What’s your million (billion) dollar idea?
Cast you mind back just 30 years (If you can)….. mobile telephones were very rare and those that did exist were fixed into cars, extremely heavy, they cost upward of $ 5000 to buy (around $ 17,000 today) and install, and the calls were charged at a … well let’s just say a whopping amount. If you had a telephone, and the majority of the people in the world did not, it was a fixed land line in your home or office.
Microsoft word had not been released (and the Microsoft Office suite would not be for 12 more years – yep it is only 16 years old). The Apple Macintosh had not been released and we were using floppy discs to boot (start up) our computers, most of which were in big companies. The Internet as we know it did not exist. SMS text messages, instant messaging and email were years away from being widely used – we communicated face to face or over the telephone, if we had one at home we would use it after 7pm the ‘cheap call time’…. Most people were paid their salary weekly in cash and bought goods with cash or a cheque.
Oil was just being discovered in the UAE a little over 30 years ago, since then it has undergone a profound transformation to a modern state with a high standard of living. And all the gizmo’s, gadgets and luxuries that make our life seem like it is swirling in a glitz of 24 hour non-stop activity.
We are connected to the world on frequent flights, tweeting and socializing with people and organizations we have never met. We have become used to driving cars on cruise control with GPS so we never get lost in the desert, listening to the latest music on our iPod or iPhone which we can download within nanoseconds of their release. We can talk with our friends and family via Skype video calls on the other side of the world at no cost.
The one thing that is a constant is change, the speed in which we have witnessed innovation over the last 30 years will accelerate as new gadgets and solutions vie for our attention.
Looking into the future, 30 years from now, what would be the one innovation you would like to see – the million (or maybe billion) dollar idea?
Social scientists believe that people who are future orientated are more likely to save money for their retirement, make more money than those focused on the past or seeking gratification in the present. And are more productive and healthier with their short time on this earth.
I’d like to see technology that aids good behavior with money management, like the smart phone that has a spending alert popping up before you make a payment. Or the mind reading shopping cart that is not yet, but could be, connected to your budget.
What would you like to see in the coming years that will aid your behavior with money management?
Pic: Google Search.