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And retirees who don’t adapt to this new era of technology right away… [TheEmpireTrading]( [Divider] Biography of Bill Gates Bill GatesWilliam Henry Gates was born on 28 October 1955, in Seattle, Washington. As the principal founder of Microsoft, Bill Gates is one of the most influential and richest people on the planet. Recent estimates of his wealth put it at US$84.2 billion (Jan. 2017); this is the equivalent of the combined GDP of several African economies. In recent years he has retired from working full time at Microsoft, and has instead concentrated on working with his charitable foundation “The Bill and Melinda Gates Foundation.” Early life of Bill Gates His father William Gates Sr was a senior lawyer, and his mother, Mary, served as an executive for a major bank. The family were wealthy but, remembering the challenges of the Great Depression, they encouraged their children to work hard and take nothing for granted. Aged 13, Gates attended the private Lakeside school. It was here that Gates had his first introduction to computers. He taught himself to programme in Basic, making a simple ‘Tic-Tac-Toe’ game. Gates enjoyed the process of working with computers and arranged with a company Computer Center Corporation (CCC) to spend time on their computers – learning source code, such as Fortran, Machine Code and Lisp. In 1973, Gates enrolled at Harvard, where he studied mathematics and computer science. However, Gates was more interested in pursuing his own coding, and when he saw an opportunity to found his own company, he dropped out of Harvard without finishing his course. Bill Gates foundation of Microsoft 330px-Altair_8800 Altair 8800 computer Bill Gates founded Microsoft in 1976 when he formed a contract with MITS (Micro Instrumentation and Telemetry Systems) to develop a basic operating system for their new microcomputers. In the early days, Bill Gates would review every line of code. He was also involved in several aspects of Microsoft’s business such as packing and sending off orders. 1981-Bill-Paul Bill Gates and Paul Allen in 1981 The big break for Microsoft came in 1980 when IBM approached them for a new BASIC operating system for its new computers. In the early 1980s, IBM was by far the leading PC manufacturer. However, increasingly, there developed many IBM PC clones; (PCs produced by other companies compatible with IBM’s). Microsoft worked hard to sell its operating system to these other companies. Thus Microsoft was able to gain the dominant position of software manufacture just as the personal computer market started to boom. Since its early dominance, other companies have struggled to displace Microsoft as the dominant provider of computer operating software. Programs like Microsoft Word and Excel have become the industry standard. Bill Gates – Windows Windows-95In 1990 Microsoft released its first version of Windows. This was a breakthrough in operating software as it replaced text interfaces with graphical interfaces. It soon became a best seller and was able to capture the majority of the operating system market share. In 1995 Windows 95 was released, setting new standards and features for operating systems. This version of Windows has been the backbone of all future releases from Windows 2000 to the latest XP and Vista. Throughout his time in office, Bill Gates has been keen to diversify the business of Microsoft. For example, Microsoft’s Internet Explorer became the dominant web browser, although this was primarily because it came pre-installed on most new computers. In recent years, Internet Explorer has seen its market share slip. One area where Microsoft has never been successful is in the area of search engines. MSN live search has struggled to gain more than 5% of market share. In this respect, Microsoft has been dwarfed by Google. Nevertheless, the success of Microsoft in cornering various aspects of the software market has led to several anti-trust cases. In 1998 US v Microsoft, Microsoft came close to being broken up into three smaller firms. However, on appeal, Microsoft was able to survive as a single firm. Although Microsoft was the dominant computer firm of the 1980s, and 1990s, they are now seen as an ageing and declining company – compared to the more dynamic Google and Apple. Philanthropic Activities – Bill Gates Bill_og_Melinda_GatesBill Gates is married to Melinda French (married in 1992). They have three children Jennifer (1996), Rory (1999) and Phoebe (2002). With his wife, Bill Gates formed the Bill & Melinda Gates Foundation. Bill Gates says much of the inspiration came from the example of David Rockefeller. Like Rockefeller, Gates has sought to focus on global issues ignored by the government; he also expressed an interest in improving the standards of public school education in the US. He has appeared with Oprah Winfrey to promote this objective. In respect to charitable, philanthropic activities Gates has also received encouragement from investor Warren Buffet, who has given away $17 billion, through the Gates Foundation. Gates has also sought to prioritise issues that improve the health of the population rather than ‘vanity projects’. Speaking at a TED conference in 2009, he said about malaria. “This leads to the paradox, that because the disease (malaria) is only in the poor countries, there is not much investment. For example, there is more money put into baldness drugs, than are put into malaria. Now, baldness, it is a terrible thing [audience laughter] and rich men are afflicted, so that is why that priority is set.” From 2008 Gates has worked full time on his philanthropic interests. It is estimated Gates and his wife Melinda have given away $28 billion via their charitable foundation – including $8 billion to improve global health. Gates has said that he has no use for money, and will only leave a small percentage of his wealth to his children. In an interview with the Daily Telegraph, Gates states: “I’m certainly well taken care of in terms of food and clothes,” he says, redundantly. “Money has no utility to me beyond a certain point. Its utility is entirely in building an organisation and getting the resources out to the poorest in the world.” (1) His main areas of interest in philanthropy have been improving health, and in particular helping to reduce diseases, such as polio which affect young children. He has also given more focus on environmental issues. In 2015, he gave $1 billion to a clean energy project, as he sees supporting new ‘greener’ technologies as a way to help deal with global warming. Asked about the motivation of his giving, Gates replies: “It doesn’t relate to any particular religion; it’s about human dignity and equality,” he says. “The golden rule that all lives have equal value and we should treat people as we would like to be treated.” – Gates Covid-19 Bill Gates has often warned about the potential dangers of a global pandemic. In 2015, Gates gave a warning that the world is not ready for the next pandemic, which could lead to the deaths of millions of people. When COVID-19 became a threat to global health, Gates devoted time and money to co-ordinating efforts to provide a global vaccine. He spent millions of pounds in getting ready to mass-produce one of the many potential vaccinations. “Humankind has never had a more urgent task than creating broad immunity for coronavirus. It’s going to require a global cooperative effort like the world has never seen. But I know we’ll get it done. There’s simply no alternative.” – Bill Gates, Twitter, 30 April 2020 He criticised the response of the US administration under Trump for being behind the curve and allowing the virus to spread, in particularly he criticised Trump’s decision to stop funding for WHO, in the middle of the pandemic. Religion of Bill Gates Bill Gates is not overtly religion and has not specifically stated he follows a particular belief system. He has expressed the view that he approaches life from a scientific point of view, though he has participated in services of the Catholic Church (which is wife attends). Also, when asked whether he believed in God, Gates replied. “The moral systems of religion, I think, are superimportant. We’ve raised our kids in a religious way; they’ve gone to the Catholic church that Melinda goes to and I participate in. I’ve been very lucky, and therefore I owe it to try and reduce the inequity in the world. And that’s kind of a religious belief. I mean, it’s at least a moral belief.” – March 27, 2014. “I think it makes sense to believe in God, but exactly what decision in your life you make differently because of it, I don’t know.” Elon Musk calls [this new megatrend]( “one of the biggest threats to humankind.” Thanks to the rise of this emerging technology, doctors are at risk of losing their jobs. Lawyers are becoming obsolete. An undergraduate college kid can now replace entire coding departments [thanks to this new tech]( And retirees who don’t adapt to this new era of technology right away… They may fall behind for good… MIT says this new but terrifying era of technology will amplify wealth inequality to an extreme degree… Luckily, one former Wall Street Insider just revealed the [only real way]( for everyday Americans to get ahead of this new megatrend — now — before they are left behind for good. John M. Keynes Biography John M. Keynes (5 June 1883 – 21 April 1946) was one of the most influential economists of the Twentieth Century. His groundbreaking work in the 1930s led to the development of a whole new economic discipline dedicated to macroeconomics. His economic theories, which became known as ‘Keynesianism’ advocated government intervention to end the Great Depression. keynesJohn M. Keynes was born in Cambridge to an upper-middle-class family. His father was a lecturer in economics and moral sciences at Cambridge University. He was a bright scholar who won a scholarship to Eton College. After Eton, he studied Maths at Kings College, Cambridge. At Cambridge, the great economist Alfred Marshall encouraged Keynes to take up the relatively new science of Economics. Keynes published his first economic article in 1909, and by 1911 was editor of the Economic Journal. During the First World War, Keynes acted as a government advisor for the government. He helped to negotiate terms with Britain’s creditors (UK debt rose sharply in World War One). At the end of the First World War, Keynes took part in the British delegation to the Treaty of Versailles. Keynes was shocked at the level of reparations the Allies wanted to impose on the Germans. Keynes resigned from the British delegation saying it was a recipe for bankrupting Germany. He wrote the Economic Consequences of the Peace in 1919, accurately predicting the difficulties Germany would have and the consequent political resentment at such as harsh peace treaty. “If we aim deliberately at the impoverishment of Central Europe, vengeance, I dare predict, will not limp.” The Economic Consequences of the Peace (1919) Chapter VII, Section 1, pg.268 John M. KeynesIn the 1920s, Keynes wrote a powerful critique of Britain’s decision to return to the Gold Standard at a pre-1914 level. Keynes argued that the artificially high value of sterling would make life difficult for British exporters. The decision to return to the Gold Standard in 1925 was widely blamed for the prolonged deflation and high unemployment the UK experienced in the 1920s. The Chancellor of the Exchequer, Winston Churchill, who was responsible for the decision admitted it was the biggest domestic mistake of his career. Keynes and the Great Depression It was the Great Depression of 1929-39, which gave Keynes the opportunity to disparage and challenge the classical orthodoxy which dominated economic theory at the time. At the outbreak of the Great Depression, the classical response was to rely on free markets and balance the budget – through tax increases and cutting government spending. In 1931, Keynes was particularly critical of Ramsay McDonald’s austerity budget which cut public investment, wages and increased taxes. Keynes argued that the government should be doing the opposite. Throughout the 1930s, Keynes was a consistent voice for advocating higher government spending funded through higher borrowing. However, in most democracies, it proved a lone voice – apart from intermittent spending as part of Roosevelt’s New Deal. The basic principle of Keynes’ work was that in a recession, there were wasted resources due to higher private savings and falling private sector investment and spending. Therefore, the government should intervene. The government should borrow from the surplus savings of the private sector and help unemployed resources, lying idle, to become used. See more at explanation of Keynesian economics Keynes was also a great publicist for his own views, with a knack for attracting attention. For example, when he saw a waiter with nothing to do, he knocked some serviettes on to the floor. He explained to his bemused friends he was trying to prevent unemployment by creating work. In his General Theory, he used the analogy of digging holes in the ground to explain concepts of aggregate demand. “To dig holes in the ground“, paid for out of savings, will increase, not only employment, but the real national dividend of useful goods and services. It is not reasonable, however, that a sensible community should be content to remain dependent on such fortuitous and often wasteful mitigations when once we understand the influences upon which effective demand depends.” – J.M. Keynes, The General Theory Of Employment, Interest, And Money Ch 4. His work created some notable soundbites – he popularised the idea of the paradox of thrift (individual saving causes aggregate spending to fall). He also coined the phrase ‘in the long run we are all dead’. “The long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is past the ocean is flat again.” – J.M. Keynes, A Tract on Monetary Reform (1923) Ch. 3. This phrase was an ironic criticism of classical theory, which argued markets would eventually return to equilibrium ‘in the long run.’ His groundbreaking work – The General Theory of Employment, Interest and Money (1936) provided a framework for macroeconomics and was a radical departure from the more limited classical framework. After the war, to varying degrees, governments in the West pursued Keynesian demand management in an attempt to achieve full employment. This led the US president R. Nixon to declare in the 1960s – “we’re all Keynesians now.” In the 1970s, the reputation of Keynes’ work was challenged by the stagflation of the decade and the response of neo-classical economists and monetarists, such as Milton Friedman. But, the great recession of 2008-2013, led to a resurgence of interest in Keynes’ explanation for prolonged recessions. In 1940, his health suffered, and he had to cut back on his workload. However, after the Second World War, he was asked to take part in the British negotiations with America over debt repayments. It was Keynes’ job to emphasise to the Americans how bankrupt the UK was. The American delegation who met Keynes was deeply impressed by his intellect and passion. Though they couldn’t meet his demands until Congress became worried about the spread of Communism in Europe, and agreed to extend the terms of credit. Outside economics, Keynes was a lover of the arts, opera and noted for his exceptional wit. He was a formidable intellect and even critics admitted he had both great intellect and powers of persuasion. “Every time I argued with Keynes, I felt that I took my life in my hands and I seldom emerged without feeling something of a fool.” – Bertrand Russell Austrian economist Friedrich Hayek who came up with an economic theory (Austrian economics), very different to Keynes, wrote: “He was the one really great man I ever knew, and for whom I had unbounded admiration. The world will be a very much poorer place without him.” Another quality of Keynes was his optimism and belief in finding a solution. While many despaired at the social and economic cost of the Great Depression, to Keynes he saw a way out – it need not be like this. He used his knowledge of economics to make a fortune on the stock market; though, in 1929, he failed to predict the stock market crash and lost a fortune. However, in the 1930s, he saw his financial investments make a good return, as he made a number of astute investments. He was a member of the Bloomsbury Group, a fashionable society of Cambridge graduates, who also included Virginia Woolf and E.M.Forster Keynes married the ballerina Lydia Lopokova but had a number of affairs with both women and men. He tragically died from a heart attack in 1946, just as he was helping to implement the post-war economic settlement and set up the Bretton-Woods system. Citation: Pettinger, Tejvan. “Biography of John M Keynes”, Oxford, www.biographyonline.net Published 3 Feb. 2013. Last updated 9 February 2018. Influence of John M Keynes Provided dissenting voice at Treaty of Versailles about the harshness of the peace treaty. Later, many in Britain felt guilt at the terms of Treaty, which justified appeasement. Opposition to Gold Standard. In 1931 Britain finally left Gold Standard, which Keynes had criticised for a long time. Giving a sense of hope in Great Depression. As Bertrand Russell says in his autobiography: “There are still many people in America who regard depressions as acts of God. I think Keynes proved that the responsibility for these occurrences does not rest with Providence.” A sustained attack on orthodox ‘classical economics’. In the 1930s, the UK and US governments didn’t really listen to Keynes, but he did change the study of economics, creating a seismic shift in the subject – which would later incorporate Keynesian ideas into textbooks and economic theory. Joan Robinson said: “The consequences of Mr. Keynes’s attack upon orthodoxy are very far reaching. First, it cuts the ground from under the pretended justification of inequality, and allows us to see the monstrous absurdity of our social system with a fresh eye.” Keynes is credited with the creation of the branch of macro-economics – which up until that point economics was only concerned with micro-economics. Keynes helped negotiated credit terms with the US after the war. In 1965, Time Magazine led with a story, quoting Milton Friedman ‘We’re all Keynesians now’ A pacifist for much of his life, in 1936, he argued Britain should rearm in face of the Nazi threat. Without his solution by your side, you don’t stand a chance in this new frontier. So before you miss out entirely… [Click here now to see how his breakthrough technology works…]( And how it can transform your retirement starting today. Keith Kaplan CEO, TradeSmith Steve Jobs Biography steve-jobsSteve Jobs (Feb 24, 1955 – October 5, 2011) was an American businessman and inventor who played a key role in the success of Apple computers and the development of revolutionary new technology such as the iPod, iPad and MacBook. Early Life Steve Jobs was born in San Francisco, 1955, to two university students Joanne Schieble and Syrian-born John Jandali. They were both unmarried at the time, and Steven was given up for adoption. Steven was adopted by Paul and Clara Jobs, whom he always considered to be his real parents. Steven’s father, Paul, encouraged him to experiment with electronics in their garage. This led to a lifelong interest in electronics and design. Jobs attended a local school in California and later enrolled at Reed College, Portland, Oregon. His education was characterised by excellent test results and potential. But, he struggled with formal education and his teachers reported he was a handful to teach. At Reed College, he attended a calligraphy course which fascinated him. He later said this course was instrumental in Apple’s multiple typefaces and proportionally spaced fonts. Steve Jobs in India In 1974, Jobs travelled with Daniel Kottke to India in search of spiritual enlightenment. They travelled to the Ashram of Neem Karoli Baba in Kainchi. During his several months in India, he became aware of Buddhist and Eastern spiritual philosophy. At this time, he also experimented with psychedelic drugs; he later commented that these counter-culture experiences were instrumental in giving him a wider perspective on life and business. “Bill Gates‘d be a broader guy if he had dropped acid once or gone off to an ashram when he was younger.” – Steve Jobs, The New York Times, Creating Jobs, 1997 Job’s first real computer job came working for Atari computers. During his time at Atari, Jobs came to know Steve Wozniak well. Jobs greatly admired this computer technician, whom he had first met in 1971. Steve Jobs and Apple In 1976, Wozniak invented the first Apple I computer. Jobs, Wozniak and Ronald Wayne then set up Apple computers. In the very beginning, Apple computers were sold from Jobs parents’ garage. Over the next few years, Apple computers expanded rapidly as the market for home computers began to become increasingly significant. In 1984, Jobs designed the first Macintosh. It was the first commercially successful home computer to use a graphical user interface (based on Xerox Parc’s mouse driver interface.) This was an important milestone in home computing and the principle has become key in later home computers. Despite the many innovative successes of Jobs at Apple, there was increased friction between Jobs and other workers at Apple. In 1985, removed from his managerial duties, Jobs resigned and left Apple. He later looked back on this incident and said that getting fired from Apple was one of the best things that happened to him – it helped him regain a sense of innovation and freedom, he couldn’t find work in a large company. Life After Apple Steve_Jobs_and_Bill_Gates_(522695099) Steve Jobs and Bill Gates. Photo Joi Ito On leaving Apple, Jobs founded NeXT computers. This was never particularly successful, failing to gain mass sales. However, in the 1990s, NeXT software was used as a framework in WebObjects used in Apple Store and iTunes store. In 1996, Apple bought NeXT for $429 million. Much more successful was Job’s foray into Pixar – a computer graphic film production company. Disney contracted Pixar to create films such as Toy Story, A Bug’s Life and Finding Nemo. These animation movies were highly successful and profitable – giving Jobs respect and success. In 1996, the purchase of NeXT brought Jobs back to Apple. He was given the post of chief executive. At the time, Apple had fallen way behind rivals such as Microsoft, and Apple was struggling to even make a profit. Return to Apple Steve_Jobs_with_the_Apple_iPad_no_logo Photo: Matt Buchanan Jobs launched Apple in a new direction. With a certain degree of ruthlessness, some projects were summarily ended. Instead, Jobs promoted the development of a new wave of products which focused on accessibility, appealing design and innovate features. The iPod was a revolutionary product in that it built on existing portable music devices and set the standard for portable digital music. In 2008, iTunes became the second biggest music retailer in the US, with over six billion song downloads and over 200 million iPods sold. In 2007, Apple successfully entered the mobile phone market, with the iPhone. This used features of the iPod to offer a multi-functional and touchscreen device to become one of the best-selling electronic products. In 2010, he introduced the iPad – a revolutionary new style of tablet computers. The design philosophy of Steve Jobs was to start with a fresh slate and imagine a new product that people would want to use. This contrasted with the alternative approach of trying to adapt current models to consumer feedback and focus groups. Job’s explains his philosophy of innovative design. “But in the end, for something this complicated, it’s really hard to design products by focus groups. A lot of times, people don’t know what they want until you show it to them.” – Steve Jobs, BusinessWeek (25 May 1998) Apple has been rated No.1 in America’s most admired companies. Jobs management has been described as inspirational, although c-workers also state, Jobs could be a hard taskmaster and was temperamental. NeXT Cofounder Dan’l Lewin was quoted in Fortune as saying of that period, “The highs were unbelievable … But the lows were unimaginable.” “My job is not to be easy on people. My jobs is to take these great people we have and to push them and make them even better.” – All About Steve Jobs [link] Under Jobs, Apple managed to overtake Microsoft regarding share capitalization. Apple also gained a pre-eminent reputation for the development and introduction of groundbreaking technology. Interview in 2007, Jobs said: “There’s an old Wayne Gretzky quote that I love. ‘I skate to where the puck is going to be, not where it has been.’ And we’ve always tried to do that at Apple. Since the very very beginning. And we always will.” Despite, growing ill-health, Jobs continued working at Apple until August 2011, when he resigned. Wealth “I was worth over $1,000,000 when I was 23, and over $10,000,000 when I was 24, and over $100,000,000 when I was 25, and it wasn’t that important because I never did it for the money.” – Steve Jobs Jobs earned only $1million as CEO of Apple. But, share options from Apple and Disney gave him an estimated fortune of $8.3billion. Personal life In 1991, he married Laurene Powell, together they had three children and lived in Palo Alto, California. In 2003, he was diagnosed with Pancreatic Cancer. Over the next few years, Jobs struggled with health issues and was often forced to delegate the running of Apple to Tim Cook. In 2009, he underwent a liver transplant, but two years later serious health problems returned. He worked intermittently at Apple until August 2011, where he finally retired to concentrate on his deteriorating health. He died as a result of complications from his pancreatic cancer, suffering cardiac arrest on 5 October 2011 in Palo Alto, California. In addition to his earlier interest in Eastern religions, Jobs expressed sentiments of agnosticism. “Sometimes I believe in God, sometimes I don’t. I think it’s 50-50 maybe. But ever since I’ve had cancer, I’ve been thinking about it more. And I find myself believing a bit more. I kind of – maybe it’s ’cause I want to believe in an afterlife. That when you die, it doesn’t just all disappear.” Quote in Biography by Walter Isaacson. Steve Jobs is buried in an unmarked grave at Alta Mesa Memorial Park, a nonsectarian cemetery in Palo Alto.   At The Emрire Тrading, we keep an eye out for favorable circumstances we believe will interest our readers. The following is one such message from one of our colleagues I think you’ll appreciate. 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