From the end of the Second World War until a few years ago, when it cooled off, productivity surged across the U.S. economy, giving rise to whatâ€™s often called the â€śproductivity miracle.â€ť From manufacturing to agriculture to retail, industry after industry became cheaper, faster, more mechanized, and more efficient.
But the same canâ€™t be said of construction. Productivity in construction has not only not risen, itâ€™s actually lower now than it was in 1968.
. . . Silicon Valley has noticed. On May 30, a Menlo Park company called Katerra announced that it had acquired Michael Green Architecture, a 25-person architecture firm in Vancouver, British Columbia. On June 12, the company revealed that it had bought another, larger architecture firm, Atlanta-based Lord Aeck Sargent. This comes five months after Katerra raised $865 million in venture capital from funders led by SoftBankâ€™s Vision Fund, which has also invested heavily in the co-working startup WeWork.View Article