The Exciting Future of Consumer Electronics in the United States
Summary
In this article, we discuss the concept of the Internet of Things and its impact on the consumer electronics industry. We explore the increasing importance of software in consumer electronics and how it is creating more value than hardware. We also touch on the potential for wearable technology to become general purpose computing platforms with app stores and downloadable functionality. Finally, we discuss the excitement and potential of new communication technologies, particularly the smartphone revolution, and how it can provide unprecedented access to the internet and online education.
Table of Contents
- The Internet of Things and the Importance of Software
- Wearable Technology as General Purpose Computing Platforms
- Opportunistic Investing Philosophy
- The Smartphone Revolution and Access to the Internet
- Lytro and the Future of Photography
The Internet of Things and the Importance of Software
The Internet of Things involves connecting devices with sensors and wireless capabilities to the internet. This allows for the collection and sharing of data, which can be used to improve efficiency and productivity. However, the speaker notes that the real value in the Internet of Things comes from the software that is used to analyze and interpret the data. In fact, software is becoming increasingly important in consumer electronics, with more value being placed on software functions rather than hardware.
To illustrate this point, the speaker uses the example of the iPhone, which is manufactured in China but the majority of the IP and economic value is created by US-based companies. They believe that this trend will continue and that the consumer electronics industry will move back to the United States, which will have a positive impact on the American economy.
Wearable Technology as General Purpose Computing Platforms
The speaker discusses the excitement around the development of new hardware and software in the United States, particularly in relation to wearable technology. They predict that these functional appliances will become general purpose computing platforms with app stores and downloadable functionality. This will allow for greater customization and personalization of these devices, making them more useful to consumers.
Opportunistic Investing Philosophy
When asked about their investing philosophy, the speaker emphasizes the importance of being opportunistic and not having preconceived notions or theories. They believe that the most disruptive ideas often come out of left field and that it is important to remain open to new and innovative ideas.
The Smartphone Revolution and Access to the Internet
The speaker discusses the excitement and potential of new communication technologies, particularly the smartphone revolution. They note that smartphones allow for a general purpose computer in the pocket of 5 billion people, providing unprecedented access to the internet, search engines, social networks, and online education. This is an opportunity to wire the plane and provide access to information and resources to people who may not have had it before.
Lytro and the Future of Photography
The speaker also talks about Lytro, a new camera company that they invested in. Lytro uses light field photography to capture all three-dimensional light rays in a scene and allows for refocusing, relighting, and changing perspectives after the fact. This technology is a much bigger advance than the switch from analog to digital photography and combines photography and computer graphics to bring together what happens in the real world with what can be done on a computer.
Conclusion
The future of consumer electronics in the United States is bright, with new and innovative technologies being developed every day. From the Internet of Things to wearable technology and the smartphone revolution, there are countless opportunities for growth and development. By remaining open to new ideas and investing in disruptive technologies, we can continue to push the boundaries of what is possible and create a better future for everyone.
