Technology is an ever changing business, and it’s all a matter of cutting to the cheese first to get the big bucks. A few days ago I had a lunch meeting with a gentleman who owns a technology business, and we got into specifics about the industry and some rather interesting information came to light. He was pretty much explaining his whole career as an engineer and business owner. What sparked my interest was learning that large technology companies, especially businesses within the oil sector, are buying up patents for truly awesome engines that would change the world, just to put them away and hide from the public so they can keep earning more money from their core business. This happens in almost every industry that deals with technology, and I think it’s truly sad that it is even legal.
Some technology predictions could very well have turned out to be wrong just because of these dealings. But regardless of how you look at this, there will always be failed predictions, and the failed predictions that people have invested in so far have been billion dollar mistakes, literally. Socialcast put together a funny infographic with some of the most amusing and devastating business predictions dating back to 1875.
If I were Steve Ballmer, I would be ashamed of the prediction that the iPhone would never grab any considerable amount of the market. It’s almost in line with the decision the guy who initially created the DOS operating system made when he sold it to Bill Gates for $50,000. That really has to suck knowing your creation made someone else the richest man in the world. Well, that’s how business goes, and you have to stay alert and street smart in order to succeed. Have a look at some of these other failed predictions. and I am sure that you will reconsider making any rushed decisions in the future. This infographic might very well save you a bank account full of dough someday. #JustSaying
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