0:00 Hi, it's Laura again. And welcome to the last part in our swarm series. And you've now heard about swarm engineering, swarm algorithms and swarm robotics. And I hope that you're really excited about how useful or interesting this all is. For the las t part in the series, we thought we'd do something a little bit different. So we'd like you to pretend that you're an investor, and you're going to invest in research. And there's different types of investment but there's three types that we'd like you to focus on. So blue sky thinking is whenever you're investing in a really out there idea, so a new idea that could completely change the world. So think about it whenever the internet was invented, and that was such a wonderful idea that didn't exist before. Think about whenever mercury was using great radiation to treat cancer, that was a really their idea at the time. So that's the kind of thing you want to fund with blue sky thinking. You want to fund something that may not work but could if it does work. could completely change the world. Another type of investing in researchers whenever you think it's almost business ready. So whenever you think the idea is really mature, and it has been worked on quite a lot on, it's a good idea. And you can see how it c ould turn into a business. And good things to think about here is did you understand it? Because for something to become a business, you need to understand that other people need to understand that. Can you see who the customers of the idea are? So is it s olving a problem? And, for example, I know of companies who work on climate change, so what are they going to do? I'll hire they actually are they signing plastic, plastic free stuff? What are they doing? So what is the problem? What's the solution? And wh o are the customers of this idea? And I would think about who are the customers who the customers could be people like you and me, they could be businesses, they could be the government, it could be something like the NHS, so the different types of custome rs but you just need to think about who's going to pay for it. And the last one is the one that's most important to me. And it doesn't actually get as much funding as it should. And it's called social impact. So what that means is, is it going to have a go od impact on the world? Is it going to help people? Is it going to help society. And these can be things like medical, but they could be different things like education. And we've shared a list with you called the UN Sustainable Development Goals. And if y ou're confused, what social impact is, it might be good to look at those and see if the research idea meets any of these Sustainable Development Goals, then you can see that it's having a social impact. I love it more information on all of these in the pre work if you've done it, and some links about how to think about it, and what the task for this access for this is. And myself and Julian and some of our colleagues have recorded a two minute pitch on our research and we want you to go through it, decide s ummarize the research, decide which type of this investment suits it and why and then we Want you to pretend you have a million cartons, and you have to decide which way to share it between all of the research so maybe loved one and you want to give it all to them. Maybe you want to hedge your bets, but we want you to think about it and think why you would do that with your money. And there's a document with a table you can fill in as part of this and we hope you've enjoyed this and we hope you enjoy watchi ng the videos and learning a little bit more about what we do on a daily basis. Thank you so much for listening. Transcribed by https://otter.ai