Capital Markets: Observations & Insights

Newer Innovations Are Diffusing through Society Faster ​ Growth vs. Bond-like Equities

• The faster speed of innovation may be exacerbating the disparity in growth rates between the R1000G and the R1000V

• Innovations are penetrating U.S. markets at an even faster pace

Years from Market Entry to 50% Penetration in the U.S.

120 160 200

0 40 80

TV - 1936

PC - 1974

VCR - 1965

ATM - 1969

Stove - 1750

Radio - 1897

Roads - 1880

Internet - 1989

Dishwasher - 1924 Air Con. - 1933

Railroad - 1830

Hospitals - 1776

Cable TV - 1950

Wash. Mach. - 1904 Air Travel - 1914

Telephone - 1880

Microwave - 1967

Steam ship - 1810

Newspaper - 1704

Credit Card - 1950

MP3 Player - 1998

Smartphone - 1996

Social Media - 2004

Second. Sch. - 1810

Electric power - 1882

Source: Asymco

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