Craig,
"Internet business, in today's times - it's only in the second or third inning,"
Chambers said Thursday. "Think about how long it took other industries to reach
$300 billion. Literally, in under a decade, we've reached a level that it took other
industries 100 years to reach."
I caught Chambers on Nightly Business Review being interviewed about this study done in conjunction with UT Austin. He cited one industry as taking 100 years to get to the size of the internet impact today, the auto industry. He said the $301B and 1.2 million jobs were higher numbers than had been conjectured. Some group, didn't catch who, is projecting 170% growth per year going forward. Chambers kind of laughed at that and said even if it's 44-45% per year, internet impact would be 1/2 GDP by 200X (didn't hear the year, but 1st decade of the new millennium).
Scott Gurvey, interviewer asked about internet related companies merging and being bought. Chambers said again that Cisco would buy 8 - 10 companies a year if the government doesn't, what? heard it before but can't put my finger on what Cisco is concerned with re their acquiring companies that would make it less profitable for them.
One last thing, Chambers said that, going into the study, they expected that something like 100 companies would comprise 70 - 80% of internet business. Instead, it was the opposite, where that % is spread out over many more companies...everybody's doing it.
Tony |
