Peter Diamandis is throwing money at the world's biggest problems.
Peter Diamandis is throwing money at the world's biggest problems.If we locked the geniuses of the world in a room filled with computers and Red Bull, all of mankind's problems might eventually be solved. Global warming, AIDS, the inexplicable need for a Hummer h2-these are what Peter Diamandis calls the "grand challenges of our time." Solutions, he says, are out there.Barring that dream scenario, Diamandis, 45, founder of the L.A.-based X Prize Foundation, advocates another way: offer the geniuses a lot of money. He has created a new punk-capitalist ethos by using cash-prize competitions to foment scientific innovation, free from the constraints of lawyers, lobbyists, and CEOs. "We're living in such a risk-averse society that it's killing us," says Diamandis, a graduate of both MIT and Harvard Medical School.
|We're living in such a risk-averse society that it's killing us.|