Just like the Internet has transformed the media industry or the e-commerce industry, the software industry is also being affected dramatically by the Internet.
Sentiment: NEGATIVE
Over the next 10 years, I expect many more industries to be disrupted by software, with new world-beating Silicon Valley companies doing the disruption in more cases than not.
More and more major businesses and industries are being run on software and delivered as online services - from movies to agriculture to national defense.
My own theory is that we are in the middle of a dramatic and broad technological and economic shift in which software companies are poised to take over large swathes of the economy.
The internet has become one of the motors of the 21st century economy, allowing all of us to reach a global audience at a click of a mouse and creating hundreds of thousands of businesses and millions of jobs.
In software and many other online markets, even dominant firms face potential threats because of the low costs for competitors to enter those markets. Threats more easily emerge because of better or newer technologies leapfrogging older ones.
The Internet creates as well as destroys. Social networks, search advertising, and cloud computing are multibillion dollar industries that didn't exist 10 years ago. They are products of the same force that has rendered the Postal Service's core business obsolete.
The world of digital media is being transformed. A bunch of new businesses can be reinvented, thanks to social graphs, the mobile internet, and the new shopping habits of the young. Those are going to create a whole generation of cool new companies.
In short, software is eating the world.
If anything, the impact of digital technology is creating bigger brands and bigger superstars.
In the future, it's going to move from being just a data transport to really becoming a media experience platform. The Internet will be more about media, more about collaboration, much more virtualized and much more green.
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