The Slow Pace of Technological Innovation
The pace of technological innovation is often slow, with breakthroughs taking time to result in revolutionary change. For example, the internet emerged in the 1970s but only became widely used in the 1990s with the launch of the World Wide Web. It wasn’t until the 2000s that platforms such as Facebook and YouTube appeared, showing that even successful innovations take time to reach their full potential.
Lessons from the Dotcom Bubble
The dotcom bubble of the late 1990s and early 2000s serves as a cautionary tale for companies that attract investments without genuine technological advancement. Many companies added prefixes like “e-” and “i-” or the suffix “.com” to attract investment, despite having little connection to actual innovation. This frenzy led to ill-considered investments and the eventual burst of the bubble, as seen with the failure of WeWork and the scandal surrounding Theranos.
The Need for Mature Tech Ecosystems
Technological innovation requires time to grow and mature before it can have a profound and widespread impact. This is evident in the current fervor for artificial intelligence (AI), where there are still hurdles to overcome before widespread adoption. Businesses need to enhance data and computing power to create their own AI models, which will take time and investment.
Bill Gates’ Insight on Change
Microsoft co-founder Bill Gates’ statement that we often overestimate change in the short term but underestimate it in the long term is relevant to the development of AI. While the hurdles facing AI may be surmountable, it will likely take more time than expected to overcome them. Gates’ insight sheds light on the trajectory of AI’s development and its eventual worth.
The Potential Negative Impact of Waste Charging Scheme
The proposed waste-charging scheme in Hong Kong may have unintended consequences, particularly in the New Territories and the Islands. People may find imaginative ways to avoid the charge, leading to illegal dumping and fly-tipping. This could result in the destruction of the environment, creating mounds of garbage, and increasing the risk of disease.
Recycling as a Priority
The Hong Kong government’s waste-charging scheme comes late compared to other regions like South Korea and Taiwan. Instead of focusing on profits, the government should prioritize the recycling of waste materials to protect the environment. Implementing designated bins for recyclable waste, as done in South Korea, can help increase recycling rates and make the environment more livable.
Analyst comment
Heading 1: The Slow Pace of Technological Innovation – Neutral
Analyst’s short: The market will continue to experience gradual advancements in technology, with the potential for revolutionary breakthroughs in the future.
Heading 2: Lessons from the Dotcom Bubble – Negative
Analyst’s short: Investors should be cautious about companies that rely solely on hype and lack genuine technological advancement, as seen in the dotcom bubble.
Heading 3: The Need for Mature Tech Ecosystems – Neutral
Analyst’s short: The market will require time and investment for technological innovations like AI to reach their full potential and widespread adoption.
Heading 4: Bill Gates’ Insight on Change – Positive
Analyst’s short: Bill Gates’ insight reinforces the notion that AI’s development may take longer than expected but will ultimately have significant value.
Heading 5: The Potential Negative Impact of Waste Charging Scheme – Negative
Analyst’s short: The waste-charging scheme in Hong Kong may result in unintended consequences such as illegal dumping and environmental damage.
Heading 6: Recycling as a Priority – Positive
Analyst’s short: Focusing on recycling and implementing designated bins for recyclable waste can improve recycling rates and protect the environment in Hong Kong.
