Can Innovation Save Us? A Footnote


“The “app economy,” which includes Facebook as well as smartphone apps, is estimated to have generated $20 billion in revenue in 2011 by selling downloads, advertising, “virtual goods” and other products, according to estimates from Rubinson Partners, a market researcher.”

This quotation from a long article in the Wall Street Journal, on the extent to which apps are gathering personal information on their users, underscores what I said in the first of my posts on innovation:  That to depend on virtual goods, as the article puts it, for our economic future is to squander our money on the nonexistent.  None of the things sold for this $20 billion is actually a thing, nor even really much of a service.  It is all dreams and delusions and does not address, let alone solve, any of the serious material, real-life and real-time problems facing our country and our planet.

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