Last time we discussed risk management, proposing a parallel between the banking system crisis (2008) and the health crisis (Covid-19), and some of you contacted us asking for a follow-up of our article1. So, here it is ! Today we have chosen to dwell on industrial/technological revolutions and economic cycles. According to Carlota Perez works2, (drawing upon Schumpeter’s theories), both are closely interconnected and opportunity explosions focused on specific industries, lead to the reccurence of financial crises. In other words, if and when new technologies creates an important financial bubble, it creates a temporary disastrous effect for global economy. Perez, by analizing History, (the age of railways, steel and electricity, channels for water transport, automobile mass production with Taylor’s and Ford’s theories, information revolution…), highlights major problems of our contemporary western society, by using and extending Schumpeter’s theories and Kondratieff's models.