From 1876 to 1886 the number of telephone lines in the world went from 1 to over 150,000. Over the past ten years, the internet has merged with the telephone, giving us a wealth of new ways to communicate.
The first generation internet has replaced the telephone in usefulness, and we must invest in its infrastructure, creating jobs and strengthening our economy. As the internet and smart phone have merged into a global communications device, so will business models continue utilize the internet, as they did with the telephone.
William Orton, President of Western Union, turned down an opportunity to buy one of Alexander Graham Bell's patents for $150,000. He said "What use could this company make of an electric toy."
We should not make the same mistake.