Dr. Malmgren Informs (CONT’D FROM PAGE 26)
customers,” suggesting to her audience of box makers that this is really a great thing because the money is going everywhere, not only Silicon Valley. Dr Malmgren said that Austin, Texas is the new Silicon Valley. And so is Detroit and Nashville and Charlotte. But it’s also booming places like Nairobi and Lisbon and many other places where cap- ital is moving, which means a lot more innovation and a better future for all involved. Additionally, Dr. Malmgren noted, people both young and old are using Zoom to create value in ways thay hav- en’t before and they’re doing it with a mobile phone, which by the way, contains more computational power than we needed to get a human being to the moon! “NASA could only have dreamed of this power back in the 1960s and now everyone has one in their pocket,” she said. “There are those who know how to use it and those who don’t, but somebody does and we can count on the innovation coming from that.” Then came the “buckle your seat belt" moment. Dr Malmgren said there are innovations happening at the cutting edge of the world economy that she thinks will cre- ate a world where we don’t have to worry so much about whether the earth is going to be protected: the Moonshot. We are about to go back to the moon. Humanity is about to leap back into space. Why are we bothering to spend money on space? The answer is that there are many space-based solutions to
and the new wave of entrepreneurs don’t behave likethe old ones. People over 55, who are the are the fastest growing component of the labor market in most industri- alized countries, are bringing the skills learned over a life- time back into the economy again. So, it’s not just young entrepreneurs driving innovation and instead of working for one employer, they are working for many. They have multiple income streams. If something goes wrong with one revenue stream, there is another to replace it. And not everything is focused on Silicon Valley. Dr. Malmgren said there is a realization that the world is not only about software and Silicon Valley. (It didn’t want to touch manufacturing because that went to China.) But now Silicon Valley is realizing it has to build things again because when supply chains are shortened, manufactur- ing comes back, which means, she said, “Stuff is going to have to go in boxes, a lot of them. And this has created a new category of what is going in those boxes. It used to be we had hardware and software but now it seems that everything is a combination of the two. It’s the interface between the hardware and the software where the value lies and where the revenue models work. There is no word for this yet so I invented one. I call it ‘shardware.’” Peripherally, investors have stopped looking for “uni- corns,” they are now looking for “workhorses,” companies that “generates genuine, unimpaired cash flow from real
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July 17, 2023
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