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V insightful piece by @DKThomp on unicorns, slow growth and failed promises of innovation
"Big Tech continues to find new and profitable ways to sell ads and cloud space, but it has failed, often spectacularly, to remake the world of flesh and steel"https://www.theatlantic.com/magazine/archive/2020/01/wheres-my-flying-car/603025/ …
"Perhaps it’s time to reconsider the wisdom of placing such a big bet on Silicon Valley delivering the United States from its rusting present to a glimmering future. Too much American ingenuity is chasing problems that simply don’t matter."
New and profitable ways? Violating privacy isn’t exactly something to be proud of. Thinking about getting into the arms and narcotics business myself.
From the(quite good) article- America’s innovative talents have devolved from versatility to specialization. If we’re going to concentrate so many resources in one sector, that sector had better produce. ...Too much American ingenuity is chasing problems that simply don’t matter.
Yes, transforming the physical worlds is hard and will require plenty more cash to be burned. But the main premise — that productivity has stalled — is based on the inability of old economic models to measure productivity in the digital age, not from a lack of actual improvement.
This challenges a few claims made casually all the time and also made in this piece regarding ride sharehttps://twitter.com/noahpinion/status/1206987237834911745 …
Fwiw the first author is Uber's economist. It's a real journal, though there's been some criticism of their past economic academic dalliance
Honestly wish tech media would cover more of the stuff happening in the deep tech part of Silicon Valley. The kinds of businesses you’re talking about here are not the majority of seed pitches we’re seeing. Haven’t been for awhile.
People with a pessimistic view should spend time browsing portfolio pages of DCVC, Khosla, Lux, a16z biotech, Root etc etc
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