1/ I was rereading Softwar (the 2004 book on Larry Ellison and Oracle) this morning, and the main thing that stood out to me is that pretty much every idea in software today was already basically around 20 years ago
2/ Twenty years ago, everybody in the software industry was already debating whether "best of breed" applications would triumph over integrated solutions from Accenture ("one throat to choke")
3/ Twenty years ago, everybody in software was already complaining about how every company's data was getting siloed across a hundred different databases daisy-chained together by hacky ETL scripts, instead of a single system of record
4/ Twenty years ago, the software industry was already talking about transitioning datacenters from scale-up to scale-out computing, i.e. "making a bunch of cheap little computers 'look' like a big computer"
(Notice this is the whole premise of modern cloud computing)
5/ *Thirty* years ago, the software industry was already talking about how "internet computing will centralize data storage in huge databases and processing on large servers, while distributing information on demand across a global network"
...aka the Cloud, 11 years before AWS
6/ Twenty years ago, the software industry was already convinced that the future of the business model would be selling "software as a service"!
7/ Contrary to popular belief, scale-out computing, the cloud, SaaS, etc. were all ubiquitous ideas by the 90s. The irony of Softwar is that Oracle had little to do with the ultimate success of these ideas
Predicting the future is easy, it's just making money that's hard!
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1/ If you really believe LLMs will dramatically compress the cost of software development in 3-5 years, doesn't this obviate the reason for independent software vendors to exist?
This doesn't seem obviously crazy to me - it'd just be a return to the days of mainframes
2/ When IBM invented the mainframe in the 50s, there were no independent software companies - IBM bundled their hardware with a COBOL compiler, which customers then used to write custom software themselves
3/ The world's first independent software vendors (e.g. ADR, Informatics, MSA) all started in the 60s as contract programmers - basically, consultants hired to write custom COBOL for clients - who then realized they could resell that custom code to multiple customers
1/ This internal 2007 Nokia presentation on the first iPhone is a really good example of how incumbents actually get disrupted
Oftentimes, the incumbent already knows what needs to be done. It's just that organizational incentives inhibit the incumbent from doing it
2/ This slide deck was posted on Hacker News earlier this week but just got taken down
I have no idea how they got their hands on a copy but it does look like a legit internal Nokia presentation from strategy team at the timenews.ycombinator.com/item?id=427247…
3/ Contrary to popular belief, people at Nokia in 2007 understood that the iPhone was a big deal
The iPhone's touchscreen would "set a new standard of state-of-art"
Nokia's own user interface paradigm was "in decline"
1/ I just finished a 2.5 week trip through China today, my first visit in about a decade. I was there for family reasons, but it also happened to be my first time in the country as a tech industry observer
My amateur travel journal on the China tech market -
2/ OBSERVATION #1 - Yes, everything really does run on WeChat
If you're a foreign traveler visiting China, you really must set up WeChat Pay and Alipay beforehand. For me, this was the Chinese equivalent of Whatsapp + Chrome + Venmo + my credit card + my subway card + Doordash
3/ I didn't use cash a single time on my 19 day trip. Everybody took WeChat Pay, from Michelin-starred restaurants, to McDonalds, to butchers at the farmers markets in tier 3 cities, to performing musicians in national parks
1/ Just caught up with a few investor friends in the consumer space last week about Ozempic and GLP1s
As far as I can tell, everything basically hinges on: how much does it matter that every consumer product in the world depends on a tiny cohort of super consumers?
2/ What happens if it turns out we’ve actually invented an all-purpose anti-addiction drug?
I suspect it’s not properly appreciated how many consumer categories follow a power law distribution of consumptiontheatlantic.com/health/archive…
3/ The top 9% of US adults account for 34% of US candy consumption
1/ The more time I spend in the corporate world, the more I understand why everybody just hires ex-consultants and investment bankers
It’s not because McKinsey or Goldman Sachs actually teach you how to do the job, per se
It’s because hiring undergrads is a free rider problem
2/ Ultimately, new graduates don’t actually know how to do anything
This is less intended as a value judgment (I was the same when I graduated from Amherst), and more as a statement of fact that elite American universities are not intended to be trade schools
3/ Even if you already know “hard skills” like accounting or SQL, you usually still need 2-3 years to acquire the requisite soft skills to work independently, eg how to present to execs, how to make your ideas clear, how to convince coworkers to do stuff they don’t want to do…