Don’t Believe Naysayers On Microchips, Paul Mampilly Says

Paul Mampilly is pretty enthusiastic about the idea of people get microchips installed in their bodies, often referred to as getting chipped. Companies like Three Square Market are already implanting chips into employees. With a chip inside of your finger, life becomes easier. You can do things without needing your license or wallet. The employees at Three Square Market can purchase snacks without a card. They can also open doors and use copy machines without needing their security cards.

Of course, there are people who are voicing concerns about it. However, Paul Mampilly says that there will always be naysayers who are pessimistic about new technologies. Think about email. CNN at the time had disdain for it. The same goes for things like cell phones and text messaging. The same goes for Facebook and Twitter. When they started publishing books, there were pessimists as well. Paul Mampilly believes that you have to take what the media says with a grain of salt. You can not always shy away from new technology. He believes that as the technology gets better, these concerns will no longer be valid anyway. In addition, Paul Mampilly believes that constantly opening up your wallet to use your credit cards may not be that safe either. The credit card companies know about every purchase you made and where you did it. Facebook knows who your friends are. Amazon knows what you like to buy. So much personal information is stored on our cell phones. Privacy concerns about microchips are not really that valid compared to what already exists. We already use technology that is similar to microchips, such as the EZ-Pass technology. At the end of the day, the financial sector will experience a revolution because of technology. Microchips will offer people a way to avoid the stress of constantly needing certain documents. They won’t have to bother reaching for their wallets dozens of times each week.

Paul Mampilly actually added stocks related to this market to his Profits Unlimited Portfolio. The stock that he added rose fifty percent since then. He believes that more and more companies will continue to invest in this technology and that stocks will continue to rise.

Paul Mampilly graduated from Montclair State University and Fordham Graduate School of Business. He headed the Kinetics Asset Management hedge fund, called the best in the world.

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