Social Networking is, and will remain in a growth stage for quite some time. While listening to the keynote address at the 2012 GW Business Plan Competition, an interesting projection was offered. Hooman Radfar, a noted technology expert stated, “in five years time, the number of people accessing the internet via a smart phone will exceed the number of people currently using the internet in total (from any device) today.” That realization will, in my opinion, dramatically increase the size and very nature of Social Networking.
A simple fact Michael Dell now knows all too well—a new communication technology can quickly supplant and render your favorite toy an old technology. Add Moores Law and scientific advancements to the equation, and we have a vastly evolved Social Networking environment in as little as five years. Visionaries will steal the show with mind blowing capabilities utilizing newer realities, such as the deep web and advanced bioinformatics. The future of companies lacking the rare insight these individuals provide will be in jeopardy. I for one would not be buying Facebook or Apple stock today. I believe a major shift is on the horizon; somewhere, maybe in a small residential garage, a puzzle is being solved that will drastically change the way human beings communicate. As we all know, history repeats itself, and as long as privacy laws remain strong, I will undoubtedly be a willing participant.
2012 GW Business Plan Competition