And by the end of the 1980s, Intel and Microsoft had redefined the personal computer business. No incumbents got killed in the first act, but when the market came back a second time, it destroyed the incumbents. Established companies such as Digital Equipment, Wang and Data General were decimated, he said. Karlgaard certainly thinks so. The only thing that is missing, he said, is the catalyst technology to revitalize the struggling Internet sector.
Journalism is full of cynics.
But Karlgaard, who writes the Digital Rules column for Forbes, is about as optimistic as they come when speaking about the Internet economy. There are two primary reasons for his faith. The first is the pace of technological change, led by the rapid and consistent growth of semiconductors, storage and communications. It is going to accelerate. It is going to be very fun.