The Portable MBA in Finance and Accounting, 3rd Edition

(Greg DeLong) #1

170 Understanding the Numbers


Internet Multimedia


The Internet provides an amazing plethora of information, and not just in text
or still-picture format. Video and audio streaming mediais becoming increas-
ingly available on the Internet. There are several sites on the Net where one
can obtain audio clips, listen to music, or listen to radio shows. For example,
NFL football games and commentaries are available on the National Football
League’s or National Public Radio’s Web pages. In addition, many music com-
panies are allowing consumers to listen to music in the comfort of their homes
before buying the CDs. In addition, sites such as Napster have been created to
allow users to share or swap music and other files. Some of this sharingcomes
dangerously close to violating copyright legislation. We have seen and can ex-
pect to continue to see the courts play a significant role in defining the bound-
ar y of propr iety.


THE FUTURE—TODAY, TOMORROW, AND NEXT WEEK


Although the industrial revolution began in the United States toward the be-
ginning of the nineteenth century, we are still feeling its effects today. Con-
sider for a moment how our everyday lives have changed as a result of those
innovations. The computer revolution began about 1950, and the microproces-
sor—the heart of the PC revolution—has been exploited only for the last 20
years. Now think about how our everyday lives have changed as a result of
these innovations. Remember, the microprocessor is part of so many of our ap-
pliances, computers, automobiles, watches, and so forth. The impact of the
computer revolution is just as large if not larger than its precursor, the indus-
trial revolution, and has taken far less time. Moreover, the acceleration of
change in our lives that results from the use of computer technology has been
rapidly increasing. Technologists speak about the rapid changes in the develop-
ment of the Internet and its allied products. They even joke that things are
happening so fast that three months is equivalent to an “Internet year.” Funny,
but true.
One of the biggest trends in the last several years has been the merging of
heretofore separate technologies. As we mix computer technology with com-
munication technology and throw in a good measure of miniaturization, it is
difficult to imagine the products we may soon see.
Mix together a PDA, a cell phone, and a global positioning satellite (GPS)
receiver, miniaturize the result, and you have a product that will remind you as
you drive past the supermarket where you were supposed to pick up a quart of
milk on the way home! Walk in the door to the market, and your pocket wonder
may tell you, based on your past love of Snickers candy bars, that they are on
sale for half-price on aisle 5. As you move towards the checkout line, the clerk,
who has never met you, may greet you by name because your pocket wonder
has announced your arrival to her cash register. While this scenario may
sound fanciful, allof the technologies exist today that could make this fancy

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