These changes directly correlate with unprecedented opportunity for global economic growth
To say that the smartphone ranks among the greatest technological changes of all time sounds like hyperbole. How could this small gadget be that profoundly transforming?
These changes directly correlate with unprecedented opportunity for global economic growth, especially for economically developing/undeveloped countries. Can you imagine the potential ROI when you leverage easy access to an exponentially growing global market?
According to The Economist (February 28, 2015)–
“…in developing countries every ten extra mobile phones per 100 people increase the rate of growth of GDP-per-person by one percentage point–by say, drawing people into the banking system.
(Furthermore)…the (smart)phone is a platform, so startups can cheaply create an app to test an idea..and rapidly go global if people like it. That is why it will unleash creativity on a planetary scale.”
Facebook CEO, Mark Zuckerberg, purchased WhatsApp, the most popular global messaging app–with 700 million users for $16B a year ago. Of course, this is a potentially highly profitable strategy for him to extend the reach of FB. But he also seems genuinely motivated to be a major catalyst in future global economic growth.
In my next blog, I’ll explore how the coming age of universal Internet access involves a push-pull dynamic between individual freedom and political control; security and vulnerability.