Over the years flying overseas on a ‘public jet’ has become seriously more comfortable. Sitting back watching a movie, having something to eat and drink in air conditioned comfort ain’t that bad, despite the ill founded whinging. Yet, the time it takes to fly across the nation or globe hasn’t improved much in 50 years – or has it?
Yes, it still takes around 8 hours to fly London to New York, but it is less than 10% of the price it was in 1965. That means we only have to work 10% of the hours we did 50 years ago to afford the ticket. Time and money are inextricably linked. So on this measure it is 90% quicker to get there.
Something we should think about with what we sell isn’t just the time it takes to do something, but the time it takes to acquire the ability to do it.
There are many ways to measure money, but the the best measure I know of is time. It’s the only asset we can never get more of.
You should totally read my book – The Great Fragmentation.
I’m convinced that pretty much everything is getting cheaper as time progresses. Relative to incomes there are not many things I can think of that have increased in price over time (excluding property). I wrote about this in a recent business manifesto post:
Omnipresent Deflation – While tabloids decry the rising cost of living and most everything we purchase, the reality is the opposite of what is being reported. Energy, housing, technology, entertainment and even food are all getting cheaper in ‘real terms’. Rapid technological change, Moore’s law and developing nation labour forces will ensure this continues. It’s creating the great business revenue maintenance challenge as we quickly move the price of ‘free’.
This is good news for startups. The barriers to entry have been infinitely reduced to well, almost nothing. One such service that is so cheap it is ridiculous is fiverr.com While it may not represent a bastion of quality, there sure is a lot of interesting services one can get for $5. Some of which could form interesting fun stuff to pimp your new brand. Many of these services could never have been available at such low prices… while many would never exist at all without the craziness that goes with all things web. Here’s a few of my fav’s from Fiverr:
Another case of the tail getting longer and the impact of connected labour.
Just when it feels like it’s all been done, it seems that the next idea will just take that niche a little further, and they’ll be some people who demand it too.
With the home office now a kind of 1970’s term, get ready for the home factory.
And all I can say about the Piccolo CNC Bot is that at $70 each, I’m buying one the day they become available.