The rise of the smart machines

Machines may not take over the world just yet, say John Stepek and Phil Oakley. But early movers can profit from the new technology revolution. Here's how.

You wouldn't think that an object as mundane as a thermostat could ever become trendy. But then, until last year, the world had never seen a thermostat designed by former Apple engineers.

The learning' thermostat from Nest Labs (co-founded by Tony Fadell and Matt Rogers, who were key players in the creation of Apple's iPod music player) does more than just sense the air temperature.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.