The next BIG thing of course.
When you consider the history of economic boom and bust cycles for the past 150 years, you have to consider what the primary movers were and the byproducts they created.
We can start with the Industrial Revolution then Electricity and then the current innovation cycle we are in, the Integrated Circuit.
It brought us the logic processor, Moore's Law, PC's, the Internet, Smart Phones and lots of software but it's all based on the core innovation. As with all previous innovations each successive one has been met with a shortened life cycle and the commoditization of virtually everything that is produced. And this is happening faster all the time.
The Fed and buying time to the next Big thing.
From where I sit, I can only see a few things on the horizon that show any promise.
Alternative Energy, not economically viable but worth pursuing. BTW, I think the Feds put way too much hope into this.
Nanotechnology, but more specifically, material science. Potentially the most impactful, but not quite there yet.
Genetics, gene therapy and life extension is getting closer but it's economic value is wholly different than the others.
There may be other potential "game changers" and I would love to hear about them.
Soo, here's the deal when it comes to the money. There is an extraordinary amount of money available that is ready and willing to jump into almost anything that shows promise. All with risk of course, but ready, none the less. The Feds have successfully created a monetary policy that would and does encourage investment but, here to for, those investments haven't found anything that is anything more than another extension of what is already there.
You must understand that "If" and "when" that truly revolutionary innovation presents itself, the money will flood into it soo fast it will make your head spin.
And it will be like going from the horse to a car.