The Technology Sector Continues to Dominate the Global Marketplace
As I’ve mentioned, my colleague Fritz Maffry is quite certain that the tech industry will lead our civilization to a good place. I agree; in fact, that was one of the chapters in my most recent book, Bullish on Renewable Energy. I.e., one of the reasons to be bullish on clean tech generally is that the hugely successful captains of the tech sector are not going to sit around and watch this civilization destroy itself with its short-sighted greed and indifference to the well-being of future generations.
Fritz submits this concise little note: The Magic Six are now spitting distance from (combined market cap of) $2.5 trillion.
| TSLA | 202.77 | +2.68 (1.34%) | 30.37B |
| GOOG | 812.46 | +13.09 (1.64%) | 567.02B |
| AAPL | 117.39 | +0.79 (0.68%) | 630.09B |
| AMZN | 834.66 | +15.67 (1.91%) | 395.69B |
| MSFT | 60.90 | +1.24 (2.07%) | 493.41B |
| FB | 133.15 | +1.08 (0.82%) | 382.36B |
Now weighing in at $2.4984 Trillion, yes with a “T.” Watch what happens when the public sees working autonomous vehicles.
If autonomous vehicles become successful, it means that people will no longer become immobilized from age. Also, people with physical and other limitations which prevent them from driving will no longer be disadvantaged. It will no longer be necessary to own a car which is sitting idle most of the time. It could revolutionize the way we do routine shopping. Groceries could be ordered over the Internet, automatically be loaded into a delivery vehicle, and delivered. The carrying capacity of roads could be increased if autonomous vehicles safely permit closer following distances and narrower lanes.
It is too early to know all the changes which could occur with autonomous vehicles.
Graig,
While I’m always delighted to encourage your praise for “Captains of Industry”, and generally endorse your bullish stance on new clean tech, it must be remembered not all investment is wisely conceived.
Too much of the new tech funding is attracted by overly generous or ill-conceived government policy initiatives. Often these policies have been announced with little thought or planning for practical commercialization and integration after the initial phase.
Private investment floods in, soaking up the government incentives and guarantees, only to insist on ongoing support after the initial period. This situation often forces governments into supporting these new industries for fear of political ramifications and shielding the technologies flaws and disadvantages.
Other whole solution technologies morph into component technology as major corporations shy away from huge unsubsidized development costs. (Google is a good example. Google has abandoned the idea of building an EV, instead concentrating on self-drive tech).
Being a cynic, I suspect that while most Captains of New Tech may look a bit more hip that the traditional image, they are motivated more by the rewards of corporate success that saving the planet !