But what about something like the iPhone? ”I don’t consider this to be a technological breakthrough,” he tells the New Yorker. Technology simply isn’t creating enough jobs or moving the needle in areas like transportation, health, or energy.
From the article, here is his assessment on the impact of the Internet, Apple, and Twitter:
“The Internet—I think it’s a net plus, but not a big one,” he said. “Apple is an innovative company, but I think it’s mostly a design innovator.” Twitter has a lot of users, but it doesn’t employ that many Americans: “Five hundred people will have job security for the next decade, but how much value does it create for the entire economy ? It may not be enough to dramatically improve living standards in the U.S. over the next decade or two decades.”
Both Peter Thiel and Eric Schonfeld make some excellent points! I think we are in an experimental technological phase. Many things are getting tested and we might see something of real value.