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A lot of confusion could be avoided if people realized “tech” is the definition of a financial sector that is characterized by a particular wealth-building model rather than a particular “high” technology means. That’s just been a strong correlation 1970-2015.
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Replying to @chenoehart
“Tech” is fast cycle-technology, <10y to wealth-creating exits. Cities, like basic research, are slow-cycle technology, 50-70y to wealth creation, and via mechanisms that aren’t private cash-out “exit” based, but public cash-in “voice” based.
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That’s why when “tech” wanders out of software/electronics/semiconductors, it is as likely to go “low” tech (grilled cheese, juice, clickbait media) as it is to go into a new “high” tech (biology, crypto). It’s the financial ~10y return structure not the technology applied.