THE COSTS OF digital processing, storage and bandwidth drop about 33% per year. That’s why you can buy a 50″ flat-screen HDTV for $300 (I paid $3,000 for one in 2008, and it still works great), a laptop for $200 and several brands of smartphones for $100.
Cool as these cheap prices are, they’re not digital tech’s neatest trick in the last ten years. Hint: It’s not the iPhone, Facebook FB -0.06%, Snapchat, Uber, Airbnb or Netflix NFLX -1.10%television, either.
