I don’t think the uptake of innovation is that simple. Our economy goes through boom and bust cycles. Growth and pruning. Sometimes innovations are great but th

I don’t think the uptake of innovation is that simple. Our economy goes through boom and bust cycles. Growth and pruning. Sometimes innovations are great but they can’t survive pruning because they’re too new. Or sometimes entrenched industries are too powerful for innovation to take hold. One example is in payments. Credit card payments are horrible. I have to carry a physical card which has minimal security features and can be lost or stolen. We are also regularly expected to lose sight of these cards at restaurants. Cards can be skimmed. It’s old tech. What is much better? Paying by QR code. It’s much faster, doesn’t require any hardware we don’t already have, and is far more secure. Countries which never had credit cards pay by QR code because it’s better. Countries (like the US) which use credit cards because they are entrenched both economically (big companies don’t want to switch) and socially (very few places support it because very few people use it).