Eric Janszen does a masterful job articulating the conditions needed for a massive innovation bubble. His article is required reading for any entrepreneur looking change the world. The move away form oil will be as big as the transformation from animal power to steam, or transformation from steam to oil.
The Tulips Bubble of 1637 is the classic example of an asset bubble. More recently the assets of real-estate, oil, and gold have all had their bubbles. I believe asset bubbles are a natural occurrence given our collective human nature. (I wonder if algometric trading amplifies or dampens our human propensity for froth and panic.)
But innovation bubbles are a different organism. Innovation bubbles are the markets (our collective intelligence) realization that technological change is afoot. Canals and Railroads are the classic example form the 1800. More recent examples include Radio, Automobiles, TV, and the Internet. Fortunes will be made and lost, but in the wake of the bubble a new technology will have taken root.
I can’t wait to see what technologies replace oil and coal, and even more so; I can’t wait to see what entrepreneurs make it happen. Will it be microbiologist hackers modifying algae to produce cheep fuel? Maybe nanotechnologists will invent cheep solar cells that are super efficient. Perhaps some grad student is about to drop out of college to commercialize his ultra-capacitor thus ending the need for batteries.
Moving away from oil will take dozens of new inventions and business models; I am just glad Eric Janszen gives us a roadmap.
I read the article on Alternate energy. It is very informative and useful.
Thanks
Jane
Posted by: Heartland Energy Development Corporation | March 13, 2009 at 02:48 PM