An important point to think about, but ultimately wrong I think.
The reason that the software industry is so valuable today is not just that it's innovative, it's also that it can grow in a way that isn't strongly constrained by material.
The material required to provide one dollar of value in digital goods or services is very little.
This leads to a virtuous circle, since business unconstrained by material attracts more capital.
Basically, we can shift the physical economy to a circular cradle-to-cradle economy, and then continue getting growth from digital goods and services.
Note that this does not simply mean we'll all be living in VR - digital goods and services are growing across all industries.
For example, back in the day, drugs were discovered by massive wet lab experimentation programs. Today, increasingly components of a drug discovery program can be done in silico.
The reason that the software industry is so valuable today is not just that it's innovative, it's also that it can grow in a way that isn't strongly constrained by material.
The material required to provide one dollar of value in digital goods or services is very little.
This leads to a virtuous circle, since business unconstrained by material attracts more capital.
Basically, we can shift the physical economy to a circular cradle-to-cradle economy, and then continue getting growth from digital goods and services.
Note that this does not simply mean we'll all be living in VR - digital goods and services are growing across all industries.
For example, back in the day, drugs were discovered by massive wet lab experimentation programs. Today, increasingly components of a drug discovery program can be done in silico.