"Econ 102" with Noah Smith and Erik Torenberg Tech Maturity and What Lies Ahead
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Aug 14, 2024 This discussion dives into the evolution of technology perception and the challenges in differentiating between 'tech' and genuine innovation. The hosts explore the maturation of the internet alongside the promising impact of AI on education and healthcare. They also tackle venture capital dynamics in the AI landscape and the financial struggles faced by new startups. The conversation touches on shifting power within major tech firms and how these changes might affect future investments and the political landscape.
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Tech as Investment
- "Tech" is not just technology, but an investment category focused on outsized financial returns.
- It's about making large sums of money quickly from technology-related ventures.
Mature Internet
- The internet is mature, limiting massive returns from core internet technologies.
- Future internet companies will likely disrupt existing ones rather than create entirely new markets.
Lululemon Example
- Lululemon exemplifies how mature industries see incremental improvements, not revolutionary changes.
- They made slightly better pants, displacing competitors, not inventing a new clothing category.
