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From Steam to Silicon: Patterns of Technological Revolutions
From agriculture to AI, each major economic revolution is driven by a new kind of value conversion: a way of transforming one type of value into another.
Spatiotemporal compression: tools that shrink the cost of distance or time in the economy by i) increasing connectivity, ii) reducing the latency of interactions, or iii) expanding the scale or speed of economic coordination. promises (of future payments)capitalstate-chartered banks and stock exchanges → bond markets and merchant credit networks bookkeeping codified commercial law pooled risk mainframes → PCsdigital protocols (e.g. TCP/IP, APIs)Networked computing enables intelligent autonomous systems (IR4)IR4 (2010–present)information → actionAI mobile internet (4G+)(I)IoT
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