We have dramatically reduced the physical bulk of our radios, for example, by substituting transistors for vacuum tubes. New architectural, engineering, and materials technologies have enabled the construction of buildings with the same space, but far less physical material, than was required 50 or 100 years ago. Most recently, mobile phones have been significantly downsized as they have been improved.
The increasing importance of new insights has, of course, raised the value of information creation and transfer in boosting standards of living. Thus, it should be no surprise that new computer and telecommunications products have been accorded particularly high value by consumers and business and, hence, why companies that successfully innovate in this field exhibit particularly high stock market values.