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> It feels like we need to wait for the underlying technology to advance before we can get to the next set of interesting products.

I think it shows a lack of creativity to say this, because existing technologies can definitely be used in novel ways to create value. Perhaps we just love to imagine new technologies as engineers.

But for example, the iPhone was nothing "new" in terms of hard tech but it definitely changed the world.

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Even if that is the case, it is more of a commentary on how companies have overall failed to come up with anything creative for quite a few years. All of the products that are the "next big thing" currently are hampered by the current state of technologies that they use.

The iPhone is a great example of technology catching up to make a product viable. Between phone networks, display technology (especially touchscreens), SoC efficiency, etc. the iPhone only became possible when these could integrate together in a practical package along with the vision to bring it to market.

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