From Peter Gruber:
Someone walked into my UCLA class a year ago and three hours later I realized that the business of media and the business of business itself was about to be turned inside out.
Mickey walks in and says that first and foremost a new mountain is on the horizon of not billions but trillions of connected devices. He plays a short film (Link: https://vimeo.com/7395079 ) and quizzes us about how big trillions even is–for those that aren’t math majors, a trillion seconds is over 30,000 years. He makes the point that this isn’t far off in the distant future but happening within the next five years. “For instance,” he says. “We just reached over four to six billion cell phones, effectively super computers in our pockets, but as early as 2010 the world had manufactured over ten billion microprocessors a year and now makes more transistors than grains of rice, cheaper.” He continues, ‘but a trillion smart devices isn’t even the biggest challenge, it’s that connectivity will act like a seed in that super saturated solution and suddenly we won’t see information any longer as being “in” our computers, but instead the sock will turn inside out and we’ll be living “in” the information.’
. . . . . .
A student asks, “So are your clothes all going to gang up and lobby for a change in detergent when they fade too fast, or don’t fade fast enough?” Yes. This is the first time in history where we’ll have a true feedback loop of not just the social media anecdotes that drive today’s recommendation engines, but facts.
Phi Beta Iota: Missing from their concept — but very easy to integrate into their vision — is the foundation concept of true cost economics.