The world is set to undergo significant changes in the next decade and beyond. The individual technological advancements of the past decades are set to combine and thrust forward at a speed we have not experienced in the past.
The rate of innovation will not only accelerate at rapid speed, but it will also disrupt and rewrite industries in the coming decades. From architecture and artistry to aviation and accounting, dozens of industries are set to be transformed.
As a result, investors will have a smorgasbord of opportunities to create wealth at a magnitude they have never seen before.
The driver of this change is called convergence.
You may remember Moore’s Law. Gordon Moore was the founder of Intel, and in 1965 he observed that the number of transistors on a circuit board doubled every two years, which meant that computers became twice as powerful every two years for the same cost.
Over the ensuing 58 years, computers have continuously become more powerful while costs have fallen dramatically to the point where a smartphone is a thousand times smaller, a thousand times cheaper and a million times more powerful than a supercomputer from the 1970s.
This story is from the October 2023 edition of Money Magazine Australia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 2023 edition of Money Magazine Australia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
An outrageous, beautiful monopoly
Telstra's mobile business is a cash machine with few competitors, giving it the highest returns in the world.
Drop the anchor to judge value
Buying and selling decisions should be based on where a stock price is going, not where it has been.
Powering the AI boom
Beyond the software and chipmakers, where will the energy come from?
Get into life
Tucked inside super are products that can protect you from life's inevitable uncertainties.
Paths to home ownership
Taking the road less travelled can sometimes deliver unexpected benefits.
Sold! Quick ways to add value
Small, strategic changes can have a big impact on the look and feel of your home. And get you a better price on auction day.
Money lessons the kids need to know
Your children can learn a lot from your past money mishaps. Here are eight financial conversations I have had with mine.
Property-investing rules: are they likely to change?
The pressure for the government to curb the tax benefits of tax concessions, such as negative gearing and the capital gains tax discount, is unrelenting. Most recently, independent senators David Pocock and Jacqui Lambie proposed five options for paring back investment property tax concessions, with savings to the Federal budget of up to $60 billion over the next decade.
What's love got to do with it?
A rollercoaster of emotions could be driving poor crypto behaviour.
Are we ready to be cash-free?
Saying goodbye to our piggy banks too soon could leave small businesses in the dark when problems arise.
