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Welcome to Inventum, a cutting-edge technology company that empowers businesses with a comprehensive suite of advanced networking solutions. With our specialization in providing top-notch routers, gateways, access points, CPEs, B/OSS, cloud services, lawful logging, cloud controllers, network ...

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Inventum | 5,372 followers on LinkedIn. Routers, Wi-Fi, B/OSS &amp; other data networking products made in India | Inventum builds routers, security and software systems that power some of the world&#x27;s largest communication networks. Our products are used by mobile operators, FTTH providers, ISP, ...

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We develop high-technology products in multiple domains as well as offer engineering &amp; professional services to global customers. With humble beginnings in India, the company created the first Edge Routers, Service Routers, BNG &amp; DPI routers entirely indigenously as far back as 2006. Inventum’s ...

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Inventum Technologies has 5 employees across 2 locations. See insights on Inventum Technologies including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft.

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Welcome To Our IT Solutions Company! We Provide The Best IT Services And Solutions That Cater To Your Business Needs. As A Reliable Software Developer Company, We Use The Latest Technology To Offer Customized Solutions That Help Your Business Thrive In Today&#x27;s Digital World.

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Service Provider of Unify IT Solutions, Internet Networks Simplified &amp; Unify Cloud Services offered by Inventum Technologies Private Limited from New Delhi, Delhi, India

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Inventum is a technology company that develops products and technologies for fixed and wireless networks. Company services include software-defined networks, network function virtualization, high-speed routers, network security, Internet policy management systems, AAA infrastructure, revenue ...

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Technology Company Specializing in Advanced Broadband Solutions for Service Providers and Businesses Since 2003

Inventum Technologies

Keynote speech given to kick off Hack Generation Y on January 24, 2015 Welcome to ! Hack Generation Y But wait: what do we mean when we say “hack”? What’s going on here? We mean to build new logical systems that go beyond what has been built before. This goes beyond quickly writing a fart sound application. We’re counting on you to surprise us, to build things that weren’t anticipated. And surprises are a good thing to optimize for because they imply that you had one set of beliefs about the world and observed something contrary to those beliefs. They’re fantastic opportunities for learning. If life has become very unsurprising and boring you either aren’t paying very much attention to it or have such vague beliefs about the world that your beliefs aren’t meaningfully predictive. I mean, heck, we still find gravity surprising — we find space probes in different places than they ought to be. Good technology lends itself to surprises as well, largely in its ability to reprogram us. Take writing. Writing is a technology. Your brain has portions devoted to language: the Broca’s & Wernicke’s areas, but reading and writing were invented technologies. But your brain is plastic enough that it’s capable of quickly and systematically deciphering different symbols or glyphs and compositing them together into sounds, even if the system for doing so makes very little sense like English instead of something sensible like Spanish or better yet Korean. You can learn to transcribe Korean in about twenty minutes. You won’t have any idea what you’re saying, but you’ll write it about correctly. Anyhow, writing allowed thoughts — any thoughts — to be preserved across space and time. You had no idea who would be directly impacted by your thoughts — they could come centuries after you were decomposing in the ground and completing the nitrogen cycle. Beowulf and Gilgamesh strove to live extraordinary lives in order to be remembered by the bards who passed legends on by word of mouth, but once a culture included writing, it was authors like Plato and Aristophanes who could truly live forever. If we can say that writing allowed preservation of a thought across space and time, then code allows preservation of a verb similarly. Because code performs a symbolic manipulation: there are some inputs to your program and as a result your program performs some outputs. The program is a tool that performs action. It is a verb. If you have a good sort of program, it can take inputs from surprising sources. If its outputs are interesting, they may be consumed by other programs in turn. This concept is the basis for the Unix pipe; flowing data from one bit of code to the next. Unix allows for these small pieces of code to be loosely joined through casual convention of standard output formatting much in the same way that the daemons of the Internet communicate via protocols that largely inherit this casual and reusable syntax. If you want your ideas to live forever, write. If you want to be able to perform actions forever, code. Here’s an even edgier thought: you are helping build the Borg. What you are contributing is a combined intelligence. When you search Google, you’re not just asking a computer some questions; the answers were almost all written by humans. But those answers would be useless without a computer to guide you to the right ones. So much of what you do online today is consulting with a lovely synthesis of machine and human intelligence. The Singularity is already here — the Internet is smarter than any one of us, almost by definition. But it’s not humans versus computers any mores than we could describe the cells in your body as waging war against the mitochondria that power them. Instead the two are already inextricably linked. Let’s be honest — how many people out there today could survive in the raw wild if they were tossed, naked, with no implements? We are already beings with a codependence on technology. Our tools master us even as we master them. The two cannot be disentangled. Pierre Teilhard de Chardin & Vladimir Vernadsky saw this coming a hundred years ago with the rise of telegraphy and saw the emergence of a global super intelligence, a sphere of thought or “noosphere” that could be studied as a separate layer of Earth just as the biosphere can be studied as related to but distinct from the geosphere. And that’s from a Jesuit paleontologist and Russian mineralogist! Vannevar Bush saw much of this coming half a century ago when right after World War II he penned “ ”, which discusses the implication of having tools to powerfully enhance the mind available at all times and the extension of the species beyond the capabilities of an individual. Yeah, that’s basically Google Glass he sketched out there. In 1945. As We May Think But Bush missed out on a critical theme of the power of interconnected thought emphasized by the noosphere. Consider each of us as neurons within a larger brain. We take in some inputs, perform rational and creative work upon them, and produce some outputs. The more and broader inputs you have, more precise and refined processing you have, and the broader distribution, the more critical a role you play within the brain that is our species. I’ve been starting to look into this field called “Deep Learning”, and strongly recommend that you do too, because it’s changing how we think about computing altogether. We’ve built a new kind of processing that works very differently than classic “if this then that” kind of Von Neumann architecture, but rather that forms its own sense of how it can best compute a good set of outputs given some inputs and a training set of data with known correct outputs. Lots of individually trainable neurons participate in multiple layers of cognition — it’s the depth of these layers that makes the field called “Deep Learning”. And the field has been advancing very quickly in the past few years with the introduction of convolutional neural networks capable of reasoning with surprising intuition about photographs and speech. You can hand a picture of a deer to a computer that has never seen a deer before and it will say “well, I see there an eye and there an eye and there a mouth and some legs and based on that I would reason that there is a tall mammal with thin legs in the picture and in the background I see a lot of things that are tall and green and so are probably trees, so I would reason I’m looking at the kind of tall thin mammal that is in a forest, and based on some reading I’ve done about the world, that’s probably a deer.” You can hand it another picture and it will say “Those are two elephants on a plain with a red Land Rover behind them” in plain English. The advances in the past few years have been just outstanding. It’s a new way for computers to reason and it’s very powerful. It’s clear that these Deep Learning networks can solve a surprisingly vast array of problems; you know how Google’s speech recognition is quite good? That’s a Deep Learning network at work right there. Getting smarter every day, too. You’re helping train it every time you talk to Google! These kinds of systems are better programmed on GPGPUs than CPUs; they will need new kinds of programmers writing new kinds of code that will run not on a handful of cores at once but thousands. The good news about computers is that things are always moving so fast — you won’t get bored! But watch out! or before you know it some kids in high school will be coding circles around you. ;) I recently invested in a company called that is using these kinds of deep learning techniques to find new, safe drugs to combat diseases without a known cure like Ebola. Their algorithm basically goes off and reads all relevant scientific research ever done on any chemical and then tries fitting what it learned to the specifics of a given problem. If you do this right, you find a safe, known chemical that just so happens to have the kind of shape that blocks the mechanical action of Ebola attaching to your cell well. Boom, you just used an algorithm to find a cure for a disease. And this is just one application of deep learning. Chematria One of the neat things I came across in researching Deep Learning networks was the concept that you can roughly judge the complexity of a system by the number of synapses it has even moreso than how many neuron-equivalents it has. A mouse has about 71 million neurons but a hundred billion synapses. The human mind has a very large number of neurons — about 100 billion, or a thousand times as many as a mouse — but even more astonishingly, each neuron has as many as 15,000 synapse connections. The net result is that a three year old has a QUADRILLION synapses. That’s insane. A quadrillion. The best Deep Learning machines out there have the equivalent of about a billion, or as many synapses as a honeybee. We’ve got a ways before you can upload your brain to the cloud and have it process just like you do. ☺ But beyond making digital versions of your consciousness, there are some really big problems that are unsolved. If the power of a neural network is proportional to the number of synapses, perhaps we could draw a corollary to the power of the Internet scaling rapidly with the number of people who are connected to it. After all, an Internet with just yourself is not a very exciting place to be. And with just your friend, it’s a point-to-point medium but not that much more interesting than just talking. With three people, now things get a lot more interesting — you can talk to one friend, the other friend, or both friends at once. And same for them. The interestingness of the network scales as the number of subgroups that can be formed — Reed’s Law, O(2^N) — which grows even faster than the number of distinct possible pairings (N^2), or Metcalfe’s Law. If you really believe this, you’ll understand a moral mandate to get the whole world online. Because for every brain that exists out there, having interesting thoughts but unheard by others, unable to build on the world of others already out there, that is a waste and we all are radically less intelligent for having that individual not able to participate. So we need to get everyone online to realize the noosphere and be able to solve really difficult problems with a synthesis of human and machine intelligence. This is why I’m at Google and what I’m working on; finding ways to accelerate the pace at which we’re getting everyone online. Only about three billion people today are connected to the Internet, of the 7.2 billion people who are out there. A lot of the things that you might guess are big barriers, like the Internet costing way too much money or simply not being available where people are, turn out to not be the biggest issues. A lot of what we’re dealing with is more complex; in India, only one woman goes online for every three men who connect. There’s a bigger gap there than what can be explained by economics or education alone. Are you sure you want to be perceived by your community as the sort of woman that goes online? That’s a question that some have to deal with and that can be challenging to answer in the affirmative with over intrusive uncles, brothers, fathers, and cousins. Sri Lanka has some of the cheapest cellular retail data rates in the world and yet only a fifth of the population is connected — it’s not strictly a matter of affordability, it’s a matter of whether the Internet is seen as “worth it” to them. And in a lot of these places, the Internet seems like a frivolity or a luxury — it’s not clear what people will get out of it. Or they don’t speak English. The Internet is a lot more exciting of a place in English — you have this vast corpus to search when you go to Google; there are billions of videos to check out, millions of songs and applications for your phone, and a keyboard, QWERTY, that is about the same pretty much everywhere. Now, good luck if you have a language with its own custom script. The problem is not literacy per se — the species has made some really tremendous progress on literacy in the past decade or so, there are well under a billion people who are illiterate today — the problem is the Internet’s poor support of languages other than English. Now, on the one hand, you can go and teach everyone English. That absolutely works, but I also think it’s kind of imperialistic and arrogant; it would be better if we could build tools that help people capture and share great content in any language. This all is to give you a hint of the kind of problems that we’re up against at Google working on Internet access. You need to build the infrastructure, doing crazy things like coating the entire stratosphere in balloons that speak Internet, but you also need to make sure that if you build it, people will come, which is to say making sure that you are building the kind of Internet that everyone wants. And this gets to the nugget of what good product management is; understanding what people want, sometimes even better than they can express it. Henry Ford may have once said, “if I had delivered what people had asked me for, I would have given them a faster horse.” If you just build what people tell you to build, you will tack lots of different random features together and end up with a monstrosity nobody wants to use. But you can’t make great product in an ivory tower, either. To build something great, you need to discover the common thread behind many people’s pain. That requires “getting out of the building” and talking with people to see what the problems are. The problems a person faces are always legitimate; you can’t tell someone they weren’t annoyed by something! But you can draw your own conclusions about how that situation could have been avoided or allayed. A good product should make a person feel great. They should be able to understand clearly, in their own words, what the product does and quickly get to a “WHOA!” moment that makes them feel your product is something special. You should be able to practically measure that time-to-whoa. If it’s not clear what in your product will really blow people away or surprise people in a good way, you may need to rethink what you’re doing. Be bold. Make your users feel great and they will love you and spread your product in return. So as you think about your hacks and what you want to build this weekend, I’d love for you all to ask how your tool will further empower others, extend human capability, and do something nigh impossible. Make your users into superheroes and you will do very well in this world. I’m looking forward to seeing what you make.

#HackGenY Keynote

If you’d have googled dao only like 5 years ago, the majority of search results would have been about taoism (also known as daoism). It is an ancient philosophy and religion, that arose in the 6th century BCE in China. According to the , “The Tao can be roughly thought of as the flow of the Universe or as some essence or pattern behind the natural world that keeps the Universe balanced and ordered”. If you google it now, the results are mostly about “member-owned communities without centralized leadership”. Wikipedia Nowadays, things change very rapidly not only in Google search, which just reflects these changes. People create new forms of organization, invent new technologies and improve different spheres of life. But what we want to achieve is balance, we want to live in harmony with self, others, and nature. In the rapidly changing world it is getting more and more difficult to gain balance, and traditional organizations, which lack flexibility and can’t quickly adapt to changes, are beginning to be replaced by more flexible forms. That’s how the waterfall model was replaced by agile frameworks in software development. That’s how traditional business models are starting to be replaced by DAOs, a new experimental form of making business, which appeared due to the invention of blockchain. Balance in your life and the DAO In taoism the balance is summarised in Yin and Yang principles, which see the world with complementary forces, such as light and dark, active and inert, or hot and cold. They are everywhere in our lives. When we notice somebody goes to extremes, we want to go to the opposite extreme in an unconscious attempt to restore the balance. Here we need to remember that restoring the balance does not mean rejecting the opposite point of view, which only makes things worse. It is just adding color. If everything is getting too black, add white. If it’s all white, add black. The truth is always somewhere in between, and when you see the world in all its colors, you feel so alive and inspired… That’s what DAOs do. It’s not only about business and making money. What they try to do is to create a well-balanced organization that is like a self-evolving organism, and thus to get maximum efficiency and inspiration for all its members. In this ideal world, nothing should be imposed. Everyone should be heard, everyone’s opinion matters. Very much unlike boring centralized organizations, whose important decisions are driven by one person or a group of people, who often care only about money. DAOs still have a long way to go. Many of them are still insufficiently decentralized and have inconvenient tools for operating and decision-making. But it’s very interesting to see how they appear and evolve, the speed with which they gain devotees is impressive. My DAO experience It’s been a year since I participate in . Joystream is trying to build a decentralized video platform owned, controlled, and operated by its users. To involve people in its building and governance, it announced a Founding Members Program and is planning to allocate 20% of mainnet tokens to its participants. The program is very generous, but requires quite a lot of time and diving deep into things. For me, this experience started with pure curiosity, but gradually I became more and more devoted to the idea and philosophy of a DAO in general (I didn’t even know anything about DAOs before). Joystream DAO It’s like a job but gives you far more opportunities for self-expression and far more freedom. You can participate in working groups (devoting as much time as you want), choose Council members and even become a consul yourself, make proposals and suggest your ideas, create Bounties, and participate in them. For all these activities you get reputation and thus influence, testnet tokens, and if you achieve a Founding Member status, which usually takes several months of work, you will also get an allocation of mainnet tokens. The more you contribute, the more you’ll get! During my year’s involvement, I participated in several working groups, worked as a consul, did some translation tasks, made research and videos, and suggested different ideas. We had a lot of discussions and sometimes even quarrels, we formed political parties and debated with each other, we lost some participants during the stagnation phase and then acquired even more interesting contributors. But what was always the most important is the joy (that’s why it is Joystream, needless to say). You participate because you like it and you can always leave if you lose your joy. It’s not only about Joystream, it is about every DAO. Of course, some part of the motivation is always money, but it’s never the most important thing if you got involved in the DAO. The mission of the company, the way, and then just the process itself are becoming a real driving force. Joystream currently has a little more than 100 Founding Members, but they aim for something like 200, which still gives a lot of time and opportunities to contribute, so you can try yourself. Since the beginning, they tested two different models of the program and are still making a lot of improvements and experiments with everything. The goal is to create an effective and viable DAO by the time of mainnet, which is planned for December 2022. And in the mainnet, things are going to be even more exciting, because the budgets will explode, so a lot of money will be at stake — the total fundraise is roughly $13m at a $60m valuation. Imagine this sum will be governed entirely by token holders! Your money, your rules Joystream DAO has raised some money. It is not such a big sum compared to some other DAOs. If you open the “ ” page on Coinmarketcap, you’ll see that the biggest DAO project, Uniswap, has a 5 billion market cap. Almost the same as McDonald’s Japan, which currently has a capitalization. For May 2022, the top 5 DAO projects have already reached a 1 billion market cap. Top DAO Tokens by Market Capitalization $5.28 billion New DAOs are being formed as you read this article. A lot of money is in the hands of DAO participants. Let’s see what they’ll do with them!

DAO Philosophy and Business: My Experience With the Joystream DAO 

The MIT License is broken. It leads to situations like this: To be fair, the license has also led to incredible innovations and benefits. But it doesn’t play out well over the long term. Its weakness is most palpable in projects which have of digital infrastructure. . fallen out of fashion yet are also part of the bedrock Log4j2 is a prime example Fashionable Or Dead The only options for funding MIT Licensed projects are donations or sponsorship. The license to pay for use. This arrangement does not work well for unfashionable but valuable projects. These projects exist on the of the attention distribution. prohibits forcing businesses long tail Selecting projects or developers for sponsorship is an . That’s why only Michael, Glenn, and Matt sponsored Ralph Goers to maintain was found. But now, since the news drew massive public attention, . attention game Log4j2 before the security vulnerability Ralph has 110 sponsors Well done, case closed, let’s all go home. The funding mechanism is still broken. Wrong. It is still reactive rather than proactive. It still misses the long tail of attention. A Path Forward We need a funding mechanism that targets . It also needs to encourage proactive maintenance. And the simplest way to encourage proactive maintenance is to have a funding source that can shift to a competitor. use rather than attention The path forwards requires innovation. We have to invent new technologies which solve the problem. Licensing is a technology. And its ability to express healthier agreements at scale needs to improve. My attempt at that solution is the License. It’s a lot like the MIT License. The code can be modified, forked, reproduced, executed, and compiled without restriction by anyone. With two exceptions: OpenFare Commercial users are subject to payment plans defined in code. The license and payment plans can only be modified by the license copyright holder. I’ve written an introduction to OpenFare . here Key to this idea is the OpenFare tool which can parse payment plans and therefore manage payment obligations at scale. This is an important factor because it allows payment plans to be customizable to an extent that is only constrained by their legibility to the tool. It also means that long-tail projects can be funded by micropayments. This shift of licensing from a static medium to a dynamic medium means that project maintainers can better negotiate their position. Onwards!

MIT Licensed Software: Fashionable Or Dead

This post may be useful for everyone who thinks of their own business idea as well as for beginner VC investors. The ideas that I am going to talk about are taken from a book written by Peter Thiel called , as well as from my personal experience. “Zero to One” There are many ways you can get enough funds to start your own company. I do not consider bank loans or the support of your relatives here. Also, I assume that there are few people who can afford to run a startup from their own pocket. Saying that we can see that there are only you can get significant resources to start your IT business: 3 ways Venture Capital (VC) investments Angel investment Crowdfunding I treat venture investments and angel investments as almost the same. The only difference is that usually behind a VC there is a group of people, on the other hand, an angel investor is a single person. But crowdfunding is completely another deal and you can see that it is growing significantly, thanks to cryptocurrencies, ICOs, and social media! However, ICOs and crowdfunding is not a part of this presentation. Today, we'll talk about mostly. VC investments Everything Starts With Idea But let’s start from the beginning. Everything starts with an idea. And most commonly, it fails at this stage :). As everybody knows, there is a secret behind every great idea – a truth that the majority doesn’t know. One of the questions that Peter Thiel asks startup founders and his new employees is: “What important truth do very few people agree with you on?” It may sound like one of those nonsense questions that HRs ask you on interviews. But there is a deep sense in this question. Most often you will hear something like these: Our educational system is broken There is no God Politics is a dirty game But they are not secrets. These are obvious things or controversial topics for endless arguments. And here are some good truths held by famous these days people: Sending paper checks over mail is not convenient College students would like to know more about each other through the internet There is no bookstore where you can find any book in the world The first one, obviously, belongs to PayPal founders. The second one belongs to Mark Zuckerberg. And the last one lies behind the idea of Amazon. It is challenging to think of good secrets that are able to grow into a business because it makes you think of unpopular things. Everybody knows everything you learn at school or college. But a startup is an ideal tool to invent breakthrough technologies and new markets. You can convince a small group of people to follow your truth and try it out. On the other hand, it is more challenging to develop unpopular ideas in big companies, obviously, because the majority of people do not share them. Recently, I published a comprehensive guide about the . idea validation process Think Like VCs To get a venture investment, you need to understand how venture capitalists think. Serial investors understand how to make money and have a good understanding of how economics works. Moreover, they understand some secrets, that the majority doesn’t know. Are Monopolies Evil? To go further we need to clear up one important thing. Let’s talk about monopolies. Are monopolies evil? You can hear from TV and read in newspapers that governments fight monopolies: they create new laws that restrict monopolies and try to fulfill their markets with the competition. Let’s read the definition of from Investopedia. “perfect competition” Perfect competition (opposite of monopoly) is a theoretical market structure in which the following criteria are met: All firms sell an identical product All firms are price takers Market share has no influence on the price Buyers have complete or “perfect” information Firms can enter or exit the market without cost Sounds good for us as consumers, huh? But let’s dive a bit deeper and discuss the long-term effects of perfect competition and monopolies on an example that everybody knows: Google. Is Google a monopoly? It is a tricky question. Let’s consider Google as a search engine. It owns 70% of the market. When you talk with your friends and mean “search something on the internet” you say “Google”, which is an official term from the Oxford dictionary. So, it owns the market completely and its brand name has become an official term for the whole industry. Does that mean that Google is a monopoly in the search engine market? Definitely, yes. A tricky thing about monopolies: they do not call themselves monopolies and hide that. Because people hold negative stereotypes about all monopolies and treat them as something bad. We can consider Google as an advertising company because about 95% of its revenue comes from search advertising. In this case, we see that it holds only 3,5% of the global market, which is not much, in fact. Also, we can treat Google as a technology company and compare its revenue to the global IT market net worth. As you can see, it is a drop in the ocean. Whether Google is a monopoly or not is a controversial question, but almost all their revenue comes from search advertising and about 70% of the search market belongs to them. However, they make a good job on hiding this. Monopolies Are Beneficial In Long Term Now, let’s go a bit deeper and talk about the ways of growth in economics. There are 2 ways of growth in economics: . extensive and intensive Briefly speaking, the extensive way leads to a huge number of similar businesses that produce the same product. It leads to a “perfect competition market”. On the other hand, intensive development usually caused by new processes or inventions. In the case of the IT industry, it usually caused by new technologies. Let’s stop here for a minute and think more. Let’s assume, that you own a business in a competitive market. It means that you run a company that is similar to hundreds of other companies. Also, it means that you fight for survival every day, trying to minimize your expenses and hold your prices competitive. Obviously, it means that you do not have the resources to build long-term plans or invest in something new. You won’t be able to make a breakthrough in the technology world. At the same time, new technologies lead to extensive development. New technologies matter more from a global perspective than “perfect competition”. Only new technologies and extensive development lead to positive changes in our world. And here an interesting conclusion comes: monopolies are more beneficial in long term. Only monopolies have enough resources to invest in new technologies and researches. Only monopolies can afford to pay their employees more and hire top talents. At the same time monopolies are able to earn huge money because they own entire markets. Moreover, from the business perspective, building your business in a competitive market will now allow becoming different from the rest of the market and you can get stuck in competition with minimal profits. Smart Ventures Look For Potential Monopolies Every investment is a huge risk because first of all you invest in people and humans are unpredictable creatures. As an investor, when you take this risk, your reward should not be 10x, but 1000x. It is logical, that only monopolies can give you such growth. I am sure you heard about some crazy investments. For example, there is a that is going to use the moon for advertising purposes. There was a huge hype around them when they raised their first millions. Now I understand the thinking behind such investments. If you are a serial investor and every investment is a huge risk, why won’t you splurge a couple of millions on the idea that can monopolize the moon? startup in Japan But how investors distinguish monopolies from other businesses? Here are formalized by Peter Thiel. monopoly attributes Monopoly businesses usually own a technology that is impossible to replicate easily. Obviously, it creates a barrier for competitors to get into the market. A good example is the Google search algorithm which uses machine learning and more than 600 factors to determine search ranking. Network effects make a product more beneficial for customers as more people use it. It is a straightforward one, a good example is the Facebook friend list. It creates more value as more of your friends use Facebook. Economies of scale, briefly speaking: it gets stronger as it gets bigger. In our industry, it is a common case because the marginal cost of producing another copy of the software is 0. Brand. Monopolies create a culture of the brand and try to make people associate their brand with the whole industry. Good examples are Apple and Google. Future Cash Flows Apart from the monopoly attributes investors pay a lot of attention to the ability to generate . Here is a definition of cash flow from Investopedia: cash flows Cash flow is the net amount of cash and cash-equivalents moving into and out of a business. An important note here: please don’t mix cash flows with or . Here are the definitions: revenue profit Revenue is the amount of money that a company actually receives during a specific period. Profit is a financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity. Briefly speaking, a company’s revenue is the amount of money that the company receives w/o any deductions or expenses. Profit is the amount that remains after deduction of all expenses. But cash flow is related not only to money but to its equivalents and also it can be negative if a company has higher flows moving out of the business. You may not have cash flows already, investors are looking for the ability to generate them in the future. Also, please keep in your mind that are not profitable first couple of years and become profitable after 3-5 years. So don’t be afraid to reflect negative profitability in your business plan, experienced investors appreciate future cash flows more. the majority of IT startups Durability One more thing investors pay attention to is durability. It comes from the previous point that IT startups bring profits to their investors after a couple of years. So here a logical question comes up: will your startup be able to survive until it becomes profitable and generates significant cash flows? It is hard to predict, but it is closely connected with your initial idea and market. For example, if your startup is a trendy restaurant, it may be growing only until the trend is alive and most likely it will be stuck in competition in the long-term. Summary Now it is time for a quick summary. So, in the eyes of VC investors is a startup that: the ideal startup Owns a unique technology that cannot be reproduced easily Dominates/tends to dominate a small market Able to scale at a bigger market w/o marginal losses Brings more profit to consumers as more people use it Able to generate cash flows in future Will be still relevant a decade from now I hope now you will better understand how VC investors think and based on this you will be able to evaluate how good your startup idea is.

Smart VCs Look for Potential Monopolies

The Internet-connected fridge is the typical example of mundane technology that might soon be online. Getting sex toys online makes the problematic sides of IoT more evident. In plain English, the Internet of Things (IoT), means that our things will be connected to the Internet. In its , Gartner estimated that IoT would reach most people within two to five years. 2017 hype cycle analysis Until now, IoT has primarily been embraced by the There are Internet-connected light bulbs, door locks, heaters, coffee makers, bathroom scales, robot vacuum cleaners and burglary alarms. But since IoT devices are often pricier than their unconnected competitors, they won’t reach the mainstream until people who aren’t as tech-savvy . keenest nerds. find the IoT devices superior Sometimes the spread of needs help from our more basic urges. technology The cliché of porn spreading technology The story of how human desires in general, and the porn industry in particular, has contributed to the spread of new technologies : Super 8 cameras enabled amateur porn. With Polaroid cameras, you could take daring photos without fearing the development process. The porn industry chose the cheaper VHS format over Betamax and has been pushing for pay per view-solutions and innovations in online payment. has become a cliché The porn industry didn’t invent these technologies but have often found uses that had a broader appeal than technology just for technology’s sake. Sex + IoT = ? If you were already wondering why your coffee machine should be online, you might be asking the same question about . sex toys There are sex-related IoT-gadgets that have nothing to do with porn. The kGoal helps women correctly. The gadget is inserted into the vagina and provides feedback on the way you do the exercises. The vibrator Lioness on the use and orgasms, to help the owner figure out what affects her desire and orgasms. do Kegel exercises collects data So many iPhones next so to many sex devices. This is kGoal. Sex toy producers that are directing themselves towards the general market package their sales pitch into a romantic tale of the long-distance relationship. Wouldn’t it be delightful, if your partner could control your toy from the other side of the planet? Remotely controlled vibrators have been around for a while, but there are also paired vibrators and artificial vaginas (“Fleshlights”) that can be used simultaneously and send signals to each other, mutually controlling each other’s movements. Enter porn industry The use of pair sex toys quickly moved outside the romantic spheres, as camgirls and camboys . As long as webcams have been around, people have been doing more or less explicit things on camera. Around the world, you’ll find people who do webcam shows for a living, in a digital gray area between striptease, pornography, and prostitution. began using them Viewers can chat with performers and tip them. For a certain tip, you get to see this or that action. The prices, however, are being pushed down. With the Internet-connected sex toys, camgirls and camboys could offer their viewers to control the sex toys at a distance, and for a short while . stand out from the crowd The porn industry has also found its twist on IoT. Artificial vaginas (“fleshlights”) are connected to a small robot which moves vagina up and down. When the vagina robot is put online, the movement you see in the porn movie. Some porn movies are shot specifically for this purpose, often in POV. Combined with virtual reality glasses, the porn industry hopes to create porn that is immersive enough that people will bother to pay for it. can be synchronized with the movements first person (Staying clear of the porn industry, you could go for the vibrator Vibease, which synchronizes its movements with .) audiobook porn What happens when your device gets hacked? IoT-gadgets has a lot of problematic aspects, but with the sex involved, the problematic aspects become more evident. Everything that is connected to the Internet How would you feel if it’s not your girlfriend that is remotely controlling the sex toy, but someone else, that has hacked into it? Or what if someone would get the hold of the audio and video broadcasted from the sex toy? (Yep, there are vibrators with integrated camera). can be hacked. There are a number examples of how sex toys Last year Standard Innovation had to pay plaintiffs after it became clear that their We-Vibe vibrator could be hacked, and was about temperature and vibration settings back to the company’s servers. In other words, it was possible to glean when and how the vibrator was used. have been hacked. 3.75 million US dollars sending data You don’t really own your IoT device Secondly, it is unclear what you when you buy an IoT device. Even if you have paid hundreds of dollars, you don’t get to decide precisely how it or how will be used. The manufacturer may send software updates that change functionality. are really buying can be used the data When people are just paying once, instead of subscribing to a service, how will they be able to fund running costs and further development? When the company goes bankrupt, will your vibrator (or fridge, or light bulb) stop working? Additionally, if the business model isn’t that solid, but the gadget has it may be tempting to sell the data or at least the analysis of the data. IoT isn’t explicitly held to any or access to a lot of data, legal requirements standards. Taking control of the devices — in a good way Luckily, the Internet is big enough that there are of course people that are working to take bring our sex toys back! Around the world, there have been several (which are far more than the name would suggest). Enthusiasts from different fields put together and use technology to build gadgets that can solve needs linked to intimacy and sexuality in new ways. With the framework it becomes easier for people to take control of their sex toys, and reprogram them to work in new ways. sex hackathons innocent programming buttplug.io, Make sure to check out . the suggested principles for IoT There’s also a movement fighting for better regulation of IoT. Designer and IoT enthusiast Alexandra Deschamps-Sonsino was in Oslo last fall and gave an eye-opening talk on the topic. Their goal is to get manufacturers to follow covering issues such as privacy, security, open source and the possibility to manage and control a gadget you have purchased. 30 principles Here in Norway, the has done an exemplary with their critique of IoT, shedding light on and . Norwegian Consumer Council fitness bracelets internet-connected children’s toys In other words, the technology is ready, use cases are increasing, but the safety and regulation are not in place. I’ll be passing on IoT devices for few more years.

How Internet-connected sex toys make it clear that we need to worry about the Internet of Things

Photo by imgix on Unsplash Chances are you have heard someone mention the word in the past year. The , which revolutionizes the way we buy and trade, has flooded into public discourse over the past year. Entrepreneurs are racing to apply it to all industries, ranging from retail to energy to currency itself. blockchain technology Within the sustainability realm, my specialty, blockchain offers multiple benefits. griculture A Increased transparency provides consumers more information about their food. It opens the supply chain, allowing for more direct contact with farmers and assurance of appropriate farming practices. This direct contact reduces the amount of profit skimmed from middlemen and can boost the income of low-income farmers. Assurance of appropriate farming practices protects the soil, environment, and our long-term productivity. Ripe.io, linked below, is doing great work in this space by creating a blockchain that allows customers to trace both the source and quality of produce. _Ripe.io is altering the trajectory of the food system through blockchain technology and the Internet of Things. By…_www.ripe.io Ripe - Let's Talk About the Quality of our Food Photo by Joanna Nix on Unsplash Carbon Emissions In the wake of the Paris Climate Accord, more nations and jurisdictions have moved to put a price on carbon emissions. Carbon price laws and systems can take many forms, with some following a cap-and-trade structure. These structures set a limit on the total carbon emissions an entity (like a company or agency) can produce. If an entity goes over their limit, they can reduce their emissions by purchasing reduced emissions by other entities. In essence, this creates a market of entities trading carbon dioxide emissions and reduction. Blockchain comes in handy during the verification of reduced emissions and tracking its trading. As you can imagine, estimating carbon emissions and reduction can be tricky. Applying blockchain to these markets can bolster their credibility and buy-in, resulting in lower emissions. Companies, like CarbonX, are currently working to establish these markets. _Edit description_www.carbonx.ca Welcome The concern Despite these benefits, blockchain poses a potential problem in regards to sustainability. . Without a corresponding increase in renewables, the rise of blockchain processing will drive up carbon emissions. The process of mining and verification amongst nodes consumes very sizable amounts of electricity Politico Magazine recently covered the rise of bitcoin mining in Washington’s Columbia Basin. They showed how the region’s cheap — and luckily renewable — electricity attracted miners like bees to honey. The growing number of miners in the region put considerable stress on the region’s electric grid, with mining often taking as much electricity and the residents in the region. _EAST WENATCHEE, Washington-Hands on the wheel, eyes squinting against the winter sun, Lauren Miehe eases his Land Rover…_www.politico.com This Is What Happens When Bitcoin Miners Take Over Your Town As such, tensions have escalated between miners and residents as they fight over electricity. Residents have become off-put by bitcoin and cryptocurrency, and counties in Central Washington have considered a moratorium on the establishment of new bitcoin mines. Technology will continue to progress. Like the dot-com boom before this, we will continue to invent new technologies that revolutionize the way we communicate and produce. As we move forward, we will need to grapple with how we energize and power progress. And I don’t just mean electricity. We will need to better understand the draining effect of technological progress. How can we ensure that, as we develop new technologies, we don’t just use communities for their resources, but include them? How can we create partnerships instead of tension? Blockchain can create so much good. Let’s help others see that. Photo by Artur Pokusin on Unsplash

With great (processing) power comes great responsibility

Nikola Tesla was a brilliant inventor and visionary who died largely forgotten. His contributions to the world were enormous, but people still remember Edison and Franklin and da Vinci and Bell. For decades, attempts to honour Tesla with a New York museum at Wardenclyffe failed repeatedly. Only recently has this borne fruit. Here are some of Tesla’s contributions: invented the first alternating current (AC) motor developed AC generation and transmission technology created the Tesla coil, a high-voltage transformer which came to be the genesis for the cathode ray tube, radio transmitter, radar, and many other technologies invented X-ray technology invented dynamos and the induction motor invented the first working radio invented the fluorescent light bulb invented the remote control invented wireless transmission of electricity designed the first hydroelectric generating plant at Niagara Falls In 1887 and 1888, he was granted more than 30 patents for his inventions. When Tesla died in 1943, he died penniless and forgotten. Smalltalk was the brainchild of Alan Kay, a true visionary who led a brilliant team at Xerox PARC. Today, Smalltalk is greatly underestimated. Although Kay never thought of Smalltalk as the central focus of his vision, it remains a powerful force for the advancement of programming technology. More than four decades later, no programming language has yet to catch up to Smalltalk in terms of simplicity and elegance, minimal cognitive friction, object-oriented purity, elegant live coding and debugging, enormous programmer productivity, and professional respect. At Slant and StackOverflow, Smalltalk is revered: read . The Wisdom of the Crowd Capers Jones of Namcook Analytics has shown . Smalltalk’s tremendous advantage when it comes to programmer productivity Smalltalk’s IDE and runtime are amazingly powerful without the arcane complexity that you find in modern IDEs like Visual Studio, Eclipse, and Xcode. Here’s a demonstration: live coding Here are some great innovations: Smalltalk continues to evolve and improve in remarkable ways through the Pharo project. NativeBoost — having an inline assembler is definitely not a common feature in a dynamic language. NativeBoost has since evolved into Unified Foreign Function Interface (or UFFI). is a set of code visualisation tools containing many means to visualise and analyze code. Moose , which uses Pharo as the reference language, is a fantastic front-end web programming tool. Amber is another terrific front-end web programming tool. PharoJS are a wondrous feature in the Seaside web framework. Continuations — a way to serialize live objects, and for transporting your objects around. Fuel — allows one image to manipulate another one. Very good for debugging an image that has crashed and is unable to open/load. Oz lets you manage your Pharo images (launch, rename, copy and delete) and download image templates (i.e., zip archives) from many different sources to create new images from any template. Pharo Launcher is Pharo’s Github, but unlike Github it is fully open source and all Smalltalk. SmalltalkHub is a port of Scratch to Pharo — this is important because Scratch has been ported to HTML5 and this is an effort to keep Scratch Smalltalk-based. Phratch is an excellent platform for teaching kids how to code. Phratch — good support for Pharo in Emacs; you can replace the Pharo GUI with Emacs and enjoy the benefits of this most powerful editor. Shampoo Legacy Like Tesla, Smalltalk has a wonderful legacy. Its beautiful implementation of has directly influenced the design of nearly every object-oriented language we use today: Java, Python, C#, PHP, Ruby, Perl, Objective-C, Groovy, Scala, Dart, Erlang, CLOS. object-oriented programming Smalltalk introduced the world to the language . (No, it wasn’t the first but it was the best-known.) This is the same tech that underpins Java and .NET. virtual machine Smalltalk pioneered JIT (just-in-time) compilation. From Smalltalk came the first modern IDE (integrated development environment), which included a text editor, a system or class browser, an object or property inspector, and a debugger. Smalltalk was the first language tool to support live programming and advanced debugging techniques such as on-the-fly inspection and code changes during execution in an easily usable form. Since Smalltalk-80 (in 1980), it had first-class functions and closures which, oddly enough, make Smalltalk quite good for functional programming. Quite remarkable for a “pure” object-oriented language. (How long did it take Java, Python, C# and C++ to get this feature?) Smalltalk introduced the software architectural pattern MVC (Model-View-Controller). To a large extent, Smalltalk was responsible for giving us (or TDD) and extreme programming (or XP), which are both very influential in today’s standard agile practices. test-driven development Smalltalk made “duck typing” a household word. Duck typing is where “type checking” is deferred until runtime — when reflection capabilities are used to ensure correct behavior. We find duck typing in many languages today, including Java, Python, Go, Groovy, Objective-C, and PHP. Smalltalk pioneered the development of object databases of which is a great example. GemStone/S Smalltalk gave us the . first browser refactoring Smalltalk was instrumental in developing the (or GUI) and the “what you see is what you get” (WYSIWYG) user interface. graphical user interface People don’t realize this, but Smalltalk is every bit as extensible as Lisp! Read . Who needs Lisp macros? Lisp, Smalltalk, and the Power of Symmetry Apple’s success owes a lot to Smalltalk. It’s true! Objective-C has been the foundation of macOS and iOS, and Objective-C is essentially a cross between C and Smalltalk. MacOS evolved from NeXTStep which was built with Objective-C. to completely realign Apple’s strategy; the GUI was a direct outflow of Smalltalk work. Steve Jobs was inspired by Xerox PARC’s GUI and WIMP Whew! Nikola Tesla would’ve been proud! More than four decades later, Smalltalk enjoys far more commercial usage than any of the upstart languages we hear so much about (for example, Ceylon, Clojure, Crystal, D, Dart, Elixir, Elm, F#, Haskell, Haxe, Julia, Nim, Rust). Between them, they have many prominent Smalltalk users: still Cincom, Instantiations, and GemTalk are major Smalltalk vendors. JPMorgan Desjardins UBS Florida Power & Light Texas Instruments Telecom Argentina Orient Overseas Container Lines BMW Siemens AG Just to name a few. In my home country, Smalltalk is used by Communications Security Establishment (CSE), Canada’s national cryptologic agency. Pharo itself has prominent users, too, for example: ALLSTOCKER ATMs in Moscow streets LAMRC FINWorks YesPlan In the early 2000s, the U.S. joint military used Smalltalk to write a million-line battle simulation program called JWARS. It actually outperformed a similar simulation called STORM written in C++ by the U.S. Air Force. That by itself is an astonishing testament to the capabilities of the language. Here’s a commercial virtual reality application done in Smalltalk: . Magnificent! 3D Immersive Collaboration Smalltalk is good for and . machine learning data science Smalltalk is being used to fight Ebola! Smalltalk is used in . wide-scale data visualization for medicines in 16 countries Smalltalk was so good for business use that in the early 1990s, IBM chose Smalltalk as the centrepiece of their VisualAge enterprise initiative to replace COBOL. Unfortunately, Java came along in 1995 and put an end to that. And as we all know, today Java is the enterprise standard programming language. In fact, according to a 1995 IDC report, OO language market shares were: C++ — 71.3% Smalltalk — 15.1% Objective-C — 5.7% OO Pascal — 4.2% CLOS — 2.5% Eiffel — 1.1% all others — 0.2% Here’s a page from Computerworld, November 6, 1995, showing Smalltalk and C++ duking it out: Let’s look at a universities and research groups that use Smalltalk (Pharo): few University of Bern, Switzerland, http://scg.unibe.ch Uni. of Buenos Aires, Argentina Vrije Universiteit Brussels, Belgium Uni. de Bretagne Occidentale, France Uni. Catholic of Argentina, Argentina Federal University of Espírito Santo (UFES), Brazil Uni. of Chile at Santiago, Chile Czech Technical Uni., Czech CULS Prague, Czech DCyT — Universdad Nacional de Quilmes, Argentina http://www.unq.edu.ar Ecole des Mines de Douai, France http://ia.mines-douai.fr ENSTA Bretagne University of Hagen http://www.fernuni-hagen.de/ps/lehrveranstaltungen/k01814/ HackBo, Hackerspace en Bogotá, Colombia. http://hackbo.co Ivan Franko Nat. Uni. of Lviv, Ukraina Université de Montpellier, France IAE Savoie Mont-Blanc, France Uni. de Maroua, Cameroon Aalborg University, Denmark Northern Michigan Uni., USA Uni. Policnica de Catalunya, Spain Uni. of La Plata, Argentina Uni. of 20 Aout 55-Skikda, Algeria Uni. Technologica Nacional at Buenos Aires, Argentina Uni. Technologica Nacional at Cordoba, Argentina Uni. Nacional de San Martin, Argentina Tomsk State University, Russia http://www.csd.tsu.ru Université de Louvain la neuve, Belgium Université de Yaounde, Cameroon Universite di Cagliari, Italy (AR) Lafhis (AR) Institute of Veterinary Genetics IGEVET ASERG (CH) Software Composition Group (FR) CAR (FR) RMOD (IRD) Ummisco (CH) Reveal (CL) Pleiad (FR) OC CEA-List (FR) Laboratório e Observatório de Ontologias (BR) Uqbar (AR) (CZ) CCMI-FIT Lab-STICC UMR 6285 Lab-STICC (IT) Agile Group As you can see, Smalltalk is incredibly strong in industry academia! and So in the end, I am puzzled why Smalltalk gets so little press coverage, why Smalltalk is as forgotten as Nikola Tesla. These two deserve better fates.

Smalltalk May Be the Nikola Tesla of the IT Industry

"Many of the things you can count, don't count. Many of the things you can't count, really count." - Albert Einstein Three men are standing in front of a street vendor selling fresh coconuts. The first man is thinking to himself that a coconut might cost him five dollars. The second man surmises that he might pay four Euros for it. While the third person is wondering if the seller will accept forty Pesos for his product. What the example above illustrates is that the question is personal, and frequently a result of the individual’s indoctrination into a local fiat currency used to communicate the price of items in commerce. This pricing function in turn results in a vernacular specific to how the individual understands value. what is money? Money's function can best be understood as language, and –  just like spoken words – may require translation when communicating with persons from different backgrounds. The street vendor in our example is selling his coconuts in Dushanbe's Rudaki Park, and the price he is willing to accept for his product is thirty Somonis, the national currency of . If you are wondering: yes, that is a real country located in Central Asia, with a national currency as real as the US Dollar. Tajikistan The introduction of a second party into our example, underlines both the primary of money as language, as well as the need for its translation in commerce between parties with different vernacular. function The vendor has performed the necessary translation of the American man's offer into his language of value, and although he would have preferred to receive thirty Somonis for his goods, he agrees to accept five US Dollars for his coconut. In addition to agreeing to a shared language, for the transaction to take place, the parties need to now agree on an acceptable . After rejecting the buyer’s proposal to transfer the agreed payment price of five dollars through credit card payment, the seller accepts a five-dollar note from the buyer. medium of exchange Medium of Exchange The medium of exchange - the five dollar bill in our example - was created by the , and is legally referred to as Federal Reserve Note which distributes these certificates. After the bill's production through by the Bureau of Engraving and Printing - whose website is fittingly hosted under - it was shipped to a commercial bank, where it was briefly stored inside an ATM before our coconut buyer withdrew it to store it in his personal wallet. Handing the cash to the coconut seller, finalized and settled all contractual obligations of the seller towards the buyer. United States Department of the Treasury MoneyFactory.gov Possession versus Ownership While the coconut buyer is free to consume or destroy the coconut in his hands, the seller – now in possession of a five-dollar bill – de jure entered into a new agreement with the issuer of the note. His possession of the note provides him with a claim against the Central Bank of the United States. And, while he is generally free to transfer the note, US Federal law ( ) imposes fines or even imprisonment should he use it in a way that renders it "unfit to be reissued". The note is at all times by its issuer. 18 U.S. Code § 333 owned The total amount of USD paper notes and coinage in circulation ( ) per January 2021 is $2.1 trillion. according to the Federal Reserve Payment 88% of US consumers use physical cash at least sometimes. However, there are several other ways that payment in our example could have taken place. According to only ten percent of consumers make all of their purchases using Federal Reserve Notes and coinages, all other payments are made using electronic systems. It is important to note at this point that that the collected data only refers to US national transactions, and does not account for cash denominated in US Dollar is in circulation outside of the US (the latter makes up the majority of physical cash - or about 52%). All digital transactions share the use of database technologies, in some form. And, while any person might store and keep physical cash under their control, as of today fiat currency created in digital form can only be held in accounts by a financial service provider with banking, or money service licenses. data published by the Federal Reserve board The provided a theoretical blueprint for a peer-to-peer electronic cash system. However, it did not accomplish its practical implementation in general, nor does the network currently provide the tenets to facilitate cash transfers in particular. While Bitcoin’s relative independence from the fiat system, make it a form of "money of last resort", the usage of Bitcoin's mining rewards (bitcoin), has concentrated on speculation via custodial exchanges - yet again using database architecture operated by custodians - and de facto voided the herd immunity needed to deliver on that promise. Bitcoin White Paper, Bitcoin's promise: separation of State and Money! When money loses its pricing function, and citizens can no longer comprehend their local currency, they most commonly turn to the dominating vernacular of buyers, sellers, and - most importantly - lenders around the world: the US Dollar. Aside of its supremacy in international trade, and as reserve currency, citizens most often chose the US Dollar when their local currency fails to perform its . Despite mythological lists of functions taught to unsuspecting victims across business schools, as our simple coconut transaction demonstrates, the principal function of money is that of language of value. secondary use case of payment Conclusions The earliest form of writing ( ) started with ledger entries on clay tablets, depicting commodities owed. Clay tables eventually made way for paper, paper made way for databases. Of course, before any of these technologies were invented however, humans simply remembered their debts. This is still true today, with recorded ledgers serving as additional external memory (if you forget you had an account add a local bank, you may be as lost as if you lost the money in the account). cuneiform which combined a medium of exchange with a store of value function under a recognized unit of account, was at no time in history a significant technology for commercial activity at scale (more ). Commodity money here Ironically, the conflation of functions of money as described in Jevon's 1875 textbook might indeed finally come together in digital bearer instruments. Albeit, a quick look at any digital wallet today will reveal that money itself does not store value but provides a unit of account, recording of time and asset preferences of the owner. Our seller may gladly accept bitcoin for his coconut in the future, however as Gresham's law informs us: bad money will drive good money out of circulation (more on the 'fiat problem' ). And, since the , thanks to Einstein, we also know the upper bound for that: the speed of light. here default medium of exchange for all money is bytes Also read: The Cryptocurrency Confusion

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