Apple Inc. co-founder's statement that the Internet is not here to stay as the "Internet of Things" is a bubble that could burst is Armageddon for many, especially for tech start-ups.
Steve Wozniak spoke at the World Business Forum in Sydney last May and shared that the companies such as tech start-ups might have overestimated the appeal of Internet in connecting everyday objects, Time reported.
The Apple co-founder said, "I feel it's kind of like a bubble, because there is a pace at which human beings can change the way they do things."
In line with this statement by Steve Wozniak, the "Internet of Things" is defined by a tech website as the "scenario is which objects, animals or people are provided with unique identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction."
Cisco Systems, Inc., a multinational technology company, is among the frontrunners of the "Internet of Things." Its official website welcomes visitors with a rather vision-filled statement that reads, "Get ready."
The company believes the number of connected devices in the global scale is set to double from 25 billion in 2015 to 50 billion in 2020, a report by website The Motley Fool said.
Ever ambitious in its plans, Cisco recently posted an advertisement it named "The Last Traffic Jam" and it said it is creating a secure could and analytics solutions for "connected cities that will confine the traffic jam to yesterday."
Writing insights about Steve Wozniak's "Internet of Things" bursting bubble idea, Leo Sun of The Motley Fool wrote the bubble has not formed yet. The website said mainstream investors must participate in the market for a bubble to truly form.
"Yet this hasn't really happened yet," Sun wrote.
During the World Business Forum in Sydney, the forum website said Steve Wozniak tackled the next wave of technology and where this may be leading us, including insights as an innovator.
