I have decided to publish a post from ‘carlsonomics’ into ‘a thought collection’ because as I re-read what I had written I realised that I had written more about people and their behaviour than I had about the actual I.T. industry. This is consumer analysis that asks interesting questions about the changing nature and demands of us humans: consumers or consumed?
Many people remember the I.T. bubble. Since early 1990’s the industry looked saturated with potential and many investors made killer profits. Also known as the ‘dot com revolution’, many people believed that Information and Technology was the new economy rather than merely a part of the old economy. Much investor confidence was lost with the events of September 11, 2001... in fact the bubble burst and many investors made killer losses. As a result many people have developed an overly negative attitude to the I.T. industry, and for the past 7 years, I.T. companies have in the main not come close to returning to their former glory.
I remain optimistic about the future of the I.T. industry though and here’s why: The I.T. industry is driven by the needs of the modern human. Here are four:
1. The need to be connected
Never before in the history of man has it been so possible to always be available to whomever is trying to reach you. Even untouchable celebrities are known to sometimes return myspace / facebook messages. It is a case in point where the technology has created the need rather than vice versa. (ie. because we have cellphones we need cellphones OR because we have facebook we need to facebook.) The culture or being connected is becoming a way of life and thus it is becoming a social need thus driving the demand for connection providing services steadily higher. And culture changes slowly. Reversion is highly unlikely.
2. The need to be synchronised
Your email with your phone with your laptop with your contact database with your ipod with your itunes with your electronic calendar with your ... you get the point. The need to be synchronised is driving new technology.
3. The need for convenience
THe modern world could be said to be obsessed with convenience. Service delivery companies have always made margin on added convenience. Convenience has always had a price tag. Pre-made meals and salads, pizza delivery, electric windows, garage quickshops, portable music etc have all changed the face of the planet purely because they were convenient alternatives. Charles G. Mortimer is quoted as saying: “Today convenience is the success factor of just about every type of product and service that is showing steady growth.” Therefore, as long as life can be made more convenient, the I.T. industry will continue to find technological ways of doing it.
4. Lastly, the need for portability
This last point needs little explanation. I carry facebook in my pocket. It’s great when you are waiting in a queue. You can still be social. In fact I should say you can still be ‘social’. There is a difference of course... being social would mean being friendly with the people in the queue with me... That is the flesh and blood world. However if ever the line between reality and fiction was getting blurred it is surely in these times. I met somebody recently who firmly believed they were good at soccer because they were good at playing soccer on the playstation... as if one represented the other. He was insulted when I laughed at him.
Technology allows us to be mobile. It’s becoming a way of life. Laptop sales are sky high because people want to be able to compute on the move. There are many more examples too - I will not bore you with them - I think it’s clear to see...
I.T. companies have the odds in their favour in the modern world. Sure, the industry’s bubble popped but that’s because investors were blowing too hard, not because of the weakness of the industry.
Information and Technology has defined our needs, and now is the only one who can meet them.
Many people remember the I.T. bubble. Since early 1990’s the industry looked saturated with potential and many investors made killer profits. Also known as the ‘dot com revolution’, many people believed that Information and Technology was the new economy rather than merely a part of the old economy. Much investor confidence was lost with the events of September 11, 2001... in fact the bubble burst and many investors made killer losses. As a result many people have developed an overly negative attitude to the I.T. industry, and for the past 7 years, I.T. companies have in the main not come close to returning to their former glory.
I remain optimistic about the future of the I.T. industry though and here’s why: The I.T. industry is driven by the needs of the modern human. Here are four:
1. The need to be connected
Never before in the history of man has it been so possible to always be available to whomever is trying to reach you. Even untouchable celebrities are known to sometimes return myspace / facebook messages. It is a case in point where the technology has created the need rather than vice versa. (ie. because we have cellphones we need cellphones OR because we have facebook we need to facebook.) The culture or being connected is becoming a way of life and thus it is becoming a social need thus driving the demand for connection providing services steadily higher. And culture changes slowly. Reversion is highly unlikely.
2. The need to be synchronised
Your email with your phone with your laptop with your contact database with your ipod with your itunes with your electronic calendar with your ... you get the point. The need to be synchronised is driving new technology.
3. The need for convenience
THe modern world could be said to be obsessed with convenience. Service delivery companies have always made margin on added convenience. Convenience has always had a price tag. Pre-made meals and salads, pizza delivery, electric windows, garage quickshops, portable music etc have all changed the face of the planet purely because they were convenient alternatives. Charles G. Mortimer is quoted as saying: “Today convenience is the success factor of just about every type of product and service that is showing steady growth.” Therefore, as long as life can be made more convenient, the I.T. industry will continue to find technological ways of doing it.
4. Lastly, the need for portability
This last point needs little explanation. I carry facebook in my pocket. It’s great when you are waiting in a queue. You can still be social. In fact I should say you can still be ‘social’. There is a difference of course... being social would mean being friendly with the people in the queue with me... That is the flesh and blood world. However if ever the line between reality and fiction was getting blurred it is surely in these times. I met somebody recently who firmly believed they were good at soccer because they were good at playing soccer on the playstation... as if one represented the other. He was insulted when I laughed at him.
Technology allows us to be mobile. It’s becoming a way of life. Laptop sales are sky high because people want to be able to compute on the move. There are many more examples too - I will not bore you with them - I think it’s clear to see...
I.T. companies have the odds in their favour in the modern world. Sure, the industry’s bubble popped but that’s because investors were blowing too hard, not because of the weakness of the industry.
Information and Technology has defined our needs, and now is the only one who can meet them.
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