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Life Below Ground – at 250 Degrees!

By   Shlomo Maital

 A lot of money is being spent looking for life on Mars.

   What about looking for life on Earth – in unexplored places. It’s called “deep life”.

   A fascinating report by AFP, a global news agency, informs us:

   “Scientists have drilled a mile and a half (2.5 kilometers) beneath the seabed and found vast underground forests of “deep life,” including microbes that persist for thousands, maybe millions of years, researchers said Monday.   Feeding on nothing but the energy from rocks, and existing in a slow-motion, even zombie-like state, previously unknown forms of life are abundant beneath the Earth despite extreme temperatures and pressure.   About 70 percent of Earth’s bacteria and archaea — single-celled organisms with no nucleus — live underground, according to the latest findings of an international collaboration involving hundreds of experts, known as the Deep Carbon Observatory, were released at the American Geophysical Union meeting in Washington.   This “deep life” amounts to between 15 and 23 billion tons of carbon, said the DCO, launched in 2009, as it nears the end of its 10-year mission to reveal Earth’s inner secrets.   The deep biosphere of Earth is massive,” said Rick Colwell, who teaches astrobiology and oceanography at Oregon State University.

   A Japanese scientist who led the study said the following:

   “Most of deep life is very distinct from life on the surface,” said Fumio Inagaki, of the Japan Agency for Marine-Earth Science and Technology.   Using the Japanese scientific vessel Chikyu, researchers have drilled far beneath the seabed and removed cores that have given scientists a detailed look at deep life.   “The microbes are just sitting there and live for very, very long periods of time,” he told AFP. He described the team’s findings so far as a “very exciting, extreme ecosystem.” Among them may be Earth’s hottest living creature, Geogemma barossii, a single-celled organism found in hydrothermal vents on the seafloor. Its microscopic cells grow and replicate at 250 degrees Fahrenheit (121 Celsius). [This is well above the boiling point of water!]  “There is genetic diversity of life below the surface that is at least equal to but perhaps exceeds that which is at the surface and we don’t know much about it,” Colwell said.    

       Brought up from these ancient coal beds and fed glucose in the lab, researchers have seen some microbes, bacteria and fungi slowly waking up. “That was amazing,” said Inagaki.   Scientists have found life in continental mines and boreholes more than three miles (five kilometers) deep, and have not yet identified the boundary where life no longer exists, he added.

           These microbes way underground are important, because they have captured huge amounts of carbon, leaving the oxygen we humans breathe.

           And perhaps they hold the key to removing the carbon spewed into the atmosphere from burning fossil fuels, causing climate change and global warming.

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Direct Listing: Disintermediation Lives!

Or: Here, Spot!

by Shlomo Maital

 

   Ernest Hemingway hated big pretentious words, called them “two dollar” words, and preferred two-bit words in his writing. And it was very effective.

   I agree. Except for this one exception.   Disintermediation.   17 letters!   It means, removing mediation, go-betweens.   Go-betweens clip coupons, take a slice of the money – a big slice – and run. Israeli farmers get 3 shekels a kilo for avocado, retailers sell them for 18 shekels a kilo. Guess why!?

     The Internet is the great disintermediator. It can link people who need rides with those who can offer them.  Or people who want to buy anything with those who want to sell anything – directly.   Without anybody in between.

     Here is the latest example of disintermediation – but not via the Internet.

     Spotify is a music streaming platform, developed by Swedes, and launched in 2008. It is available widely, has $5 b. in revenue, employs 2,960, has raised $1 b. in venture capital, and has 157 million monthly users. Five out of 8 regular users are young, between 18 and 34.

     Its market cap is $29.5 billion.

     Spotify thinks different(ly). On Feb. 28 2018 Spotify (NYSE symbol SPOT) shares were listed on the New York Stock Exchange. But NOT, not as an Initial Public Offering. Rather, as a DPL Direct Public Listing.

     What’s the difference?

     IPO is a sale of new shares, by a company, on the stock exchange, to raise capital.

     DPL is simply a listing of existing shares, no new ones, not with any intention of raising capital, but simply making shares ‘liquid’ and enabling those who wish to sell ‘existing’ shares on the stock market.   There are no intermediaries, investment banks, underwriters, banks, nobody to clip coupons. Direct from SPOT to you.   Here, Spot! Good boy!   Sit.

     The NYSE stock exchange has far less stringent requirements for DPL than for IPO. DPL is mainly designed for smaller businesses.   But SPOT saw the opportunity. Spotify does not need more capital (it can raise all it wants, at any time). It would like to be listed, and permit those who want to cash out (after a whole decade!) partly, to be able to do so. Hence, DPL.

     DPL is disintermediated. And the trend may catch on. This could be a disruptive technology for Wall Street. Ever since Netscape did its IPO in 1995 and saw its shares soar by ten times, Wall St. has cashed in on IPO’s. The resulting bubble led directly to the 2000-2001 crash that did much damage. DPL does not have the same ‘bubble’ potential – because it simply lists existing shares, without any increase in their supply.

   Of course, those existing share prices could crash too – but somehow it is less likely for a balloon to burst when no air is added (i.e. no more new shares), than when you have a whole bunch of greedy enthusiasts pumping more and more air into it.

     So, Hemingway – OK to say, disintermediation? Or, if you insist:   Dis   …. Inter …… Mediation.

Here, Spot(ify)  !  Sit!  Lie Down!  Good Boy!   List.  Direct.  Well done! 

Blog entries written by Prof. Shlomo Maital

Shlomo Maital
December 2018
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