 | If a new technology succeeds, the commercial benefits accrue largely to the producers, not to the buyers, of that technology. |
| | People who promote the virtues of a new technology typically fail to consider that the old technology that is currently in use continues to be improved, often substantially. |
| | Investors are unlikely to invest substantial amounts of capital in a company whose own managers are skeptical about the commercial prospects of a new technology they are developing. |
| | The potential buyers for not-yet-available technologies can seldom be reliably identified. |
| | The developers of a new technology are generally no better positioned than its potential buyers to gauge how rapidly the new technology can be efficiently mass-produced. |
