The Dawn of the Technology Economy
DOI link for The Dawn of the Technology Economy
The Dawn of the Technology Economy book
During the 1990s, observers of economic, social, and technological change began to perceive that the world was changing in increasingly rapid and intense ways. We witnessed the emergence of the home computer as a device used for something beyond video games; the first Internet web browser and e-mail accounts; a need for multiple phone lines for Internet access and fax machines; a growing array of miniature electronic devices enabling constant communication-pagers, cell phones, personal digital assistants, and BlackBerries; and increasing opportunities to purchase items and pay bills online. We also witnessed a burgeoning government presence online, from e-government’s delivered information and services to e-democracy’s promise of new forms of civic engagement. New industries emerged, like Internet and application service providers, developing because of the pervasive use of and
reliance on technology and furthering usage and reliance upon technology through the generation of new services and products. Telecommunications, technology, information, and Internet companies sprouted and grew like weeds, growing at an unprecedented pace economically and passing business plans around venture capital funds like cards around a poker table. Public offerings of these companies made instant millionaires out of software programmers and other techno-geeks. Painted orange-and-white lines began to appear regularly on city streets, mapping routes with techno-babble directions and signs of where companies could tear up streets to lay fiber-optic cable. Amid these changes, and in many respects driven by these changes, the U.S. economy rode the largest bull market in U.S. history.