First coined in 1995 by Bill Gates, Friction Free Capitalism is, simply, the “enhanced efficiency of markets due to the ‘coming’ Internet revolution”.
NOTE: Learn how our Directors and Serial Entrepreneurs are leveraging NBN and Friction Free Capitalism on our new FrictionFreeCapitalism.com video page.
Doing a search on this term brings up reference to the author, book and definition, but also interestingly enough, several articles by established media outlets, also published back in the mid-90s, that relay a vision of the future of the Internet based on this term.
It’s amazing to see the accuracy of these articles when looking back from a world driven by Friction Free Capitalism. One look at today’s landscape (Google, Amazon, eBay, Angie’s List, e*Trade, etc.) and it’s hard to imagine pre-Internet times without today’s conveniences and transparency.
Prior to the Internet, just think about what we had to go through in order to do comparison shopping, check the credentials of a potential business partner, find out how a company treats their customers, what the best product is for our needs, quickly learn a craft, trade or skill, or simply get a quick answer to a question.
The Internet has removed so many barriers that it has completely changed our world in only a short couple of decades.
Even though it’s hard to imagine living in a world prior to the Internet, this is only the beginning. Right now we are in the midst of the biggest boom in the history of startup companies, and we’ve just barely seen the tip of the iceberg.
In 10 years, it’s predicted that approximately 75% of the companies that are out there…don’t yet exist today. That’s a big number, and it doesn’t take a lot of imagination to see how “right now” is a great time to get involved with startup and early stage companies.
It’s, as they say, a booming market.
Don’t forget to check out the new NBN “video page” to view our position in the world of “Friction Free Capitalism” with our “Friction Free Capitalization” model – at: FrictionFreeCapitalism.com