Robots automate. Bicycles accelerate. Which best describes your market offering? In conventional economic wisdom, the role of technology is to enhance productivity: machines allow us to create more output with less labor. Closer to the ground, we can see two ways this productivity manifests. One mechanism is the (near-)complete replacement of variable labor. These are the presses, looms, and robots that comprise the modern factory. These machines often require some human staffing, but the necessary skill sets are not the same ones replaced by the machine - much artisanal craft is eliminated.
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Robots and Bicycles
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Robots automate. Bicycles accelerate. Which best describes your market offering? In conventional economic wisdom, the role of technology is to enhance productivity: machines allow us to create more output with less labor. Closer to the ground, we can see two ways this productivity manifests. One mechanism is the (near-)complete replacement of variable labor. These are the presses, looms, and robots that comprise the modern factory. These machines often require some human staffing, but the necessary skill sets are not the same ones replaced by the machine - much artisanal craft is eliminated.