Interesting interview. One excerpts:

the underlying pace of innovation has remained rapid but businesses have been slow to take on any kind of risky ventures, and financing for – until recently for, you know, early stage venture capital, for example, or for small businesses, has been pretty tight. So I think we are seeing a slowdown period in terms of the adoption of the innovation into the business world.

Another:

The PPI shows that the price declines for [semiconductors], which were extremely rapid throughout almost the entire history that they’ve been produced, have basically come to a halt — that in the last couple of years there have been no price declines to speak of at all, which is very strange and is in conflict with the fact that innovation in that part of the economy is still proceeding at a rapid rate. And it raises questions about whether the procedures that are being used to measure those prices are appropriate. And I personally think that they’re not, that prices are actually falling more rapidly than the official statistics would show.