In the real world there are no "hockey-stick" curves, only S-shaped curves because the real world doesn't deal with infinity.
I wrote a better explanation here: http://www.maximise.dk/blog/2008/11/why-singularity-may-neve...
Perhaps. But it may be that this limit is very far in the future.
Technological progress relies on matter to store information and to built tools, and energy to apply those tools to accumulate information. There is a lot of matter and energy in the Universe, so much so that even were we to continue at our current rate of progress, we wouldn't hit these known physical limits for a considerable span of time.
There may, of course, be more subtle limits we are currently unaware of, but I'm inclined to believe that technological progress will continue at an accelerating rate for a very long span of time.
Instead of trying to predict exactly when, the smart money will execute a strategy that doesn't depend on the exact time, like Dollar Cost Averaging into the current depressed markets.
I'm not sure what that means for the Singularity.
Who has a massive server farm?
Computes enough to keep countries warm?
Goo-gle, goo-gle!
Who has a massive data store?
of websites, books and maps and more?
Goo-gle, goo-gle!
Who hired Norvig as technical lead?
Has rooms of genius PhDs?
Whose statistical translation is leagues ahead?
Whose voice recognition will leave Dragon dead?
Who reserves permission to train on your mail?
Knows who said what in the worldwide news?
Keeps most of their work hidden under a veil?
Their every feature gets 'ahhs' and 'oohs'?
Goo-gle, goo-gle!
(Ahem - http://www.stlyrics.com/lyrics/thesimpsons/stonecuttersanthem.htm )
Well, I can tell you; that isn't happeningSure, says the guy posting under the name of a sentient computer! :)