The creative destruction 3.0

Hi Space Explorer,

It's Jacques again, and these are my daily thoughts, 

The economy evolves through innovation,

These innovations may render existing technologies, products or services obsolete.

Smartphone has made mp3 players, digital cameras and mobile GPS devices obsolete, 

According to Schumpeter, creative destruction is the reason why capitalism is both dynamic and unstable. 

Entrepreneurs are constantly introducing innovations, disrupting the existing economic equilibrium.

Today, we're living through the preludes to massive creative destruction.

There are two main technologies that will reshape the way we consume, work and socialize;

Artificial Intelligence and Web3.

It's easy to see how AI will change our lives.

From more accurate medical reports, to basic office tasks, to understanding the civil code for more transparent justice. Not to mention the scientific advances to come thanks to AI.

For Web3, it seems less clear, but it's inevitable.

Decentralized finance, private and anonymous data, private and guaranteed ownership. A system designed to be more inclusive.

When technologies are new, they divide opinion, reshuffle the deck, create frustrations, then eventually get adopted and nobody talks about them anymore because they're part of everyday life and the spotlight is on a new technology in development.

When Steve Jobs launched the Macintosh in 1984, he wasn't taken seriously, as his competitors didn't see the point of a personal computer. 

In 2020, some 86% of American households owned a computer.

Follow the money,

In 2023, the only technology industry raising money is AI, with $17.9 billion, according to Bloomberg. 

On the Web3 side, investors are waiting for ETFs, and all the big fish will dive when legislation becomes more precise. 

It's only a question of time.

We're in the right place.

This newsletter is mainly about $SPACE, but the technological advances to come should be seen in the context of this blockchain's ambitions.

Let's get back to work

JACQUES - SPACE EXPLORER

Send me your feedback by DM to my X account: https://twitter.com/Jacques_deBrie