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Tuesday, August 6, 2013

Top 10 Dumbest Tech Predictions of All Time

1. “This ‘telephone’ has too many shortcomings to be seriously considered as a means of communication.” — Western Union internal memo, 1876.

How many people have told me apps and smartphones of today have too many shortcomings to be seriously considered as a new means of communication. Wait ten years or twenty years…or fifty years from now and picture Android keeping always connected to your car, your house, your friends and family, your calendar, your music, your video entertainment, your 3D gaming and so on. The app revolution isn’t just about 2011 or even just this century. We’ll be building on these new platforms for the next century.  For the best stocks for the app revolution, please check out my report 50 Stocks for the App Revolution http://AppRevolutionStocks.com, including a handful I think could go up 500-1000% in coming years.
2. “I think there is a world market for maybe five computers.” — Thomas Watson, chairman of IBM, 1943. “The world potential market for copying machines is 5,000 at most,” IBM executives to the eventual founders of Xerox, 1959.
How many PCs per person have been sold in the last couple decades. How many of us will have tablets, smartphones, and Android running on our dashboards and in our refrigerators and who knows where else in twenty years. I keep saying we’ll see more than a billion smartphones sold annually in ten years….but that’s a fraction of the app-related technologies we’ll be using by then.  To see how I’d be trading Google, Microsoft and Apple and 47 other app stocks, please check out http://AppRevolutionStocks.com
3. “Where a calculator on the ENIAC is equipped with 18 000 vacuum tubes and weighs 30 tons, computers of the future may have only 1 000 vacuum tubes and perhaps weigh 1½ tons.” — Popular Mechanics, March 1949
Think there might be some form-factor revolutions coming for Android and iOS?
4. “I say to you that the VCR is to the American film producer and the American public as the Boston strangler is to the woman home alone.” — Jack Valenti, MPAA president, testimony to the House of Representatives, 1982
Content is king and the ability for us to access content from ever more devices and ever more places instantaneously will continue to drive the value of owning and creating content.  To find out my favorite content stocks along with 45 other app stocks, please check out http://AppRevolutionStocks.com
5. “Do not bother to sell your gas shares. The electric light has no future.” —Professor John Henry Pepper, Victorian-era celebrity scientist, sometime in the 1870s
Yeah, and don’t bother to sell cable company stocks like Cablevision and Time Warner Cable, because instant-access to all video content has no future. Oh, wait, scratch that….sell the cable stocks now!  Get my full analysis on why I think Cablevision’s a short and how to trade it, please check out http://AppRevolutionStocks.com
6. “Television won’t be able to hold on to any market it captures after the first six months. People will soon get tired of staring at a plywood box every night,” Darryl Zanuck, 20th Century Fox, 1946.
7. “The problem of TV was that people had to glue their eyes to a screen, and that the average American wouldn’t have time for it.”
− The New York Times, 1939

How many people tell me that apps won’t be able to hold onto any market after whatever time frame because people will get tired of staring at their small handheld screens.
8. “The subscription model of buying music is bankrupt. I think you could make available the Second Coming in a subscription model and it might not be successful.” Steve Jobs — Rolling Stone, Dec. 3, 2003
Netflix has tens of millions of subscribers paying for bad TV shows and mind-numbing movies just seven years later. Imagine how much people would pay up to subscribe if you could actually catch the Second Coming on video. On a related note, I figure the Second Coming, like the “revolution” won’t be televised.  To get my Revolution Investing rating on a scale of 1 to 10 for Netflix along with 49 other app stocks, please check out http://AppRevolutionStocks.com
9. “Airplanes are interesting toys but of no military value.” — Marechal Ferdinand Foch, Professor of Strategy, Ecole Superieure de Guerre
Have you thought about the impact that apps, smartphones and always-on-access to broadband tech is going to have on the military over the next few decades? I have.
10. “The wireless music box has no imaginable commercial value. Who would pay for a message sent to no one in particular?” — Associates of David Sarnoff responding to the latter’s call for investment in the radio in 1921

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