In just 50 years, the microprocessor technology experienced a 100-billion-fold improvement, right on schedule for Moore's Law.
Here’s a quote from Moore himself I absolutely love that captures the significance of this trend:
“If the auto industry advanced as rapidly as the semiconductor industry, a Rolls Royce would get half a million miles per gallon, and it would be cheaper to throw it away than to park it.”
This is what is happening all around us. Always has, always will. Different rates for different times.
But the fact remains markets are always deflationary. And it is great, it is a blessing. Things get cheaper.
This in contrast to what we learn with economics one-on-one that it is good to have steady inflation (of around 2%). Why would you want inflation? Why would you want someone to dilute your glass of wine. It is your toil, it is your glass of wine.
The image was created with AI to illustrate the next wave coming.