Bob Metcalfe (right) may be one of my generation's most important innovators.
His concept of an "Ethernet" is at the heart of your local area network. Ethernet concepts are rolled all over the Internet, and most scaled Web hosts move their data around with it. There are now Ethernet standards running to 10 GBps.
Metcalfe created 3Com in 1980 to commercialize his concept, and while his performance was fine his board kicked him out 10 years later for Eric Benhamou. As with some of my firings, this was probably a blessing in disguise.
Metcalfe's mind is too big, and too wide-ranging, to be locked inside an office. He's a walk around, fly around kind of guy who can do anything. He spent the 1990s as a pundit and journalist, and has spent most of the last decade as a venture capitalist and eminence grise at UT-Austin. I keep hoping he'll "retire" to my alma mater, Rice University in Houston, where he can drive the world's energy giants deeper into the renewables space, but that's just my personal dream for him. At 64 he's still young enough to have dreams of his own.
Metcalfe is the first subject of our new feature, The 1971 Game. In past years I've spent time comparing figures of the present with those of the past, based on my belief that the crisis of our time is a reverse of what happened in the late 1960s. This made Barack Obama into a Bizarro Nixon. It also made figures of what became the Tea Party movement into Bizarro Hippies and Yippies. All this was fun, but in the end it doesn't really explain what was behind the change.
What my research began to reveal last year is that even the changes of the 1960s, which seemed entirely social and political, were in fact economic. And that this pattern of political change driven by economics has in fact repeated itself, time-after-time in our political history.
What makes America great is that it's a business culture. We are not ideological people. We do what works. But what aging, fading industries learned long ago is that they could hang on to economic power by capturing the political process. This is what southern planters did in the 1850s, what railroad barons did in the 1890s, what utility producers did in the 1920s, what manufacturers were actually doing in the 1960s. (What's good for Gemeral Motors is good for the USA.)
Since you can't win an election by running against economic progress, fading industries have spent immense sums creating a host of ancillary issues, associating themselves with causes that appear far afield from what they're about, but whose political alliances magically end up supporting their economic aims.
Which brings us to the present day.
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