And as I walk around, that avatar walks around. As I see through its eyes to you, you see me. I feel like I’m here and you feel like I’m here. And for us, this is going to be the early days of disaster relief and health assistance. We have over 100 companies registered and working on this competition from 15 countries. And its ability of not only democratizing, but delocalizing ourselves. And the ultimate augmentation of intelligence is happening here. So we’re seeing, again, about a billion dollars a year going into connecting the neocortex of your head, your brain, to the cloud. So Kernel– I don’t know if any of you saw the webinar done by Elon, Neuralink back about two months ago or so, OpenWater, Facebook, Google, all of these companies. It turns out that our 100 billion neurons in our brain, we can’t grow anymore brain tissue. We are, basically, landlocked by the birth canal. And our brain played a trick a few million years ago of getting these neural folds to increase the amount of neural cortex in our brain. But that’s ended. But just the same way that my phone here goes out to the AT&T cloud, to the edge of the cloud, to process complex information and brings back the answer to my phone, that’s what we’re going to be doing with the brain. So the prediction that Neuralink had, they said they’re in primates right now. They’re going to be in human testing by the end of 2020. Their projection is going to be a 32 gigabit connection speed from the motor and sensory cortex of the brain out to the cloud, initially for people with cervical fractures who are locked in, who can’t sense or control anything. But this is just the beginning. This was a Time magazine cover. My friend, Ray Kurzweil, has a set of predictions he’s made. He’s got an 87% accuracy rate, if you google it on Wikipedia. And his prediction for when we’re going to create high bandwidth connections between the neocortex and the cloud is 2035. So the question is, what happens to our society and to our world when my broadband AT&T connection is not just from my device, it’s from my brain? I think things are going to change in an interesting fashion. All right, the last subject I want to cover here is an important meta-trend, I think, for all of us, which is that we’re heading towards a world in which we’re going to double the human lifespan again. So it used to be that, as humans, 100,000 years ago, we would go into puberty at age 13, and by the time we were 13, we were having a child. And by the time we were 26, our kid was having a kid. And in that moment in time, before there was McDonald’s and Whole Food, when food was scarce, the worst thing you could do for perpetuation of the species was to take food out of your grandchildren’s mouth. So as we look at it, we see that, in fact, the human body was never truly designed to live past age 30. But we’ve changed that. And my mission is, how do we make 100 years old the new 60? And there are billions of dollars per year going into extending the healthy human lifespan. Health care today is really sick care, but we’re heading towards a future of health care. Now, through the companies I’ve started, the companies I’m investing, supporting, there’s about 600 or so longevity companies at different stage of financing out there. Let’s talk a little bit about what they’re doing and how they’re going to transform our lives, because at the end of the day, having a population of individuals that are growing healthier and living longer is going to affect every single business here. So one of the companies that I’ll share with you is called Human Longevity, and their product is called the Health Nucleus. You go for three hours and you’re digitized. Your entire genome, all 3.2 billion letters are sequenced. Your microbiome, your metabolome, a thousand metabolites, full body MRI, brain vasculature, brain MRI, coronary CT, lung CT, 150 gigabytes of data, in three hours, downloaded about you. And then that is, of course, fed into the machine learning, data mining database. Now, here’s the challenge. This is more data than any human physician could ever understand. And all of us are optimists thinking about how we’re doing. But the reality is every single person is always developing cancers. We are developing cancers all the time. Our immune system is there to knock them out in the very beginning. And when the immune system fails, that’s when we develop a cancer. So here are the results. This used to be $25,000 a visit. It’s now about $6,000 a visit, though it’s demonetizing. And this is from the first 1,200 patients. Now, these were all wealthy individuals who could afford a $25,000 visit. Here are the numbers. 2% of those individuals, two out of 100, had a cancer, a high-grade cancer, they didn’t know about. Two had a brain or an aortic aneurysm they didn’t know about. 3 and 1/2% had a significant cardiac condition they didn’t know about. We’re all optimists, right? I’m a pilot. I fly a couple of airplanes. When I get in my plane, I don’t take off until I know everything is green and ready to go. For most of us, we have no true idea what’s going on inside our bodies. So the bottom result here was that 14.4% of these individuals had life-saving findings coming out of this exam. And so we’re heading towards a world where telemedicine was retroactive, and the only time you went to the hospital is when you had that problem. And guess what? That problem didn’t start that morning. It’s been going on for months or years. But we’re going to transform medicine into a proactive, personalized, and predictive, where you catch disease at stage zero, when it’s the most solvable. Here’s another area that’s going on. It turns out that if you look at that chart, this is Age along the bottom and this is Stem Cell Populations. We exhaust our stem cells. And our stem cells are our regenerative engine of our body. It’s what goes and fixes broken tissues, neural, connective, musculature, whatever it might be. But if you see, we exhaust our stem cell populations by the time we’re into our early to mid-30s. So there are a number of companies today focused on, how do we replenish your stem cell populations? One company that I love is using placental-derived stem cells. Placentas are the 3D printers that manufacture the baby. Here’s another company, who’s a friend of mine, Martine Rothblatt. She runs a $4 billion pharma company in the space of lungs. And she is working on 3D printing lungs. So this is cartilage 3D, printed into a lung scaffolding, that is then put into a stem cell bath to regrow the alveoli for the lung. You can see it close up there. It turns out that our cells in our body can replicate 50 times. It’s called the Hayflick limit. At the end of 50 replications, three things happen. Number 1, they should die to make room for new cells to come. Or number 2, sometimes they turn into cancers, because they lose their limitations and replication. And a lot of times, they become senile cells. They hang out and they just put out inflammatory factors. So there are a number of companies. This is one called Unity Biosciences. It was backed by Jeff Bezos, in which they’re discovering these senilitic medicines, medicines that will go and find the senile cells in your body and kill them and make room for new cells to grow. And what we’re seeing, at least in animal models and some human testing right now, is a 30% increase in lifespan. This is another friend. This is Osman Kibar from a company called Samumed in San Diego. It’s a $12 billion dollar private company you’ve never heard about. And their technology is called the Wnt pathway, W-N-T pathway. Its cell to cell communication. And what they have in phase 1, phase 2, phase 3 clinical trials is nothing short of miraculous. It’s what gives them a $12 billion valuation as a private company without revenues. As a company, they have a hold on stopping eight different cancers dead in its tracks, Alzheimer’s, getting rid of wrinkles, regrowing hair. It is extraordinary. I’ll close on this book called Lifespan that just came out from a friend of mine, David Sinclair, who heads longevity at Harvard. It’s one of the best books I’ve read in the last decade. If you’re looking for a great book, Lifespan is amazing. David has put forward what he considers the information theory of aging, that, in fact, there is a part of our genome called the sirtuin system that has two functions. One part is it has to regulate what genes are on in your body. The other part is it corrects DNA damage. And as we age, the NAD that powers that system is reduced, and the sirtuin system becomes less effective so we can no longer regulate and repair at the same time. And that’s what he believes, and is showing right now, is why we age. David takes the position– I agree with him– that aging is a disease, and that we can not only slow aging or stop aging, he believes we can reverse aging. So I want you to imagine the following. I want you to imagine that in the next 10 to 20 years, we’re going to add another 10 to 20 years onto your lifespan. How does that change the way you think? And by the way, during these 10 or 20 years, technology doesn’t stop. We’re seeing this massive increase in how AI and quantum computing and sensors and networks and CRISPR and gene therapy and CRISPR Cas9, all of those things are going to transform our ability to understand why whales and sharks and turtles can live 400 or 500 to 700 years, and why we don’t. So I would posit that we are truly living in an extraordinary time. I’ll end on these few thoughts. A negative mindset will never give you a positive life. I’ll remind you what I said in the beginning, that we are living through the most extraordinary time ever in human history. As I teach at Singularity University in Abundance 360, “The world’s biggest problems are the world’s biggest business opportunities.” Want to become a billionaire? Help a billion people. That’s the world we’re living in. We’re living in a time that is extraordinary. And I’ll close by saying, don’t blink. It’s moving fast. Thank you. If you’d like a copy these slides, you can just send an email to [email protected] My server will send them to you. I wish you an amazing, amazing event here. Thank you to AT&T for having me. Have a blessed day. [APPLAUSE] [MUSIC PLAYING]

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