37/ Simply put, cooking dinner for one is more expensive than cooking for a family of five: cooking for five does not take five times the effort or ingredients than cooking for one.
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48/ Bureaucratic transactions costs (detailed contracts, insurance …) can be significantly reduced with trust. Trust makes links cheaper, allowing networks to grow larger. Trusts is the large networks’ glue.
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49/ At a macro level, we can observe a diversification toward related varieties. There is a bias favoring the emergence of an industry in the places, or networks of people, that already have accumulated much of the knowledge and knowhow needed for that industry.
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50/ Places producing curtains are preadapted to produce tablecloths but not espresso machines. By analogy, a zebra and a crocodile might be similar in terms of overall complexity, but evolving a horse from a zebra is easier than evolving a horse from a crocodile.
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51/ Another good example of this nestedness of industry-location data is the Silicon Valley. If HP, Atari, and Xerox PARC had not been located in the valley, it is likely that the knowledge and knowhow needed to get Apple started would not have been there.
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52/ The idea of product space, a network connecting similar products, help understand the dynamics of industrial diversification and at a fundamental level explains the growth of economies as the growth of information.
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53/ As the universe moves on and entropy continues to increase, our planet continues its rebellious path marked by information rich pockets. Our lives compute forward in a universe that has no past.
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NOTE1: All credit goes to
@cesifoti, author of the most interesting book I read in 2017: "Why Information Grows: The Evolution of Order, from Atoms to Economies”.pic.twitter.com/mB7npNkggh
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