Inspired by the 100 Yen shops in Japan and similar retail concepts in Europe and the U.S., Chinese entrepreneur Ye Guofu and Japanese designer Miyake Junya founded the low-cost variety store chain MINISO in 2013. Over the last five years, MINISO has been the fastest-growing retailer in China, according to Euromonitor International. Now, the company has a global empire of 3,500 stores in 79 countries with total sales of $2.6 billion USD in 2018.
And the costs of the inefficient, error-prone process that is drug discovery are not only high but increasing. Where Moore’s Law illustrates the cheapening and "easy access" of digitization in many technology fields, the pharmaceutical industry has the cleverly named Eroom’s Law ("Moore" spelled backward), described by Jack Scannell and team in 2012, that shows that the number of new drugs approved by the FDA per billion U.S. dollars (inflation-adjusted) spent on R&D has halved roughly every 9 years.
Last week, the price of a single Bitcoin floated around the NZ$15,000 mark. But on May 22, 2010, when Hanyecz posted his plea for pizza, 10,000 Bitcoins were worth just US$40. A student, Jeremy Sturdivant, took him up on his offer, accepting the Bitcoin and placing an order at a Papa John’s pizza outlet for Hanyecz.