“The Internet being integrated in some interesting, seamless, pervasive and sometimes even invisible ways.”
According to Steve Case, this will be the third wave of the internet’s maturity.
When Case founded AOL, only 3% of Americans had access to the internet. Case was, therefore, very much an integral part of the ‘first wave’ of the internet. The ‘second wave’ brought about the services and applications we have become so accustomed to using in the last ten years.
Case’s framework revolves around entering a third stage of the internet, and a set of principles he likes to call the 3 P’s: Partnerships, Policies and Perseverance.
When AOL Started, Only 3% of Americans Were Online
The inspiration for Case’s principles came in college, while reading Alvin Toffler’s book, The Third Wave, which Case describes as ‘really mesmerizing’. In summary, the first of three waves that have shaped humanity were: the agricultural revolution; the industrial revolution; and finally, the technological revolution.
Having worked on the Internet from the earliest days, Case has created his own Three Waves, based entirely on the maturity of the Internet. Most importantly, he believes we’re about to enter the third stage.
To truly understand the third wave, let’s understand the first two:
The first wave was building the internet. Case says:
“The foundational technologies, the software, the networks and servers, actually building the on ramps to get people connected.”
At the start, no one really cared - but 15 years later, by 2000, they sure did.
The second wave has spanned the last 15 years: building apps and services on top of the internet.
“That's really been the focus on their great iconic companies that the second wave like Google and Facebook.”
Case believes specific industries will be disrupted during the Third Wave: healthcare, education, transportation, energy, food and financial services. Looking down that list, it looks as though Case envisions a state of maturity and confidence in connectivity where the internet will better address our most basic needs as humans.
All entrepreneurs need to be aware of where the puck is, as well as where it’s going. Being at the right stage of the bell curve is essential to being a successful company. So if Steve Case is to be believed, the third wave might be worth looking into. After all, if anyone knows about the ripples of the first wave, it’s the guy who helped pioneer it.