Something similar will happen with AI: Knowledge-intensive services will get cheaper, allowing consumers to buy more of them, while services that require person-to-person interaction will get more expensive, taking up a greater percentage of household spending. This points to obvious opportunities in both. But the big news is that most of the new... See more

These sectors include professional services, healthcare, education, financial services, and creative services, which together account for between a third and a half of global GDP and have not seen much increased productivity from automation. A

By 1983, there were more than 70 companies competing in the disk drive sector alone, and valuations collapsed. There were plenty of people whose fortunes were established in the 1970s and 1980s, and many VCs made their names in that era. But the biggest advantage to being an irruption-stage investor was building institutional knowledge to invest... See more