Technology Evolution & Trends - The tech industry has evolved from wired to wireless, exemplified by innovations like the Mac, iPod, and iPhone, enabling constant connectivity [2] - Streaming services gained prominence in 2007 with Netflix, offering both DVD rentals and online streaming [2] - Social media evolved significantly, with Facebook emerging as a key platform and later pivoting to Meta in 2021 [3] - AI is considered the most important and dramatic technology innovation, with potential societal impacts that are difficult to predict within the next decade [25][26] AI & Quantum Computing - By 2029, IBM anticipates that corporations will have access to useful quantum computers capable of solving real-world problems [5] - AI is being used to build companies without people, such as an AI bank, and is showing promise in areas like drug discovery [11] - Quantum computers are not general-purpose but can be used in conjunction with general-purpose systems to solve complex problems [13][14] Telecom Industry Dynamics - The bursting of the telecom bubble in the late 1990s had significant consequences, including job losses and a potential recession, leading to aggressive interest rate cuts by the Federal Reserve [16] - Overbuilding of telecom capacity during the dot-com era led to a massive excess capacity, which ultimately benefited the tech economy by lowering connectivity costs [17][20] - The industry is potentially experiencing another fiber optic bubble with Fiber to the Home (FTTH) overbuilding by major companies and private equity firms [24] - The excess capacity created during the telecom bubble enabled the rise of companies like Netflix, which capitalized on essentially free transport to build a dominant entertainment business [22]