Today's stock market actually hates technology, as shown by all-time low price/earnings ratios for major public technology companies.

Technology is like water; it wants to find its level. So if you hook up your computer to a billion other computers, it just makes sense that a tremendous share of the resources you want to use - not only text or media but processing power too - will be located remotely.

An awful lot of successful technology companies ended up being in a slightly different market than they started out in.

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