> To debunk it, look around you at all the major players in tech who are hoarding cash like there is no tomorrow while doing incremental improvements to products rather than building something interesting.
Putting billions of dollars into VR/AR? Facebook acquired Oculus for >2 billion, and the project had mixed success, and Facebook is still investing more but into AR instead. Microsoft has had two versions of their AR product that are bulky and expensive, and with few users. But the 2nd generation of hardware much improved over the 1st. Apple is rumored to be developing AR glasses as well.
How about self driving cars? Google is the only company with actual driverless cars on the roads. Many startups made big promises but so far have nothing publicly available. Other large companies like Ford had previously announced their intent to develop autonomous cars, but backed out, saying the challenge is too hard. This shows that a truly large company is needed to develop autonomous cars, because billions of dollars are required for a project that carries high risk.
> Once they’re big enough, innovation is close to impossible, and the self-preservation instinct kicks in. Again, you can see that in almost all BigTech players today.
What about Amazon? Nothing could be further from the truth. They keep expanding into entirely new markets. In AWS, IoT, multiple retail stores, online video, healthcare, and probably other industries I'm forgetting.
And what about Google Stadia and Xbox game streaming? Or Facebook Libra? Or all of Google's NLP research? Project Loon? Fuchsia? Go? These are fundamentally new r&d projects.
> Your phone manufacturer doesn’t care about invention as much as they care about you buying the next, slightly better model.
Gestures broadly at 2G, 3G, 4G, LTE, and 5G Phase 1. Constantly improving display technology like OLED and transparent displays and improved cameras.