XU Magazine - Issue 06

Fat, Dumb and Happy (At least for a little while…)

global economy-01

I first learned to program in 1969. Fortran (endless stacks of cards you protected with your life lest they fall down and get scrambled) and a brand new, (on the mainframe), software language called ‘Basic’. Since then I have seen the following major shifts in technology (and the way the world works) every eight years or so…

1. The early 1970s: Mini-computers, redefining how SME companies operate
2. The late 1970s: Micro computers, revolutionizing the world
3. The mid 1980s: Local Area Networks (think Novell) and Artificial Intelligence Programming
4. The early 1990s: Wide Area Networks (think Cisco)
5. The late 1990s: The Internet: Dot Coms
6. The mid-late 2000s: The Internet: Business to Consumer (Amazon, Netflix, etc.)
7. The early-mid 2010s: The Cloud: Social Media and Business to Business Apps

Wow, I feel old-

At every transition I watched the same pattern: the ‘old guard’ were doing so well, there was no sense of urgency to change what they were doing. Profits were high, and technology companies felt they had ‘locked in’ business clients. For example, in the early 1980s there were several major mini-computer manufacturers. These included, IBM, Wang, Hewlett Packard, Texas Instruments, Digital Equipment Corporation, and a few others.

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About the author

Peter Vessennes, CEO Profitsee

With over 30 years experience in the financial industry, Peter is the CEO and founder of ProfitSee, a financial software service for financial professionals, CPAs, and ProAdvisors. ProfitSee is an all-in-one financial analysis and budgeting software from seasoned financial experts. ProfitSee helps business owners and financial advisors alike gain powerful insights to manage cash flow, grow profitability and increase valuation.