Category: Business

The cost of no costs

The reason businesses have employees rather than contracting out everything is to reduce transaction costs. If a company needs enough graphics work, they hire a graphic artist rather than outsourcing every little project, eliminating the need to evaluate bids, write contracts, etc. Some things are easier when no money has to change hands. But some […]

Cop with a mop

Yesterday I was at a wedding, and a vase broke in the aisle shortly before the bridal party was to enter. Guests quickly picked up the pieces, but the vase left a pool of water on the hard floor. A security guard ran (literally) for a mop and cheerfully picked up the water. He could […]

Why isn’t CPU time more valuable?

Here’s something I find puzzling: why isn’t CPU time more valuable? I first thought about this when I was working for MD Anderson Cancer Center, maybe around 2002. Our research in adaptive clinical trial methods required bursts of CPU time. We might need hundreds of hours of CPU time for a simulation, then nothing while […]