Why irrational fears of technology slow down innovation

  • Daniel Castro, Vice President at the Information Technology & Innovation Foundation, explains how society often goes from the “tech-hype cycle” to the “tech panic cycle.”
  • Public panic attacks over technology go way back in history and were touched off by inventions like the telephone, toll roads, loyalty cards, cameras, RFID cards, and even computers.
  • Castro’s advice to business: embrace innovation, don’t fight it, or you can be disrupted.

Daniel Castro, Vice President at the Information Technology & Innovation Foundation, explains how society often goes from the “tech-hype cycle” to the “tech panic cycle” and how irrational public fears create bad public policy and slow down innovation. As an example, he says that fears about privacy killed Google Glass.