time -- Digitization, Globalization and the Debt Crisis. This is an existential crisis for large companies, their very reason for existence is being called into question. Business-as-usual won't help them navigate this perfect storm. Therefore software-as-usual won't help them navigate this perfect storm. That is why there is a huge opportunity again in enterprise software. But I am "getting too far over my skis". I want to return to the R.I.P post from ten years ago. There was a lot that I got right. I could see the dismal grind of consolidation. However some of my gloom was due to the terrible, but transitory, backwash from the end of the technology nuclear winter. These were the days when nobody was buying any software, innovation was dead, the only answer was to get into real estate speculation. Thankfully I resisted that temptation, it ended in a bust worse than the Dot Com bust, one that we are still living through. In hindsight the biggest thing I got wrong was: " The "IP everywhere" rollout is exactly that, an implementation of proven technology by big vendors". That was wrong because the "IP everywhere rollout" fundamentally changes the rules of the game. The IP everywhere rollout makes transaction costs cheaper externally than internally. This is the practical realization of Coase's Theorem. Coase, an economist writing in the 1930s, posited that firms grew big based on the fact that transaction costs were lower internally than externally. The Internet makes external transactions dramatically cheaper; this