Smartphone Capitalism success is quite simple.
Develop business models that help people have a voice as consumers. D eal directly with sellers as buyers. Cut-off market brokers. Disrupt the cozy relations between union bosses, professional guilds, and government bureaucrats.
Be part of a peaceful revolution that is about to replace crony capitalism with smartphone capitalism.
Smartphone capitalism, a modern version of the old free enterprise American system, is restoring consumers at the center of the economic universe—a space that used to be occupied by union bosses, business associations, and government bureaucrats.
The consumer is the beginning and ending of every activity and every function a company performs. And thanks to mobile devices, individual consumers now have the power to make or break a brand by sharing their experiences about different products and services with other consumers, community advocates, and governmental and non-governmental organizations.
People everywhere are afforded the freedom to enter mutually beneficial relations, without an army of mediators that limit choices and boost the price of different products and services.
Yelp’s Financials as of 1/18/2015
Forward PE |
Qtrly Revenue Growth (yoy) |
Qtrly Earnings Growth (yoy) |
Operating Margin |
Revenue |
128.47 |
67.50% |
-- |
0.40% |
$338.30M |
Source: Finace.yahoo.com
OpenLabel takes Yelp’s model a little bit further by creating “consumer bar codes” for every product, which include broad information on company and product brands -- like certifications, carbon footprint, political donations, worker treatment, health issues, safety records, animal welfare.
Uber has developed an app that broadens consumer choices when it comes to traveling from point A to point B, in essence breaking the local taxi and limo service duopoly.
What’s next -- the heating oil service industry? The hospitality industry? The real estate industry?
That’s for smartphone capitalism entrepreneurs to decide. But it won’t be easy, as they will face an uphill battle against the forces of crony capitalism.
