One of the ugly secrets of the renewable-energy industry is that its products make no economic sense unless they are highly subsidized.

Don't let the secret recipe die with the inventor.

If people don't find what you are doing threatening, then it is probably not very important.

One of the ugly secrets of the renewable-energy industry is that its products make no economic sense unless they are highly subsidized.

Now, to find dinosaurs, you hike around in horrible conditions looking for a dinosaur. It sounds really dumb, but that's what it is. It's horrible conditions, because wherever you have nice weather, plants grow, and you don't get any erosion, and you don't see any dinosaurs.

Suppose that every prospective parent in the world stopped having children naturally, and instead produced clones of themselves. What would the world be like in another 20 or 30 years? The answer is: much like today. Cloning would only copy the genetic aspects of people who are already here.

Regardless of how it's done, transaction costs will continue to plummet as computers get more powerful. Low transaction costs are a wonderful thing if you're in the transaction business. They're wonderful for consumers too, making it cheaper and easier to buy things and creating new things to buy.