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Here is why "too little spending" occurs: Smartphone Revolution. Here is why: 1) No more need to buy a dedicated device for photography and video recording 2)

Here is why "too little spending" occurs: Smartphone Revolution. Here is why: 1) No more need to buy a dedicated device for photography and video recording 2) No more need to buy a Speech Recognition specialized software 3) No more need to buy a specialized remote control 4) No more need to buy a flashlight 5) No more need to buy a landline wired phone 6) No more need to buy a sound recorder 7) No more need to buy a physical storage (CD, DVD, etc) 8) No more need to buy a ... you can continue All this affects a lot of companies. Just think how many of them will either run out of business or will stay in a niche consumer mode. There are only two smartphone operating systems controlled by basically two companies. There are only few hardware for smartphones companies, like silicon fabs, and several fabless design companies. Anyway, most of the needs of a typical consumer are satisfied with only one device: The Smartphone

vsskanth 7y ago
An episode of the excellent econtalk podcast [1] discusses a similar theme. There is massive levels of dematerialization happening right now since so much commerce and activity has moved to the internet and general purpose computing devices. [1] https://www.econtalk.org/andrew-mcafee-on-more-from-less/ https://www.econtalk.org/andrew-mcafee-on-more-from-less/
aeternum 7y ago
I'm not very convinced. Yes the smartphone has eliminated the need for some of those devices, but there is now a rich market for accessories: Wireless chargers, cables, battery backups, expensive phone cases, cheap phone cases, selfie sticks, phone lighting accessories, lenses. Plus smartphones create an entire economy of their own in terms of apps.
donw 7y ago
In Diamond Age by Neal Stephenson, your position in society is reflected in part by the uniqueness of the goods you own. Poor people have lots of flashy, brand-name merchandise. Wealthy people, on the other hand, own things that are hand-crafted out of natural materials, often bespoke to them. News for the masses is flashy, digital, and tailored to the individual; news for the elites, the top of the top, comes printed on real paper, just like they did in the old days. It's not that the elites are Luddites, eschewing technology. Rather, it's a very subtle part of their lives, a hint of fennel as opposed to a tablespoon of cayenne. I suspect this is not unlike where we are going. Smartphones, tablets, and laptops have swallowed almost every other electronic device, and you don't really even need to upgrade that often. I pick up a new iPhone every four years or so, and mostly just for the camera upgrades (and a fresh battery). I suspect the trend for desiring high-quality, locally-produced craft goods will accelerate. Raw materials may come from everywhere, but fast fashion is being replaced with sustainable clothing, and I don't see Generation Z being invested in the high-bling party lifestyle that my generation desired. Interesting times, indeed.
masonic 7y ago
No more need to buy a specialized remote control Note that Samsung stopped providing IR ports in the Galaxy series after the S6. Is it typical that other vendors still provide IR?

vsskanth 7y ago

An episode of the excellent econtalk podcast [1] discusses a similar theme. There is massive levels of dematerialization happening right now since so much commerce and activity has moved to the internet and general purpose computing devices. [1] https://www.econtalk.org/andrew-mcafee-on-more-from-less/ https://www.econtalk.org/andrew-mcafee-on-more-from-less/

aeternum 7y ago

I'm not very convinced. Yes the smartphone has eliminated the need for some of those devices, but there is now a rich market for accessories: Wireless chargers, cables, battery backups, expensive phone cases, cheap phone cases, selfie sticks, phone lighting accessories, lenses. Plus smartphones create an entire economy of their own in terms of apps.

donw 7y ago

In Diamond Age by Neal Stephenson, your position in society is reflected in part by the uniqueness of the goods you own. Poor people have lots of flashy, brand-name merchandise. Wealthy people, on the other hand, own things that are hand-crafted out of natural materials, often bespoke to them. News for the masses is flashy, digital, and tailored to the individual; news for the elites, the top of the top, comes printed on real paper, just like they did in the old days. It's not that the elites are Luddites, eschewing technology. Rather, it's a very subtle part of their lives, a hint of fennel as opposed to a tablespoon of cayenne. I suspect this is not unlike where we are going. Smartphones, tablets, and laptops have swallowed almost every other electronic device, and you don't really even need to upgrade that often. I pick up a new iPhone every four years or so, and mostly just for the camera upgrades (and a fresh battery). I suspect the trend for desiring high-quality, locally-produced craft goods will accelerate. Raw materials may come from everywhere, but fast fashion is being replaced with sustainable clothing, and I don't see Generation Z being invested in the high-bling party lifestyle that my generation desired. Interesting times, indeed.

masonic 7y ago

No more need to buy a specialized remote control Note that Samsung stopped providing IR ports in the Galaxy series after the S6. Is it typical that other vendors still provide IR?