Innovation and technology can be used for "good" or for "bad". But in my opinion, there is also a grey area, as our lives are not just black-and-white. I believe that you are absolutely right. The way we use technology and innovation matters, but at the same time, I believe that the outcome is the most important. To use your analogy, your parents did not have the means to spend time on FaceBook, with "virtual companions". However, at the same time, they did not have the comfort of communicating with a loved one that lives 1.000km away.
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