1 00:00:01,420 --> 00:00:02,350 Starting now. 2 00:00:03,050 --> 00:00:07,270 Commonalities where guests find common ground through uncommon 3 00:00:07,290 --> 00:00:10,910 conversations, politics, religion, finances, 4 00:00:11,010 --> 00:00:14,590 all the topics your grandmother told you not to discuss with friends. 5 00:00:14,930 --> 00:00:17,550 And now your host, Matthew Dowling, 6 00:00:17,770 --> 00:00:20,590 and today's guests on commonalities. 7 00:00:21,690 --> 00:00:24,830 Hey, thank you for joining us today on commonalities. I'm your host, 8 00:00:24,830 --> 00:00:28,750 Matt Dowling, alongside today's guest, Noah Healy. 9 00:00:28,820 --> 00:00:33,430 He's a professional algorithm de developer and a recreational 10 00:00:33,890 --> 00:00:36,270 mathematician. And if you're like me, 11 00:00:36,270 --> 00:00:40,870 you're probably wondering what is a recreational mathematician and, 12 00:00:40,870 --> 00:00:42,830 and what do they do? Uh, 13 00:00:42,830 --> 00:00:47,110 but he's quickly become an expert on game theory and designing 14 00:00:47,130 --> 00:00:50,990 marketplaces, uh, building on breakthrough, 15 00:00:51,510 --> 00:00:55,350 merging physics and mathematics. In the 20th century, 16 00:00:55,740 --> 00:00:57,590 he's developed and, uh, 17 00:00:57,590 --> 00:01:02,070 has a patent pending on a system to supersede commodity 18 00:01:02,070 --> 00:01:05,790 markets. Now, a lot of this may be over our, uh, 19 00:01:06,010 --> 00:01:09,430 our viewers' heads, but we'll make sure that we, uh, 20 00:01:09,430 --> 00:01:12,310 we keep our conversations today to, uh, 21 00:01:12,310 --> 00:01:17,030 to a point to where everyone can understand. And if you know you have questions, 22 00:01:17,030 --> 00:01:21,870 you can visit my website commonalities.online. We'll put, 23 00:01:21,870 --> 00:01:24,790 uh, the answers to any of the questions that you have up there. 24 00:01:24,950 --> 00:01:28,910 Following today's interview, Noah, thank you so much for, uh, 25 00:01:28,910 --> 00:01:31,990 taking the time to join me and my guest today. Uh, 26 00:01:31,990 --> 00:01:35,310 why don't you go ahead and do a little bit of a self introduction for, uh, 27 00:01:35,310 --> 00:01:36,950 those that don't know you. 28 00:01:37,510 --> 00:01:42,080 Well. Sure, Matthew, and thanks for having me here. Uh, you hit the, 29 00:01:42,280 --> 00:01:45,800 you hit the high points in, in your introduction, um, but, uh, 30 00:01:45,800 --> 00:01:48,440 answer sort of your, your first question there. 31 00:01:48,620 --> 00:01:52,600 Recreational mathematics is just mathematics that you do for fun. 32 00:01:53,290 --> 00:01:55,360 Um, it's, uh, 33 00:01:55,390 --> 00:01:59,120 it's a pursuit that's existed for millennia. Uh, 34 00:01:59,130 --> 00:02:04,040 there's a great deal of intellectual satisfaction to be 35 00:02:04,040 --> 00:02:07,320 had in puzzle solving and so on. 36 00:02:07,380 --> 00:02:12,080 And what this does is simply transfers the puzzles from 37 00:02:12,390 --> 00:02:14,640 trying to work out, uh, 38 00:02:15,030 --> 00:02:19,760 a preset thing that another person came up with to puzzles that are 39 00:02:19,760 --> 00:02:24,320 evident in the very structure of reason 40 00:02:24,320 --> 00:02:25,153 itself. 41 00:02:29,880 --> 00:02:34,050 Sure. So, uh, you know, I, I don't want to jump too far ahead, but, uh, 42 00:02:34,050 --> 00:02:39,050 I was very interested in reading about you that you have come up with kind 43 00:02:39,050 --> 00:02:42,130 of an out of the box idea, uh, 44 00:02:42,130 --> 00:02:46,970 a method that is patent pending that's going to supersede commodity market. 45 00:02:47,020 --> 00:02:51,650 So maybe we should start by discussing what commodity markets are, 46 00:02:51,950 --> 00:02:54,890 and then let's talk about your method and, uh, 47 00:02:54,910 --> 00:02:59,360 and how it supersedes the commodity, commodity markets as a whole. 48 00:03:00,880 --> 00:03:05,690 Okay. Uh, well, commodities are products of uniform quality. 49 00:03:06,140 --> 00:03:10,930 Uh, and so they're sort of like McDonald's hamburgers, um, 50 00:03:12,810 --> 00:03:16,610 crate loads of steel, uh, truckloads of corn, 51 00:03:16,800 --> 00:03:20,650 things like that have been commodified. Um, 52 00:03:21,480 --> 00:03:26,250 milk, you go into the grocery store, 2% milk is 2% milk, pretty much even flour, 53 00:03:26,250 --> 00:03:30,010 sugar, all the way, things like that. Precisely. Yeah. Um, 54 00:03:30,150 --> 00:03:34,490 and also things like lumber. Um, yes, specific, you know, 55 00:03:34,840 --> 00:03:37,690 when you're, when you're pulling 'em off, off the rack in the yard, 56 00:03:37,690 --> 00:03:40,970 you want check for twist and stuff like that. 57 00:03:41,110 --> 00:03:42,890 But if you're buying in bulk, 58 00:03:42,890 --> 00:03:46,970 you buy in board feet and you just get what you get. Um, 59 00:03:47,980 --> 00:03:52,890 so by creating these things that are basically all the same as one 60 00:03:52,890 --> 00:03:53,723 another, 61 00:03:53,980 --> 00:03:58,810 we get the efficiencies that allow our sort of modern economy to 62 00:03:59,010 --> 00:03:59,340 function, 63 00:03:59,340 --> 00:04:04,340 because otherwise you'd have to be personally cognizant 64 00:04:04,790 --> 00:04:09,660 of every single sugar farmer on earth to figure out whether you like 65 00:04:09,660 --> 00:04:11,980 this guy's sugar or that guy's sugar. 66 00:04:12,520 --> 00:04:17,140 And you'd never be able to make a factory that, you know, 67 00:04:17,250 --> 00:04:21,620 cranks out Coca-Cola or buy a bag 68 00:04:21,990 --> 00:04:26,500 to make cookies for, you know, Christmas or whatever. Um, 69 00:04:27,870 --> 00:04:32,740 so this commodification simplifies the task 70 00:04:33,280 --> 00:04:38,020 for both producers because they no longer have to go through the 71 00:04:38,020 --> 00:04:42,980 work of creating a specific brand that they then have to market 72 00:04:42,980 --> 00:04:47,140 against the backdrop of many other people that are all trying to 73 00:04:47,350 --> 00:04:50,940 produce what is more or less exactly the same thing, um, 74 00:04:50,940 --> 00:04:55,860 but also simplify things for consumers because they don't need to investigate 75 00:04:55,880 --> 00:05:00,420 the sort of past history of where this particular hunk of 76 00:05:00,820 --> 00:05:04,900 steel or this particular bag of flour comes from, 77 00:05:04,900 --> 00:05:08,660 because it's a bag of flour and it's part of the system that's just guaranteeing 78 00:05:08,660 --> 00:05:11,180 a, a quality level there. Uh, 79 00:05:12,160 --> 00:05:16,940 and what that enables is these very efficient marketplaces where people are 80 00:05:16,940 --> 00:05:19,820 buying and selling copies of more or less the same thing, 81 00:05:20,120 --> 00:05:24,540 but from many different sources and to many different destinations, 82 00:05:25,280 --> 00:05:30,180 and that those sorts of markets have been in use for centuries Now, 83 00:05:31,030 --> 00:05:33,300 um, where, 84 00:05:34,000 --> 00:05:38,400 where I step in is that computers 85 00:05:38,440 --> 00:05:43,240 basically have been giving the people operating these markets 86 00:05:43,340 --> 00:05:48,280 and operating within these markets as middlemen more of a boost 87 00:05:48,910 --> 00:05:52,720 than they've been giving those, those edge users, the, 88 00:05:52,720 --> 00:05:54,880 the producers on the one hand, 89 00:05:54,880 --> 00:05:59,040 and the consumers who are typically companies that we would actually interact 90 00:05:59,040 --> 00:06:02,480 with as consumers ourselves. Um, 91 00:06:02,500 --> 00:06:07,360 and so what that has ha caused is that these markets are becoming less 92 00:06:07,360 --> 00:06:10,280 stable and more expensive. Um, 93 00:06:10,580 --> 00:06:15,450 and we can see some of the instability in supply 94 00:06:15,770 --> 00:06:17,970 chain disruptions, uh, 95 00:06:18,020 --> 00:06:22,850 in how inflation is moving into food pricing and so on. 96 00:06:23,620 --> 00:06:24,453 Um, 97 00:06:25,180 --> 00:06:30,140 and what my system does is, uh, 98 00:06:31,430 --> 00:06:34,020 creates a new role, uh, 99 00:06:34,020 --> 00:06:38,980 within the marketplace for information and, 100 00:06:39,560 --> 00:06:44,380 and effectively fixes the cost of information to the whole 101 00:06:44,380 --> 00:06:46,100 marketplace, um, 102 00:06:47,070 --> 00:06:51,980 by being able to adjust the rate of return. So right now, 103 00:06:52,590 --> 00:06:54,740 if you know stuff that other people don't know, 104 00:06:54,760 --> 00:06:58,540 you can trade in ways that will give you, uh, 105 00:06:59,210 --> 00:07:02,340 a good rate of return in the marketplace. Uh, 106 00:07:02,340 --> 00:07:07,260 and so your goal is to trade as much as possible on a fairly low rate of 107 00:07:07,260 --> 00:07:09,100 return to get as much money as you can. 108 00:07:09,410 --> 00:07:13,780 What my system does is raises the rate of return, 109 00:07:14,000 --> 00:07:18,930 but fixes the total amount of advantage that can 110 00:07:18,930 --> 00:07:19,410 be gained. 111 00:07:19,410 --> 00:07:24,130 And so what happens is the incentive shifts from trying 112 00:07:24,140 --> 00:07:28,370 to get as much deal flow and noise into the market as possible 113 00:07:28,860 --> 00:07:33,450 as trying to communicate what you know as clearly, succinctly, 114 00:07:33,470 --> 00:07:37,770 and quickly as possible so that you get to secure the advantage 115 00:07:38,040 --> 00:07:39,130 over other parties. 116 00:07:39,480 --> 00:07:44,370 Sure. So, you know, we just, uh, ended the holiday season, or we're still, uh, 117 00:07:44,370 --> 00:07:49,090 kind of celebrating the holidays. And in my area, there are a number of, 118 00:07:49,820 --> 00:07:53,810 um, of women or individuals, people, regardless of, 119 00:07:53,810 --> 00:07:55,490 of gender that, uh, 120 00:07:55,490 --> 00:08:00,490 that bake Christmas cookies and sell those Christmas cookies to, uh, 121 00:08:00,490 --> 00:08:03,970 other families or individuals around the holiday time. 122 00:08:04,350 --> 00:08:08,970 One of the things that we saw this year was that those individuals that, uh, 123 00:08:08,970 --> 00:08:13,410 kind of count on that extra money at the holiday season in the middle of winter, 124 00:08:13,780 --> 00:08:14,130 uh, 125 00:08:14,130 --> 00:08:18,770 by selling those cookies were kind of almost forced out of their own marketplace 126 00:08:18,970 --> 00:08:23,730 because they use commodities like sugar, um, 127 00:08:23,890 --> 00:08:28,210 flour, nuts, or something that have become extremely expensive, 128 00:08:28,860 --> 00:08:32,890 um, in the baking that they do. So how would your system, 129 00:08:33,580 --> 00:08:38,050 um, solve any of the problems that those individuals are dealing with, 130 00:08:38,500 --> 00:08:42,530 uh, because commodity prices have have risen, uh, 131 00:08:42,530 --> 00:08:45,130 especially since the pandemic. Um, 132 00:08:45,130 --> 00:08:49,930 would your system make things less expensive or adjust, 133 00:08:50,060 --> 00:08:54,930 uh, the pricing, uh, any, any more than the commodities market system that, 134 00:08:54,960 --> 00:08:56,160 that we have in place now? 135 00:08:57,600 --> 00:09:01,470 So what my system would do is reduce the overhead costs, 136 00:09:02,090 --> 00:09:06,110 and those are multifarious. So for example, 137 00:09:06,110 --> 00:09:11,070 one of the most overhead costed commodities in the world for several decades 138 00:09:11,070 --> 00:09:12,750 was aluminum, um, 139 00:09:12,750 --> 00:09:17,070 where people had figured out this way to effectively 140 00:09:17,500 --> 00:09:21,710 hold up the entire aluminum market behind a, a rule. 141 00:09:22,320 --> 00:09:22,670 Um, 142 00:09:22,670 --> 00:09:27,190 that meant that if you actually wanted the aluminum that you'd bought delivered 143 00:09:27,190 --> 00:09:31,830 to you, then you had to pay, I believe it was an extra 21%. Um, 144 00:09:31,880 --> 00:09:36,430 so if you're one of these women that's getting Christmas cookies and wrapping 145 00:09:36,430 --> 00:09:40,310 them up in aluminum foil over the last, uh, 146 00:09:40,500 --> 00:09:43,070 couple decades, um, 147 00:09:43,950 --> 00:09:48,830 something like 25% of the money that you spent on aluminum was going to 148 00:09:49,030 --> 00:09:53,470 these middlemen, um, that were just brokering the deal between, 149 00:09:54,280 --> 00:09:57,070 uh, aluminum miners and, 150 00:09:57,690 --> 00:10:02,070 and the manufacturers of the, the sheet metal that you were buying. Um, 151 00:10:03,320 --> 00:10:04,630 in other industries, 152 00:10:04,760 --> 00:10:09,070 we see things that are not really as extreme as that, 153 00:10:09,250 --> 00:10:13,350 but overhead costs are still close to, 154 00:10:13,960 --> 00:10:17,430 uh, or a large fraction of production costs. 155 00:10:17,430 --> 00:10:22,270 And so what my system would do by reducing these overhead costs is it would 156 00:10:22,270 --> 00:10:25,670 make production much more attractive, 157 00:10:26,530 --> 00:10:31,030 and by then drawing more people into the farming space, 158 00:10:31,540 --> 00:10:36,030 supply would increase, and those, those costs would come down. 159 00:10:36,840 --> 00:10:39,990 Um, the other shift that it, 160 00:10:39,990 --> 00:10:44,990 it should enable is regularization of price. Um, 161 00:10:45,570 --> 00:10:49,830 one of the things I myself, uh, make fruitcake during the holiday season, 162 00:10:50,600 --> 00:10:54,270 um, as many as 40 pounds some years, uh, 163 00:10:54,540 --> 00:10:59,350 eggs went from about 9 cents a piece in my local markets. 164 00:11:00,320 --> 00:11:01,830 Um, that was, 165 00:11:01,830 --> 00:11:06,750 that was in late November to 25 cents a piece by mid-December. 166 00:11:07,560 --> 00:11:12,510 Um, and there's more than one egg per pound of fruitcake. 167 00:11:12,680 --> 00:11:16,870 So that's, uh, that's a pretty significant shift, um, 168 00:11:16,870 --> 00:11:20,350 in sort of the total cost per pound of fruitcake, uh, 169 00:11:20,350 --> 00:11:24,350 when you're talking about a nearly three xing of just that price. 170 00:11:24,900 --> 00:11:28,590 Sure. So, uh, you know, Noah, we have to get to our first break. 171 00:11:28,590 --> 00:11:32,030 We'll be back after, uh, a brief message from, uh, 172 00:11:32,030 --> 00:11:34,670 those who have sponsored us today. And when we come back, 173 00:11:34,670 --> 00:11:39,150 I want to talk a little bit, uh, move from talking about, uh, 174 00:11:39,150 --> 00:11:41,950 commodity markets to game theory, 175 00:11:42,170 --> 00:11:44,710 but we'll do that after this brief break. 176 00:11:47,810 --> 00:11:52,310 You are listening to commonalities where guests find common ground through 177 00:11:52,630 --> 00:11:53,960 uncommon conversations. 178 00:11:54,480 --> 00:11:57,960 We'll be back after this brief break to recognize our sponsors. 179 00:12:01,740 --> 00:12:03,040 Are you enjoying the program? 180 00:12:03,040 --> 00:12:07,200 You're listening to support commonalities and help keep us on the air by making 181 00:12:07,200 --> 00:12:12,160 a donation of five, 10, or $25, or any amount you feel comfortable sharing 182 00:12:12,160 --> 00:12:16,080 online@donate.commonalities.online. Again, 183 00:12:16,080 --> 00:12:20,160 that is donate.commonalities.online on the worldwide web. 184 00:12:20,380 --> 00:12:24,920 Buy our host a cup of coffee or help pay for airtime at donate dot commonalities 185 00:12:24,920 --> 00:12:25,753 online. 186 00:12:32,760 --> 00:12:35,640 Hello, Uniontown Mayor, bill Gerkey here. 187 00:12:35,890 --> 00:12:39,800 There's nothing quite like the feeling of home, that sense of belonging, 188 00:12:39,960 --> 00:12:44,040 those fall Friday nights under the lights, those winter nights in the gym, 189 00:12:44,320 --> 00:12:45,200 watching our red Raiders, 190 00:12:45,560 --> 00:12:49,760 those refreshing spring afternoons at Bailey Park rooting on our Red Raider 191 00:12:50,160 --> 00:12:51,280 softball and baseball teams. 192 00:12:52,230 --> 00:12:56,280 I am grateful for those memories and hope our community's children and 193 00:12:56,280 --> 00:12:59,680 grandchildren can enjoy those memories too. But to do that, 194 00:12:59,680 --> 00:13:03,840 we have to plan for the future. During my first term in office, 195 00:13:03,840 --> 00:13:07,280 the city has got Bailey Park back to a place where we can be proud of. 196 00:13:08,000 --> 00:13:11,240 Begun our city's first comprehensive plan in over 20 years. 197 00:13:11,970 --> 00:13:15,160 Started work on the city section of the Sheep Skin Trail, 198 00:13:15,870 --> 00:13:20,080 worked on eliminating blighted properties and are rebuilding the city's 199 00:13:20,080 --> 00:13:24,000 neighborhoods. We've updated the faulty equipment in the parking garages, 200 00:13:24,140 --> 00:13:27,720 and we're bringing a more competitive, reliable, faster, 201 00:13:27,720 --> 00:13:32,600 and less expensive internet service to our city residents. We have done a lot, 202 00:13:32,820 --> 00:13:37,680 but there's still more to do. So, I Bill Gerkey. I'm running for a second term. 203 00:13:38,120 --> 00:13:41,320 We're Uniontown proud, we're Uniontown strong, 204 00:13:41,660 --> 00:13:46,440 and together we can continue to rebuild Uniontown for the next generation. 205 00:13:48,550 --> 00:13:49,040 Paid. 206 00:13:49,040 --> 00:13:49,880 For by Mayor Bill. 207 00:13:50,000 --> 00:13:50,833 Gerkey. 208 00:13:56,190 --> 00:13:58,160 When it comes to buying a home, 209 00:13:58,510 --> 00:14:01,600 what you see isn't exactly what you get. 210 00:14:01,990 --> 00:14:06,400 That's why home buyers should call Dave Dowling At Grandview 211 00:14:06,400 --> 00:14:11,160 Inspections at 7 2 4 2 0 8 4 1 0 8. 212 00:14:11,470 --> 00:14:14,920 You'll see colorful flowers, freshly painted walls, 213 00:14:15,210 --> 00:14:19,480 granite countertops, blaming hardwood floors and other touches. 214 00:14:19,830 --> 00:14:23,720 What you can't see is the cracks, ancient plumbing, 215 00:14:24,040 --> 00:14:25,280 dangerous wiring, 216 00:14:25,610 --> 00:14:30,400 or broken appliances that might be revealed when you hire a 217 00:14:30,400 --> 00:14:33,920 home inspector. And when it comes to home inspectors, 218 00:14:34,090 --> 00:14:38,520 knowing yours has the qualifications and experience needed, 219 00:14:38,630 --> 00:14:40,760 should be your number one concern. 220 00:14:41,190 --> 00:14:45,920 Dave Dowling with Grand View Inspections is an architectural engineer 221 00:14:45,990 --> 00:14:50,760 with over 30 years of commercial construction experience and hundreds of 222 00:14:51,000 --> 00:14:52,520 inspections under his belt. 223 00:14:53,390 --> 00:14:58,280 A home inspection is an opportunity for you to hire an expert to walk 224 00:14:58,280 --> 00:15:03,200 through the home and prepare a report outlining the home's major components. 225 00:15:03,430 --> 00:15:08,320 What needs immediate attention and what will require maintenance after you move 226 00:15:08,320 --> 00:15:11,800 in Your home is one of your biggest investments. 227 00:15:12,050 --> 00:15:16,040 So make sure your investment is everything you hoped it to be. 228 00:15:16,310 --> 00:15:19,920 Call Dave Dowling at Grandview Inspections at 229 00:15:19,920 --> 00:15:23,640 7 2 4 2 0 8 4 1 0 8. 230 00:15:29,940 --> 00:15:33,590 Thanks for staying with us here on commonalities. I'm your host, Matt Dowling, 231 00:15:33,590 --> 00:15:35,270 alongside Noah Healy, 232 00:15:35,540 --> 00:15:40,390 a professional algorithm developer and recreational mathematician. 233 00:15:40,390 --> 00:15:43,990 That means he does what many of us put off, uh, 234 00:15:43,990 --> 00:15:47,430 mathematics just for fun, and, uh, 235 00:15:47,430 --> 00:15:51,990 and he's an expert in his field. Before we went to the break, we mentioned, 236 00:15:52,160 --> 00:15:54,670 uh, uh, something called game theory, 237 00:15:54,850 --> 00:15:59,230 and I wanna talk a little bit about game theory and, uh, 238 00:15:59,230 --> 00:16:03,990 allow Noah to explain to us how he practices mathematics in 239 00:16:03,990 --> 00:16:05,310 relation to game theory. 240 00:16:06,800 --> 00:16:10,630 Uh, well, sure. Game theory is the mathematics of strategy, 241 00:16:10,850 --> 00:16:12,070 and in particular, 242 00:16:12,650 --> 00:16:17,510 how a system evolves and how decision making evolves when there's more 243 00:16:17,510 --> 00:16:20,230 than one decision maker, uh, 244 00:16:20,230 --> 00:16:23,330 which of course is normally how things work out. 245 00:16:23,460 --> 00:16:27,730 Usually there's more than one person that's that that has interests, 246 00:16:28,150 --> 00:16:32,840 and so merely trying to do what you want to do isn't, 247 00:16:32,840 --> 00:16:36,360 isn't gonna work out that well. Um, in, 248 00:16:36,570 --> 00:16:41,080 in sort of board games, uh, like chess or tic-tac toe, 249 00:16:41,460 --> 00:16:45,960 one of the first lessons to teach is that, um, 250 00:16:46,170 --> 00:16:50,280 wishful strategies aren't really that valuable. Um, 251 00:16:50,370 --> 00:16:54,800 if you make a move hoping that your opponent won't see what you're trying to do, 252 00:16:55,170 --> 00:16:59,600 so that you can win, um, in the very beginning of a game, 253 00:16:59,600 --> 00:17:01,480 that might work out for you. But as, 254 00:17:01,890 --> 00:17:04,280 as you and your opponents become more sophisticated, 255 00:17:04,450 --> 00:17:06,840 they're likely to see what you're trying to do. 256 00:17:06,860 --> 00:17:11,800 And so making moves that depend on your opponent's failures become 257 00:17:12,110 --> 00:17:15,600 less desirable as moves. Um, 258 00:17:16,880 --> 00:17:20,640 where game theory really shines is that, 259 00:17:21,690 --> 00:17:22,523 uh, 260 00:17:23,710 --> 00:17:28,030 virtually everything can be thought about in terms of 261 00:17:28,480 --> 00:17:30,150 an interested decision maker. 262 00:17:30,850 --> 00:17:35,560 And so other kinds of problems like 263 00:17:35,820 --> 00:17:39,320 how to carry out computations, how to carry out communications, 264 00:17:39,700 --> 00:17:43,240 how to carry out calculations, uh, 265 00:17:43,240 --> 00:17:47,880 how to do physics can be done considering nature 266 00:17:48,210 --> 00:17:51,680 as a player in the game, or, uh, 267 00:17:52,040 --> 00:17:56,640 considering the network as a player in the game that has interest that it's 268 00:17:56,640 --> 00:17:58,280 attempting to, to carry out. 269 00:17:58,280 --> 00:18:03,280 And then you are doing other things to try to get what you want out 270 00:18:03,280 --> 00:18:08,080 of this system that's trying to get what it wants. Um, and for markets, 271 00:18:08,080 --> 00:18:13,040 this is particularly important because essentially in the marketplace, 272 00:18:13,040 --> 00:18:15,200 there are three key 273 00:18:16,900 --> 00:18:21,290 factors that each person has access to. There's currency money, 274 00:18:22,060 --> 00:18:26,210 um, there's the good or service that's being provided within the marketplace, 275 00:18:26,470 --> 00:18:28,530 but then there's information, 276 00:18:28,630 --> 00:18:32,730 information about what pricing levels are 277 00:18:33,340 --> 00:18:36,570 of value to yourself and others. 278 00:18:37,550 --> 00:18:39,370 And right now, 279 00:18:40,100 --> 00:18:44,770 we only address that third part of the marketplace. Emergently. 280 00:18:45,180 --> 00:18:50,170 Um, existing markets basically require many, many people to buy and sell. 281 00:18:50,170 --> 00:18:51,090 So many in fact, 282 00:18:51,090 --> 00:18:55,890 that some people are merely buying and selling and don't actually 283 00:18:56,280 --> 00:18:59,930 make or use the thing that they're trading. Um, 284 00:19:01,070 --> 00:19:02,650 but with game theory, 285 00:19:02,650 --> 00:19:06,410 we can come up with an interest for those informed parties, 286 00:19:06,410 --> 00:19:10,050 which include the, the makers, include the users, 287 00:19:10,070 --> 00:19:14,890 but also include independent experts that that research and study 288 00:19:14,890 --> 00:19:18,930 and, and keep up with, you know, the news and trends and so on. 289 00:19:19,660 --> 00:19:24,210 Um, and allow basically the entire 290 00:19:24,880 --> 00:19:29,090 interested community in the market to merge their 291 00:19:29,410 --> 00:19:33,850 information together into a supermind, uh, 292 00:19:33,850 --> 00:19:38,690 that can then be used and accessed by every individual 293 00:19:38,690 --> 00:19:43,130 within the market. So it's not just you out there making some cookies, 294 00:19:43,800 --> 00:19:46,290 it's a sort of 295 00:19:47,830 --> 00:19:52,780 virtual corporation of everyone and what they want 296 00:19:53,010 --> 00:19:57,300 trying to find the best level for society to operate at. 297 00:20:02,120 --> 00:20:05,830 So what I'm kind of picking up from our conversation is the, 298 00:20:05,830 --> 00:20:10,550 the crux of what we're getting at is that individuals that are buying and 299 00:20:10,550 --> 00:20:13,070 selling and not producing it all, um, 300 00:20:13,070 --> 00:20:16,310 those are the people that are trading in the commodities market. 301 00:20:16,310 --> 00:20:20,350 Those are the middle men, those are the people that, um, 302 00:20:20,690 --> 00:20:24,310 are driving costs up. So correct me if I'm wrong, 303 00:20:24,520 --> 00:20:26,390 in the system that you're proposing, 304 00:20:26,640 --> 00:20:30,630 we would kind of be eliminating those middle men, uh, 305 00:20:30,630 --> 00:20:33,030 or making them less relevant. Is that correct? 306 00:20:34,100 --> 00:20:38,030 It's not exactly that. So they have existed for centuries. 307 00:20:38,030 --> 00:20:42,830 What's causing them to drive costs up today is that technology 308 00:20:43,370 --> 00:20:47,520 has enabled them to do their jobs better without 309 00:20:47,840 --> 00:20:52,640 simultaneously increasing the competitive forces that would 310 00:20:52,640 --> 00:20:55,000 keep them sort of in their lane. 311 00:20:55,650 --> 00:21:00,360 So what I'm doing is creating a new system where 312 00:21:01,110 --> 00:21:04,720 they basically have their own dedicated road, um, 313 00:21:04,900 --> 00:21:09,880 and they can go out there and just play the game among 314 00:21:09,880 --> 00:21:10,460 themselves. 315 00:21:10,460 --> 00:21:15,120 And so rather than having a situation 316 00:21:15,120 --> 00:21:20,120 where you've got sort of Olympic athletes competing with children and winning 317 00:21:20,120 --> 00:21:22,880 by larger and larger margins, um, 318 00:21:22,880 --> 00:21:25,280 the Olympic athletes have to go compete with each other. 319 00:21:25,860 --> 00:21:28,000 And while it's still very relevant, 320 00:21:28,000 --> 00:21:30,760 what they're doing is important to the marketplace as a whole, 321 00:21:31,190 --> 00:21:35,880 it's no longer the case that they can sort of bully people who are not 322 00:21:35,890 --> 00:21:37,720 at their level. Um, 323 00:21:37,730 --> 00:21:42,640 instead they have to provide the actual service that they're, 324 00:21:42,770 --> 00:21:45,120 they're supposed to provide within the marketplace, 325 00:21:45,200 --> 00:21:49,720 which is this information and security, uh, 326 00:21:49,720 --> 00:21:52,640 which is what's valuable about the market. 327 00:21:57,320 --> 00:22:01,310 So, you know, if, if I am the common everyday American, 328 00:22:01,310 --> 00:22:06,030 the Pennsylvanian that, uh, that goes to work for eight hours a day and, 329 00:22:06,030 --> 00:22:07,950 and comes home and is raising children, 330 00:22:08,770 --> 00:22:12,630 why would a topic like this interest me? 331 00:22:12,680 --> 00:22:16,310 Or why should it be important to me? You know, what kind of, 332 00:22:16,310 --> 00:22:21,310 what is the relevance in daily life to, uh, to considering things this way? 333 00:22:23,200 --> 00:22:26,070 So market costs are a, 334 00:22:26,820 --> 00:22:31,710 a drag on economic output of the country. And, 335 00:22:32,120 --> 00:22:35,150 um, for the last number that I've got from the US government, 336 00:22:35,310 --> 00:22:39,670 commodity market overheads, uh, are just, 337 00:22:39,670 --> 00:22:42,430 we're just shy of 800 billion a year, 338 00:22:42,890 --> 00:22:46,510 and that was eight years ago. Um, 339 00:22:49,400 --> 00:22:54,230 if you think about the actual growth rate of the economy, 340 00:22:54,840 --> 00:22:59,670 um, the, the sort of smeared out average over the last 30 years, you know, 341 00:22:59,670 --> 00:23:02,110 whether we're in a recession, whether or not we're in a recession, 342 00:23:02,110 --> 00:23:06,550 that's sort of irrelevant for decades. Actually, 343 00:23:06,550 --> 00:23:10,750 for the last 50 years, we've been growing at around 2% a year. Um, 344 00:23:10,750 --> 00:23:15,630 which means that the growth rate of the entire economy is in the 345 00:23:15,630 --> 00:23:18,030 four to 500 billion a year range. 346 00:23:19,040 --> 00:23:21,230 If that cost of 800 billion, 347 00:23:21,230 --> 00:23:25,750 which is almost certainly significantly higher now with inflation and even more 348 00:23:25,750 --> 00:23:30,630 technology, uh, were to be reduced by even 50%, 349 00:23:31,260 --> 00:23:35,390 that would go directly onto the 350 00:23:35,740 --> 00:23:40,110 lifestyles of individual, uh, uh, you know, 351 00:23:40,320 --> 00:23:43,430 regular nine to five Americans. So a, 352 00:23:43,930 --> 00:23:48,720 you could see 25 to 40% increases 353 00:23:48,720 --> 00:23:53,440 in farm, uh, uh, profits, for example. Um, so a, 354 00:23:53,440 --> 00:23:57,040 a middle class family could become an upper class family just overnight from 355 00:23:57,040 --> 00:24:01,240 things like this. And then that ripples through the rest of the community as, 356 00:24:01,690 --> 00:24:05,360 as suddenly that becomes a better employment option, 357 00:24:05,690 --> 00:24:09,960 or the increased wealth leads to other types of, 358 00:24:10,090 --> 00:24:14,440 of investments that then feed back into the system. So 359 00:24:16,110 --> 00:24:16,943 the, 360 00:24:17,110 --> 00:24:21,450 the success and adoption of this technology could 361 00:24:21,520 --> 00:24:25,730 double the rate at which the economy grows in a fashion 362 00:24:25,970 --> 00:24:30,970 which directly impacts working in middle class families. 363 00:24:31,510 --> 00:24:32,570 And that would, 364 00:24:33,390 --> 00:24:38,240 that would shift the trajectory of wealth creation in this 365 00:24:38,240 --> 00:24:43,000 country and really around the world in a fundamental way. For, 366 00:24:43,420 --> 00:24:48,280 you know, the last market system lasted for 800 years. Uh, 367 00:24:48,280 --> 00:24:50,680 so for centuries to come, the, 368 00:24:50,820 --> 00:24:55,720 the potential upsides here are difficult 369 00:24:55,720 --> 00:24:58,410 to wrap your, your head around. Um, 370 00:24:58,480 --> 00:25:03,410 I can't really even fully conceive of how much advantage is to 371 00:25:03,410 --> 00:25:08,410 be gained from squeezing hundreds of billions of dollars 372 00:25:08,410 --> 00:25:10,570 in cost out of the system every year, 373 00:25:11,070 --> 00:25:14,610 and being able to put that into people's pockets and, 374 00:25:14,610 --> 00:25:16,170 and into their lifestyles. 375 00:25:21,110 --> 00:25:25,100 So we have to get one more break in when we come back from the break. I, 376 00:25:25,100 --> 00:25:26,940 I wanna discuss, um, 377 00:25:26,960 --> 00:25:31,580 the implementation process or what conversations 378 00:25:31,730 --> 00:25:35,660 need to take place, um, to take advantage of, 379 00:25:35,830 --> 00:25:39,660 of some of the ways that you're talking about squeezing, uh, 380 00:25:40,100 --> 00:25:42,300 extra money out of the system. 381 00:25:42,440 --> 00:25:45,420 But we'll do that when we come back here on commonalities. 382 00:25:48,560 --> 00:25:53,260 You are listening to commonalities where guests find common ground through 383 00:25:53,620 --> 00:25:54,820 uncommon conversations. 384 00:25:55,340 --> 00:25:58,820 We'll be back after this brief break to recognize our sponsors. 385 00:26:05,220 --> 00:26:08,020 Hello, Uniontown Mayor, bill Gerkey here. 386 00:26:08,270 --> 00:26:12,380 There's nothing quite like the feeling of home, that sense of belonging, 387 00:26:12,540 --> 00:26:16,620 those fall Friday nights under the lights, those winter nights in the gym, 388 00:26:16,900 --> 00:26:21,020 watching our red Raiders, those refreshing spring afternoons at Bailey Park, 389 00:26:21,190 --> 00:26:23,980 rooting on our Red Raider softball and baseball teams. 390 00:26:24,930 --> 00:26:28,660 I am grateful for those memories and hope our community's children and 391 00:26:28,660 --> 00:26:32,300 grandchildren can enjoy those memories too. But to do that, 392 00:26:32,300 --> 00:26:36,420 we have to plan for the future. During my first term in office, 393 00:26:36,420 --> 00:26:39,900 the city has got Bailey Park back to a place where we can be proud of. 394 00:26:40,660 --> 00:26:44,000 Begun our city's first comprehensive plan in over 20 years. 395 00:26:44,730 --> 00:26:47,760 Started work on the city's section of the Sheep Skin Trail, 396 00:26:48,470 --> 00:26:52,640 worked on eliminating blighted properties and are rebuilding the city's 397 00:26:52,640 --> 00:26:56,560 neighborhoods. We've updated the faulty equipment in the parking garages, 398 00:26:56,660 --> 00:27:00,160 and we're bringing a more competitive, reliable, faster, 399 00:27:00,160 --> 00:27:03,440 and less expensive internet service to our city residents. 400 00:27:04,450 --> 00:27:09,040 We have done a lot, but there's still more to do. So, I Bill Gerkey, 401 00:27:09,040 --> 00:27:13,880 I'm running for a second term. We're Uniontown proud, we're Uniontown strong, 402 00:27:14,220 --> 00:27:18,880 and together we can continue to rebuild Uniontown for the next generation. 403 00:27:21,030 --> 00:27:21,520 Paid. 404 00:27:21,520 --> 00:27:22,960 For by Mayor Ky. 405 00:27:28,650 --> 00:27:32,800 Is your business using analog strategies in a digital marketing world? 406 00:27:33,250 --> 00:27:33,920 If so, 407 00:27:33,920 --> 00:27:38,560 then contact Matthew or Rebecca Dowling at Coordinated 360 for a 408 00:27:38,560 --> 00:27:42,480 professional consultation where we bring in-depth knowledge and functional 409 00:27:42,680 --> 00:27:44,600 expertise with a holistic perspective. 410 00:27:45,480 --> 00:27:50,160 Coordinated 360 provides digital marketing, paid ad and media buying services, 411 00:27:50,180 --> 00:27:55,080 web design, social media management, video production, and more for businesses, 412 00:27:55,100 --> 00:27:59,520 organizations, and political campaigns with decades of experience. 413 00:27:59,520 --> 00:28:04,360 Matt and Becky at Coordinated 360 can help you craft your unique message 414 00:28:04,540 --> 00:28:05,960 and share it with the world. 415 00:28:06,100 --> 00:28:09,560 For a no risk media evaluation and recommendations, 416 00:28:09,790 --> 00:28:13,840 call 7 2 4 3 2 0 22 12, 417 00:28:14,130 --> 00:28:16,120 or visit us online at 418 00:28:16,740 --> 00:28:21,440 www.coordinatedthreesixty.com. Find us also on Facebook, 419 00:28:21,440 --> 00:28:22,800 Instagram, and Twitter, 420 00:28:23,370 --> 00:28:26,920 or email info coordinated three sixty.com. 421 00:28:29,660 --> 00:28:30,960 Are you enjoying the program? 422 00:28:30,960 --> 00:28:35,120 You're listening to support commonalities and help keep us on the air by making 423 00:28:35,120 --> 00:28:37,920 a donation of five, 10, or $25, 424 00:28:38,170 --> 00:28:43,000 or any amount you feel comfortable sharing online@donate.commonalities.online. 425 00:28:43,160 --> 00:28:48,080 Again, that is donate.commonalities.online on the worldwide web. 426 00:28:48,300 --> 00:28:52,840 Buy our host a cup of coffee or help pay for airtime at donate dot commonalities 427 00:28:52,840 --> 00:28:53,673 online. 428 00:29:01,470 --> 00:29:05,200 A girl and a guy named Slip and Sly, we're sitting in the kitchen. 429 00:29:05,200 --> 00:29:09,040 Megan Rhubarb Pie was a hot commodity, a hot commodity. 430 00:29:09,040 --> 00:29:10,760 The rhubarb pie was a. 431 00:29:10,760 --> 00:29:15,120 Hot commodity. Thanks for staying with us. My guest today is Noah Healy, 432 00:29:15,590 --> 00:29:20,560 a professional algorithm developer and a recreational mathematician. 433 00:29:20,600 --> 00:29:22,520 We're talking finances today, 434 00:29:22,520 --> 00:29:26,080 and we're talking about the commodities market, 435 00:29:26,690 --> 00:29:31,520 as well as a new method that NOAA is proposing that would 436 00:29:32,400 --> 00:29:35,600 actually squeeze some additional revenue, uh, 437 00:29:35,600 --> 00:29:38,680 out of the system and would give, uh, 438 00:29:38,750 --> 00:29:43,440 more money to the individuals who are producing goods to put back 439 00:29:43,440 --> 00:29:48,280 into the market. So I wanna talk Noah, about practical application. 440 00:29:48,430 --> 00:29:52,960 I served for six years in the Pennsylvania State House and, uh, 441 00:29:53,600 --> 00:29:58,360 voted annually on a budget that was 38 plus billion dollars, 442 00:29:59,050 --> 00:29:59,883 um, 443 00:30:00,100 --> 00:30:04,080 not including some of the federal money that comes into the Commonwealth to be 444 00:30:04,080 --> 00:30:07,280 spent, but we didn't even, uh, 445 00:30:07,280 --> 00:30:12,080 have conversations like this where we're talking about ways to 446 00:30:12,290 --> 00:30:17,080 improve the market system As we were discussing, um, 447 00:30:17,580 --> 00:30:20,600 the state's annual budget, of course, 448 00:30:20,600 --> 00:30:25,440 we talked about taxation and making things friendlier for the business 449 00:30:25,440 --> 00:30:30,040 community, uh, so that businesses would want to, to come here to Pennsylvania. 450 00:30:30,660 --> 00:30:32,000 But how, uh, 451 00:30:32,150 --> 00:30:37,120 likely is the implementation of your proposal, uh, 452 00:30:37,170 --> 00:30:42,120 to happen and what conversations need to happen at the state or federal levels, 453 00:30:42,730 --> 00:30:46,760 uh, for a shift like this to really come into fruition? 454 00:30:48,730 --> 00:30:53,240 Uh, well, so some of the conversations are happening around the patent office. 455 00:30:53,530 --> 00:30:58,260 Um, the patent system has, is really in a state of, 456 00:30:58,310 --> 00:31:00,500 of chaos at the moment, um, 457 00:31:01,120 --> 00:31:05,660 due to some litigation outstanding and also decades 458 00:31:05,870 --> 00:31:10,540 of difficulty in coping with the very divergent needs of 459 00:31:10,540 --> 00:31:13,420 kind of big tech and big pharma, uh, 460 00:31:13,420 --> 00:31:18,420 that have more or less opposite it strategies from one another and are 461 00:31:18,420 --> 00:31:22,540 both of great significance to, to the economy. Um, 462 00:31:23,470 --> 00:31:24,820 so I, 463 00:31:25,330 --> 00:31:30,100 I might be the first person in American history to have had my patent accepted 464 00:31:30,520 --> 00:31:35,300 and then had that acceptance withdrawn by internal departments 465 00:31:35,300 --> 00:31:39,620 within the patent office, um, twice. Um, 466 00:31:39,620 --> 00:31:41,740 happening once is rare. Um, 467 00:31:42,020 --> 00:31:45,700 reinstating after one is rarer still. Um, 468 00:31:46,620 --> 00:31:47,360 but, uh, 469 00:31:47,360 --> 00:31:51,000 but having it withdrawn the second time is something that no one I've ever spoke 470 00:31:51,000 --> 00:31:55,680 to has ever heard of. Um, that process is now going to a court for appeal. 471 00:31:56,130 --> 00:31:58,840 Uh, we'll see where that goes. Um, 472 00:31:59,390 --> 00:32:02,960 I am working with a handful of people around the world who are attempting to 473 00:32:02,960 --> 00:32:07,520 stand up marketplaces that incorporate this technology. Um, 474 00:32:08,340 --> 00:32:11,880 one of the explicit design concepts, uh, 475 00:32:11,880 --> 00:32:16,800 was that governments would in fact be able to implement markets 476 00:32:16,800 --> 00:32:20,920 like this for the benefit of their, their, uh, 477 00:32:20,920 --> 00:32:23,960 economies if they wanted to. Uh, 478 00:32:23,960 --> 00:32:28,560 the American governments at the state and federal level are extremely reluctant 479 00:32:29,370 --> 00:32:30,800 to do things like that. 480 00:32:30,970 --> 00:32:35,560 So I have not had conversations like that with any, 481 00:32:35,970 --> 00:32:39,800 uh, uh, federal or state level person. Um, 482 00:32:40,500 --> 00:32:45,270 conversations like this are important because one of the other, uh, 483 00:32:45,300 --> 00:32:50,070 barriers is that I am the first person since the Renaissance to 484 00:32:50,070 --> 00:32:54,990 propose a system which is algorithmically superior to the market 485 00:32:54,990 --> 00:32:56,750 system that is in place. 486 00:32:57,200 --> 00:33:02,150 So most people are not even aware that it's possible for 487 00:33:02,150 --> 00:33:06,990 markets to have the kinds of flaws I'm talking about or for improvements 488 00:33:07,340 --> 00:33:09,990 like the kinds of improvements I'm talking about to be made. 489 00:33:10,600 --> 00:33:15,390 So education at state or federal levels on that front 490 00:33:15,800 --> 00:33:20,630 is something that I am, I am working towards improving and trying to get, 491 00:33:21,040 --> 00:33:25,550 uh, awareness out for. Um, but yeah, 492 00:33:25,550 --> 00:33:26,383 Pennsylvania, 493 00:33:26,540 --> 00:33:30,830 like most states in the United States has a robust 494 00:33:30,830 --> 00:33:35,790 agriculture sector, uh, and an extensive extractive sector, uh, 495 00:33:35,790 --> 00:33:40,150 with iron coal and other commodity product 496 00:33:40,270 --> 00:33:44,550 being significant parts of the state's value chain. 497 00:33:45,240 --> 00:33:47,230 Um, and so yeah, 498 00:33:47,230 --> 00:33:52,190 it'd be perfectly possible for a state like Philadelphia or Pennsylvania, 499 00:33:52,190 --> 00:33:55,430 sorry, to set up, uh, uh, 500 00:33:55,780 --> 00:33:59,670 a pilot commodity marketplace, um, 501 00:33:59,870 --> 00:34:04,630 with this technology, um, and, and offer, 502 00:34:04,930 --> 00:34:08,710 its, its state producers, uh, 503 00:34:08,710 --> 00:34:13,150 what it amounts to a collective bargaining position 504 00:34:13,540 --> 00:34:16,190 that would allow these small, 505 00:34:16,190 --> 00:34:20,950 independent producers to stand on the same level as 506 00:34:20,950 --> 00:34:24,270 much larger, uh, you know, conglomerate, 507 00:34:24,270 --> 00:34:28,750 agribusiness type things could, could normally operate on. Um, 508 00:34:30,110 --> 00:34:34,560 that's generally more interesting to, uh, 509 00:34:34,560 --> 00:34:38,560 developing countries. And so, uh, the, that's, 510 00:34:38,560 --> 00:34:42,520 that's more of the focus right now of the people that are interested in trying 511 00:34:42,520 --> 00:34:45,280 to pick the technology up. But I'm, 512 00:34:45,280 --> 00:34:50,080 I'm open to every train leaving the station because everything's headed to the 513 00:34:50,080 --> 00:34:52,000 same destination. Uh, 514 00:34:52,100 --> 00:34:56,080 and the markets we have have been failing for 515 00:34:56,830 --> 00:35:00,480 really almost my entire lifetime. Um, and the, 516 00:35:00,480 --> 00:35:03,920 the problems are getting worse and more obvious, 517 00:35:03,920 --> 00:35:08,840 and we'll keep doing so because they aren't the result 518 00:35:08,890 --> 00:35:12,200 of, of human malfeasance. Um, 519 00:35:12,200 --> 00:35:15,960 they're the result of technological capability, 520 00:35:16,180 --> 00:35:18,960 and we are not going to, you know, 521 00:35:18,960 --> 00:35:21,280 collectively throw our cell phones away. 522 00:35:21,930 --> 00:35:25,680 So we're gonna keep having that capacity, uh, 523 00:35:25,680 --> 00:35:28,680 and that's gonna keep degrading the markets we have. 524 00:35:33,530 --> 00:35:35,780 Well, you know, first, don't, uh, 525 00:35:35,780 --> 00:35:39,800 don't feel bad about trying to make Philadelphia its own state here within the 526 00:35:39,800 --> 00:35:43,800 Commonwealth as we address problems. Uh, one of the things that we, we, 527 00:35:44,050 --> 00:35:46,360 we see a lot is that, uh, 528 00:35:46,360 --> 00:35:51,200 Philadelphia is unlike the rest of the Commonwealth of Pennsylvania in 529 00:35:51,200 --> 00:35:55,960 many ways, and has some unique challenges and also unique opportunities. 530 00:35:56,610 --> 00:35:59,080 Um, but that being said, you know, 531 00:35:59,260 --> 00:36:03,280 the method that you're proposing and what you're talking about makes production 532 00:36:03,280 --> 00:36:07,920 more profitable and increases the economic potential for 533 00:36:08,160 --> 00:36:12,120 everyone involved. So, you know, where is the downside? 534 00:36:12,120 --> 00:36:17,080 Who are the people that would fight a proposal like this? Um, 535 00:36:17,080 --> 00:36:20,400 who would it inconvenience? Who would not wanna see this happen? 536 00:36:22,090 --> 00:36:24,000 Uh, well, you know, 537 00:36:24,000 --> 00:36:27,560 everybody's conservative about the thing that they know best. Uh, 538 00:36:27,730 --> 00:36:31,840 so people who are highly successful within the existing system are highly 539 00:36:31,840 --> 00:36:35,480 resistant to the notion that it is a problem. Um, 540 00:36:35,830 --> 00:36:37,480 this is a, 541 00:36:37,590 --> 00:36:42,120 a sort of psychological block that I deal with when I talk to traders. 542 00:36:42,870 --> 00:36:47,120 They can't see that their incomes actually come from 543 00:36:47,680 --> 00:36:50,600 other people's costs. They just think, oh, 544 00:36:51,020 --> 00:36:54,720 I'm trading into this abstract market of traders. I'm good at my job, 545 00:36:54,720 --> 00:36:57,560 and so I make money. It's good to make money. 546 00:36:57,910 --> 00:37:02,200 It's good for people to be good at my job, therefore everything's fine. 547 00:37:02,930 --> 00:37:07,520 Um, but service provision is a tricky business because 548 00:37:08,510 --> 00:37:12,680 part of the value of a service is its cost. Um, 549 00:37:13,570 --> 00:37:17,800 if, if you break your arm and go to the doctor and get it reset, 550 00:37:18,510 --> 00:37:21,840 that's, that's great. You know, you're gonna keep having the use of your arm, 551 00:37:22,380 --> 00:37:24,760 but if you get that for a hundred dollars, 552 00:37:25,110 --> 00:37:28,440 it's better than if you get it for a million dollars, um, 553 00:37:28,440 --> 00:37:32,880 because it's the same service either way, and it's cheaper at a hundred dollars. 554 00:37:33,020 --> 00:37:37,160 And so if a service can be provided for less actual money, 555 00:37:37,630 --> 00:37:41,000 it's more valuable. But people that are providing that service, 556 00:37:42,150 --> 00:37:44,880 they can't always get there. Um, 557 00:37:45,620 --> 00:37:49,240 the other big shift this does is by 558 00:37:49,980 --> 00:37:53,800 essentially batching up all production, all consumption, 559 00:37:53,860 --> 00:37:58,620 and all information into these marketplaces where 560 00:37:58,980 --> 00:38:01,740 people are competing with one another. Um, 561 00:38:02,330 --> 00:38:07,260 that shifts the hedging risk structure because now the 562 00:38:07,260 --> 00:38:08,420 batches are, 563 00:38:08,420 --> 00:38:12,420 are much more intrinsically edged because they're much more intrinsically 564 00:38:12,420 --> 00:38:16,500 diversified than existing markets can offer. Um, 565 00:38:16,500 --> 00:38:21,020 and there are very successful companies that 566 00:38:21,360 --> 00:38:25,140 effectively do nothing but ensure these hedging risks. 567 00:38:25,720 --> 00:38:30,540 And so a marketplace that structurally eliminates that structurally eliminates 568 00:38:30,540 --> 00:38:31,580 the need for those companies. 569 00:38:31,950 --> 00:38:36,200 So they would have a direct interest in resisting this kind of technology. 570 00:38:41,480 --> 00:38:45,750 So we're getting back down to about the last two minutes of our program today, 571 00:38:45,930 --> 00:38:49,870 and I want to let you, uh, interject any closing thoughts you have. 572 00:38:49,870 --> 00:38:50,950 But before you do that, 573 00:38:51,280 --> 00:38:55,830 if someone wanted to learn more about anything we've discussed today, 574 00:38:56,280 --> 00:38:58,710 uh, what are some resources? I, 575 00:38:58,710 --> 00:39:02,270 I know with the internet there are a lot of resources out there, um, 576 00:39:02,270 --> 00:39:03,470 on the worldwide web. 577 00:39:03,470 --> 00:39:07,910 Where could someone find more information about commodity markets 578 00:39:08,450 --> 00:39:10,630 and, uh, about the system that, uh, 579 00:39:10,630 --> 00:39:12,510 that you currently have a patent pending for? 580 00:39:13,400 --> 00:39:16,630 Uh, well, I have a website@corddisk.com, 581 00:39:16,700 --> 00:39:20,350 C O O R D I S C, uh, for coordinated discovery. 582 00:39:20,370 --> 00:39:22,590 You can learn more about my system there. Uh, 583 00:39:22,590 --> 00:39:25,630 you can reach out to me personally, uh, either through LinkedIn, 584 00:39:25,630 --> 00:39:30,270 I'm Noah Healy there, or Noah p healy yahoo.com is my email. 585 00:39:30,270 --> 00:39:34,350 I'm happy to answer questions, um, for learning more about commodity markets. 586 00:39:35,090 --> 00:39:37,030 Wikipedia's article is actually fine, 587 00:39:37,030 --> 00:39:40,070 and you can start working your way through, you know, the, 588 00:39:40,170 --> 00:39:44,910 the bibliography there for other things, or in fact, uh, 589 00:39:44,910 --> 00:39:49,110 if you're fine with eighties rated r comedies, trading Places, 590 00:39:50,000 --> 00:39:50,370 um, 591 00:39:50,370 --> 00:39:55,230 has several fantastic scenes where they explain as if to 592 00:39:55,230 --> 00:39:59,230 a child how commodity markets work and, um, 593 00:39:59,890 --> 00:40:04,630 the, the World Trade Center, or this was after the World Trade Center, 594 00:40:04,910 --> 00:40:09,870 actually the after nine 11, the, the reconstructed building, um, 595 00:40:10,350 --> 00:40:12,910 actually did a, uh, 596 00:40:13,460 --> 00:40:18,120 like documentary short with Dan Akroyd, 597 00:40:18,470 --> 00:40:21,520 I think about 10 years ago, um, 598 00:40:22,550 --> 00:40:26,470 where they, they were talking about how things are done these days, 599 00:40:26,690 --> 00:40:28,310 and the fact that trading places 600 00:40:29,840 --> 00:40:33,230 it couldn't happen in the same way because the pits are gone. 601 00:40:33,230 --> 00:40:34,270 It's all computers now, 602 00:40:34,450 --> 00:40:38,190 but the actual mechanisms of trade haven't changed at all. 603 00:40:38,190 --> 00:40:43,040 We're just using computers to do the trades at a a 604 00:40:43,040 --> 00:40:45,600 million times greater speed, uh, 605 00:40:45,600 --> 00:40:48,360 than than we used to do when we were shouting at each other. 606 00:40:48,870 --> 00:40:53,360 That is actually a, a, a great movie. I just watched Trading Places, uh, 607 00:40:53,360 --> 00:40:57,560 this past year, uh, founded on a streaming service, so I know it's out there. 608 00:40:58,170 --> 00:41:01,960 Um, and it does really give some good insight into, 609 00:41:02,310 --> 00:41:05,600 into the Commod commodities market. Hey, uh, 610 00:41:05,600 --> 00:41:07,840 my guest today has been Noah Healy, 611 00:41:08,030 --> 00:41:12,520 a professional algorithm developer and recreational mathematician. 612 00:41:12,870 --> 00:41:16,560 Noah, we have about 30 seconds left. Final thoughts for the day? 613 00:41:18,570 --> 00:41:22,210 Um, I, 614 00:41:22,240 --> 00:41:27,130 I I outta words, uh, happy New Year, everybody. Uh, 615 00:41:27,350 --> 00:41:29,410 and, um, you know, let's, 616 00:41:29,530 --> 00:41:34,400 let's hope we can start fixing up these systems that computers are breaking 617 00:41:34,400 --> 00:41:36,160 down, uh, in the new Year. 618 00:41:36,690 --> 00:41:39,780 Yeah. And that's gonna become even more important I think, 619 00:41:39,830 --> 00:41:44,460 as we move forward and as technology continues to play an even greater 620 00:41:44,570 --> 00:41:48,700 role in our daily lives. Noah, thank you so much for being with me today. 621 00:41:48,870 --> 00:41:50,180 It has been, uh, a. 622 00:41:50,260 --> 00:41:52,500 Pleasure. This has been commonalities, 623 00:41:52,810 --> 00:41:57,060 a show where guests find common ground through uncommon conversations. 624 00:41:57,140 --> 00:41:59,900 Copyright 2022, coordinated 360, 625 00:42:00,120 --> 00:42:03,660 all public rebroadcast should be done with prior written approval from Matthew 626 00:42:03,660 --> 00:42:08,460 Dowling. All requests should be sent to info@coordinatedthreesixty.com. 627 00:42:08,460 --> 00:42:10,780 Thank you for listening to commonalities. 628 00:42:17,060 --> 00:42:19,940 Hello Uniontown Mayor, bill Gerkey here. 629 00:42:20,190 --> 00:42:24,100 There's nothing quite like the feeling of home, that sense of belonging, 630 00:42:24,220 --> 00:42:28,260 those fall Friday nights under the lights, those winter nights in the gym, 631 00:42:28,540 --> 00:42:32,740 watching our red Raiders, those refreshing spring afternoons at Bailey Park, 632 00:42:32,910 --> 00:42:35,740 rooting on our Red Raider, softball and baseball teams. 633 00:42:36,730 --> 00:42:40,580 I am grateful for those memories and hope our community's children and 634 00:42:40,580 --> 00:42:43,980 grandchildren can enjoy those memories too. But to do that, 635 00:42:43,980 --> 00:42:48,060 we have to plan for the future. During my first term in office, 636 00:42:48,060 --> 00:42:51,380 the city has got Bailey Park back to a place where we can be proud of. 637 00:42:52,180 --> 00:42:55,700 Begun our city's first comprehensive plan in over 20 years. 638 00:42:56,430 --> 00:42:59,460 Started work on the city's section of the Sheep Skin Trail, 639 00:43:00,170 --> 00:43:04,340 worked on eliminating blighted properties and are rebuilding the city's 640 00:43:04,340 --> 00:43:08,220 neighborhoods. We've updated the faulty equipment in the parking garages, 641 00:43:08,320 --> 00:43:11,860 and we're bringing a more competitive, reliable, faster, 642 00:43:11,860 --> 00:43:15,140 and less expensive internet service to our city residents. 643 00:43:16,150 --> 00:43:20,740 We have done a lot, but there's still more to do. So I Bill Gerkey. 644 00:43:20,740 --> 00:43:25,580 I'm running for a second term. We're Uniontown proud. We're Uniontown strong, 645 00:43:25,960 --> 00:43:30,620 and together we can continue to rebuild Uniontown for the next generation. 646 00:43:32,730 --> 00:43:34,260 Paid for by Mayor Bill.
18Jan, 2023
