Patrick Donohoe and David Torsak sit down to talk about understanding the principles of wealth and the revolution of technology. They discuss the influence that technology has on wealth and how it changes our control.
They discuss how human beings are imperfect, and we are always coming up with new ways to avoid making the same mistake, or learning from others mistakes. There are always improvements to be made and technology can assist in those improvements and changes. Technology is a disruption and will shake things up for companies. The companies that adapt will be successful, but the ones who can’t will fail or go out of business.
They talk about how education is being too disrupted by technology because of the vast amount of information that is available. The dynamics of the education relationship between teacher and student are changing. Education is being viewed differently and as a result the way people are taught is also changing.
They finish by warning against the dangers of allowing these technological disruptions aid you in making rash judgments. It’s more important ever to be extra cautious, and make sound financial judgements.