One megatrend that has played out over and over again for centuries is the replacement of labor by automated machine processes. This has happened in agriculture, manufacturing, and the service industry. Though many of the positions that have been made redundant are considered low-skill, there are many supposedly safe, high-skill jobs which could easily be automated or outsourced under the right circumstances. Which tech stocks stand to benefit from such changes? Are any of them trading at reasonable valuations?
How Disruptive Changes Happen
Disruptive technologies can exploit economic opportunities when the following societal barriers are broken down together: cultural barriers, legal & regulatory barriers, and technological barriers. Believe it or not, these are listed in descending resistance to change since cultural barriers are the hardest to break down and technological barriers are the easiest to break down.
This may seem counterintuitive, but it will become obvious after considering some well-known
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