Financial TimesFinancial Times

A new technology boom is at hand

By Rana Foroohar

27 Mar 2023 · 3 min read

Conventional wisdom tells us the tech boom is over. But the FT's Rana Foroohar argues we are entering a new golden age of innovation that will transform industrial sectors—and with it economies.

Curated by informed

Conventional wisdom tells us the technology boom is over. The collapse of Silicon Valley Bank has sent a chill through the investment community, and the tech sector has seen a correction as interest rates have risen. But I’d argue we may be about to enter a new golden age of technological innovation and investment. The difference is that this time around, it won’t be about consumers, but industry.

Three-quarters of the world’s $100tn in gross domestic product is made up of traditional legacy industries — such as manufacturing, transportation, logistics and healthcare — that have yet to be deeply transformed by technology. That’s now changing, as part of what venture capitalist Greg Reichow, a partner at Eclipse Ventures, a Palo Alto firm that has $3.8bn invested in the digital transformation of physical industries, calls “industrial evolution”.

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