Technology is the collective term for many diverse practices, processes, and systems used in the creation of goods or services, including scientific research, technological development, or in the achievement of specific goals, for instance the design of a new machine or software tool. The development of new information and technologies alters the world in which we live and the methods by which we interact with each other. Some people are very worried about the way in which technology is changing the world, while others see it merely as a positive force. It is often said, “The future belongs to the techno-savvy public” but this is an optimistic outlook. People need to be more aware of the potentially disruptive impact that technological change can have on society today and the ability of business and governments to adapt to change or avoid it altogether.
One of the reasons why some people are fearful of technology is that they worry that it could lead to a reduction in the quality of life through increased resource consumption, job losses, and a decline in employment. Technological change does not necessarily mean that everything will be different; indeed, many things are already different than they were in years gone by. The up-front revenue for tech companies like Apple and Google is an attractive factor, especially compared to traditional businesses that offer no revenue at all. However, there is a lot of potential for tech start-ups to earn significant amounts of revenue, and in fact, many tech companies like Amazon and Jawbone are already making large profits per year.
Other tech companies like Google, Amazon, Facebook, Microsoft, and Twitter are still relatively young and have yet to generate significant revenue. In fact, none of these companies have yet to come out with a business model based on selling products and acquiring customers. But these companies are now in operation and generating revenue and having great success. These companies show that there is no reason not to be enthusiastic about the possibilities that the tech world has to offer and there is every reason to be excited about the new technologies that are on their way to becoming mainstream, transforming business models everywhere.