Thom Forbes: The Internet Of Things Is Out Of The Nest

Source: "Observers yesterday were pondering why Google “wants a $3.2 billion thermostat?” as Lex's Robert Armstrong asked Financial Times reporter Joseph Cotterill about the company’s purchase of Nest Labs Monday — knowing full well that his answer would delve into the huge potential of “The Internet of Things.” 
Cotterill responds with two cautionary words: “Internet fridge” circa 1998.  “Samsung and LG would sell you these refrigerators which would tell you when your milk was running out, as if you were somehow incapable of looking into [it] yourself,” Cotterill reminds us. “And so that kinda really bombed.” The difference today is that the market is much bigger and wider and smarter than it was when those devices were introduced.
“The networking giant Cisco predicts a world where 50 billion devices could be connected to the Internet by 2020,” writes Avi Itzkovitch in the September issue of Ux Magazine. “Collectively, this Internet of Things will be able to provide cloud-enabled experiences that could profoundly change many aspects of everyday life, both in and out of the home.”