Last week’s Consumer Electronics Show (“CES”) put a spotlight on Internet of Things (“IOT”) technology and its leading application, the smart home. The term Internet of Things was coined 17 years ago and has had a couple of waves of enthusiasm in the past. Has it now arrived? I’m skeptical because I don’t yet see the killer app.
I first heard the phrase Internet of Things (“IOT”) in 2000, from an entrepreneur out of the MIT Media Lab who was pitching a start-up to develop a networking technology to enable the IOT. That start-up became Ember and the technology evolved to ZigBee. In 2012 we sold Ember for about 80¢ on the investor dollar. The management team got a big bonus but not the “change your life” money they had hoped for.