The technology industry is shifting from a trickle-down approach, where innovations start in high-end products and eventually reach the mass market, to a trickle-up approach, where innovations start in low-end or new-market footholds. This is due to the democratisation of technology; as more people gain access to technology, there is an increase in the potential market for new innovations.

Apple’s iPhone is an example of trickle-down tech; it was initially a high-end product that gradually became a mass-market item. Conversely, Facebook’s growth is a prime example of trickle-up tech; it began as a product for college students before expanding to a broader audience.

The shift to trickle-up tech is also driven by the commoditisation of technology. As technology becomes more affordable and accessible, it allows for a larger market base for new products. This means that companies can no longer rely on a trickle-down approach and must instead focus on creating products that appeal to a broad and diverse audience from the outset.

The shift to trickle-up tech has significant implications for tech companies. It requires a new approach to product development, marketing, and distribution. Companies must be willing to take risks and innovate, rather than simply refining existing products. This shift also presents opportunities for new players to enter the market and challenge established companies.

Overall, the shift from trickle-down to trickle-up tech represents a fundamental change in the technology industry’s dynamics. It is a shift that is likely to continue as technology becomes increasingly democratised and commoditised.

Go to source article: