Because new technology is as Thiel often quips limited to the world of bits rather than the world of atoms. Paul Krugman once asked, if you go into an average house right now and you take out all the screens, could you tell that you're not in the 80s? Gordon in the Rise and Fall of American Growth gives a similar example, what if you went into a time capsule between say 1890 and 1950 compared to 1960 and 2010? In one…
> if you go into an average house right now and you take out all the screens, could you tell that you're not in the 80s? Yes. Even the cheapest house built to code will be noticeably better than one from 1980s. The quality of materials, technology of materials, wiring, plumbing, flooring, insulation, etc will all be better. > The difference between a car right now and a car 30 years ago is that you can now play angry…
This is definitely not true. Old houses have solid lumber, new ones are lightweight softwoods. Copper pipes replaced with plastic. Maybe Marble kitchens are nicer? More energy efficient is likely. Certainly 30 something families can't afford big suburban houses like their parents/grandparents.