Technical innovation brings up to 10x improvements on our work and personal life. This can be brought in 2 ways: - Startup way based on the promise of high returns to get investment and hard work to make it happen. - Research way where no revenue promises are made but less ressources are provided
The startup way has triumphed and technology has permitted the rise of the Californian Startups (FAANG + MS): huge companies with high revenues.On top of that those companies cannot be cut down as they werer in the past. We all remember how AT&T got cut in smaller companies in the past. However Facebook today remains unchanged, partly because the USA needs a big competitor against big foreign companies like Tik Tok.
However those companies are today unable to innovate. Google has amassed 135 billion euros and does not know how to invest that money.
We see that the products of those big companies are now even becoming fashion as they're not adding new game changer features. For instance, Galaxy Flip 3 phone would be an example of a device bought for its aesthetics more than its function.
We also see that every new wave of devices stops innovation at the previous device. We went from mainframe, to desktop PC to mobile phones. Smart watches seem to be the new innovative place to be. And VR will be likely the next one.