4 October

EVs are following the classic S-curve of innovation. Slow early, then an exponential take-off, followed by a flattening out when mass adoption has happened. The reason all change is like this is, again, status. ‘Early adopters’ tend to be rich and higher status. Once enough of them adopt an innovation, the rest of society will follow through mass imitation (that’s the exponential surge, imitation is lightning fast). Not because they think the change is clever or smart, but because FOMO kicks in. They don’t want to be left out of what everybody else is doing. And everybody else wants to emulate the higher status folk, that’s why imitation is the absolute foundation of all human life.