Transformative and core technologies go through four stages. The first innovative stage is when the core technology exists but the technologist is trying to perfect it and develop a business around it. The second stage is a working product that evolves in unexpected directions and dramatically increases productivity. The third stage is a mature, enormously useful product that still changes and produces new business models but not at the rate it had in the second stage. Productivity growth from the technology begins to fade. In the fourth stage, the technology continues to be important but
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