by Nicholas Mitsakos | Economy, Health Care, Technology, Writing and Podcasts
Instead of “internet time” we now have “pandemic time.” The need for advanced systems to keep society functioning, manufacturing moving, and give consumers some sense of safety is immediate. Driving innovations – whether those innovations are in health care, technology or other areas of production and manufacturing – is essential to not only offset the impact of the global pandemic but stay competitive and sustainable long after the current health crisis has subsided. Technological advancements, especially machine learning and other powerful software tools, combined with developments in nanotechnology, monitoring, and global communication networks will accelerate a profound change that will permeate all aspects of business and manufacturing. Advanced technologies were set to indelibly affect all aspects of industry in about five years. The curve to successfully implement the best tools and make processes more efficient, informative, and effective has been accelerated by the pandemic. The need for automation and systematic tools to keep society functioning, keep manufacturing moving, and give consumers some sense of safety and confidence is immediate. More than anything, driving innovations – whether those innovations are in health care and life science, technology or other areas of production and manufacturing – is now seen as essential to not only offset the impact of the global pandemic but stay competitive and sustainable long after the current health crisis has subsided. Technological advancements, especially machine learning and other powerful software tools, combined with developments in nanotechnology, monitoring, and global communication networks will accelerate a profound change that will permeate all aspects of business and manufacturing.
by Nicholas Mitsakos | Economy, Writing and Podcasts
Since major disruptions and market discontinuities occur on a regular basis (every 7 to 10 years is regular enough for this definition), understanding that these opportunities will arise and to be clearheaded about how to best take advantage of them, invest in the long-term, and capture disproportionate returns should be the rule – not the exception. The world may seem riskier, but risk-adjusted returns are much more favorable. Market modulation will interrupt rational pricing. We are having a moment of extreme downward pricing pressure on assets that are perceived as riskier, and upward pressure on prices for safer assets. This can be easily represented by the pricing differential between government securities and lower investment grade fixed income securities. One security has rallied substantially, while spreads between government securities and high-yield debt have widened dramatically.
by Nicholas Mitsakos | Biotechnology, Health Care, Writing and Podcasts
The coronavirus will accelerate the third great innovation revolution of modern times. Beginning about 100 years ago, three fundamental components were discovered: the atom, the bit, and the gene. Now, a life-science revolution driven by biotech and the discovery of the gene and the molecules (DNA and RNA) that contain and implement its information will be used to fight viruses at the molecular level, treat cancer through fundamental and personalized mechanisms, and edit our own genes to potentially make us immune to viruses and cancer, correct disability-causing mutations, and genetically enhance our bodies and minds.
by Nicholas Mitsakos | Economy, Investment Principles, Public Policy, Writing and Podcasts
The US economy is facing a transitory, but critical, credit emergency beyond the Fed’s normal scope. A new federal credit facility is needed to ensure that sound businesses and households have ready access to cash to get through this crisis. Global business needs a giant bridge loan to get through a tough few months, and governments may need to intervene to make it happen – led by the Fed. The credit markets need substantial additional liquidity, taxes need to be cut to get cash to companies, and banks need to lend and show patience
by Nicholas Mitsakos | Artificial Intelligence, Biotechnology, Health Care, Writing and Podcasts
Distributed learning can enable machine learning for health care. With its unique privacy approach, it can very effectively overcome the greatest obstacle facing AI adoption in health care today. We no longer need to choose between patient privacy and the utility of the data to society. We can now achieve privacy and utility simultaneously.
by Nicholas Mitsakos | Artificial Intelligence, Biotechnology, Book Chapter, Writing and Podcasts
A new technique, inspired by quantum cryptography, allows large medical databases to be tapped for causal links. This is a fundamental breakthrough in thinking, and this perspective has the potential to spot cause-and-effect, supercharge medical diagnoses, and use AI effectively.
by Nicholas Mitsakos | Public Policy, Technology, Writing and Podcasts
Technological innovation ignites economic growth feeding further innovation. But, has our relentless progress irrevocably tipped the balance from a virtuous circle of innovation and growth to a downward spiral of disaster and decline? We’re going to continue to drive, fly, throw away plastic, and tear down the rainforest. If we aren’t going to solve the problems we’ve created by regulating ourselves, we’re probably going to have to use technology — whether that’s to save species, or human lives, or to make sure that certain plants or coral reefs survive climate change. We don’t know the consequences of these future actions.
by Nicholas Mitsakos | China, Economy, Trade, Transformative businesses, Writing and Podcasts
A global economic and political chess game is on between the United States and China. There are many moves, defensive and offensive strategies, short- and long-term gains, but, unlike chess, mutual victory is possible. But only if the U.S. and China understand each piece, all the potential moves, what can be sacrificed, and what victory really looks like. But this does not appear to be happening. Instead of working for mutual benefit, regardless of fundamental cultural and political differences, we are now drawing bright lines demarking battle zones. The result will be economic and technical inefficiency and degradation in the quality of life, safety, and prosperity for everyone.
by Nicholas Mitsakos | Book Chapter, Investment Principles, Writing and Podcasts
It is the reasonable person who stops and sees, connecting the dots and not trying to manipulate reality to fit your vision. The unreasonable try to force change where it is unwelcomed, or, more often, stick to a belief increasingly at odds with the world’s reality. The reasonable person looks at the world and tries to connect the dots others don’t see – but the dots are there. They may seem unrelated to most but seeing what most miss is innovation’s foundation. It is connecting those dots and seeing how things can connect – not forcing something that isn’t there or ignoring what is and how it has changed. It is only afterward that a new idea seems reasonable. To begin with, it usually seems unreasonable. Don’t be fooled and believe you must force change.
