Hey guys, and welcome to this next pop. So we discussed before about technology accelerating quicker and quicker over the previous last few years. And how this is affecting governments and businesses is a little bit different than how it's affecting people. For most people. It's fantastic when a new technology or new Gizmo comes out, but for businesses that can, you know, really affect their bottom line and sometimes completely devastate their entire company. So the reason for this is that traditionally, when a technology came out, it was invented, it was developed, maybe refined, it was then deployed, and you know, then it will take a while for consumers to understand the technology to accept it, and obviously to actually purchase it and start using it every day.

So we take things Like the mobile phone, originally, when it came out, it was, you know, embedded in cars because it was such a huge, huge device, you couldn't physically carry them around. Later, they sort of developed them down to the size of a suitcase kind of thing. And you saw, you know, business main character in suitcases, then it got even smaller with the sort of smaller with brick phones is all people using. And you know, from there and obviously got smaller and smaller into what we use today as a smartphone. But the point is, that development cycle of getting smaller and smaller and building the technology into what it is today took decades of use, and even then it took even more time to deploy it, convince people that they needed a mobile phone and you know, it's fantastic for x, y and Zed and for them to actually purchase it and start using it.

So all this sort of time. The companies and the government had to kind of review the technology and see it Coming and basically decide what they can do with their business and how they can best use it. Over the past decade or two, though, this entire sort of development cycle of new products has actually greatly reduced and as I mentioned before, is obviously accelerating and getting smaller and smaller every year. But even now, we're saying that this development cycle is so small, that it can cause really big problems because companies don't have that, you know, 10 or 15 years to kind of see the technology coming, see how they can integrate it into their business and maybe benefit of it like, you know, telecommunication companies, they used to only provide basically landline phone services, whereas now, they've integrated smartphones and the internet and new technologies like that into their business model and now provide smartphone services, data services, Internet services, so they had that time to properly transition their business to the new technology, which is Very good for them.

However, with other things that are coming out much, much quicker, a lot of companies just simply don't have that time. And as a result, you get these massive disruptions. So a good example of this is actually drones. Now, drones roughly about five plus years ago weren't really a thing. I mean, people were personally creating their own drones, but there was no big huge industry around like there is today. And because of this, because that whole, you know, development cycle of drones getting smaller and better, rolling out to customers, customers, buying them, customers using them.

And, you know, literally in the millions and millions of people using drones that has happened in such a small space of time, you know, three to five years kind of thing is very small, compared to the 20 or So, last time. It's become a real problem for governments and businesses alike businesses because they have no time to process this and integrate graded into their own business and see how it might affect their bottom line, or perhaps maybe how they can benefit from it. And governments from the other side, because they can't regulate this sort of stuff, they're not that quick on their feet, they can't analyze the new technology see how best to protect their citizens and create appropriate laws for. And as a result, you get some really weird issues where things like, you know, in Thailand, it's still actually illegal to fly a drone, they will basically put you in prison if you don't go through the proper, you know, process and think you have to actually, you know, sign up with three different government bodies or something really ridiculous like that.

Even though all you're doing is just flying a drone. It's nothing amazing. India is another country that's obviously huge. And I'm sure there are millions of people out there right now that would love to go and fly that drone in India, but you can't unless you actually sign up for a piece of paper and submit To the Aviation Authority, it's as if you are flying a full sized plane because they simply still do not have official laws for drones yet. That is how long it takes governments to react and draft laws and get them fully enacted. So this is where it comes in as a very big problem now that this development cycle is much, much shorter.

So the biggest issue doesn't seem to be the fact that technology itself is being developed more so that, as I said, this timeline over when it gets deployed and being used, just has been hugely, hugely reduced. And this is really what's killing businesses and giving them so much trouble. And as a result, these new technologies can sort of become the Wild West out there because, you know, it's just random people doing stuff. There's no government supervision or regulation out there. And one of the best examples of this is actually cryptocurrencies, which is obviously come out as something But huge new technology recently now, I'm sure you've heard of the infamous Bitcoin out there. And whilst this is, you know, still a little bit wild west, like it's one of the more serious cryptocurrencies and actually has, you know, a bit of tangible value in it.

You may argue otherwise, but it's at least semi serious in terms of what it hopes to achieve, but there's far far more hilarious cryptocurrencies out there. So there's this one, which is print and coin, which was started back in 2016, and is now worth about two and a half million dollars. There's the hilarious pay con, which literally in its note to investors says that it will fix world hunger, cure cancer, catch Kony and save the day the PSN network goes down. And then there's also the Doge Coin which was literally invented as a way for people to try and What's the most stupidest thing we can think of? To prove that people will buy anything, they invented Dogecoin that now is at a whopping half a billion dollars. So while previously, you know, things used to take 10 plus years to develop now, it's only taking a couple and it's just messing a lot of things up, at least in the traditional space of government business.

Now, to give you some other examples that have happened historically, not just tartly now, you have things like Airbnb, they started in a loft in 2007. They developed their technology improved upon it, deployed it to the world. And in only seven years, the platform had grown to over 10 million people. So as I said, mobile phones took roughly 20 or so years to really get going. They did a similar thing in seven years. So you It's much, much quicker boober was another one.

While precise figures are difficult to come by Google went from being essentially non existent in 2010, to having over a million users in roughly three years. So both companies completely blindsided their respective industries, you know, hotels, obviously, and taxis. And as a result, I basically have been banned in some countries that have been embraced in other countries, even eBay in the country that it was actually invented in America is banned in some cities. So this doesn't just affect small companies either. Obviously, with things like Uber, and Airbnb, it's affected huge industries around the world. And it's not just with sort of software based things either.

It can also happen with hardware based things now, usually they take longer to roll out because you've got to physically build the hardware as opposed to just push me out a million copies of software instantly, but it can still happen very, very quickly. Now, when Apple released the first iPod, they actually sold over 50 million of them in the first three years alone. So again, we're talking about something that completely blindsided the music industry, and took it from zero up to 50 million users in just three years. And this was at a time whenever I was buying CDs, or records or tapes, or whatever you wanted to buy back then people still buy records now, but mostly it was CDs. And it went from people buying CDs at a music store to people downloading mp3 is off the iTunes Store and storing it on their iPod from Apple.

And this was a huge change, which obviously now has resulted in people streaming music, and it's changed even more. But it's easy to see how these changes can happen in both software and in hardware. So you've got to be aware of both of them. This destruction and disruption is also accelerating to as that development cycle continues to get even smaller. But you know, you may be wanting to know by how much you know, previously it was destroying, say the music industry, how much is it going to destroy companies in the future? Now, we'll be discussing that in the next part.

So I'll talk to you then. And we'll also be covering a very interesting new sort of development that's happened in AI. So I'll chat with you then. And we'll discuss all that