4Rapid Diagnostics: Theranos, a promising new start-up, has teamed up with Walgreens to offer an innovative new blood test that can be used to perform 70 different diagnostic tests with a mere 25 microliters of blood. Another start-up, rHealth, has created a hand-held device that can diagnose hundreds of diseases using a single drop of blood. The good news is that as these technologies improve, the amount of time and money people will save by having multiple diseases rapidly, accurately and affordably diagnosed will be immense. The bad news is reserved for lab diagnostic technicians who will see the need for their services evaporate over the coming years.
53D Printed Houses: A private company in China has successfully built a giant 3D printer capable of printing ten full-size houses in a single day. Currently, the houses are modest and aren’t aesthetically appealing but as the technology matures the houses will become more attractive, affordable, and customizable. Urban planners, builders and real estate agents will all need to stay abreast of developments in the field because the technology may demand that they rethink many aspects of their jobs.
6Virtual Reality: In March, Facebook shocked the business world by purchasing Oculus Rift for $2 billion. At the time, Mark Zuckerberg justified the purchase by saying, “There are not many things that are candidates to be the next major computing platform, and this acquisition is a long-term bet on the future of computing.” A hint of virtual reality’s far-reaching future appeared this fall when Lexus announced it was using an Oculus-based simulator to allow customers to experience the “feel” of driving a new Lexus automobile without actually visiting a dealership or even stepping into a real vehicle. The impact of virtual reality technology on many other “physically-based” businesses will be profound.
7Half-Price Gasoline: Due to advances in fracking technology and horizontal drilling, natural gas production in North America has exploded over the past decade. This increased production is one reason gasoline is now under $3-a-gallon in many parts of the U.S. It is possible that gasoline prices could plummet even further. Chemists at Siluria, a new start-up, claim to have created a new catalyst that efficiently converts natural gas into water and ethylene, and a second that then converts the ethylene into gasoline.
If the process scales, consumers will have a lot more discretionary income and businesses, large and small, will need to adjust to a new era of “cheap energy.”