Tom Vu (TV): "Describe how Internet of Things matters? Why should anyone care? Should futurist, technologist, data hounds, product extraordinaires, executives, and common consumer need to understand what’s to come?
Michael Koster (MK):
There are two main effects we see in the Internet of Things. First, things are connected to a service that manages them. We can now monitor things, predict when they break, know when they are being used or not, and in general begin to exploit things as managed resources.
The second, bigger effect comes from the Metcalfe effect, or simply the network effect, of connecting things together. Bob Metcalfe once stated that the value of a communications network is proportional to the square of the number of connected compatible communicating devices. Since then it’s used to refer to users, but maybe Bob was thinking way ahead. Notice the word compatible. In this context, it means to be able to meaningfully exchange data."