DematerializationSee this table, with 11 cutting-edge and expensive devices from 1969 to 1989. By 2011, you could pick up all of these devices for free. That's over $900,000 worth of tech entirely "demonetized" and valueless, in about 30 years.
All of this technology at the equivalent level combined, was readily available on a single device by 2011 - a smartphone, such as the iPhone 4S or Samsung Galaxy S2 - for under $200. In 2022, you can pick one of these up on ebay for a tenner. In fact, we have about 30 of them here in a box to be recycled. That's $27 million worth of tech equipment from the 1980's, waiting to be disposed of because they're worthless three decades later.
It's getting cheaper to meet our needs and wants.
Look at all the high-end devices on your desk, and contemplate the fact that it will have nearly zero value within 20 years.
Expand this concept further. Exponential progress and developments in technology will continuously reduce the cost of living until it reaches zero - that's housing, transportation, food, health care, entertainment, clothing and education.
Because year-to-year progress seems quite slow, we perhaps underestimate progress on a longer timeline - such as a decade or two.
Imagine 2040. High quality virtual reality will be available to experience sports and concerts. Our cars will drive themselves seamlessly. Genetic sequencing will allow us to prevent diseases, rather than treat them.
As for our phones - who knows. But whatever Sci-Fi-fantasy-black-mirror idea you can envision... It might not be far off.
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