Ten years is not a long time. For those who are in their 20s, it might seem like it. As we get older, however, time seems to move at a faster pace.
To give an example of how things change, take a look at this picture of a smartphone.
Does it bring back any memories?
It is important to note, that in 2010, this was high tech. In fact, it was CNET's choice as best smartphone for 2010.
We often forget how things were not so long ago.
I found this mobile phone plan from back then.
The device launches on 4 June for only $199.99 with two-year contract and minimum voice and data plan of $79.99 per month that includes 450 Anytime minutes and free unlimited calls to mobile phones.
A decade ago, a smartphone plan cost $80 a month with a limit of 450 minutes. It is likely the data plan was additional.
We are seeing how technology builds upon itself.
Going back a couple hundred years, it is easy to overlook the impact of the saw mill. This changed the nature of construction.
Just consider what life was like before this was invested. Each board had to be manually shaped out of a tree. Thus, all construction took a long time.
After the saw mill was invented, it sprung the foundation for the building of not only home, but other plants and business. Essentially, this parlayed into the first age of industrial production. Without the buildings, nothing could take place inside.
The impact of this technology lasted for hundreds of years. It is our link to the shift from the agrarian age into today.
We see similar things happening right now. The example of the mobile phone from a decade ago illustrates how technology changes. Imagine what this technology will look like in another decade.
What previous impacted society for hundreds of years, we are now in an age where it is measured in decades. The mobile phone is now approaching 40 years old. There is a good chance that it will not be around in another decade since we will see communication morph into something else.
When we start to look into an area such as bio-tech, the timeline is measured in years. The impact that is being made is remarkable compared to just a few years ago. By the middle of this decade, we will see radical improvements in this arena.
Technology is getting more powerful while also providing a larger impact upon society. To me, it is the one the largest factors to consider going forward. All business, economics, and finance are affected by technological developments.
Things are simply moving ahead at a faster pace. This is something that is going to impact each of us.