The Unlimited Potential
What do I mean when I say, “the unlimited potential of the internet?” The word to emphasize here is potential. The amount of data available is massive, and we have just touched the tip of the iceberg for possibilities. Currently, the emphasis is on moving to mobile, cloud, making EVERYTHING available wherever you go. As a result, very few startups have taped into this ‘potential’. To give an example of an interesting use of data, Hunch, “provides smart, taste-driven, highly-customized recommendations,” based solely on analyzing the edges (followers) on Twitter. Furthermore, using only this network, it can predict your preferences (on some controversial topics) with 90% accuracy. Hunch has used the structure of Twitter to profile characteristics of its users.
There will be a transition to more startups doing similar things to hunch. Startups will shift from generating data to analyzing and manipulating data with clever algorithms for awesome results. Think of all of the possibilities.
Currently: USER + PRODUCT = DATA
Soon: USER + DATA + ALGORITHMS = INTERESTING RESULTS