Apr 30, 2019 - Sachin Bansal invests ₹20 crore debt in startup Milkbasket

From the Editor's Desk

The Dawn of the Reliance Economy

Your attention was never the endgame

Despite the way we position it, technology is no longer a tool to solve problems; it has been twisted into a tool to grow profits. Capitalism isn't geared to solve problems. If a company truly solved a problem, it would put itself out of business. Instead, the system is geared to keep consumers perpetually in need. For every solution we create, we have to manufacture a new problem. One way we do this is through planned obsolescence: intentionally designing things to have a short lifespan, which drives frequent upgrade cycles. This is the reason Apple releases a new iPhone every year and stops supporting older versions. This is also the reason that the average appliance now lasts about eight years, and why the fashion industry pushes seasonal trends.
,br> But planned obsolescence isn't the most powerful problem a company can generate. The most powerful problem a company can create is the "I can't live without it" problem. If a product replaces a human skill, we become reliant on it, and making us reliant is the ultimate long-term growth strategy. Monopolization isn't just about pushing out the competition. It's about monopolizing human capability.

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