Fake News and Flying Cars: Reflecting on American Progress Beyond Political Theater

Reflections on the 60th Presidential Election

The dust has settled on our nation’s 60th presidential election. As we reflect on the whirlwind of campaign rhetoric, it's important to remember two key things: first, today’s political atmosphere is not so different from the 'good ol’e days'; and second, our system and our right to vote remain privileges many have died to protect, and countless others around the world would give anything to have.

Political Rivalries Are Nothing New

History provides valuable context. The election of 1800 saw John Adams in the final year of his first term. Our 2nd president was a Federalist who believed in a strong central government capable of supporting and defending the new nation. Adams’ friend, Thomas Jefferson, was a Democratic-Republican who strongly supported state’s rights and feared the tyranny of centralized power. Though friends, these founding fathers who just created a nation by defeating the dominant global power squared off against one another.

Jefferson felt centralized government already needed to be checked and threw his hat in the ring. What ensued was a campaign so bitter history has given it the name “the rebellion of 1800.” Jefferson was called an atheist who would bring chaos and lawlessness to America. Adams was painted a power-hungry elitist bent on curtailing personal freedom. Does this sound familiar? There was even a rumor of Adams arranging a marriage between his son (future 6th President John Quincy) and a British princess to establish an American monarchy. Fake news in 1800. Jefferson ultimately won, but their friendship never recovered—proof that political divisions have always been a part of our history, even among founding fathers.

The framers went to great lengths to prevent power from concentrating in the hands of the few, and the recent election served as a reminder of the checks and balances built into our system. Ambitious people may align to gain an edge, but history shows that competition ensures no one gets too far ahead. Nothing is foolproof, but as Churchill said, “democracy is the worst form of government, except for all the others.”

Capitalism: The Economic Counterpart to Democracy

I see capitalism as the economic cousin of representative government. Our innate greed is funneled to serve the greater good. If you want to be a millionaire, just make something everyone wants. It won’t be long before competitors see your prosperity and think “well, I can do that.” But they must make it better, cheaper, and/or more efficiently than you do, and ideally, consumers win with better and cheaper products. 

Here is an example of capitalism at work: When I moved out of my parents’ house I went to Circuit City - R.I.P. - and bought a 27” color TV for $349. The Navy could have used it as an anchor on a Nimitz class aircraft carrier. Since that day, electronics makers have fought for television supremacy. If they want in the game, they must improve the product. Today, Best Buy sells a 65” LED flatscreen that weighs 37 pounds, has 4k resolution, and comes with Bluetooth, WiFi, and 25 apps preloaded. For $349.

Lessons from History and the Modern Era

So what are we to make of all this?
First, the political atmosphere hasn’t changed much in 224 years, as this election season reminded us—but technology has. Today, even the gas pump has a screen, so we don’t miss a single soundbite, even while refueling. Back in 1800, rumors like young John Quincy Adams’ arranged marriage traveled by horse; today, rumors travel at the speed of light. In a world where every moment demands content, it’s worth questioning how much of it qualifies as true 'news'. I use the term “news” in the same way I call Twinkies “food”. They are delicious, but let’s not kid ourselves.

Second, people have been evil from the beginning. There is no real evidence that we are more evil today; we simply have a megaphone and more destructive tools. They say money doesn’t change character but reveals it…I would say it amplifies character. That’s also what technology does. A bad man in 4,000 BC simply couldn’t inflict the same damage as a bad man with hi-speed internet and a nuclear weapon. 

Third, our country has advanced by leaps and bounds in the past 224 years, fueled largely by representative government and capitalism. We’ve survived and prospered through foreign wars, economic depression, civil war, the injustice of slavery, pandemics, assassinations, and the list goes on. But we didn’t simply survive - we created railroads, electricity, automobiles, antibiotics and vaccinations, airplanes, space travel, computers, the internet, and smartphones. History books and your own eyes should inform your thinking more than media programming directors.

A Story of Innovation at Sequoia Advisor Group

I’d like to close with a recent experience from here at Sequoia. Our CEO, Jason Hunsucker, is the definition of an early-adopter and loves to get his hands on new technology to see what it can do. He has been tinkering with Artificial Intelligence (AI) programs for a couple of years now, but initially he found the technology limiting. That has changed in the last few months.

One afternoon he walked into my office and set his MacBook on my desk. He pressed a button on his screen (that it turns out he created) and spoke to his computer. The button had activated the computer’s microphone, then recorded and transcribed the note. It then saved the note to Google Drive, where it was then formatted and finally put on his to-do list. With the single click of a button. He created a tool that we now use multiple times per day. What’s more, within a week or two I was able to follow his lead and recreate the same project. 

Looking Ahead: Focusing on True Progress

The path of economic growth follows the trails blazed by technology. If I can use AI to create a useful tool, imagine what true innovators will accomplish. This election is now behind us, and while its outcomes may steer some policy decisions, the relentless pursuit of opportunity and innovation continues to drive us forward. The possibilities of curing disease, expanding space travel, ending famine, eradicating poverty, exploring oceans, halting genocide, and countless others remain at the heart of what defines true progress—and they deserve our collective focus.

Written by:
Michael Lindemann
Senior Advisor, Sequoia Advisor Group
lindemann@sequoiaadvisorgroup.com