Hi @Veep9,
This is a great question.
In my opinion, I would rewrite your application for this cycle. A lot has happened in the last year such as the development (and fallout) of the global chip shortage, the confirmation that WFH is at least a medium-term trend, as well as the boom of cryptocurrency (for example, El Salvador's decision to adopt it as legal tender). This is of course, non-exhaustive, and not necessarily relevant to your answer, but I just wanted to demonstrate that lots could be brought in that may have seemed less relevant last cycle. Even if the themes you use are the same, bringing in more recent examples of it demonstrates that you are engaged with the (commercial) world. I worry that if you reuse your previous application, recent events may make it seem less applicable or interesting. By all means, I think using your answer from last year is a good idea, but build and develop on it, perhaps using your experiences in the meantime to qualify why you have chosen to approach these questions in that way.
Very happy to help out wherever I can if that would be useful!
