Diversity is the driving force behind both biological and artificial evolution. In the evolution of technology, it is commonly presumed that the generation of novel traits is inherent to a subset of the population, like experts. However, the dynamics of diversity demonstrate collective dynamics, including oscillations, that cannot be reduced to individual traits alone.  A popular technological domain may expand so rapidly that demand for subject-specific experts exceeds supply, resulting in an equilibrium that favors imitation over invention. As more ideas are replicated rather than invented, we anticipate a decline in diversity and an increase in information redundancy in this context. We can predict the observed patterns of linguistic diversity, network complexity, information density associated with the rise and fall of innovation using mathematical models and computer simulations.