AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
3min snip
James Bessen - Understanding the Tech Paradigm
Value Investing with Legends
The Evolution of Technology in Mass Production
Technology has evolved from emphasizing quantity production during the Industrial Revolution to focusing on producing varieties at low cost in the modern era. Mass production models, seen in the early textile industry, prioritized standardized products to achieve high productivity and growth. However, the tradeoff was the lack of variety to meet individual needs. Unlike traditional manufacturing, software is modular and enables cost-effective production of varieties. Companies like Walmart leverage proprietary software to handle a large number of diverse products efficiently, from tracking inventory to managing supply chain logistics, giving them a significant competitive advantage.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode