#tech evolution

Once upon a time, owning a television was an extraordinary luxury. Families gathered around small, grainy screens, captivated by black-and-white broadcasts that seemed magical at the time. Fast-forward to today, and we laugh at the thought of having just one screen—let alone one without color, HD, or streaming capabilities. Ever notice how every significant technological breakthrough feels monumental, only to become obsolete as soon as the next innovation arrives?

Understanding the Technological Bubble

Technological bubbles occur when groundbreaking innovations redefine societal norms, behaviors, and expectations. Each advancement creates its own bubble of influence—initially expanding as adoption grows, then ultimately bursting when a newer technology emerges.

Consider the evolution of televisions:

First Bubble: Black-and-white TVs revolutionized entertainment, bringing the world into living rooms for the first time.

Second Bubble: Color TVs popped the original bubble, making monochrome obsolete and setting a new standard.

Third Bubble: Flat-screen and HD televisions burst the color-TV bubble, making bulky sets feel like relics of the past.

Each bubble transformed society, influencing consumer behaviors, shifting economic landscapes, and altering our perception of normalcy.

Historical Echoes

Technological bubbles aren’t exclusive to televisions. They repeat throughout history, reshaping reality each time:

Communication: Letters → telephones → smartphones.

Music: Vinyl → cassettes → CDs → MP3 → streaming.

Internet: Dial-up → broadband → Wi-Fi → mobile connectivity.

Every bubble expanded rapidly, enveloping society in its new standards before bursting and being replaced by something even more revolutionary.

The Mother of All Bubbles

Today, we're living inside perhaps the largest technological bubble humanity has ever known: the global fiat monetary system and traditional finance. Like previous bubbles, this system feels unshakeable, inevitable, and everlasting. But like every bubble before it, it's ripe for disruption—this time, by decentralized technologies like Bitcoin.

Bitcoin isn't just a new type of money; it’s a radical departure from centralized financial control:

Decentralization vs. Centralization: Bitcoin puts financial power back into the hands of individuals.

Transparency vs. Secrecy: Blockchain technology makes financial transactions visible, verifiable, and resistant to manipulation.

Scarcity vs. Inflation: Unlike fiat currencies, Bitcoin has a capped supply, protecting against endless monetary inflation.

This next bubble is growing, quietly expanding in the shadows of mainstream finance, and it has the potential to burst the financial bubble we've lived in for generations.

What Happens When the Biggest Bubble Pops?

Imagine a world where financial control no longer rests in the hands of governments and banks, but with the people. When the fiat bubble bursts:

Financial Sovereignty: Individuals gain unprecedented financial autonomy and responsibility.

Power Redistribution: Central banks and financial institutions must adapt or risk obsolescence.

Societal Shifts: Our collective understanding of money, value, and community could be entirely redefined.

This transition won’t be without challenges. Initial instability and fierce resistance from established systems are inevitable. Yet, the opportunity for increased transparency, fairness, and efficiency makes this burst not just likely but necessary.

Preparing for the Pop

Every technological bubble eventually bursts. The question isn't if, but when. Understanding and recognizing this process enables us to position ourselves advantageously for the inevitable shift. Embracing the next technological wave means stepping beyond comfort zones and preparing to thrive in an evolved landscape.

Tick Tock Next Block.

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This is how French illustrators imagined future technologies in 1924

I've found this picture on the internet and it made me reflect on the contrast between the past and the present. Beck then, people fantasized about the futur, just like we do today but the technology they imagined was very different. In this image, people are connecting with others via massive, strange equipment. In the background there is also what looks like an electric car.

I was born in 1990 and during my childhood there were no mobile phones, computers or electric scooters. I got my first mobile phone in 2006 as a gift from my mom. It only had MMS and SMS with no internet and the camera quality was poor but at the time it felt incredible because we didn't have the advanced gadgets we do now.

Technology has been advancing rapidly. Every year we see new models of phones, better cameras and the internet becoming more powerful. Now, we can not only talk to each other and post on social media but also do countless other things.

Today, we imagine colonizing other planets and people can create images using AI, just as illustrators did 100 years ago with their drawing skills. But now it's simple as typing a few worda and a machine created the picture.

Our descendants 100 or 200 years from now might look at our current creations while sitting on Mars. They'll probably feel surprised and smile, wondering how we could live without the technologies they have in their time.

And what do you think about this?

“Decades of technological change have polarized the earnings of the American workforce, helping highly educated white-collar workers thrive, while hollowing out the middle class. Yet present-day advances like robots and artificial intelligence do not spell doom for middle-tier or lower-wage workers, since innovations create jobs as well. With better policies in place, more people could enjoy good careers even as new technology transforms workplaces.”

“As technology takes jobs away, it provides new opportunities; about 63 percent of jobs performed in 2018 did not exist in 1940. Rather than a robot revolution in the workplace, we are witnessing a gradual tech evolution. At issue is how to improve the quality of jobs, particularly for middle- and lower-wage workers, and ensure there is greater shared prosperity than the U.S. has seen in recent decades.”

Major Conclusions

1. “Technological change is simultaneously replacing existing work and creating new work. It is not eliminating work altogether.”

2. “Momentous impacts of technological change are unfolding gradually.”

3. “Rising labor productivity has not translated into broad increases in incomes because societal institutions and labor market policies have fallen into disrepair.”

4. “Improving the quality of jobs requires innovation in labor market institutions.”

5.  “Fostering opportunity and economic mobility necessitates cultivating and refreshing worker skills.”

6. “Investing in innovation will drive new job creation, speed growth, and meet rising competitive challenges.”

MIT News, November 17, 2020: “Report outlines route toward better jobs, wider prosperity,” by Peter Dizikes (links in article broken use link below for report)

MIT, 2020: The Work of the Future: Building Better Jobs in an Age of Intelligent Machines (100 pages, PDF)

Once, pockets overflowed—Nokia for calls, Game Boy for Tetris, Cyber-shot for snaps, iPod for tunes. Now one smartphone, the digital Swiss Army knife, folds an era of gadgets into glass.

#Technology #Tech #Y2KTech #RetroGadgets #TechEvolution #SmartphoneRevolution #Minimalism