Start Small and Test Thoroughly

This morning I attended a training meeting from one of our vendors where they talked about a number of their product offerings. They highlighted the various tools available and when you would use one versus another. As I listened to the different options, I realized that a small proof-of-concept implementation is really the best way to gain experience with the various tools.

There are a number of recent examples where engineers didn't understand the technology decisions they made and failed miserably. The big one that comes to my mind is the original healthcare.gov website. On the first day it immediately crashed because of all the traffic. Comedians and late-night-talk-show hosts used it as joke material for a long time claiming they should have hired porn-site developers who know how to create high-traffic websites. Another service that had issues when it started is Disney+. Fortunately they had a much easier time scaling up to meet customer demand.

Starting small and testing thoroughly is not reserved for building computer systems. It is a principle I use in my own investing. Lately I have been looking at buying dividend stocks that pay periodic cash simply for owning it. While most companies pay quarterly dividends, there are some that pay monthly. That sounds pretty good doesn't it? Well you do have to be careful. I found one stock that is paying the equivalent of 25% annually. Instead of dumping a lot of money into it, I bought a few shares and watched it carefully. Yes, I received my monthly dividend but the price of the stock dropped more than the dividend paid. It dropped so much, the company did a reverse 5 to 1 split. That means instead of owning 10 shares of the stock, I now only own 2. Furthermore, the stock continues to fall. This is why I am glad I didn't dump thousands of dollars into it.

I have had some success with other dividend stocks and that is because I have started small. If I see one performing well, I reinvest in that same stock when I receive the periodic dividend. I am using now to learn what strategies work and not listen to over-hyped ones that don't. My hope is that I'll have it figured out when it comes time to retire and my income is based on my investments.

Non-Fungible Tokens or NFTs

One of the side-effects of looking for a new job is the chance to review a number of new technologies as I look into positions at other companies. Recently I interviewed with a company doing non-fungible tokens or NFTs. Before my interview I researched them and even thought about creating one. I reviewed the process but never created an NFT as I didn't feel it would be worth it for me. At least not yet.

So what is an NFT? It is a unique digital file. The file can be something like a picture, movie, or audio file. Having a unique file can be counter intuitive. One of the benefits of digital files is that they can be exact copies of the original. So how do you make a digital file unique? Using blockchain technology that adds a wrapper around the file so only the proper owner can access it.

There are a number of reasons to create a unique digital file. The most common use right now is for artists to create a picture they can sell for a higher price because it is unique and nobody else can own a copy of that digital file. Sometimes artists like to do a limited run of numbered reprints and that is also possible with NFTs. Of course this means the artist cannot charge as much as the file is no longer unique.

Video games would be a great place for NFTs as you could dress your avatar uniquely and be guaranteed that nobody else will have that outfit. That is one of the reasons my resume looked good to the company I interviewed with as I have a lot of years of video game experience. The company is doing things related to enhanced experiences for entertainment. As the world has gone virtual, they are creating something similar to a backstage pass with extra content for online events. Imagine going to a concert and being able to interact with the singer or band members because you purchased an NFT. One reasons the NFT makes more sense than a special code is that codes can be easily shared where NFTs cannot. They can be resold but like a physical ticket, once the NFT is sold, the previous owner no longer has any claim to them.

NFTs are also not foolproof in the same way that art is not. When you go into a famous museum such as the Louvre in Paris, they ask you not to take any pictures. However if you brought your camera and covertly take a picture, then you can have a copy of a famous painting. There is nothing that prevents you from displaying your NFT on your computer screen and then taking a picture or screen capture of it. As with the picture taken in a museum, it will not be an exact replica of the original piece but it has the potential to be close.

Creating an NFT is a fairly straightforward process that requires you to set up a digital wallet where you can store it. It also requires you to pay some money for some entity to help verify or certify your NFT. You have the ability to specify how much you will spend for the service but not paying enough will mean a longer wait time before someone feels it is worth their computer's processing time to provide the NFT. Had the process been free, I would have taken a picture with my phone and then turned it into an NFT. Once you have your NFT there are a number of marketplaces where you can sell it. How much you sell it for depends upon the same factors for a piece of art. Being famous helps increase the price. Probably more so than having a good piece of art.

I found it interesting to see how NFTs are currently being used and can see a number of really valid uses for them. That number will only continue to grow as they gain traction. I will be interested to see what direction NFTs take in the future. Right now their uses are only limited by our imagination.

The Problem with Working in Research and Development

One of the perks of my job is that I get to visit Tokyo around this time every year. While I have been to Tokyo more times than there are days in a month and so it has become a bit routine, I do enjoy one aspect of this trip: being able to see new technologies currently investigated by other research and development groups. The downside is that I can't talk about any of it. I take my confidentiality agreement very seriously and so I don't even tell my wife about the neat things I get to see.

Yesterday I did a lab tour and saw some very interesting research projects. As I viewed some of the projects, I thought how the technology can be applied and wanted to share the ideas with close friends and family. Unfortunately I can't say a thing. I can't even hint at what I have seen. Today will be more of the same, only on a larger scale. I have to admit that I am looking forward to it. I only wish I could share more.