The Internet of Things is leading to a shift from a business based on products to a business of services, triggering new legal issues to which companies might not be prepared.
The title of a famous article of 2011 from Marc Andreessen is Why software is eating the world?
At that time he was commenting about the digitization of businesses, mentioning, among others, that the world’s largest bookseller, Amazon, does not own any book shop. This example might be accompanied by more recent examples referring for instance to Uber, the world’s largest taxi company, which owns no taxis or Airbnb, the world largest accommodation provider, that owns no real estate.
But what’s happening now with the Internet of Things?
Marc Andreessen certainly has a very deep understanding of the dynamics of the technology sector. And indeed, after 5 years, the Internet of Things is fastening such technological revolution with a major shift from a business based on products/hardware to a business of services i.e. value added services that can be provided through software.