• James Bessen - Understanding the Tech Paradigm

  • May 31 2024
  • Durée: 46 min
  • Podcast

Page de couverture de James Bessen - Understanding the Tech Paradigm

James Bessen - Understanding the Tech Paradigm

  • Résumé

  • In the third episode of Season 10, hosts Tano Santos and Michael Mauboussin speak with James Bessen, Executive Director of the Technology and Policy Research Initiative at Boston University. Delving into the intricacies of technological advancement and market dynamics, Bessen shares his insights on the evolving landscape of competition and innovation. The discussion highlights the impact of proprietary software on industry disruption, exploring the significant shift from mass production to mass customization facilitated by technology. This episode not only provides a deep dive into the challenges and opportunities presented by the digital age but also prompts a reflection on the future of value investing in a tech-dominated world and so much more! Key Topics: Welcome to Season 10 of Value Investing with Legends (0:20)Exploring the concept of barriers to entry in value investing (1:05)James Bessen discusses technology's economic impact (3:15)Analysis of the decline in economic disruption despite technological growth (5:10)Impact of proprietary software on industry stability and market concentration (6:35)Historical perspective on technology's influence on the economy (8:25)The role of proprietary software in shaping competitive dynamics (10:30)The transition from mass production to mass customization in retail (12:05)Walmart’s evolution and strategy in retail sector dynamics (14:20)Discussion on the concept of skill premium and technological advancements (24:55)Artificial intelligence’s influence on market dynamics and job skills (26:10)Examining the pace and implications of innovation diffusion (31:00)Regulatory challenges and tech dominance in the market (34:10)Concentration of innovation and its economic implications (36:20)James’ book recommendations (43:10)And much more! Mentioned in this Episode: The New Goliaths: How Corporations Use Software to Dominate Industries, Kill Innovation, and Undermine Regulation by James Bessen Learning by Doing: The Real Connection between Innovation, Wages, and Wealth by James Bessen The Great Reversal: How America Gave Up on Free Markets by Thomas Philippon The Lever of Riches: Technological Creativity and Economic Progress by Joel Mokyr Worldly Philosopher: The Odyssey of Albert O. Hirschman by Jeremy Adelman Thanks for Listening! Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at valueinvesting@gsb.columbia.edu. Follow the Heilbrunn Center on social media on Instagram, LinkedIn, and more!
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