We are currently seeing more of a diffusion of technology outside of the first world and a regression to the mean across economies than the breakout productivit

We are currently seeing more of a diffusion of technology outside of the first world and a regression to the mean across economies than the breakout productivity growth we saw in the US/Europe/Japan post WWII So productivity growth is definitely happening globally, but generally by bringing existing tech to new geographies (usually combined with cheaper labor input and less regulation), or adapting existing technology to legacy processes in industrialized economies Investors are not returning to scifi of the 60s, just take a look at the latest YC demo day: loan due diligence, direct to consumer B2B platform, "AirBNB for electric chargers", online sales academy, contractor onboarding software - tech is truly focused on picking some huge TAM market and taking x% of that market from legacy competitors by having a narrow focus and adding "tech" to the offering [1] The lucrative place to be right now is private equity - there's so much money floating around for buying and selling companies right now ($2TN in uninvested "dry powder" at end of 2018). Why invent new products and companies when you could simply buy an existing business and cut costs to attain or boost profitability [1] https://techcrunch.com/2019/03/19/best-of-y-combinator/ https://techcrunch.com/2019/03/19/best-of-y-combinator/