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IPFS News Link • Science, Medicine and Technology

Creating Industries and a New Economy

• https://www.nextbigfuture.com, by Brian Wang

It is important to look at the historical creation of foundational giant industries and supply chains. There are also more recent examples of the creation of the internet, electric cars and nuclear fission power.

There are puzzle pieces and steps to create an industry:
1. From Science into Engineering
2. Engineering into Products
3. Products into Business
4. Business into scaled industry
5. Making the scaled industry involves scaling markets and supply chain

Here is how John D. Rockefeller (Standard Oil) created parts of the oil industry and dominated the oil industry broken into the Industry creation steps. The Standard Oil model is being replicated in how Tesla is creating a new electric economy with Master Plan 3. It is also useful in analyzing how potential new technology like nuclear fusion, AI and reusable rockets could become successful to create new industries.

1. From Science into Engineering.

Chemistry was used to develop oil cracking, creating oil by products and various aspects of refining. A refinery is a production facility composed of a group of chemical engineering unit processes and unit operations refining certain materials or converting raw material into products of value. Copper Oxides were used to remove sulfur from Ohio oil.