There are many people who are or will be greatly affected by the product announcements Apple made yesterday. Depending on your current smartphone platform, status as an early adopter or not, or involvement in a competitor company, your next few months could be anything from tech paradise to hell on earth.
Yahoo! has one. Facebook has one. Yelp has one (more detail below). Even TripAdvisor is starting to get in on the action. What am I talking about? APIs, or “Application Programming Interfaces”. In laymen’s terms, the tools that developers use to display other people’s content on their website or app. Or, to put it the way The Economist does, the digital tool that has exploded in recent years and may affect how technology is used in the future.
One of the most beautiful things about a free market is when people try to find innovative ways to take other people’s money. This can be done by introduction of a new product or service, or the re-purposing of an existing good. Sometimes, one doesn’t even have to do anything to bring in a new source of revenue.