The key to faster progress is increased desire for more. That’s my theory, at least.
In all the commentary on the “Great Stagnation”, much is written about the lack of progress in tech areas like transportation. Commercial airplane speeds, for example, have decreased on average since the ‘70s:
Since 1973, airplane manufacturers have innovated on margins other than speed, and as a result, commercial flight is safer and cheaper than it was 40 years ago. But commercial flight isn’t any faster—in fact, today’s flights travel at less than half the Concorde’s speed. (Airplane Speeds Have Stagnated for 40 Years, by Eli Dourado and Michael Kotrous.)
There are clearly many contributors to this. Regulation is cited in the above post and seems to be most common reason mentioned. Rising energy costs is another major one. The less-talked-about contributor is consumer demand.
Most things are “good enough”
Clayton Christensen’s theory on disruptive innovation shows that as average performance demanded goes up, the performance level supplied by products generally goes up faster, eventually surpassing the majority of the market.
As a technology improves, its performance surpasses most market demand, and things became “good enough” over time. Customers aren’t willing to pay more for better performance. This leaves the market open for disruptors — either on the low-end (good enough performance but cheaper), or by having better performance on a completely different metric.
Back to airline travel. Flying from NYC to LAX in 6 hours became good enough for most people. Sure, less would be better, but not at much more cost. Only high end, richer users truly needed more. So airplane makers moved on to other attributes that weren’t good enough: safety, flexibility, price.Continue reading “To Increase Progress, Increase Desire”