“Time. Context. Perspective. All are aspects of the way we value something—or better, the way an individual values something. Value is subjective; our perspectives are inward, intimate, and individualized. When we forget that, we open the door to theoretical missteps that tread not only upon our own economic theories, but also upon on our freedom.”

– Max Borders

Inference is the extraction of new information from information already available. While reasoning is the process of pursuing this goal by attending to reasons. Humans, cannot spend a minute of their waking life without making inferences. On the other hand, they can spend hours or even days without ever engaging in reasoning.”

– Hugo Mercier & Dan Sperber 

Packetization is the ability to digitize something — an activity, a process, a product, or a service — that was previously not digitized. Anything that can be digitized can be broken into Internet data packets and transported quite literally at the speed of light and at near zero cost across large distances. A digitized packet can be sent at nearly zero cost to someone a thousand miles away to work with, and then be sent back after processing all within fractions of a second. Digitization of music, books, and software is old news. The more interesting trends in digitization are in business activities that were previously thought of as being location-dependent and localized.”

– Amrit Tiwana