Digital Business Quotes

No one else knows exactly what the future holds for you, no one else knows what obstacles you've overcome to be where you are, so don't expect others to feel as passionate about your dreams as you do.

No product irrespective of how great it is can sell itself without being discovered with the power of marketing.

Marketing is an investment. Don’t treat it like sales.

The change from shopping in-stores to shopping online didn’t happen overnight. It was a big cultural change which took many years.

The reason that online ads are 80% of the time ignored lies in the fact that we have started forgetting creativity when creativity is as important as data.

A good ad is worth so much more than just a little ad spend.

If you want business growth, you are going to offer the right product to the right customer

Once their trust grows stronger, reputation is built. And in the digital age, reputation is more expensive than anything.

The digital world has become safer and with that, came into existence many great ideas.

The world doesn’t need more of the same things.

Word-of-mouth marketing is great. It can help you enter the market, but it cannot help you stay in the market or achieve rapid long-term growth.

If our personal lives need marketing, how can we even think that our business can go on without it?

Advertising is very powerful as it brings a business out of the darkness to the light and brings your products closer to your buyers.

An effective ad brings long-term positive residual effects for your business.

Advertising is like a stock market for your business investment.

Just like selective listening, now we have selective ad viewing.

Digital trends have made it easy to run ads for each and every business type irrespective of the business size.

If you want to have an effective ad, you need to work on communicating your message in the most effective way. Keep it clear, concise and non-confusing.

An advertising strategy is based on proper research which guides you in this entire process of customer acquisition with the help of ads.

Marketing can neither sell a broken product nor can it mend a broken heart.

Start paying more attention to your digital customer strategy. You don’t want any of your online actions to take a hit on your brand reputation.

Footwear, apparel, accessories, cosmetics - they all belong to the ecommerce category or retail category, but they all are very different industries and require their own research.

A bad product may or may not succeed with marketing, but a good product will definitely never succeed without proper marketing.

Marketing needs to be ethical. Anything which is not is generally a wrong marketing technique.

Don’t just modernize and digitize your business, but also yourself.

The most important task of marketing is to communicate the value of your product to your audience.

Social media isn't something that you "do", instead you have to "be" social.

Innovation requires having at least three things: a great idea, the engineering talent to execute it, and the business savvy (plus deal-making moxie) to turn it into a successful product.

Tweet others the way you want to be tweeted.

Freedom of Speech doesn't justify online bullying. Words have power, be careful how you use them.

In the 1990s, the Internet had yet to fall victim to the greatest iniquity in digital history: the move by both government and businesses to link, as intimately as possible, users’ online personas to their offline legal identity.

If you want your customers to start eating spinach flavored ice cream, your idea won’t need as much cultural change as it will if you want your customers to start taking a coffee pill in the morning instead of fresh brewed coffee. Obviously, the latter will require more efforts and more marketing.

Networking isn't how many people you know, it's how many people know you.

The mobile phone acts as a cursor to connect the digital and physical.

I say, 'Get me some poets as managers.' Poets are our original systems thinkers. They contemplate the world in which we live and feel obligated to interpret, and give expression to it in a way that makes the reader understand how that world runs. Poets, those unheralded systems thinkers, are our true digital thinkers. It is from their midst that I believe we will draw tomorrow's new business leaders." --Sidney Harman, CEO Multimillionaire of a stereo components company

If you are in a position where you can reach people, then use your platform to stand up for a cause. HINT: social media is a platform.

Anything that can be automated, cognified, decentralized, digitized, disintermediated or virtualized will be.

Ecosystems blur the lines of fixed business models. In a digital, dematerialized, disintermediated world, there are no direct competitors.

If we all work together there is no telling how we can change the world through the impact of promoting positivity online.

In the digital world, we have gained access to various online survey tools. Online surveys are replacing the old form of pen and paper surveys because of their ease and convenience.

The fact that a unit of wealth is created today with much fewer workers compared to 10 or 15 years ago is possible because digital businesses have marginal costs that tend towards zero.

There is great potential for your business to grow exponentially if you take advantage of digital advertising. With an online presence, your products will be visible to a wider audience. You’ll be able to take your product to where your target customers are.

The moments of silence are gone. We run from them into the rush of unimportant things, so filled is the quiet with the painful whispers of all that goes unspoken. Busy-ness is our drug of choice, numbing our minds just enough to keep us from dwelling on all that we fear we can’t change. A compilation of coping mechanisms, we have become our fatigue. Unwilling or unable to cut ourselves free of this modern machine we have built, we’re dragged in its wake all too quickly toward our end. The virtue of a society’s culture is reflected in the physical, mental, and emotional health of its people. The time has come to part ways with all that is toxic, and preserve our quality of life.

In a small company, the CTO, R&D, the COO, and even the CEO or cofounders or owners can be responsible for reviewing documentation. Don’t rely on your memory; write it down. Ideas become reality when we speak them and write them. So document them in an idea journal (digital or traditional) without judgment at the time. Inventors (and especially software developers) tend to edit or judge ideas and conclude they are not patentable because they were simple—even though they solve important problems and do not exist elsewhere.

Don’t let the opinions of the average man sway you. Dream, and he thinks you’re crazy. Succeed, and he thinks you’re lucky. Acquire wealth, and he thinks you’re greedy. Pay no attention. He simply doesn’t understand

Suffering isn't real to them. War isn't real. It's just a three-letter word for other people that they see in the digital newsfeeds. Just a stream of uncomfortable images they skip past. A whole business of weapons and arms and ships and hierarchies they don't even notice, all to shield these fools from the true agony of what it means to be human.

The biggest deception of our digital age may be the lie that says we can be omni-competent, omni-informed, and omni-present. We cannot be any of these things. We must choose our absence, our inability, and our ignorance—and choose wisely.

Twitter, Reddit, Tumblr, Instagram, all these companies are businesses first, but, as a close second, they’re demographers of unprecedented reach, thoroughness, and importance. Practically as an accident, digital data can now show us how we fight, how we love, how we age, who we are, and how we’re changing. All we have to do is look:

It is just when people are all engaged in snooping on themselves and one another that they become anesthetized to the whole process. Tranquilizers and anesthetics, private and corporate, become the largest business in the world just as the world is attempting to maximize every form of alert. Sound-light shows, as new cliché, are in effect mergers, retrievers of the tribal condition. It is a state that has already overtaken private enterprise, as individual businesses form into massive conglomerates. As information itself becomes the largest business in the world, data banks know more about individual people than the people do themselves. The more the data banks record about each one of us, the less we exist.

Whenever we look around the world, we see smart leaders – in politics, in business, in media – making terrible decisions. What they're lacking is not IQ, but wisdom. Which is no surprise; it has never been harder to tap into our inner wisdom, because in order to do so, we have to disconnect from all our omnipresent devices – our gadgets, our screens, our social media – and reconnect with ourselves.

Selecting the right measure and measuring things right are both art and science. And KPIs influence management behavior as well as business culture.

The Internet is the largest experiment involving anarchy in history.

Coherence improves business flow; resilience makes business robust and anti-fragile.

Cloud is the digital wonderland of Internet of Things, powered by Artificial Intelligence and Big Data

For matured organisations with digitally empowered employees, working from home during lockdown due to COVID-19, is nothing but BAU, they are achieving, employees are engaged and trust is built.

Bezos ultimately concluded that if Amazon was to continue to thrive as a bookseller in a new digital age, it must own the e-book business in the same way that Apple controlled the music business. “It is far better to cannibalize yourself than have someone else do it,” said Diego Piacentini

Your website is the center of your digital eco-system, like a brick and mortar location, the experience matters once a customer enters, just as much as the perception they have of you before they walk through the door.

Anything you might want to accomplish—executing a project at work, getting a new job, learning a new skill, starting a business—requires finding and putting to use the right information. Your professional success and quality of life depend directly on your ability to manage information effectively. According to the New York Times, the average person’s daily consumption of information now adds up to a remarkable 34 gigabytes.1 A separate study cited by the Times estimates that we consume the equivalent of 174 full newspapers’ worth of content each and every day, five times higher than in 1986.2 Instead of empowering us, this deluge of information often overwhelms us. Information Overload has become Information Exhaustion, taxing our mental resources and leaving us constantly anxious that we’re forgetting something.

An entrepreneur with strong network makes money even when he is asleep.

The organization's long-term success is based on a set of differentiated capabilities and its core competency.

A core competency is a combination and harmonization of multiple capabilities with a focus.

The simplicity and the complexity are just the opposite ends of the same spectrum.

Identity will be the most valuable commodity for citizens in the future, and it will exist primarily online.

Agile is more a “direction,” than an “end.” Transforming to Agile culture means the business knows the direction they want to go on.

IT and business must be partners, must be able to speak the same language, finish each other’s sentences, to solve the well-defined business problems.

We still live in the era in which information is rich and insight is poor.

Apple’s view was unique at a time when illegal downloading was rampant and most companies argued that nobody would be willing to pay for digital music online.

Softwares are becoming the new cargo ships and freight trucks. Digital files are becoming the new core commodities. The formers won't eliminate the latters, but a restructuring is happening.

The diversity along with deep knowledge of the business will allow board directors to be real “thought partners” with senior management as they consider the longer-term goals beyond quarterly earnings.

Digital empowerment will be, for some, the first experience of empowerment in their lives, enabling them to be heard, counted and taken seriously—all because of an inexpensive device they can carry in their pocket.

One of the great challenges in healthcare technology is that medicine is at once an enormous business and an exquisitely human endeavor; it requires the ruthless efficiency of the modern manufacturing plant and the gentle hand-holding of the parish priest; it is about science, but also about art; it is eminently quantifiable and yet stubbornly not.

The Internet is the largest experiment involving anarchy in history. Hundreds of millions of people are, each minute, creating and consuming an untold amount of digital content in an online world that is not truly bound by terrestrial laws.

I am forever busy working, because I want to work until get a personal call from the bank. Telling me that they cant add more zeros in my account. The number is too long , that they have rounded it off, but still cant add more digits to it.

Just like the way a beautiful butterfly can’t come into life without its transformation cycle from egg to larva, caterpillar to pupa and finally to a brilliant creation, to become a successful digitally transformed organisation, similar transformational stages are essential.

We require a philosophy that puts our aspirations and values once again in charge of our daily experience, all the while dethroning primal whims and the business models of Silicon Valley from their current dominance of this role; a philosophy that accepts new technologies, but not if the price is the dehumanization Andrew Sullivan warned us about; a philosophy that prioritizes long-term meaning over short-term satisfaction.

Creative business seminar. Basically a quick, impromptu brainwashing course to educate your typical corporate warriors. They use a training manual instead of sacred scriptures, with promotion and a high salary as their equivalent of enlightenment and paradise. A new religion for a pragmatic age. No transcendent elements like in a religion, though, and everything is theorized and digitalized. Very transparent and easy to grasp. And quite a few people get positive encouragement from this. But the fact remains that it’s nothing more than an infusion of the hypnotic into a system of thought that suits their goal, a conglomeration of only those theories and statistics that line up with their ultimate objectives.

Uber, the world’s largest taxi company, owns no vehicles. Facebook, the world’s most popular media owner, creates no content. Alibaba, the most valuable retailer, has no inventory. And Airbnb, the world’s largest accommodation provider, owns no real estate. Something interesting is happening.

People still love browsing book stores, and there is an element of passion in collecting DVDs; however, it seems unlikely that the desire to collect boxes or a preference for physical artwork over thumbnails are strong enough forces to hold back the convenience (and, arguably, inevitability) of digital copies.

Publishing is a business based on fiction—and not only the fiction that is packaged between book covers or sold as digital downloads. In order to convince harried, distracted people to set aside hours or even days to read hundreds of pages of non-animated words, we in the publishing business must manufacture an aura of success around a book, a glowing sheen that purrs I am worth your time. This aura is conveyed through breathless jacket copy, seductive cover imagery, and blurbs dripping with praise so thick the words seem painted on with honey. This fiction of success is stoked by the fiction of buzz and sustained by the fiction of social media.

We believe that information is an enlightening agent, but I can assure you it is not. We consume information, but we can’t read. We forgot how to sit down and engage the dense layers of a text. We are so busy devouring information that we forgot how to dance with ideas. We confuse linguistic bits of data for knowledge and ideas. I can assure you, gentlemen, they are not the same. Ideas require effort and the kind of sensibility that engages the subtle layers of meaning. What the hell does information require?

But these conversations require time and space, and we say we’re too busy. Distracted at our dinner tables and living rooms, at our business meetings, and on our streets, we find traces of a new “silent spring”—a term Rachel Carson coined when we were ready to see that with technological change had come an assault on our environment. Now, we have arrived at another moment of recognition. This time, technology is implicated in an assault on empathy. We have learned that even a silent phone inhibits conversations that matter.

Ultimately, the purpose of a certification is to establish a particular level of proficiency in a discipline. Unfortunately, “social media” in and of itself, is not a discipline. Digital crisis management, on the other hand, is. So are digital customer service and online community management. This means that a certification program that focuses on social media without addressing each specific business function adapted to social media won’t end up certifying anyone in much of anything.

As Page puts it, “Good ideas are always crazy until they’re not.” It’s a principle he’s tried to apply at Google. When Page and Sergey Brin began wondering aloud about developing ways to search the text inside of books, all of the experts they consulted said it would be impossible to digitize every book. The Google cofounders decided to run the numbers and see if it was actually physically possible to scan the books in a reasonable amount of time. They concluded it was, and Google has since scanned millions of books. “I’ve learned that your intuition about things you don’t know that much about isn’t very good,” Page said. “The way Elon talks about this is that you always need to start with the first principles of a problem. What are the physics of it? How much time will it take? How much will it cost? How much cheaper can I make it? There’s this level of engineering and physics that you need to make judgments about what’s possible and interesting. Elon is unusual in that he knows that, and he also knows business and organization and leadership and governmental issues.

It is when you begin expressing your ideas and turning your knowledge into action that life really begins to change. You’ll read differently, becoming more focused on the parts most relevant to the argument you’re building. You’ll ask sharper questions, no longer satisfied with vague explanations or leaps in logic. You’ll naturally seek venues to show your work, since the feedback you receive will propel your thinking forward like nothing else. You’ll begin to act more deliberately in your career or business, thinking several steps beyond what you’re consuming to consider its ultimate potential. It’s not necessarily about becoming a professional artist, online influencer, or business mogul: it’s about taking ownership of your work, your ideas, and your potential to contribute in whatever arena you find yourself in. It doesn’t matter how impressive or grand your output is, or how many people see it. It could be just between your family or friends, among your colleagues and team, with your neighbors or schoolmates—what matters is that you are finding your voice and insisting that what you have to say matters. You have to value your ideas enough to share them. You have to believe that the smallest idea has the potential to change people’s lives. If you don’t believe that now, start with the smallest project you can think of to begin to prove to yourself that your ideas can make a difference.

My core fear is that we are, as a culture, as a species, becoming shallower; that we have turned from depth--from the Judeo-Christian premise of unfathomable mystery--and are adapting ourselves to the ersatz security of a vast lateral consciousness. That we are giving up on wisdom, the struggle for which has for millennia been central to the very idea of culture, and that we are pledging instead to a faith in the web. What is our idea, our ideal, of wisdom these days? Who represents it? Who even invokes it? Our postmodern culture is a vast fabric of completing isms; we are leaderless and subject to the terrors, masked as the freedoms, of an absolute relativism. It would be wrong to lay all the blame at the feet of technology, but more wrong to ignore the great transformative impact of new technological systems--to act as if it's all just business as usual.

I was too busy. But with what? I constantly obsessed over what other people—many of them complete strangers—were posting on Facebook, Instagram, Snapchat, or my fraternity group chat. My time was being eroded by a hundred little distractions every day. I was literally clicking my life away. I realized something else—I was depleting my sexual energy in a downward spiral of online porn consumption. I was investing my sexual passions and fantasies into digitized non-companionship. I was desensitized, enervated, lonely, weary, and way too young to feel all those things at the same time.

Our digital devices and the outlooks they inspired allowed us to break free of the often repressive timelines of our storytellers, turning us from creatures led about by future expectations into more fully present-oriented human beings. The actual experience of this now-ness, however, is a bit more distracted, peripheral, even schizophrenic than that of being fully present. For many, the collapse of narrative led initially to a kind of post-traumatic stress disorder—a disillusionment, and the vague unease of having no direction from above, no plan or story. But like a dose of adrenaline or a double shot of espresso, our digital technologies compensate for this goalless drifting with an onslaught of simultaneous demands. We may not know where we're going anymore, but we're going to get there a whole lot faster. Yes, we may be in the midst of some great existential crisis, but we're simply too busy to notice.

Private sector networks in the United States, networks operated by civilian U.S. government agencies, and unclassified U.S. military and intelligence agency networks increasingly are experiencing cyber intrusions and attacks,” said a U.S.-China Economic and Security Review Commission report to Congress that was published the same month Conficker appeared. “. . . Networks connected to the Internet are vulnerable even if protected with hardware and software firewalls and other security mechanisms. The government, military, businesses and economic institutions, key infrastructure elements, and the population at large of the United States are completely dependent on the Internet. Internet-connected networks operate the national electric grid and distribution systems for fuel. Municipal water treatment and waste treatment facilities are controlled through such systems. Other critical networks include the air traffic control system, the system linking the nation’s financial institutions, and the payment systems for Social Security and other government assistance on which many individuals and the overall economy depend. A successful attack on these Internet-connected networks could paralyze the United States [emphasis added].

By tracing the early history of USCYBERCOM it is possible to understand some of the reasons why the military has focused almost completely on network defense and cyber attack while being unaware of the need to address the vulnerabilities in systems that could be exploited in future conflicts against technologically capable adversaries. It is a problem mirrored in most organizations. The network security staff are separate from the endpoint security staff who manage desktops through patch and vulnerability management tools and ensure that software and anti-virus signatures are up to date. Meanwhile, the development teams that create new applications, web services, and digital business ventures, work completely on their own with little concern for security. The analogous behavior observed in the military is the creation of new weapons systems, ISR platforms, precision targeting, and C2 capabilities without ensuring that they are resistant to the types of attacks that USCYBERCOM and the NSA have been researching and deploying. USCYBERCOM had its genesis in NCW thinking. First the military worked to participate in the information revolution by joining their networks together. Then it recognized the need for protecting those networks, now deemed cyberspace. The concept that a strong defense requires a strong offense, carried over from missile defense and Cold War strategies, led to a focus on network attack and less emphasis on improving resiliency of computing platforms and weapons systems.

High-quality and affordable childcare and eldercare • Paid family and medical leave for women and men • A right to request part-time or flexible work • Investment in early education comparable to our investment in elementary and secondary education • Comprehensive job protection for pregnant workers • Higher wages and training for paid caregivers • Community support structures to allow elders to live at home longer • Legal protections against discrimination for part-time workers and flexible workers • Better enforcement of existing laws against age discrimination • Financial and social support for single parents • Reform of elementary and secondary school schedules to meet the needs of a digital rather than an agricultural economy and to take advantage of what we now know about how children learn

But even when Facebook isn't deliberately exploiting its users, it is exploiting its users—its business model requires it. Even if you distance yourself from Facebook, you still live in the world that Facebook is shaping. Facebook, using our native narcissism and our desire to connect with other people, captured our attention and our behavioral data; it used this attention and data to manipulate our behavior, to the point that nearly half of America began relying on Facebook for news. Then, with the media both reliant on Facebook as a way of reaching readers and powerless against the platform's ability to suck up digital advertising revenue—it was like a paperboy who pocketed all the subscription money—Facebook bent the media's economic model to match its own practices: publications needed to capture attention quickly and consistently trigger high emotional responses to be seen at all. The result, in 2016, was an unending stream of Trump stories, both from the mainstream news and from the fringe outlets that were buoyed by Facebook's algorithm. What began as a way for Zuckerberg to harness collegiate misogyny and self-interest has become the fuel for our whole contemporary nightmare, for a world that fundamentally and systematically misrepresents human needs.

India is a land where contradictions will continue to abound, because there are many Indias that are being transformed, with different levels of intensity, by different forces of globalization. Each of these Indias is responding to them in different ways. Consider these coexisting examples of progress and status quo: India is a nuclear-capable state that still cannot build roads that will survive their first monsoon. It has eradicated smallpox through the length and breadth of the country, but cannot stop female foeticide and infanticide. It is a country that managed to bring about what it called the ‘green revolution’, which heralded food grain self-sufficiency for a nation that relied on external food aid and yet, it easily has the most archaic land and agricultural laws in the world, with no sign of anyone wanting to reform them any time soon. It has hundreds of millions of people who subsist on less that a dollar a day, but who vote astutely and punish political parties ruthlessly. It has an independent judiciary that once set aside even Indira Gandhi’s election to parliament and yet, many members of parliament have criminal records and still contest and win elections from prison. India is a significant exporter of intellectual capital to the rest of the world—that capital being spawned in a handful of world class institutions of engineering, science and management. Yet it is a country with primary schools of pathetic quality and where retaining children in school is a challenge. India truly is an equal opportunity employer of women leaders in politics, but it took over fifty years to recognize that domestic violence is a crime and almost as long to get tough with bride burning. It is the IT powerhouse of the world, the harbinger of the offshore services revolution that is changing the business paradigms of the developed world. But regrettably, it is also the place where there is a yawning digital divide.

Given an area of law that legislators were happy to hand over to the affected industries and a technology that was both unfamiliar and threatening, the prospects for legislative insight were poor. Lawmakers were assured by lobbyists a) that this was business as usual, that no dramatic changes were being made by the Green or White papers; or b) that the technology presented a terrible menace to the American cultural industries, but that prompt and statesmanlike action would save the day; or c) that layers of new property rights, new private enforcers of those rights, and technological control and surveillance measures were all needed in order to benefit consumers, who would now be able to “purchase culture by the sip rather than by the glass” in a pervasively monitored digital environment. In practice, somewhat confusingly, these three arguments would often be combined. Legislators’ statements seemed to suggest that this was a routine Armageddon in which firm, decisive statesmanship was needed to preserve the digital status quo in a profoundly transformative and proconsumer way. Reading the congressional debates was likely to give one conceptual whiplash. To make things worse, the press was—in 1995, at least—clueless about these issues. It was not that the newspapers were ignoring the Internet. They were paying attention—obsessive attention in some cases. But as far as the mainstream press was concerned, the story line on the Internet was sex: pornography, online predation, more pornography. The lowbrow press stopped there. To be fair, the highbrow press was also interested in Internet legal issues (the regulation of pornography, the regulation of online predation) and constitutional questions (the First Amendment protection of Internet pornography). Reporters were also asking questions about the social effect of the network (including, among other things, the threats posed by pornography and online predators).

In the 1990s, the Internet had yet to fall victim to the greatest iniquity in digital history: the move by both government and businesses to link, as intimately as possible, users’ online personas to their offline legal identity. Kids used to be able to go online and say the dumbest things one day without having to be held accountable for them the next. This might not strike you as the healthiest environment in which to grow up, and yet it is precisely the only environment in which you can grow up—by which I mean that the early Internet’s dissociative opportunities actually encouraged me and those of my generation to change our most deeply held opinions, instead of just digging in and defending them when challenged. This ability to reinvent ourselves meant that we never had to close our minds by picking sides, or close ranks out of fear of doing irreparable harm to our reputations. Mistakes that were swiftly punished but swiftly rectified allowed both the community and the “offender” to move on. To me, and to many, this felt like freedom.

Let’s step back. Every year between 1950 and 2000, Americans increased their productivity about 1 to 4 percent.1 Since 2005, however, this growth has slowed in advanced economies, with a productivity decrease recorded in the United States in 2016.2 Maybe our rapidly evolving technology that promises us near-limitless options to keep us busy is not, in fact, making us more productive? One possible explanation for our productivity slowdown is that we’re paralyzed by information overload. As Daniel Levitin writes in The Organized Mind, information overload is worse for our focus than exhaustion or smoking marijuana.3 It stands to reason, then, that to be more productive we need a way to stem the tide of digital distractions. Enter the Bullet Journal, an analog solution that provides the offline space needed to process, to think, and to focus. When you open your notebook, you automatically unplug. It momentarily pauses the influx of information so your mind can catch up. Things become less of a blur, and you can finally examine your life with greater clarity.

In fact, as these companies offered more and more (simply because they could), they found that demand actually followed supply. The act of vastly increasing choice seemed to unlock demand for that choice. Whether it was latent demand for niche goods that was already there or a creation of new demand, we don't yet know. But what we do know is that the companies for which we have the most complete data - netflix, Amazon, Rhapsody - sales of products not offered by their bricks-and-mortar competitors amounted to between a quarter and nearly half of total revenues - and that percentage is rising each year. in other words, the fastest-growing part of their businesses is sales of products that aren't available in traditional, physical retail stores at all. These infinite-shelf-space businesses have effectively learned a lesson in new math: A very, very big number (the products in the Tail) multiplied by a relatives small number (the sales of each) is still equal to a very, very big number. And, again, that very, very big number is only getting bigger. What's more, these millions of fringe sales are an efficient, cost-effective business. With no shelf space to pay for - and in the case of purely digital services like iTunes, no manufacturing costs and hardly any distribution fees - a niche product sold is just another sale, with the same (or better) margins as a hit. For the first time in history, hits and niches are on equal economic footing, both just entries in a database called up on demand, both equally worthy of being carried. Suddenly, popularity no longer has a monopoly on profitability.

Noticing the disturbing similarity between the rhetoric surrounding "open government" and new public management, government expert Just Longo speculates that the former might be just a Trojan horse for the latter; in our excitement about the immense potential of new technologies to promote openness and transparency, we may have lost sight of the deeply political nature of the uses to which these technologies are put... In India, recent digitization of land records and their subsequent publication online, while nominally an effort to empower the weak, may have actually empowered the rich and powerful. Once the digitized records were available for the whole world to see, some enterprising businessmen discovered that many poor families had no documents to prove ownership of land. In most cases, this was not the result of some nefarious land grab; local culture, with its predominantly oral ways of doing business, pervasive corruption, and poor literacy, partly explains why no such records exist... The point here, as with most open-government schemes, is not that information shouldn't be collected or distributed; rather, it needs to be collected and distributed in full awareness of the social and cultural complexity of the institutional environment in which it is gathered.

As data analytics, superfast computers, digital technology, and other breakthroughs enabled by science play a bigger and bigger role in informing medical decision-making, science has carved out a new and powerful role as the steadfast partner of the business of medicine—which is also enjoying a new day in the sun. It may surprise some people to learn that the business of medicine is not a twenty-first-century invention. Health care has always been a business, as far back as the days when Hippocrates and his peers practiced medicine. Whether it was three goats, a gold coin, or a bank note, some type of payment was typically exchanged for medical services, and institutions of government or learning funded research. However, since the 1970s, business has been the major force directing the practice of medicine. Together, the business and science of medicine are the new kids on the block—the bright, shiny new things. Ideally, as I’ve suggested, the art, science, and business of medicine would work together in a harmonious partnership, each upholding the other and contributing all it has to offer to the whole. And sometimes (as we’ll find in later chapters) this partnership works well. When it does, the results are magnificent for patients and doctors, not to mention for scientists and investors.

The same thing, notes Brynjolfsson, happened 120 years ago, in the Second Industrial Revolution, when electrification—the supernova of its day—was introduced. Old factories did not just have to be electrified to achieve the productivity boosts; they had to be redesigned, along with all business processes. It took thirty years for one generation of managers and workers to retire and for a new generation to emerge to get the full productivity benefits of that new power source. A December 2015 study by the McKinsey Global Institute on American industry found a “considerable gap between the most digitized sectors and the rest of the economy over time and [found] that despite a massive rush of adoption, most sectors have barely closed that gap over the past decade … Because the less digitized sectors are some of the largest in terms of GDP contribution and employment, we [found] that the US economy as a whole is only reaching 18 percent of its digital potential … The United States will need to adapt its institutions and training pathways to help workers acquire relevant skills and navigate this period of transition and churn.” The supernova is a new power source, and it will take some time for society to reconfigure itself to absorb its full potential. As that happens, I believe that Brynjolfsson will be proved right and we will start to see the benefits—a broad range of new discoveries around health, learning, urban planning, transportation, innovation, and commerce—that will drive growth. That debate is for economists, though, and beyond the scope of this book, but I will be eager to see how it plays out. What is absolutely clear right now is that while the supernova may not have made our economies measurably more productive yet, it is clearly making all forms of technology, and therefore individuals, companies, ideas, machines, and groups, more powerful—more able to shape the world around them in unprecedented ways with less effort than ever before. If you want to be a maker, a starter-upper, an inventor, or an innovator, this is your time. By leveraging the supernova you can do so much more now with so little. As Tom Goodwin, senior vice president of strategy and innovation at Havas Media, observed in a March 3, 2015, essay on TechCrunch.com: “Uber, the world’s largest taxi company, owns no vehicles. Facebook, the world’s most popular media owner, creates no content. Alibaba, the most valuable retailer, has no inventory. And Airbnb, the world’s largest accommodation provider, owns no real estate. Something interesting is happening.

The Memory Business Steven Sasson is a tall man with a lantern jaw. In 1973, he was a freshly minted graduate of the Rensselaer Polytechnic Institute. His degree in electrical engineering led to a job with Kodak’s Apparatus Division research lab, where, a few months into his employment, Sasson’s supervisor, Gareth Lloyd, approached him with a “small” request. Fairchild Semiconductor had just invented the first “charge-coupled device” (or CCD)—an easy way to move an electronic charge around a transistor—and Kodak needed to know if these devices could be used for imaging.4 Could they ever. By 1975, working with a small team of talented technicians, Sasson used CCDs to create the world’s first digital still camera and digital recording device. Looking, as Fast Company once explained, “like a ’70s Polaroid crossed with a Speak-and-Spell,”5 the camera was the size of a toaster, weighed in at 8.5 pounds, had a resolution of 0.01 megapixel, and took up to thirty black-and-white digital images—a number chosen because it fell between twenty-four and thirty-six and was thus in alignment with the exposures available in Kodak’s roll film. It also stored shots on the only permanent storage device available back then—a cassette tape. Still, it was an astounding achievement and an incredible learning experience. Portrait of Steven Sasson with first digital camera, 2009 Source: Harvey Wang, From Darkroom to Daylight “When you demonstrate such a system,” Sasson later said, “that is, taking pictures without film and showing them on an electronic screen without printing them on paper, inside a company like Kodak in 1976, you have to get ready for a lot of questions. I thought people would ask me questions about the technology: How’d you do this? How’d you make that work? I didn’t get any of that. They asked me when it was going to be ready for prime time? When is it going to be realistic to use this? Why would anybody want to look at their pictures on an electronic screen?”6 In 1996, twenty years after this meeting took place, Kodak had 140,000 employees and a $28 billion market cap. They were effectively a category monopoly. In the United States, they controlled 90 percent of the film market and 85 percent of the camera market.7 But they had forgotten their business model. Kodak had started out in the chemistry and paper goods business, for sure, but they came to dominance by being in the convenience business. Even that doesn’t go far enough. There is still the question of what exactly Kodak was making more convenient. Was it just photography? Not even close. Photography was simply the medium of expression—but what was being expressed? The “Kodak Moment,” of course—our desire to document our lives, to capture the fleeting, to record the ephemeral. Kodak was in the business of recording memories. And what made recording memories more convenient than a digital camera? But that wasn’t how the Kodak Corporation of the late twentieth century saw it. They thought that the digital camera would undercut their chemical business and photographic paper business, essentially forcing the company into competing against itself. So they buried the technology. Nor did the executives understand how a low-resolution 0.01 megapixel image camera could hop on an exponential growth curve and eventually provide high-resolution images. So they ignored it. Instead of using their weighty position to corner the market, they were instead cornered by the market.