I’ve just read an article in The Guardian by Larry Elliott on the Industrial Revolution 4.0. It touches on my not-terribly-serious bemusement yesterday at the young men so obsessed with developing an app that is only marginally different from ones that are already on the market. You don’t need capital to dream up an app; you have minimal labour costs; you require no storage or transport for your product; and if it is successful you incur hardly any extra cost as the number of users increases. All that and you can have a coffee and croissant while you’re developing it. What’s not to like?
The little matter of such a future not providing the type of employment and wage economy that we’ve grown used to in the last 200 years is being kicked into the long grass.
To remind me: Industrial Revolution 1.0 is the one we did in school; 2.0 was in the late 19th century and fuelled by electricity; 3.0 was based on digital technology; and 4.0 is the one that ends with the Terminator scenario.