Please see previous post on Old economy is new and new economy is old.
Here is another reason why this happened.
In the era of AI, robots and space, the TAM is beyond human beings.
The electricity is not only consumed by human, but will also by AI agents and robots.
Robots and AI agents will be the “new population” in physical and virtual forms.
Robots and AI agents will have their own identity, wallet, etc.; robots will need additional space to house.
If we will become multi-planet, we will be building a lot more, which will require a lot of manufacturing capacity, materials, power etc.
Thus, old can become new.
Meanwhile, the human being population may not increase that much.
Those human consumption categories will not increase with the “new population”.
Consumer internet probably won’t have dramatically increased TAM, as the ultimate demand comes from human beings.
Thus, new can become old.
Some will keep being “old”.
E.g. Robots and AI agents will not consume alcohol/baijiu.