Why it’s so different now

Compare the state of play in 2013 versus 15 years ago. 33% of the world is on the Internet on average of 3.1 hours / day. There are 138 million smart phones in the US alone and … wait … 99 million tablets. Insane.

2008 App ecosystem on iOS = $0. 2013 = $25 billion of which Apples stage is more than $8 billion at > 90% gross margin. Credit cards = less friction = more purchases = cha ching.

http://www.bothsidesofthetable.com/2013/05/25/as-populist-as-it-may-feel-98-of-vcs-arent-dumb/

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