Matthew Lynn’s London Eye: 4 things investors should watch as Britain negotiates its exit from the EU

LONDON (MarketWatch) — In the technology industry, there is a useful saying: In the short run, people always overestimate the impact of any disruptive device, but in the long run they underestimate it.

Over the 30 years since microchips starting reshaping whole industries, that has proved to be very true. The CD didn’t vanish as soon as file-sharing emerged, but there are not many record shops left now. Newspapers didn’t close overnight, but they have been in steep decline. Likewise, no one abandoned their landline when the first cell phone emerged, but they gradually faded in importance.

Occasionally, the same applies to political and economic events.

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