Over the Christmas holiday my dad told me stories from decades ago of Mississippi farmers moving to Michigan to get jobs in the auto industry. The agriculture industry still remained, but many moved to Michigan pursuing good jobs and opportunity. Large auto companies were booming there, and the workers went to where the work was located. Success in the US comes not from our ability to keep things the same. Our legacy of success comes from our ability to change.
The American economy is the story of inventing the new thing, growing the new thing, maintaining it, and letting it die. In our rush to prop up and re-organize current valuable industries, let’s not forget to make sure we keep a free and open society and a infrastructure that facilitates the creation of what is next. The next big industries are small now. Some of the next big companies are on the back of napkins right now. So, what’s next?