Once upon a time, the word “technology” might have been applied to something such as a new design element that reduces frictional losses in a gear set. Today, the word is often shortened to “tech” and it typically means: finding new ways to insert a layer of fussiness into some aspect of life that is not yet subject to
Matthew Crawfordfussiness“optimization”, and then collecting rents from the friction this introduces.
What is “Tech?”
Christian Leithart 