More than a billion global users now watch hundreds of millions of hours of YouTube video every day. More than half the video is consumed via mobile devices, where the average viewing session now tops 40 minutes. Adele’s “Hello” single racked up 100 million views in its first five days.
Netflix reports that its 69 million users generate 400 billion interactions(searches, plays, pauses, and so forth) per day.
Back in the real world of atoms, meanwhile, Uber and Lyft continued to transform the transportation business, with Uber now delivering more than two million rides per day.
Jeff Bezos’s Blue Origin and Elon Musk’s SpaceX for the first time landed rockets back on Earth.
In The Wall Street Journal’s running tally, there are now 143 members of the “billion dollar start-up club,” young firms that are valued at a billion dollars or more. Of these, 87 are based in the US, and 7 of the year’s 11 billion-dollar exits — IPOs or acquisitions — were American. No doubt, many of these firms are overvalued. But the possibility of overvaluation is a crucial part of the environment of investment and experimentation that makes real innovation possible. There will be flame-outs, but many important and long-lasting advances, too.
Bio-tech firms accounted for 9 of the top 10 stock gainers among firms worth more than $1 billion. And for good reason. We are on the verge of an information revolution in medicine, where a combination of personal technology and a radical new understanding of the body’s information networks can transform a high-cost, low-productivity sector into an exciting growth industry.
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