We all have preconceived notions about how the world works, but due to technology this notion is outdated daily. Last month I suggested in And They Say This Isn’t A Tech Bubble that we were seeing a repeat of what occurred in the tech bubble of lore. I am now standing here realizing that I was wrong, very wrong and my impudence can be explained simply. To make the advent of technology easy to understand for all ask yourself, how many people can a website reach? Then proceed to ask yourself – how many people can my local big box store reach?
Ahh the skeptics are now questioning there positions. Well reconsider your ignorance for a moment. Many of you live in a decent sized city, anywhere from 100,000 individuals to 1,000,000 and more. Look at your local Best Buy, Walmart, or even Apple Store and ask yourself, how many people can that store serve in one day? You obviously get the direction in which I am headed, the fact that a store has limitations to the amount of people it can serve. Limitations do not apply to tech companies, I am not suggesting they have super powers by any means, I am merely proposing that tech companies can reach many more consumers than stores. Big box stores have been a key part of our society for the last century, they are by no means dead, but are making room for the world wide web to take a piece of the pie. Consumerism will run rampant in our society for years to come, it will profit from both stores and the web, and these new sites that have millions upon millions of users will be positioned perfectly in the years to come.
Social networking is a key aspect of our life, not a fad of the late 90s. People get up in the morning and check there twitter for news rather then picking up the newspaper, the world is changing. Websites are what shopping (consumerism) was at the turn of the century, an arena with unprecedented growth posibility, a newfound aspect of life we cannot live without. Look at your phone, more and more americans can access the internet from there hand! So to sit here and say the tech bubble is back borders on stupidity. These tech companies may have high valuations, but have growth potential to back even higher valuations. Social media, social networking, and websites that serve a purpose are changing the way we interact with each other and interact with our daily world. If there are consumers to buy goods, which there will be, then these companies can find a way to monetize content (which many already have). I suggest realizing the trend before down the road you say I wish I had.
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