This increasing speed is the legacy of Moore’s Law. The hardware that underpins digital technology lends itself to continual increases in power and continual decreases in price. As chips develop at exponential rates – 50 per cent or more, compounding every year for many years – they give access to unimaginable computing power, for trivial sums of money. That hyperdeflation creates ever-greater possibilities: new products that can, in turn, spread faster through our economies. The overall process is one of constant acceleration.
