HBR IdeaCast Tech’s Exponential Growth – and How to Solve the Problems It’s Created
Oct 12, 2021
Azeem Azhar, an entrepreneur and investor, dives into the whirlwind of technological advancement and its societal impacts. He highlights the stark divide between digital haves and have-nots, urging for better regulatory frameworks. The discussion covers the shift in income distribution, the need for adaptability in business practices, and lessons from global models like Denmark's FlexSecurity. Azhar advocates for transparency and responsible governance, emphasizing that technology should benefit society as a whole.
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Exponential Growth's Double-Edged Sword
- Exponential growth in technology creates value and new industries.
- However, it also presents challenges as rules and regulations haven't kept pace.
The Seatbelt Analogy
- We didn't need seatbelts before cars, but their increasing speed and prevalence necessitated regulations.
- Similarly, rapidly evolving technologies require new rules to mitigate unintended consequences.
Hidden Costs of Technology
- While consumers benefit from lower prices, there are hidden costs to rapid technological advancement.
- These externalities, like pollution or worker exploitation, aren't reflected in current pricing models.
