NEW YORK ( TheStreet) -- Just as it was in the 1970s, 1980s and 1990s, the current recovery has begun with technology.
But the rolling over of the PC sector, starting with Microsoft (MSFT - Get Report) and Intel (INTC - Get Report), climaxing now with Apple (AAPL - Get Report), serves as a warning that it won't end there this time.
Technology, whether in the form of an iPad or a Google (GOOG) cloud, is in the end just a tool. It's a means to an end. The end, in this decade, will be new products and services that transform our cities and the way we live.
Cloud technologists like Jim Whitehurst of RedHat (RHT - Get Report), technology publishers such as Tim O'Reilly and venture capitalists including Vinod Khosla have been saying this for some time. A host of new industries, which use the products of today's technology as an input -- just as earlier booms used commodities like steel as an input -- are emerging all around America.The 3-D printing revolution, companies like 3D Systems (DDD) and Stratasys (SSYS), are emerging first. They hold the promise of producing custom goods at the same cost as mass-produced ones. Those companies, too, are just making tools, and it may be that the biggest winners from their rise will be their customers -- who will transform manufacturing in this decade. Renewable energy is going to put a permanent lid on oil prices. UBS says an unsubsidized solar revolution is starting, as reported at Clean Technica, beginning in high-cost countries. KiOR (KIOR) has fired up its first plant in Mississippi, GigaOm writes, with the goal being production of crude from biomass at a price competitive with conventional oil. Drones, or remotely piloted aircraft, are moving from military to civilian uses, as a "Nova" special described last week, reported by HollywoodToday, with Boeing (BA) and Raytheon (RTN) helping organize a lobby to push sales. Those inventions ride partly on sensors like PrimeSense that are just coming to market. But what is a self-driving car other than a drone that moves on land? That technology, too, is on its way to market.