Steve Job’s unrelenting genius challenged and overcame the status quo multiple times in his life. The iPhone being his last spectacular victory.
The War on Cash is on. The opening salvos were launched months ago, and now we are getting into the meat of the campaign which is being driven by central banks, governments, and by industry. They all want to kill cash.
The central banks hate cash particularly because it limits their power. There is real concern that in the event another significant recession rolls around central banks will have a hard time pushing down interest rates,
Part of capitalism is the market, the people, taking charge. If the “market” says it makes sense to fix something for whatever reason (environmental reasons, dollar cost, whatever) producers will react to it. They may go the crony route. They may lower prices. Or they may say, “Hey, the market is saying it wants goods which are more durable and repairable and we need to find out how to make money in such an environment.” Or they might do something else.
What is a little free fuel among friends?
Exchanges between Google CEO Eric Schmidt and the then NSA Director Keith Alexander help one get a sense of the working relationship which has developed between Silicon Valley and Spook Central over the last few years.
Is Apple being given a hint to fork over more campaign contributions?
And the other side of the sword. Though turning this technology on is still voluntary it is very possible that it will not remain so.
Although I am a PC guy, I have the greatest respect for Apple and Steve Jobs. Consider this. Apple became the largest company in the world (by valuation) without gaming the political system. I am sure there are exceptions in the company’s history somewhere, but generally this is true. Apple had almost no lobbyist representation until very recently when the Washington crowd decided they wanted a byte. (Get it?)
People are waking up to Bitcoin and other alternative currencies. Mainstream economists are acknowledging the importance of the trend. As are politicians. We are past the “ignoring stage.” Bitcoin is here. It’s important.
Bitcoin and similar currencies could fundamentally change the world economic landscape. Given that the current landscape is defined by the US dollar this of some importance.
We have similar problems with Chinese computers and software. The US was restricting the use of such computers in government and military prior to the Snowden revelations.
Constant surveillance is not good for business.
We’ve written about this in the past. The most important industry in the USA, also the least regulated (go figure) is tech. Technology companies thrive on innovation and beating each other to market. Historically tech, based on the other side of the country from Washington DC, has been a fairly free market. There is a reason why the price of computing comes down every single month and the quality goes up. The power the average person holds in his or her hand when they glance down at their iPhone is well beyond what a computer the size of a city block could do a generation ago.
I have to say – this is pretty cool.
No–the government seems determined to stop it.
Happier, more innovative days at Microsoft.
Today, a single Apple product—the iPhone—generates more revenue than all of Microsoft’s wares combined.
Microsoft lost its edge. It got fat. It got happy. It thought it would forever be on top. Remember when the government went after Microsoft to break it up? Funny thing is, unless a company is given a government monopoly a company will never ever remain on top indefinitely, and this is a case with Microsoft.