Don’t let the title fool you. We are not making a figurative prediction saying that volatility is a thing of the past or that uncertainty has been eliminated. That’s clearly not true. Rather, this blog-post title is quite literal.
We have an ongoing conversation in our office about how technology changes business models and how industries adapt to the change. We discuss past breakthroughs and trends of automation & globalization, individual levels of customization, technology adoption rates & the presumed economies of scale. We also have a great deal of fun speculating about the next business model to undergo drastic change, with continuing conversations about driverless vehicles, energy production and storage, mainstream virtual reality, sophisticated 3D printing, and other transformational technology.
During one of these sessions, we had to turn down the volume of Rick Santelli on CNBC. If you’re not familiar, Rick Santelli has a lot of energy and enthusiasm and can often be seen gesticulating wildly and breathlessly yelling at the camera to get his point across. It occurred to us then that Mr. Santelli is himself an anachronism from when people had to yell to be heard on the trading floor or futures pit. The other CNBC anchors stationed at the stock exchange don’t seem to have any problem reporting information. It just doesn’t seem necessary to yell over a whiteboard, push in a wide angle camera, close up to inject energy and intensity into the shot. Securities trading is done over computers and it’s always pretty sedate on the trading floor: It’s just an atavism or a working museum - there for show and not much else. There are more honorary guests invited to ring the opening and closing bell then there are specialists on the floor to facilitate trading. We expect to see a quieter future of financial reporting.