You can stop worrying about the financial crisis.
I have a new way to help Washington make ends meet. If we were smart, we would just close the patent office.
And why not?
After all, according to some folks, all of the great inventions have already come and gone.
So, if you thought we were still on the cusp of miraculous breakthroughs in technology that are going to change the world, think again.
Despite what you may have been reading, the technology sector is actually positively dull, folks.
In fact, using innovation to cure cancer, solve world hunger, and help humans live past the age of 100 with genius-level IQs is just plain boring. Ho-hum really.
I know this because I read all about in Forbes magazine. So it must be true… right?
Of course, I hope you'll pardon the stinging sarcasm…
But in a recent column, Rich Karlgaard of Forbes actually questioned whether the future of technology would be as bright as the past.
To be fair, Karlgaard's argument refers to a new book on the subject by a prominent college professor who claims technological progress is nowhere near where it used to be.
Or as Karlgaard argues, "doesn't quite stir the soul."
Maybe he should have talked to Barbara Campbell.
Twenty years ago, the New Yorker went blind while still in her 30s
Today, she can at least see rough shapes and enough light to make out the building she calls home. It's all courtesy of the electrodes surgeons implanted in her eyes.
They communicate wirelessly with a pair of sunglasses that sport a tiny video camera.
The LA-based developer of these "bionic eyes," Second Sight Medical Products, won approval to sell its system in Europe last year. In 2012, the privately held company hopes to finally win U.S. approval for its miraculous technology.
But whether the company goes global or not is beside the point. I predict that in as little as 20 years, human blindness will largely be a thing of the past.
And then there's the case of Matt Nagle, a Massachusetts man whose life took a turn for the worse after being paralyzed from the neck down.
To his delight, he has learned to surf the web, send emails, make a robot move its hand and play video games – all with the power of his mind.
The former star athlete became one of the first patients ever to use a groundbreaking computer interface that worked with his brain. And while Matt has since passed away, his legacy lives on as a major scientific breakthrough.
It hasn't cured paralysis but I predict that will happen in the near future with a combination of surgery and implants.
And this year, we will take another major step forward by helping wheelchair-bound patients gain new levels of independence. A startup in Berkeley, CA, called Ekso Bionics will begin selling what amounts to a robotic walking suit.
Leaving the Past in the Dust
That leads us to an obvious question…
Twenty years from now will it "stir the soul" more to watch reruns of Neil Armstrong walking on the moon or see a thousand paraplegics running the Boston Marathon?
I know where my money is.
Along the way, the market will produce hundreds of ways to invest and profit from the exciting technologies that will help take the human race to a whole new level.
In the meantime, modern science is already moving so fast we can turn tragedies into triumphs.
For instance, take the wars in Iraq and Afghanistan. Advanced body armor has saved literally thousands of lives.
What's more, many of the survivors that were left with broken bodies have benefited from a new generation of prosthetic devices that work wonders.
In fact, I recently watched a Fox News special report in which former President George W. Bush went mountain biking with a group of battered and disabled veterans. I'm in reasonably good shape but those guys with artificial limbs would have left me in the dust.
The Era of Radical Change: Moving Ahead at Warp Speed
Of course, by now I hope you'll agree that innovation is all around us and is moving at incredible speeds.
So, it troubles me to see Forbes touting the book The Great Stagnation by George Mason University professor Tyler Cowen. And while I must admit I haven't read the book I disagree with the notion that high tech has hit a plateau.
The truth is we've entered the Era of Radical Change, a period of rapid innovation that will usher in tidal wave of breakthroughs.
It is moving so fast and in so many fields at once that it will soon take a super computer to keep track of it all.
However, I will grant Forbes and Cowen this much: the nature of change has undergone a huge shift.
In the past, we were governed by dominant themes. Fire… the wheel… the printing press.
Then came the high water marks of the industrial age with the auto, mass production, air travel, and the moon shot.
Enter the information age. Today, because of rapid computer advancements, interconnected fields are moving us forward faster than most of us can understand.
From genetically modified crops to human genomics to artificial intelligence, every day brings an important new announcement.
Just this month, word came out that new a high-tech paint can be used to provide solar energy. The problem is, with only a 1% yield, it's not ready for prime time just yet.
But think of the implications. In as little as 20 years, every car, home and building could be coated with solar paint to help provide its own energy.
Also this week, we learned of a new potential fountain of youth. Researchers at the University of Pittsburgh used stem cells to make mice live dramatically longer.
But that is just the beginning…
In the future, the U.S. will send a manned mission to Mars. We will land on asteroids.
We will learn to use brain implants to cure diseases like Alzheimer's and to make humans much more intelligent. We'll learn to grow new organs to replaced diseased ones.
Humans will live longer, healthier and more intelligent lives than ever before.
And if all that sounds like plain vanilla, folks, than color me dull. Because I think the best is yet to come.
When it comes to future, Forbes has missed the mark.
In column tomorrow, I'll introduce you to 3-D computing and explain how this latest development out of Silicon Valley can boost your portfolio in the years to come. The press isn't reporting on it yet – but it represents a seismic shift that promises to move markets.
News and Related Story Links:
- Money Morning:
How the Pentagon Will Create Space Travel Profits
- Money Morning:
How the "New Cold War" with China Will Change America's Future
- Money Morning:
The "Miracle Material" That Will Change the World
About the Author
Michael A. Robinson is Defense and Tech Specialist for Money Map Press. He is a 36-year Silicon Valley veteran and one of the top technology financial analysts working today. That's because, as a consultant, senior adviser, and board member for Silicon Valley venture capital firms, Michael enjoys privileged access to pioneering CEOs, scientists, and high-profile players. And he brings this entire world of Silicon Valley "insiders" right to you...
- He was one of five people involved in early meetings for the $160 billion "cloud" computing phenomenon.
- He was there as Lee Iacocca and Roger Smith, the CEOs of Chrysler and GM, led the robotics revolution that saved the U.S. automotive industry.
- As cyber-security was becoming a focus of national security, Michael was with Dave DeWalt, the CEO of McAfee, right before Intel acquired his company for $7.8 billion.
This all means the entire world is constantly seeking Michael's insight.
In addition to being a regular guest and panelist on CNBC and Fox Business, he is also a Pulitzer Prize-nominated writer and reporter. His first book Overdrawn: The Bailout of American Savings warned people about the coming financial collapse - years before the word "bailout" became a household word.
Silicon Valley defense publications vie for his analysis. He's worked for Defense Media Network and Signal Magazine, as well as The New York Times, American Enterprise, and The Wall Street Journal.
Michael is 100% independent and receives absolutely no compensation from companies he writes about. His ideas are completely his own.
So, it probably goes without saying that you won't ever be left in the dark about breaking innovations, ahead-of-their-time technologies, and breakout companies on the cusp of changing the world once you join this world.