As an investor trying to think where the growth comes from next, I think you can really reduce it to a simple question:

If you want to see sustained 5% GDP growth, is the goal to make more things move around on little computer screens? Have more people typing on keyboards?

Or do you think moving mountains, mining, rocketships, aircraft, and smashing atoms together is the way to get there?

I believe that once you’ve found the answer to this, you see where the trend is going and what’s next. One of the more repeatable lines that seems to be picking up steam is: Atoms over bits.