The experience of the last two decades of technological innovation, exemplified by Moore's law of semiconductor pricing, the exponential growth of computing power at constant cost, and the manufacturing, product cycle, and investment consequences of the replacement of machinery with software, bear witness to the power of technological leverage, the rewards that accrue to those who employ it to their benefit, and the risks to those who ignore it. Debt leverage carries with it the risk of bankruptcy.
Technological leverage bears the risk of obsolescence.
Those who profit by technological leverage are running on a treadmill whose speed increases as technology advances. To fall behind is to be cast out of the game with little hope of re-entering as the pace continues to accelerate.