Imagine you make cars and come to work one day to discover that everyone in the world has a vehicle that does everything they need and no one wants to replace it.
This is not unlike the position smartphone makers are in today. Billions of people now carry a pocket computer with capabilities that exceed even science fiction’s predictions. And they’re mostly happy with their Star Trek-like devices.
For phonemakers, then, it’s an “innovate or die” scenario. But the innovations that everyone in the world wants — vastly better battery life, a perfect signal everywhere and perhaps a teleportation app — may never be attainable.
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