Commentary
If you are under the age of 40, you likely are actively engaged in building a family and building a career. You are also actively engaged in building up enough wealth so that when you hit the back nine of your life, you can retire and enjoy it. I am in the back nine of my life, so I understand where the under 40 set is at. However, thanks to technological changes, the sands have shifted a lot since I was in my twenties, thirties, and forties. The rules of the game have also changed.
It’s fairly easy to track the technological changes that affect the ability to create wealth for yourself. In the past 30 years, we have seen technological changes that rivaled the beginning of the Renaissance. If we chart the internet age, it really started with the introduction of the Netscape browser, which was introduced 28 years ago. Economists say it takes 30 years for a real innovation to be maximized into all areas of the economy, and we are there. The iPhone was introduced in 2007, ushering in the mobile revolution. Depending on your perspective, the introduction was a line extension of the browser, so mobile was maximized into the economy faster. I think we can safely assume that it hasn’t taken 30 years to drive adoption on mobile devices, especially when many areas of the world are using phones rather computers because they have cell connectivity but no internet connectivity….