The rate of change is not going to slow down anytime soon. If anything, competition in most industries will probably speed up even more in the next few decades.
Sentiment: POSITIVE
Every industry is going to be affected (by the aging population). This creates tremendous opportunities and tremendous challenges.
Advances in technology will continue to reach far into every sector of our economy. Future job and economic growth in industry, defense, transportation, agriculture, health care, and life sciences is directly related to scientific advancement.
I don't think we will put higher-ed out of business. I think we'll evolve it. More access, higher quality, lower costs, more global reach.
The only way you get economic progress, real standards of living moving higher, is to have the savings of the society continuously invested in the cutting-edge technologies. And those technologies which are obsolescent get dropped out.
The pace of innovation may slow down or speed up depending on the appetite in the public markets, but the constant progress of technology doesn't really ever stop. There's always opportunities for new ideas and creative people to go build great things. I'm always interested in learning about those kinds of opportunities.
I don't think any of us can do much about the rapid growth of new technology. A new technology helps to fuel the economy, and any discussion of slowing its growth has to take account of economic consequences. However, it is possible for us to learn how to control our own uses of technology.
It's not that things won't change - they can't help but change. Things are becoming more and more competitive.
Nearly every country in the world is now becoming industrialized as rapidly as it can.
Technology is moving quickly. Policy is not moving as quickly.
We do see significant signs of a slowdown, in the economy worldwide.