Jeff  Carter

Was scouring the internet today when I came upon this post and this post that got me cogitating.

I am not a programmer, or an engineer, but I have an appreciation for their skills. It always amazes me to see someone take an idea and put it into a product. They do this daily. There is as much art to writing great code as their is to a Monet at an art museum, it’s just that for neophytes like me it’s a lot harder to appreciate.

This is the part that got me thinking,

Second is the notion of a network of networks (hence Internet) or as it was initially known an “open-architecture network” that would connect networks that could be separately designed and maintained, recognizing that different approaches would be best for different settings (business versus military, radio transmission versus wire, etc). This idea was first put forth in the early 1970s by Bob Kahn. After setting out crucial core principles of “open-architecture” such as no global network control (i.e., a distributed system) and only requiring best effort (i.e., no guarantee of delivery), Kahn worked with Vint Cerf on coming up with a protocol. Their incredibly productive collaboration results in a first version of what became known as the Transmission Control Protocol (TCP) that allowed for reliable information transmission and still adhered to the core principles of an open architecture

The internet is open architecture. That core concept is the beauty of it. It is its own free market with supply and demand curves and a unique set of pricing. It’s transparent. Millions of engineers supplying coding combined with millions of businesses demanding certain types of code a certain way to make their businesses profitable. The internet is Coase on steroids.

Jeff Carter

Jeffrey Carter is an independent speculator. He has been trading since 1988. His blog site, Points and Figures was named by Minyanville as one of The 20 Most Influential Blogs in Financial Media.