Many people are fearful of technology especially with the exponential growth rate we are presently experiencing. However, there are some very valid reasons why it makes sense to adopt technology into your daily life and to do so quickly. Here are a few advantages I have discovered recently when reflecting upon how technology has improved, and continues to improve my life.
Improved Health & Fitness
Entrepreneurs are known for their focused work ethic and drive to make their company succeed. Many entrepreneurs, and people in general, forgo exercise or even a basic level of exercise and nutrition as a result of perceived lack of time. Recently I began using the Misfit Shine activity tracker. Some great features within the Misfit Shine are the ability to set activity goals, monitor these activity goals over time, and monitor sleep patterns. Better yet, the Misfit Shine integrates with the Lose It app which allows you to track daily caloric intake.
I began using Misfit Shine this past Christmas and started using Lose It on August 20, 2014. Since that time my activity level has increased and I have lost 18.7 lbs. Really the only thing that changed was my awareness of activity and consumption. By being aware I understand the impact of each decision which is driving major improvements in my well being.
As I had discussed in a previous article technology is ushering in a new era of abundance. One area that this is becoming obvious at an individual level is the availability of on-demand entertainment at little or no cost to the consumer. According to one source Netflix alone has over 9,000 movies with new content being added regularly. This does not even consider alternate services such as Amazon Prime or Hulu. In the past one had to pay for each movie at a movie theater, purchase physical media such as DVDs, or subscribe to a premium cable offering with very niche content. At any given moment I now have access to over 9,000 unique titles for under $10/month.
Another entertainment area to consider is gaming. Let’s consider iOS games. Consider the following metrics from the website Pocket Gamer from the most popular iOS categories:
1. Games (316,087 active)
2. Education (149,939 active)
3. Business (148,422 active)
4. Lifestyle (122,403 active)
5. Entertainment (102,318 active)
Now consider average price:
-Current Average App Price: $1.38
-Current Average Game Price: $0.66
-Current Average Overall Price: $1.23
And finally the number of apps submitted this month (January 2015):
-This Month (Apps): 25,136 ( 811 / day )
-This Month (Games): 8,821 ( 285 / day )
-This Month (Total): 33,957 ( 1,095 / day )
Based on this data there are over 800,000 apps on the iOS app store, with over 30,000 apps submitted this month (over 1,000 per day) with an average overall price of $1.23!
Since we are discussing entertainment, considering games alone there are over 300,000 games available with an average price of $0.66!
In the past a single console game could cost anywhere from $40 to $100 with the only alternative being an arcade. Presently almost every new game has a basic free version.
Perhaps the largest opportunities for exponential technologies are in business. Technology is reducing the time it takes to transfer money and therefore increasing the flow rate of money. Services such as PayPal make it extremely easy to make remittance payments (peer-to-peer) at no cost or a small fee for business transactions.
Emerging digital currency technology is further reducing friction and increasing the flow of money by allowing for a reduced barrier to entry. As digital currency gains wider adoption the world’s unbanked in underdeveloped parts of the world are able to participate in financial transactions with only a smartphone and app. As the world’s unbanked come online (both technically and financially) it is an opportunity for existing businesses to have an enormous global customer base. For new entrepreneurs it is the opportunity to start a new venture with very little capital.
For an interesting visual of the flow of money check out the first open general ledger known as the Blockchain. Here you can see the flow of money from place-to-place in real-time.
Abundant education is also facilitating business. Consider that you can now view a course on nearly any subject at any university for free. If you are not concerned with credentials you can use this information to form a specialization, overcome a challenge, or meet others with like interests who have the potential to become business partners, business peers, or employees over time.
Communities of entrepreneurs such as Teamstory, or less niche communities such as Twitter and Facebook allow individuals from all walks of life to connect and share information. I am particularly fond of Twitter given the ability to loosely connect with others who are willing to share information. Twitter allows you to explore different aspects of the world without the formal commitment of a friend request. Teamstory is great for entrepreneurs as I find it to be a good place to share progress, seek feedback on potential challenges, and to learn new things from other entrepreneurs and startup teams.
We are living in a time of unprecedented opportunity. Technology is having a direct impact on my health, entertainment, and business and this impact is appearing to increase exponentially. Technology has improved, and continues to improve my daily life.
For a deeper understanding of how exponential technologies are changing the world and the way we live I highly recommend the book Abundance by Peter Diamandis.