The first half of each cycle contains large spurts of innovation and change which result in big shifts to how the world works (internet, vaccines, the automobile, jets, nuclear power/weapons).

The second half contains incremental improvements on those big innovations and focus more on convenience/leisure (social media connecting the world, uber, netflix, airbnb, etc).

We're currently in the second incremental half, but things like Space X (mars colonization, cheap rockets), CRISPR (gene therapy curing numerous ailments), and the like, tell me that we're not far away from the beginning of another paradigm shift innovation phase.