America 2.0: The Fourth Industrial Revolution
What is America 2.0?
Paul Mampilly coined the term America 2.0 to describe a new economic and manufacturing boom that is being driven by a variety of next-generation technological innovations, industrial upgrades and consumer trends.
It adds up to what Mampilly describes as a Fourth Industrial Revolution that will remake the world we live in and the U.S. manufacturing sector. The mega trends driving America 2.0 are creating a whole new-world economy that is leaving old-world industries, manufacturers and traditional businesses behind.
Collectively, they add up to the greatest tech revolution in modern history — a new American manufacturing renaissance.
What’s driving America 2.0?
America 2.0 has two key drivers:
- A handful of mega trends tied to new technological innovations that are revamping a host of industries — including manufacturing, retail, health care, entertainment, housing and media — and driving new lifestyle and consumer trends with new ways of doing things that are cheaper, better and more effective.
- The 92 million tech-savvy American millennials who are leading the way, by embracing these new technologies and mega trends — and spending billions of dollars to back them.
In addition, America 2.0 is being fueled by something Mampilly calls “Economic Velocity,” which is driven by the confluence of three catalysts:
- The first is the Demographic Catalyst. This is when a massive group of people — like the nation’s 92 million millennials — boost the economy by spending money.
- The second is the Capital Catalyst. This is when our government fuels the economy with pro-business policies by slashing taxes, cutting interest rates or unwinding regulation, which is what we are experience right now in our nation’s history.
- The third is the Innovation Catalyst. This is when a surge of new technologies — such as the mega tech trends at the heart of the coming Fourth Industrial Revolution — hit the market all at once, spurring economic growth.
What are some examples of America 2.0 innovations?
America 2.0 innovations are already transforming our daily lives for the better — touching everyone, every industry and every aspect of life. They’re already changing the way we live, work and play, and will be more sweeping and ground-breaking than anything in history…
We’re already starting to see the first signs of it taking hold:
- Internet-based industries are replacing brick-and-mortar businesses and remaking traditional companies — in retail, entertainment, media, music, video, television.
- Clean lines of 3D printers are replacing old-world factory machines and lathes across the country.
- Electric and autonomous vehicles are sharing the road with older gas-fuel cars.
- Robots are showing up in banks, shopping malls and hospitals.
- Artificial intelligence is going beyond digital assistants such as Alexa and Siri.
- Genetic advances and a new biotech-driven era of patient-centered personalized medicine is replacing our one-size-fits-all health care system — helping doctors better diagnose, treat and even prevent cancer, heart disease, diabetes, Alzheimer’s and other chronic diseases.
- New sources of renewable energy — solar, wind and hydro power — are replacing dirtier fossil fuel sources, aided by extraordinary leaps in battery-storage technology.
- Financial technology — digital gold, crypto currency and smartphone cash apps — are giving big banks and traditional financial services a run for their money.
And those are just a few examples, many being driven by the buying habits and lifestyle choices of the nation’s 92 million millennials — the biggest generation in U.S. history.
The big picture line: We are living through what history will see as the Great American Empire — one that will surpass the British, Greek, Roman Empires of the past.
Henry Ford famously said:
“Be ready to revise any system, scrap any method, abandon any theory, if the success of the job requires it.”
With his bold vision, Ford laid the 20th century’s foundation with his assembly line mass production of the automobile. It was a landmark innovation that lit the fuse for the last major Industrial Revolution of the past 100 years.
But America 2.0 will surpass Ford’s technological and manufacturing innovations in ways we haven’t seen for almost a century.
Today, we are on the brink of that new American era — America 2.0. Hundreds of old-world companies that have one foot in the past, and the other in the grave, are going to lose out to the innovators that will drive the Fourth Industrial Revolution and be part of America 2.0 — the new U.S. manufacturing renaissance.
Paul Mampilly predicts America 2.0 will change the world more than the first three industrial revolutions — when agriculture-based societies turned to industrialization in the 18th and 19th centuries — when electricity expanded industrial manufacturing and mass production — and when computers, the internet and information technology fueled the digital revolution of the last century.
What are the main America 2.0 mega tech trends?
- The Internet of Things (IoT)
- Precision Medicine
- Artificial Intelligence
- 3D Printing
- Renewable energy sources and battery-storage technology
- Fintech (financial technology)
Why are millennials the key to America 2.0?
Born between 1980 and 2000, the nation’s 92 million millennials represent the biggest generation in history — exceeding the baby boomers, the silent generation, Generation X and Generation Y.
They are the first generation to grow up with smartphones, the internet and personal technology as central organizing forces in their lives.
The oldest of the millennials are just entering their prime spending years — getting married, starting families, buying homes, cars and related accessories.
Millennials’ average wages are higher than prior generations and they stand to gain a whopping $40 trillion in inheritances — by some estimates — from their boomer parents and grandparents in coming decades. That will add up to the biggest economic infusion in American history, economists say.
Already, millennials command billions in spending dollars that are reshaping businesses and remaking a host of industries that have moved from brick-and-mortar operations to online enterprises.
- Retail (Amazon)
- Fintech (PayPal/Venmo)
- Entertainment (Netflix, Spotify)
- Media, information, communications (Twitter, YouTube, Facebook, Instagram)
- Housing and home goods (Zillow, Wayfair)
- Transportation (Uber, Lyft)