Health care and education, in my view, are next up for fundamental software-based transformation. My venture capital firm is backing aggressive start-ups in both of these gigantic and critical industries. We believe both of these industries, which historically have been highly resistant to entrepreneurial change, are primed for tipping by great new software-centric entrepreneurs.
many people in the U.S. and around the world lack the education and skills required to participate in the great new companies coming out of the software revolution. This is a tragedy since every company I work with is absolutely starved for talent. Qualified software engineers, managers, marketers and salespeople in Silicon Valley can rack up dozens of high-paying, high-upside job offers any time they want, while national unemployment and underemployment is sky high. This problem is even worse than it looks because many workers in existing industries will be stranded on the wrong side of software-based disruption and may never be able to work in their fields again. There's no way through this problem other than education, and we have a long way to go.
Read the whole essay. There is no great stagnation. In my view, there is a profound transformation, and it is reducing costs in many industries. It changes the relative value of various skills. It generates very new patterns of sustainable specialization and trade (PSST). And it is taking a while to play out. The future is not evenly distributed, as the saying goes.
This year, in my high school classes, I will try to experiment as much as possible with computer-based content delivery. For about $300, I obtained the technology that Salman Khan uses for his lectures, and I have started to make up my own. I am starting with my AP statistics class, but at some point I will do economics. I need to re-work the first videos that I made, but you can watch this one. Constructive suggestions welcome.