Financial Education: Do Not Go All In On New Technology
(Edited)
It is easy to fall in love with technology. We come across something that is going to be revolutionary and totally change the world. This happens all the time. There are issues with this though.
In this video I discuss how technology is always a matter of timing. We often see the right tech but at the wrong time. This causes investors often to lose their money. Hence, it is vital to look at new technologies with a bit of skepticism before jumping in. Is the timing right for this technology to succeed? That is the first question. Then we can begin to take a look at the company.
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STOPThe algae research is interesting but you are probably correct about going all in. It is all about risk and most of the time, even wall street only goes in after it proves itself.
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Summary:
In this video, Task discusses the importance of timing when investing in technology. He emphasizes that while new technologies may seem promising, it's crucial to consider the timing of their implementation. Task highlights examples such as algae-based fuels, virtual reality, augmented reality, renewable energy, and biotech, where despite initial hype, investments failed due to poor timing. He contrasts this with the success story of Netflix, which revolutionized the streaming industry due to its well-timed innovation.
Detailed Article:
Task begins the video by stressing the significance of technology in our investing and daily lives, especially in the current technological era. He points out that while new technologies often appear to be the future, one crucial factor that must not be overlooked is timing. Task explains that being correct about a technology is not sufficient if the timing is off, as this can lead to failed investments. He gives an example from around eight or nine years ago when algae-based fuels were touted as the next big thing. Despite promising research and development, the technology did not scale effectively, resulting in failed investments.
The discussion extends to other technologies like virtual reality, augmented reality, renewable energy, and biotech, all of which had periods of hype but failed to deliver as anticipated due to timing issues. Task mentions the case of Snapchat being promoted as an augmented reality play but clarifies that it did not align with the expected technology. He also warns against the dangers of investing all at once in the latest hyped technology, citing the uncertainty that surrounds their success, as illustrated by the algae-based fuels example.
In contrast, Task highlights the success of Netflix, emphasizing its revolutionary impact on the streaming industry. He points out how Netflix's well-timed entry into the market disrupted traditional distribution platforms like Blockbuster and took competitors a significant amount of time to catch up, if at all.
In conclusion, Task encourages viewers to exercise caution and not jump into investments solely based on hype surrounding new technologies. He advises maintaining awareness of the timing factor and being mindful of the potential risks involved, as seen in cases like algae-based fuels. Task's insights aim to educate viewers on the importance of strategic timing in technology investments, using real-world examples to underscore the significance of this consideration.