“And once you get instantaneous communication with everybody, you have economic activity that's far more advanced, far more liquid, far more distributed than ever before.”
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The days when a car aficionado could repair his or her own car are long past, due primarily to the high software content.
Today's leading real-world retailer, Wal-Mart, uses software to power its logistics and distribution capabilities, which it has used to crush its competition.
Around '93, '94, the conventional wisdom about the Internet was that it was a toy for academics and researchers. So it was very, very underestimated for about two years.
You are cruising along, and then technology changes. You have to adapt.
