This next evolution could be the third defining moment of connectivity in our history. The first was the creation of the internet. The second was the creation of the Web. And like the first two, this next evolution might make new technologies and whole new income streams possible for Aussie businesses.
What kind of tech will exist 1,000 years into the future? I’m going to guess we will have mastered artificial intelligence. Or maybe it will have mastered itself. It will speak, interact, listen and remember just like you or me. The only difference is it can process data exponentially faster.
What does the world look like without the World Wide Web: a collection of information-rich pages that sits atop of the internet? No YouTube. No Wikipedia. No Facebook or Amazon. And especially no Google.
While I’m sure our own Reserve Bank of Australia (RBA) is more concerned with Aussie figures, we seem to be going the way of the US. Aussie rates have been on pause for years. And the next move might potentially be down.
You’ve probably heard a lot about the ‘Ban Huawei’ movement Trump is pushing. It was enough to get us Aussies on board. New Zealand is toeing the line. But countries in Europe are less obliging.
You only have to go back three generations, though, to see an entirely different world. A world without Twitter and YouTube. A world where you might grow up on the farm, sheltered in a community that knows only what the local paper and passers-by tell them. But it’s just the beginning. So says the father of the web.
Our central bank hasn’t taken us down the road of no return, yet. But we now find ourselves at a pause. Aussie economists are licking their fingers, putting them in the air and seeing which way the wind blows.
The only reason the YES Network is up for sale is because Disney needs to cut the fat. They’re in the process of a US$85 billion merger with 21st Century Fox. And regulators won’t let Disney keep the lot.
Facebook fell well over US$100 billion of its value. Yet look at the company today… The stock is up almost 40% from its low last year. So what did we learn from the Facebook saga?
The slowdown is almost over, Credit Suisse’s John Woods says. Now, as central banks around the world pause, it could be go-go time again. We’ve also seen central bankers in Europe change policy. At first everything seemed fine. The Eurozone was out of the woods, ready to grow again.