I agree that the near universal access to technology is a game changer and provides opportunity to many. In my shorthand way of thinking, historically the wealth of nations was basically proportional to its population. This changed in the last 200 years as technology and capital concentrated wealth into the hands of fewer countries. I think we are seeing a reversion to the historical trend and this will inevitably impact the place of America in the world.
Nevertheless, the last 200 years has given the US an opportunity to accrue wealth and assets that will provide a buffer for dramatic changes. Remember that in 1969, NASA had the super computer but also had the rockets to send men to the moon. The depth of complementary technology and other assets of America goes beyond the digital and is still beyond the possibilities of most countries.
Whether America comes back is also dependent in how its communities are adapting to the rapid change around us. One of the strengths of the USA has been its adaptability to the changes brought about by its technology and innovation leadership. However, much of the cost of this adaptability has been borne by the working class who lack the safety nets and resources to mitigate the costs. Reduction in wages has been the default condition for adaptation in the US for so many. In past decades, this did not matter as communities in the US upended and moved to opportunities elsewhere. Now the jobs are moving globally and the adaptation in-country requires investment in new skills and capabilities, the cost of which the US society still places on the individual. We have seen the political risks that this introduces and the perception of the US in other countries will be as much about it’s internal engagements as it is its engagements with other countries.
The times we are living in are extraordinary. Looking back from 500 years in the future, I think the themes of technology, China re-emerging and the climate emergency in our age will continue to engage debate amongst historians.
Thank you. Converting non consumers to consumers is critical in rural America and urban underserved markets. The future is very exciting if we are open to recognizing that much of America is waiting to participate and global developing markets have figured out how to create markets.
I look forward to following your progress. Thanks again. I hear your message.
Thanks for this Kurt. I think a great priority for us is to focus at home on digital access and financial inclusion. I’d make it a commitment to have all of us with tech and ability to move digital value within two years. The multiplier ramifications on financial opportunity, unleashing innovators to build and solve problems, to walk in each other’s shoes is profound. We are seeing this happening in markets we don’t understand well and should study and understand them.
Very interesting Chris and much to think about.
I agree that the near universal access to technology is a game changer and provides opportunity to many. In my shorthand way of thinking, historically the wealth of nations was basically proportional to its population. This changed in the last 200 years as technology and capital concentrated wealth into the hands of fewer countries. I think we are seeing a reversion to the historical trend and this will inevitably impact the place of America in the world.
Nevertheless, the last 200 years has given the US an opportunity to accrue wealth and assets that will provide a buffer for dramatic changes. Remember that in 1969, NASA had the super computer but also had the rockets to send men to the moon. The depth of complementary technology and other assets of America goes beyond the digital and is still beyond the possibilities of most countries.
Whether America comes back is also dependent in how its communities are adapting to the rapid change around us. One of the strengths of the USA has been its adaptability to the changes brought about by its technology and innovation leadership. However, much of the cost of this adaptability has been borne by the working class who lack the safety nets and resources to mitigate the costs. Reduction in wages has been the default condition for adaptation in the US for so many. In past decades, this did not matter as communities in the US upended and moved to opportunities elsewhere. Now the jobs are moving globally and the adaptation in-country requires investment in new skills and capabilities, the cost of which the US society still places on the individual. We have seen the political risks that this introduces and the perception of the US in other countries will be as much about it’s internal engagements as it is its engagements with other countries.
The times we are living in are extraordinary. Looking back from 500 years in the future, I think the themes of technology, China re-emerging and the climate emergency in our age will continue to engage debate amongst historians.
Brilliant overview of a rapidly changing world Thank you Chris
Chris. Well said! Thanks for keeping us centered about the challenges and opportunities ahead and keeping us humble but hopeful.
We have so many strengths in this new era - but it is a new dynamic.
Thank you. Converting non consumers to consumers is critical in rural America and urban underserved markets. The future is very exciting if we are open to recognizing that much of America is waiting to participate and global developing markets have figured out how to create markets.
I look forward to following your progress. Thanks again. I hear your message.
Thanks for this Kurt. I think a great priority for us is to focus at home on digital access and financial inclusion. I’d make it a commitment to have all of us with tech and ability to move digital value within two years. The multiplier ramifications on financial opportunity, unleashing innovators to build and solve problems, to walk in each other’s shoes is profound. We are seeing this happening in markets we don’t understand well and should study and understand them.
I enjoyed reading this.
Thanks for doing so and please share!