2. The next category in tech. Now that smartphones have become a commodity we have often asked ourselves where the next transformative shift will come in tech. We note that historically, such shifts have accompanied revolutionary changes in the user interface with computers. From keyboard and text entry, to the mouse and the graphical user interface, to the touchscreen, each shift has meant the production of billions of new devices. We believe the first signs of the next shift are appearing in “augmented reality” devices, from Microsoft’s new HoloLens to the top-secret project being developed by Magic Leap with a generous helping of cash from Google.
3. Bitcoin is not dead. (What follows is just for your information, not yet for investment purposes.) Bitcoin prices’ periodic collapses and inhuman volatility have made the cryptocurrency drop off the radar of many investors. Bitcoin itself, although much more robust than public opinion gives it credit for, may not be the virtual currency that ultimately wins out. We see that cryptocurrencies will be a permanent and very disruptive presence in the global financial ecosystem — disintermediating banks by performing the same functions in a distributed, peer-to-peer manner. However, there are many problems that must be surmounted before cryptocurrencies come into common use.
can do well in this environment.
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