In a recent interview I did with Craig Moffett we discussed why there is a “TMT” sector when it comes to industry classifications. TMT stands for technology, media, and telecoms, and what unifies them is that all deal in a world of massive up-front investment — i.e. huge fixed costs — and then near perfect scalability once deployed — zero marginal costs.

Each of these three categories, though, is distinct in the experience. …Another way to think about these categories is that if reality is the time and place in which one currently exists, each provides a form of virtual reality. — Read More