Outlawed Everything to Do With Stuff

July 24th, 2012

Peter Thiel offers his explanation for stagnation:

So, I think we’ve basically outlawed everything having to do with the world of stuff, and the only thing you’re allowed to do is in the world of bits. And that’s why we’ve had a lot of progress in computers and finance. Those were the two areas where there was enormous innovation in the last 40 years.  It looks like finance is in the process of getting outlawed. So, the only thing left at this point will be computers and if you’re a computer that’s good.

This is from a discussion (loosely used) between Thiel and Eric Schmidt at Fortune Brainstorm Tech earlier this month. Fascinating to read.