The latest Uncommon Knowledge features an incredibly interesting interview with Peter Thiel (PayPal co-founder) and Andy Kessler (former venture capitalist) regarding the state of technology and progress.
Peter Thiel, no slouch in the technology entrepreneur world, questions the true extent and impact of technology progress over the last 40 years. While Andy Kessler is more positive, he doesn’t contradict Peter’s thesis. I think it is a fair point to question what is truly novel over the last 4 decades. Is much (not all, of course) of the “progress” we’ve seen just the full scale exploitation or optimization of mid-20th century discoveries and inventions?
A more difficult discussion here is why has real technology development slowed? Kessler points to really interesting developments in gene therapy, 3D printing, and robotics. But both Kessler and Thiel believe real progress is only happening where the long and clumsy hand of regulators hasn’t yet reached. Peter Thiel is blunt that regulation has largely been about outlawing real innovation.
I don’t know about you, but I have witnessed increasing constraints on client’s strategic flexibility due to regulation, whether from the threat of new rules by civil authorities or through the “promise” of industry self-regulation (e.g., voluntary formulation change, etc.).
Past the halfway mark in the program, both Kessler and Thiel engage in a very insightful discussion on higher education. For those of us with young children, let’s hope their prognosis of crisis and collapse of the current system happens sooner rather than later!