3 ms·
This is a great article for the corporate titans of yesteryear, which puts today's 'innovation malaise' into perspective (as well as putting the IT boom in a hi
by mdda 12y ago
This is a great article for the corporate titans of yesteryear, which puts today's 'innovation malaise' into perspective (as well as putting the IT boom in a historical context). For instance :
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Perhaps the greatest shock to our Rip Van Winkle economist, however, would be the fact that, with the exception of the plastics industry, the main engines of growth in the past 50 years were already mature or rapidly maturing industries, based on well-known technologies, back in 1913.
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and
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Within the next ten years, information will become very much cheaper. An hour of computer time today costs several hundred dollars at a minimum; I have seen figures that put the cost at about a dollar an hour in 1973 or so. Maybe it won’t come down that steeply, but come down it will.
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Overall, a very interesting read.
- VLM 12y ago"as well as putting the IT boom in a historical context" From http://en.wikipedia.org/wiki/Gross_world_product http://en.wikipedia.org/wiki/Gross_world_product The gross world domestic product in 2012, using 2012 value dollars, was a bit under 72 trillion dollars. Gross facebook revenue per google in 2013 was 7.9 billion dollars. Some arithmetic done in my head and to one sig fig facebooks revenue is about one ten thousandth of the worlds GDP. Fortunes can be made in tech, but its always going to be a rounding error compared to food, shelter, etc. There's just too many people eating, for example.