Start the Year With a Fresh Business Cycle
Updated: Oct 3, 2019
This week there were many stories about uncertainty in the stock market. And then came the news about slumping iPhone sales. Should we be surprised? Steve Jobs launched the iPhone on January 9, 2007 during the heyday of the Blackberry, which I owned and loved. As usual in the rise of a new market segment (varying types of “smartphones” have been around since 1996) there was the battle for dominance and Apple won and has made a ton of money. But with all that cash, what new innovations has Apple brought to the market? I’m not talking about new versions but innovative products that build new market segments. In that regard Apple’s creative team has been asleep.
So, the market is jittery that iPhone sales are flattering put those of us that come from technology see no surprise that this segment is beginning its descent. The iPhone has had a remarkable run. So, the question becomes will a market challenger emerge with something infinitely new? I don’t mean Google who will only fight for the shrinking market share with its Android operating system designed for the power user. Sadly, Microsoft has never been able to enter the market primarily because they are not an innovator and the senior management running the company since Bill Gates left has only entrenched that position.
Now is the time for the VC community to back a new player with a significantly new idea. This is the standard course in the technology industry and typical of most business cycles. It will also give the market something to get excited about. 2019 will be a tough year for anyone in the market given a so-called businessman President who obviously wrote no part of the “Art of the Deal” since he can’t make one he can stick with and upsets the markets with every tweet. Add to that a new Democrat-controlled House determined to rollback the worst of Trump’s ideas. We still have the Mueller investigation and the housing market slowdown. And let’s not forget the social media still has it comeuppance as it continues to show morals like our president’s. It would be a great time for a big consumer technology launch. I’ll be interested to see if the Valley has anything planned.