Revolutionomics Principle: Adoption rates of new technologies continue to accelerate
BOOK : The Revolutionary Technology
Can’t you just picture a bunch of monks, counts and princes fighting over the patents for say, “page turning” or for “bound cover” in the same way Apple, Amazon, Google, et al fight over patents for “swipe screen” and “app placement” in smartphone technologies of today?
Isn’t this just about how Apple would announce the release of the first ever book?
On a more serious note, think about how the technological revolutions going on today are going to impact the future of our societies and our economies in decades to come as the book has over the last few centuries. Look at the adoption rates of various revolutionary technologies of the last century as compiled by Michael Degusta in MIT’s quarterly Technology Review:
I’d imagine that it took the book a century or more to reach 10% penetration rate after the technology for book printing and binding was developed.
The upshot is a very important Revolution Investing principle: Adoption rates of new technologies continue to accelerate even into the 21st century and that will continue pretty much forever as long as the electricity grid and the Internet stay on.
As for trading, the markets are indeed fading gently lower as the day wears on, and I’m not looking to fight it one way or the other. I will remind you guys once again that patience and not trading at all when the odds aren’t clearly in your favor are so key to long-term investing success. Be patient. Use tranche buying to scale into the stocks that you don’t own enough of. Trim a little bit of some of your biggest winners. Buy a few puts or otherwise hedge your net long exposure right now. Stick to the playbook that’s gotten us here.
