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We Salute Our Members for LeadingInnovation at Fortune 500.A tribute to all who made Rethink Strategy 2015 a great success.Andrew AbramczykVP IT Operations and Service Management Erie InsuranceSteven AmbroseVP & CIO DTE EnergyJeff ArcuriSenior Director IT GapOlivier BerautVP World Wide Program Management and Engineering Execution PlantronicsDavid BernardSr. Director, Global R&D Business Information Solutions PepsiCoAndrew BursteinDistinguished Member of Technical Staff Maxim IntegratedJoe BurtonEVP of Product, Technology & Strategy and CTO PlantronicsRajeev ChandrasekharanVP IT - Self Service and Enterprise B2B Systems VerizonPaul ChapmanCIO of HP Software HPScott CharneyCVP Trustworthy Computing MicrosoftScott CrowderCIO BMC SoftwareXavier deAndaDirector, Software Operations GenoptixDiana DrysdalePresident PSEG Power Ventures LLC President PSEG Solar Source LLC PSEGRobert FraleyCTO MonsantoMarc FronsCIO New York TimesBrett GaluraVP Solution Development, AES Energy Storage AES CorporationAndrés GluskiCEO AES CorporationAlex GourlayPresident WalgreensNicholas GrabowskiPrincipal of Application Architecture Charles SchwabSteven GrayCTO CSRPearl GutierrezAVP, IT Operations USAAPatty HagenVP of Enterprise Technology Management Northwestern MutualRalph IzzoCEO PSEGCharles KalkoSr. Engineering Manager Internet Services Operations AppleShafiq KhanSVP eCommerce MarriottVas KodaliEVP, Technology Partnership Development Wells FargoRoger KroneCEO LeidosAshok KumarVP VerizonRobin LandeckGM, Engineering Operational Excellence GERobert LangVP Risk and Surveillance Solutions, SMARTS and TradeGuard NasdaqPaul LehmanCIO ExperianRobert LoganSVP & CIO LeidosSteve MansourHead of Engineering AppleFrank MariscoSr. Director of Software Engineering NTT CommunicationsKimberly MartinGroup Head, Value Added Services MastercardJennifer MasonSVP IT Business Partnerships and Planning MarriottMike MiglioreVP of Application Sallie MaeTim MoranSVP of of Global IT LiveNationOm NalamasuCTO Applied MaterialsBen PatelVP Global Research & Development TennecoJoan PertakSVP & CIO PepsiCo Americas Beverages PepsiCoRay QuinlanCEO Sallie Mae

Martin RichenhagenCEO AGCO CorporationScott RobisonSVP Global Technology Services ExperianJoseph SantamariaCIO PSEGMatt SauerDirector–Architecture Northwestern MutualPhil SherburneVP Software Development PlantronicsAnthony SimonVP Technology Strategy & IP Program Management CSREric SmithVP Architecture USAAEric TagliereSVP Applications Development and Enterprise Architecture MarriottHugo VasquezVP of Global Technology Solutions AES CorporationRadhika VenkatramanCIO for Network VerizonGary VonderHaarCTO Architecture MastercardMarcus WeldonPresident Bell LabsSlava ZhakovCTO GenesysBe Indispensable.Our mission is to cultivate growth and continuing relevance in organizations by guiding theirCTOs, CIOs, EVPs Technology and Heads of R&D by providing non-commercial settings, accessto innovation, unique content from industry innovators and top academics, powerful networking,career advancement, and early awareness of market opportunities.Only Senior Technology Leaders from F500 May Apply for Membership.Upcoming ProgramsRethink Disruption Emerging Technologies Transforming Business & SocietyNovember 5 – 6, 2015 St. Regis Hotel, San FranciscoRethink Technology Revolutionizing IT Systems, Data, Technology Ops, & Software DeliveryFebruary 11 – 12, 2016 Four Seasons Hotel, Palo AltoThought Leadership. Collaboration. Breakthroughs.Email: Membership@CTOForum.org408.806.9595Facebook: TheCTOForumTwitter: @CTOForumwww.ctoforum.org

MIT TECHNOLOGY REVIEWVOL. 118 NO. 4TECHNOLOGYREVIEW.COMIn conceiving the stories in this BusinessIssue of MIT Technology Review, wemeant to do business journalism ourown way. We chose stories about hownew technologies are affecting companies and markets—stories that reflectour way of seeing the world.That mode of perception is mostlyconcerned with how novel technologiesallow people to do things they couldn’tbefore, but it is cognizant of the formidable challenges related to commercializing products and services that billionswill use. We didn’t want to publish traditional narratives of public companiesand startups (that debased and debasinggenre), nor laudatory profiles of chiefexecutives and founders (because suchpieces shed little light upon the venturesand what they make).Instead, you’ll read about the raceby pharmaceutical companies to deliverimmunotherapy for cancer (see “Biotech’s Coming Cancer Cure,” by AntonioRegalado, page 36) and about howGoogle and Apple are striving to ownthe operating system of our future cars(see “Rebooting the Automobile,” by WillKnight, page 54). You’ll find interviewswith people of whom you’ve possiblynever heard, like the head of OvaScience, a biotechnology company thatadds mitochondria to women’s eggs toincrease fertility (see “Slowing the Biological Clock,” page 60). The most conventional thing in this package of storiesis our annual list of the 50 smartestcompanies in the world (page 45); buteven here we hope the selection of businesses provokes.One of the most dispiriting characteristics of much of business journalismis its relentless Panglossian cheerfulness: it can read like a form of propaganda. But all technological disruptionsproduce both winners and losers, andthe impact of automation and digitaltechnologies upon the most important2market of all—labor—has been especially challenging.In the Business Issue’s anchoringessay, David Rotman, MIT TechnologyReview’s editor, writes:“It is notoriously hard to determinethe factors that go into job creation andearnings, and it is particularly difficultto isolate the specific impact of technology from that of, say, globalization,economic growth, access to education,and tax policies. But advances in technology offer one plausible, albeit partial,explanation for the decline of the middleclass.”Lord Keynes described the “maladjustment” due to “our discovery ofmeans of economising the use of labour”as “technological unemployment.”Rotman’s essay analyzes different prescriptions for technological unemployment and explains why they wouldn’thelp (as would be the case with a guaranteed minimum income) or are promising but insufficient to the scale of theproblem (like education to prepareworkers for technology-intensive jobs).Elsewhere in this package of stories,a congregation of technology luminaries and business school professors offertheir own responses to inequality. Theysay the “evidence is clear” that the benefits of a digital and interlinked world“have been very uneven” (see “Open Letter on the Digital Economy,” page 11),and they “call on business leaders todevelop new organizational models andapproaches that not only enhance productivity and generate wealth but alsocreate broad-based opportunity,” adding,“The goal should be inclusive prosperity.”Or as Rotman glosses this approachin his essay: if the returns to capital haveoutpaced the benefits to labor in ourtechnological civilization, then perhapsmore people need to own the robots.But write to tell me what you thinkat jason.pontin@technologyreview.com.GUIDO VIT TIFrom the Editor

MIT TECHNOLOGY REVIEWVOL. 118 NO. 4TECHNOLOGYREVIEW.COMContentsFront2From the Editor8FeedbackBackJuly/August 2015BUSINESS REPORT10 Fighting for ZachWe need better treatments foraggressive cancers.11Watch ThisMedical sensors will makewearable tech indispensable.11Open Letter on the DigitalEconomyA fairer approach to dealingwith technological change.TheBusiness IssueREVIEWS74 The Struggle for AccurateWearable SensorsActivity-tracking bands neednew technologies if they are totruly affect our health.By Rachel Metz78 Waiting for GoogleHow a tech giant’s whim gaveus speedier broadband.By James SurowieckiUPFRONT13 Apple’s Plans for Your DNAHow the iPhone could becomea new tool for genetic studies.DEMO15 Three Questions: Biz StoneA Twitter cofounder explainsthe reasoning behind his latestventure, Super.16 Write Better E-MailsA startup analyzes online datato help you compose moreappealing messages.18 China’s Climate ChallengeCan the country keep itsper capita emissions fromrising much higher?20 Making Fuel from SunlightA promising path towardartificial photosynthesis.22 Fixing China’s Coal ProblemChina has cleaned up its coalplants, but the next steps will bemuch harder.Plus: To Market426Who Will Own theRobots?49Cyber-EspionageNightmareBy David RotmanBy David Talbot34Survival in the BatteryBusiness52The NewWater CoolerBy Richard MartinBy Rachel Metz36Biotech’s ComingCancer Cure54Rebooting theAutomobileBy Antonio RegaladoBy Will Knight45The 50 SmartestCompanies 201560Slowing theBiological ClockBy Nanette ByrnesBy Amanda Schaffer84 Speedier 3-D PrintingA novel technology could leadto custom car parts, medicaldevices—and shoes that fitjust right.By Katherine Bourzac82 YEARS AGO88 The End of DrudgeryFrom the Great Depression, acall to embrace the benefits ofmachinery.ON THE COVERIllustrations by FeixenSubscribersNewsstandILLUSTRATION BY JOOST SWARTEVIEWS65 High-Tech Food ChainTechnology is changing howwe grow, distribute, buy, andprepare our food.

Capital CreatesThe Next EpisodeGreat entertainment enriches our culture When Net ixwanted to produce original programming and expandinternationally, Morgan Stanley helped secure the funds.The nancing helped Net ix become the world s leadingInternet television network Net ix has grown tomillionmembers in more thancountries and changed the waywe watch TV From the writers room to your living roomwe re helping fund the culture that makes us think questionand feel more. Capital creates change.Netflix has grown to 60 million members in more than 50 countries, as disclosedin its SEC filing on Form 10-Q for the quarterly period ended March 31, 2015. 2015 Morgan Stanley & Co. LLC. Member SIPC. CRC1122255 04/15morganstanley.com/netflix