Understanding the Limits of Innovation
29th August 2023
Thanks to the right demographics and cheap capital, we’ve been living in a period of extreme technological advancement and innovation. As our environment changes and new problems arise, will innovation be able to keep up?
Innovation requires a fairly specific set of circumstances. You need enough people in their 20s and 30s imagining a future and developing the tech, along with a capital-rich environment (since you won’t see any $$$ until you hit the backend of innovation). Our world is changing, and these conditions are no longer present, so we must temper our expectations.
Anything that hasn’t reached operationalization…probably won’t make it. Below are a few industries where transformative innovations are still getting lots of attention, so let’s look at those on a scale from least likely to happen to most likely: modular nuclear reactors, artificial intelligence hardware, space and satellites, biologic drugs, shale, and agriculture.
These technologies and industries will make some of the most significant impacts on the world, but it will be no small feat. There will be hurdles and obstacles along the path to innovation, and every country will have a different outlook, but I would expect the US to be one of the first through the gate on most of this.