Peter Thiel says that take away the internet, and we’re basically still living like the 80’s.
Manufacturing isn’t a sexy investment. Risky, and high start up costs. Investors are more interested in get rich quick: hence software. Musk is the outlier.
Manufacturing is also a long term investment. Supply chains are complex and take years and years to develop reliable products from reliable sources. Product development takes a long time. Sourcing takes a long time. We need to create the right investment incentives.
Most tech is bullshit.
Winner takes all when time is what you compete for.
Tech’s big contribution is information symmetry between demand and supply.
This reduces time to find what you’re lookin for.
Time is value. But time is finite.
Now that we have it: how do we spend it?
So tech is fighting over everyone’s 24 hours in a day.
Thanks to tech, knowledge workers can be more productive. Unfortunately, contrary to Keynes prediction, workers don’t have more time. They have less.
Less time to socialize. Less time to vacation. Less time to raise children. Less time to read. Less time for physical activities. Less time to eat.