While reading the news on Apple and MS’s results, one whacky thought came to my mind.
If these two IT companies along with IBM, HP are close to $100Billion in annual revenue each, then top 25 IT companies put together would be making $1000 billion annual revenue. There is a great race going on to growing these revenue faster. And there is a greater race for bringing ‘innovation’.
The other side of this revenue is consumers and enterprises are spending at least $1000 billion in buying these stuff made by these companies. Every year we are spending more money on these stuff. What is the primary reason for fast growing sale of Apple like products? Primarily we are buying new stuff every year. We are getting lured by so called innovation or new features.
The thought that came to my mind, if Apple, for example, does not come out with iPad3 or iPhone5 or Microsoft does not bring newer version of Windows or Oracle, IBM , CISCO all decide not bring any new features for next 2 years, what would happen?
My feeling is that they would stop growing but they would still collect $1000billion between them, but may be extra $100Billion (10% of $1000 billion) that consumers and enterprises would have spent to buy ‘innovation’ would not be spent on these products. If you take this logic further and apply to consumer electronics field, I guess we could help consumers in saving upto $500 billion from spending.
And then we create a system of channelizing this money into projects that are meant to save people’s life, make food available to each and every human being on the earth and help create more equitable place, we would be right thing.
If companies do not bring out these so called innovation in consumer IT and consumer electronics, world would not be poorer. My mobile phone, 6 years back, had made as happy as iPhone made me. So if there was no iPhone, I would still have been happy and talking to people. But today me and people like me are eagerly looking for newer version of iPhone and iPads with wallets in hand. Does it make sense? Does it make any world any better?
Please stop this innovation.