UK to award £1 million for world's biggest problem solution
bbc.co.uk
bbc.co.uk
£1m is 0.00014% of the UK government's annual budget. This sort of "motivation" is nothing more than a ridiculous platitude that enables the government to pretend they're supporting technology and innovation with practically no cost to them. Frankly, it's an insult to anyone remotely entrepreneurial. 100 prizes of £10,000 would very likely do a lot more for industry, encourage people to get behind something imaginative, and perhaps would be enough of a start to someone who could eventually solve one of these problems.
But a lot of people develop amazing things that make a lot of money, without actually benefiting from that money.
For instance, if you work for GSK, and lead a team that discovers the next Penicillin, GSK makes a lot of money. Your pay goes from 100K per year to 200K per year, and you get a big promotion. But you don't get a true share of the reward, because you did not truly share the risk (GSK funded a lot of projects that did not work out).
Similarly, someone working in Academia as an employee might make a brilliant discovery. The organization would get the license money, and they would be able to get a cushy tenured professor job wherever they liked. But they wouldn't get a true share of the reward.
Amazing discoveries are likely to be made by an employee, because large organizations are able to fund high risk/high reward projects. I think it's important, even as a token gesture, to reward them for being lucky enough to get results.
The issue of cost and incentive with this kind of revolutionary innovation is real. The problem is simple. When you innovate, you bear alone the fixed cost of development while your competitors can copy and bear only the marginal cost. That's the reason the patent system exists and normally that's fine.
But, for a revolutionary invention, patents might not be feasible. Imagine you find a cure to cancer. Do you really think every governments and public opinion are going to let you be the sole producer for 30 years while people are dying ? Impossible. This creates a disincentive to push money towards a cure for private investor. Now, the idea behind a price is that if you find the cure, the price is going to cover your fixed cost (ideally more) thus investing is competitive again. Technically, as it fosters competition and you will only reimburse the finder, it supposed to generate more research than just spending the price money. Putting money aside for this kind of price was one of the main goal of the Bill and Monica Gates Foundation when it was founded (I think, they went back a bit because people wrongly assume its wasted money).
Isn't this the way medical patents work currently?
But that couldn't be it, could it?
PS - yes he was "cheated" for decades out of a prize he had won. And given current Prince Charles' public letter campaigns on architecture and farming, I seriously doubt that parliament would be moved by that threat anymore !
The best case is a carefully constructed short list for voting and the whole thing being essentially an orchestrated PR stunt with a winner (probably a known strong candidate even at this announcement stage). The worst case is this quietly fading out until no-one remembers it and there aren't even many real records of it ever having been a thing.
Or perhaps I've got "best" and "worst" the wrong way around there.
...and a million pounds isn't going to solve it.
- The solution isn't hard, it is the implementation of the solution that is hard. Hey, we have electric cars. But getting people to use them requires having electric cars succeed on the open market (which Tesla and others will eventually do, I think). Overpopulation is the problem; educating people to a higher level results in more well-off people having fewer kids. And so on.
The solution is easy! How the hell do we actually get there, as messy, lazy, corrupt humans? That is what the prize should be for.
By modern standards, the R&D problem that John Harrison tackled was low-hanging fruit. Our modern R&D infrastructure, while far from perfect, would not have left such a (relatively) easy and important problem unsolved for so long. These days, lone geniuses of Harrison's calibre have to content themselves with more minor problems like designing the bagless vacuum cleaner.
If you really want good things to happen, you need larger teams and larger prizes. At least £10 million. Think "X-prize".
I'd like to be wrong about this. Can anyone show me that I've missed something important?
"The AI does not hate you, nor does it love you, but you are made out of atoms which it can use for something else."
—Eliezer Yudkowsky
http://en.wikipedia.org/wiki/Deep_Thought_%28The_Hitchhiker%...
1. CO2 emissions.
2. Water scarcity
3. Trade imbalances
(2) Is an agricultural problem. Drip-feed everywhere. (1) has a agricultural solution - stop using livestock in agriculture. (3) Well, this has lots of issues, but start with the easiest. End completely the use of agricultural subsidies in the developed world.
Three things, all pretty much the same solution, all uncosted and not backed up with references, which can be done with no technological inventions, and will drop the big issues of the day by a ridiculous amount.
Which is a shame, as from my non-agricultural engineering background, getting people to stop eating meat and livestock-related produce seems like the hardest one to solve, both culturally and nutritionally.
I may be wrong but I think the vegetarian diet needs to be close to vegan (or at least dairy free) to have a major impact though as cattle are a significant part of the issue.
It's also more or less guaranteed to slash co2 to the bone, fix enourmous run-on problems and help trade
And frankly will never happen until after we live on mars on a vegan diet and so make it cool and desirable
The Nanny State. It's crap isn't it :-)