Moore has been right this far, and I expect that Moore's Law will continue to hold true for the next 10 years at least. After that, the physical limitations of silicon may force a rethinking of the whole technology, but you never know. Twenty-five years ago, the fastest microprocessors ran at 1 gigahertz – 1,000 megahertz (MHz). Now you can buy 6 gigahertz (6,000 megahertz) Intel processors and people are waiting impatiently for 10 gigahertz models.
The growth industries in the technology economy were computers, software, semiconductors, communications, the Internet, and medical technology. The infrastructure changed to satellites, fiberoptic networks, and wireless connectivity. Again, the great new family fortunes were built in these areas – Gates, Jobs, Bezos, et. al.
Year after year, technology companies grew 10% to 20% with no inflation while the rest of the economy plodded along at 2% to 3% real growth. Technology started as a small specialized segment of the economy in the 1970s. After several years of rapid relative growth, technology now accounts for almost 20% of the total economy.
Now the next economic revolution is here. Artificial Intelligence (AI) and the Metaverse will remake every sector of modern life, including the agrarian, industrial, mass production, and technology economies that preceded it. With this transformative tide comes unprecedented opportunities for investment, paving the way for a new generation of industry leaders and wealth builders.
This book is about the leading-edge companies that will power the AI and Metaverse revolutions, their strengths and weaknesses, and how best to invest in them. It's important for you as an investor to realize that a radical transformation is sweeping across literally every company and job in the world. Some companies will take these tools and successfully transform themselves. Others will miss the change and fade into irrelevance or bankruptcy.
Some nimble new companies will disrupt entire industries before the current players realize what happened. There will be a lot of “Oh, isht!” moments. Don't put all your money into AI and Metaverse stocks – see Chapter 28 for further instructions – but don't put any money into companies that don't see the coming tsunami. If you think a Reed College dropout bringing down a 120-year-old company like Eastman Kodak was a one-off – well, as the song says, you ain't seen nothin' yet.
There will be a rush to align investment capital with the new entrepreneurial areas, especially in the United States. Except for robotics, where Japan is #1, the United States will dominate the new AI and Metaverse technologies. In this global market that includes consumers and corporations around the world, US dominance of AI and the Metaverse is likely to produce domestic wealth comparable to Britain's in the Industrial Revolution of the 1800s. Several years from now there will be dozens and dozens of AI & Metaverse funds serviced by hundreds of Wall Street analysts retreaded from old economy industries. Get there first.
Paid subscriber or not, if you would click the ♥ symbol below it would really help me get the word out.