The Secret Auction that Set Off the Race for AI Supremacy

On the surface, this article is about neural networks and the beginnings of AI, but I actually think it's invaluable insight into capitalism, scarcity, the psychology of valuations and maybe a little rich people foolishness.

"Seeing a much wider opportunity, he asked Baidu if he could solicit other offers before accepting the $12 million (to come work for Baidu "for a few years"), and when Baidu agreed, he flipped the situation upside down. Spurred on by his students and realizing that Baidu and its rivals were much more likely to pay enormous sums of money to acquire ... See more