THIS is tech bet of our lifetime, PE titan says

The mobile Internet is the biggest investment trend in our lifetime and will be for years to come, venture capital and private equity titan Glenn Hutchins told CNBC on Thursday.

"The devices that we use are smaller and smaller, cheaper and cheaper, and more and more capable. And that's happened all of our lives," Hutchins said on "Squawk Box" from the World Economic Forum in Davos.

Right now, the hottest areas of technology deal with connecting cars and wearables, said the co-founder of Silver Lake, which has more than $23 billion in combined assets under management. "It's [also] all about semiconductors being attached to smaller things and then connected to the Web" and the proliferation of broadband wireless technologies.

Hutchins did admit that he's concerned that technological advances will take away even more jobs, but he thinks the problem is manageable.

"We're in a process where work, I believe, is fundamentally changing," he said. "Work is going to go less from an industrial age concept having a job where you punch a clock and more where you have projects you work on."

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