Is the 21st century the age of information technology, or the age of addiction?

[FourCrossedWands]

I have read an interesting argument for why the US stock market is growing exponentially since 2008, which never happened before in that degree.

Someone said it's because of the exponential growth in the tech sector which never happen before. Then there was a counter-argument that it has happened many times in the history of mankind.

• 18th century - the age of shipping
• 19th century - the age of transportation
• 20th century - the age of oil

So, by that logic, the 21th century is the age of information technology.

There are like 5-7 companies that are by far the most profitable companies in the world and all are in the tech sector. But, why is that? Why is like 50-75% of the global economy situated in the tech sector?

Most people would say "because the information technology helps us solve everyday problems, it is the main reason of all the innovation" but is that really truth? What global problems has Apple, Facebook, or Netflix solved?

Let's face the truth:

Every single one of us, including Leo is a technology addict.

Therefore, I would say that the 21th century is not the age of technology and innovation, but the age of addiction.

 

[Leo Gura]

Mankind have been "technology addicts" since 300,000 years ago. Man basically cannot survive without technology.

Calling it an addiction misses the depth of the issue.

Apple, Facebook, Netflix solve many real-world problems. Contemplate their function in survival.

Digital tech does indeed grow faster than other kinds of tech because software is easier to upgrade than hardware, and software transcends physical limits. Sharing a digital video course with every child in the world is like 100000x more efficient than printing and shipping hard copies. That's highly valuable.

Edited 11 hours ago by Leo Gura

[FourCrossedWands]

I would agree that information technology has some huge benefits but let's be real. The true age of information technology is long gone.

It was back in the late 90s and early 2000s when kids were genuinely interested in searching for good sources of information on the internet. There were lots on personal blogs and forums to be found and everyone was truly amazed by the power of internet.

Nowadays it's just social networks and mass media consumption... and lots of advertisisement.

[Leo Gura]

4 minutes ago, FourCrossedWands said:

when kids were genuinely interested in searching for good sources of information on the internet.

Don't kid yourself.

That wasn't ever a thing.

[Princess Arabia]

2 hours ago, Leo Gura said:

Mankind have been "technology addicts" since 300,000 years ago.

Could you please expand on this statement. It is confusing to me since technology, at least modern tech, hasn't been around that long. If you even look at the black and white movies cell phones, internet and all the other stuff we see today weren't even around back then. I'm a bit confused by this.

Edited 9 hours ago by Princess Arabia

[Leo Gura]

11 minutes ago, Princess Arabia said:

Could you please expand on this statement. It is confusing to me since technology, at least modern tech, hasn't been around that long. If you even look at the black and white movies cell phones, internet and all the other stuff we see today weren't even around back then. I'm a bit confused by this.

Because your notion of technology is too limited.

Watch all the videos on this channel to understand what technology is:

The technology of stone and fire is actually older than mankind. The only reason mankind exists as a species is thanks to that technology. So this is a profound thing.

Edited 9 hours ago by Leo Gura

[Princess Arabia]

1 hour ago, Leo Gura said:

Because your notion of technology is too limited.

Watch all the videos on this channel to understand what technology is:

The technology of stone and fire is actually older than mankind. The only reason mankind exists as a species is thanks to that technology. So this is a profound thing.

Ok. I see what you mean by technology. It's a misunderstanding on my part not so much limitation. 

[FourCrossedWands]

@Leo Gura What I am trying to say is that the tech stock sector has always been considered too risky and not very predictable.

This is the first time a lot of investors and financial advisors are recommending the IT sector as a safe haven and a hedge against a recession.

It is being compared to the alcohol and tobacco industry, which has also performed relatively well during a recession due to people being addicted to the product.

[Davino]

@Princess Arabia Animals also use tools, this is the primitive origins of tech.

If you keep following the thread you may end up with a computer.

[Davino]

24 minutes ago, FourCrossedWands said:

This is the first time a lot of investors and financial advisors are recommending the IT sector as a safe haven and a hedge against a recession.

Even tech stocks did pretty good in the global pandemic.

I wouldn't narrow it all down to people being addicted, money is the reason why they foment addiction. I would say the human is fascinated by what it can craft and such pursuit is being done by its own sake at this point. These CEOs don't even know where AI is heading but curiosity and a global obsession is feeding the machine non stop.

Values also play a role, because where value and attention goes money flows. I've been contemplating these weeks about what stage green capitalism would look like.

 

Edited 7 hours ago by Davino

[Leo Gura]

Tech stocks are one of the best investments there is. Just need the quality ones.

[Princess Arabia]

So, pretty much, a tool is a technology. 

[FourCrossedWands]

It would be an interesting experiment to take a group of people and let them choose from one of these options:

• 1 day without food
• 1 day without technology

I think the result would be very close to 50:50.

Edited 6 hours ago by FourCrossedWands

[Natasha Tori Maru]

It's the age of human kind learning to, finally, manage technology.

Technology will destroy us unless we learn to wield it properly.

We are in its death-grip right now

We are arrogant, stupid fucks, to think we have any control