This famous video (by Milton Friedman) illustrates the power and beauty of the free market system in promoting cooperation, efficiency, and harmony among people around the world using a simple pencil.

In Friedman's view, no individual on earth can make a pencil entirely by themselves. The wood is derived from a tree, perhaps located in Washington state. A saw is used to cut down the tree, which requires steel, which is derived from iron ore. The graphite core may originate from mines in South America. The eraser is made from rubber harvested from Malaysian trees. Brass ferrules and yellow paint have unknown origins. Thousands of people contribute to the manufacture of a pencil. It is remarkable that these people do not know each other and might even not like each other if they met. They may speak different languages and practice different religions. Yet they all cooperate and coordinate to produce pencils.

What is the mechanism that allows such a complex global collaboration to occur? As Friedman explains, it is a free market price system. Without any central planning authority, the pricing mechanism provides the information and incentives for people to work together productively.

By purchasing a pencil, you are effectively exchanging a small amount of your labour for the labour of thousands of other people, as facilitated by an impersonal price system. Friedman contends that the free market is essential for economic growth. In addition to promoting productivity efficiency by allocating resources intelligently, they also promote social harmony and peace among the world's diverse peoples.

Without central control, the free market allows people to cooperate and benefit from trading with one another. Friedman's simple story of the pencil serves as an effective metaphor for the incredibly complex global economy and how the free market coordinates production and trade in an unplanned, bottom-up manner for everyone's benefit.

The example illustrates Adam Smith's concept of the "invisible hand" and the interaction it facilitates between individuals and groups. The pencil illustrates how economic freedom leads to social harmony and cooperation.

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As we approach the summer travel season, I wanted to share some useful iOS travel apps I keep on my devices. 

Skiplagged (Free)

By finding "hidden city" fares, Skiplagged is a unique flight search engine that can uncover deeply discounted airfares. It searches for cheaper routes where the actual destination is a layover, allowing you to get off at the layover city rather than the final destination. It is a great way to score amazing flight deals!

Holafly (Free, in-app purchases)

With Holafly, you can stay connected while travelling abroad with affordable international eSIM data plans. Avoid costly roaming charges with unlimited data packages for over 160 countries. You can easily purchase, activate, and manage your eSIM plans using the app.

TripIt (Free)

TripIt makes it easy to keep track of all your travel plans and confirmation numbers in one place. When you forward your hotel, airline, car rental, and other confirmation emails to [email protected], the app automatically creates a master itinerary for your trip.

Viator (Free)

Viator is one of the most popular online marketplaces for booking tours and activities. With over 300,000 options worldwide, you can book everything from walking tours to extreme adventures. You can cancel your reservation up to 24 hours in advance. Additionally, you can access your tickets offline and receive directions to the meeting point for your tour through the app.

Globetips (Free)

Globetips covers over 200 cities around the world and provides tips and advice from locals and travellers. Find out what the best restaurants, attractions, nightlife, and more are at your destination. You can also share your tips.

Packr (Free, premium version)

You will never again forget something at home! Packr is an app that automatically creates packing lists for your trip based on variables such as destination, weather, activities, etc.

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A new reading method known as bionic reading is designed to help people read faster and with greater comprehension. A Swiss developer named Renato Casutt invented it in 2022.

As a result of bionic reading, your eyes are guided through the text by strategically bolding words to create "artificial fixation points." Casutt explains that your brain is more efficient at recognizing words when only parts of them are bolded, enabling you to read more efficiently while still comprehending the full context of the text. The bionic reading algorithm identifies and bolds the most "concise parts of words" - i.e. the first 2-4 letters.

Your eyes jump from bolded part to bolded part as your brain fills in the rest of each word. Doing so reduces the number of letters that need to be processed by your eyes. Currently, Bionic Reading is available as an iPhone/Android app, a Mac app, a Chrome extension, and a web-based text converter.

The bionic reading API can also be integrated into applications and software developed by developers. Some users with dyslexia and ADHD have reported that bionic reading improves their reading speed and comprehension.

At this early stage, no scientific studies have validated these claims. In a recent study conducted by the app Readwise, it was not found that bionic reading improved reading speed.

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TL;DR: Microsoft CoPilot, the new iOS app powered by AI, aims to transform technology interaction by providing a versatile chat assistant with free and premium options, integrated into popular Microsoft 365 apps, making it a valuable tool for businesses and individuals alike

Recently, Microsoft released a new iOS app called CoPilot, a powerful AI chatbot that strives to revolutionize how we interact with technology. In its initial release on December 29, 2023, CoPilot is designed to be a versatile AI assistant that can create text, translate languages, and answer questions informally.

What is CoPilot?

CoPilot is an AI-powered chat assistant originally part of the Bing app. It operates similarly to OpenAI's ChatGPT but with the added advantage of accessing GPT-4, the latest large language model from OpenAI, without having to subscribe. A clean and intuitive user interface makes the app feel more like a conversation than a search engine query.

How Does CoPilot Work?

CoPilot generates responses to user queries using AI models. You can interact with it by typing, talking, or sending images. The app provides real-time intelligent assistance and works alongside popular Microsoft 365 applications such as Word, Excel, PowerPoint, Outlook, Teams, and more. The software allows you to create, summarize, edit, or transform content in real-time.

What Does CoPilot Cost?

CoPilot's basic version is free to download and use. CoPilot Pro, a premium version Microsoft offers, costs $20 per month per user. Microsoft AI's CoPilot Pro provides access to the latest features and best models, including priority access to OpenAI's GPT-4 Turbo for faster performance.

Why Should Businesses Care?

Especially for power users, creators, researchers, and programmers who wish to access AI models quickly, CoPilot can be an invaluable tool for businesses. In addition to increasing productivity, creating compelling content, and unleashing creativity, CoPilot is integrated into various apps, including Microsoft Teams. It is a versatile framework that can evolve with changing requirements in today's software development environment.

Microsoft's CoPilot is an exciting addition to the world of artificial intelligence assistants. Its versatility, user-friendly interface, and integration with popular Microsoft 365 apps make it a powerful tool for businesses and individuals.

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