It’s interesting how the tone of innovation changes. It starts out like “hey, I can do that better than my competitors!” and that’s all fine, doing something better creating market demand and cash influx. But eventually, the innovation looks for shortcuts… enshitification is the word. Cheaper parts, smaller quantities, subscriptions to hardware you buy but never own… There’s a shift from product/service innovation as means to financial growth to purely financially incentivized innovation.
It reminds me of Marx’s idea that concentration of capital naturally leads to the prominence of financial markets, an indicator of a capitalist economy reaching its “advanced” / crisis-prone phase. The similarity being: there’s an economic shift from industrial investment as means to financial growth to purely financial investment.
It’s interesting how the tone of innovation changes. It starts out like “hey, I can do that better than my competitors!” and that’s all fine, doing something better creating market demand and cash influx. But eventually, the innovation looks for shortcuts… enshitification is the word. Cheaper parts, smaller quantities, subscriptions to hardware you buy but never own… There’s a shift from product/service innovation as means to financial growth to purely financially incentivized innovation.
It reminds me of Marx’s idea that concentration of capital naturally leads to the prominence of financial markets, an indicator of a capitalist economy reaching its “advanced” / crisis-prone phase. The similarity being: there’s an economic shift from industrial investment as means to financial growth to purely financial investment.