There are three trends, and each in and of themselves is significant. One is what we call the sharing economy — it’s really more the on-demand economy. The second piece is the Internet of Things — all kinds of devices, billions of devices getting networked. And the third is big data and analytics — the ability to understand and manipulate trends from all those devices.
What those three things together mean is that all of the world, potentially, is networked. It’s not just that you go somewhere to a computer or you go to your phone to get access to information. It’s that potentially everything is a data generator, and that datacanbeintegrated,analysed, processed and manipulated.
What that means is the kinds of trends and the kinds of developments that we saw online are now happening offline.… The theory of disruptive innovation is a serious academic theory, but far too often, people in business and entrepreneurship and in the media use the word ‘disruption’ as just kind of a synonym for new technology.
The reality is, it’s not that you have one market, and suddenly a bunch of new companies come in and replace that market. Often, the new markets are different. We tend to assume that there is one set of rules for the real world, and there’s one set of rules for the digital world, and that’s a mistake because, increasingly, there is just the world.
From “How to Regulate Innovation — Without Killing It”