Kai-Fu Lee’s new book says Artificial Intelligence will be Google vs China and will kill half the world’s jobs

Kai-Fu Lee was born in Taiwan but grew up in Tennessee, which is nothing — nothing — like Taiwan or China. His PhD is from Carnegie-Mellon and for the first half of his career Lee was “that voice recognition guy” first at Apple, then Microsoft, then Google. Lee took Google to China the first time (a new Google China effort is starting just now). Today Lee is an Artificial Intelligence expert who runs a $1 billion venture fund with offices in Taipei and Beijing and, according to Anina (the pretty girl in the picture with me who has lived in Beijing for most of the last decade) he’s “an absolute technology rock star […]

We win, you lose: How shareholder value screwed the middle class

The American Dream changed somehow in the 1970s when real wages for most of us began to stagnate when corrected for inflation and worker age. My best financial year ever was 2000 — 18 years ago — when was yours? This wasn’t a matter of productivity, either: workers were more productive every year, we just stopped being rewarded for it. There are many explanations of how this sad fact came to be and I am sure it’s a problem with several causes. But this column concerns one factor that generally isn’t touched-on by labor economists — Wall Street greed.

Lawyers arguing in court present legal theories—their ideas of how the world and the law intersect, and […]

Prediction #3 — 2018 foreign profit repatriation is a $591.8 BILLION taxpayer ripoff

When I started this series of 2018 predictions I said the recently passed U.S. tax law was going to have a profound impact on upcoming events. Having had a chance to look closer at the issue I am even more convinced that this seismic financial event is, as I wrote above, a $591.8 billion taxpayer ripoff. This is not to say there aren’t some possible public benefits from the repatriation, but it’s fairly clear that the public loses more than it will ever gain.

In case you don’t follow these things, multinational U.S. companies have, since 2005, squirreled away about $2.5 TRILLION in profits overseas because U.S. tax law […]

The Robots are Coming!

Elon Musk thinks he can increase the speed of his Tesla production line in Fremont, California by 20X. I find this an astonishing concept, but Musk not only owns a car company, he also owns the company that makes the robots used in his car factory. So who am I to say he’s wrong? And if he’s right, well then the implications for everything from manufacturing to the economy to geopolitics to ICBM targeting to your retirement and mine are profound. We may be in trouble or maybe we’re not, but either way it’s going to be an interesting ride.

My friend Jerry Kew from the UK brought this […]

How to Get Rich Trading Bitcoin

Bitcoin_accepted_hereAs an observer of the Bitcoin market as long as this original cryptocurrency has existed, it never made much sense to me from an investment perspective. Bitcoin prices were too volatile and the volatility seemed too random. Volatility can be a good thing for traders, mind you, but only if you think you have an idea why the price goes up and down the way it does. Otherwise it is just a good way to lose all your money. But a couple of recent events have changed my view of Bitcoin. I now think I can explain its volatility and predict it well enough for profitable trading. And the best part is […]