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Gates' Law: How Progress Compounds and Why It Matters

“Most people overestimate what they can achieve in a year and underestimate what they can achieve in ten years.” It’s unclear exactly who first made that statement, when they said it, or how it was phrased. The most probable source is Roy Amara, a Stanford computer scientist. In the 1960s, Amara told colleagues that he believed that “we overestimate the impact of technology in the short-term and underestimate the effect in the long run.” For this reason, variations on that phrase are often known...

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