Erik Brynjolfsson Quotes

It's gotten more open and easy to create a business on the Internet. That's a really awesome thing for entrepreneurs and for the world.

Well, another market is being created now out of Internet technology.

The Internet creates as well as destroys. Social networks, search advertising, and cloud computing are multibillion dollar industries that didn't exist 10 years ago. They are products of the same force that has rendered the Postal Service's core business obsolete.

Now along comes the potential creative destruction brought by a different distribution methodology, the Internet.

The internet has become one of the motors of the 21st century economy, allowing all of us to reach a global audience at a click of a mouse and creating hundreds of thousands of businesses and millions of jobs.

There's no locality on the web - every market is a global market.

Not since the steam engine has any invention disrupted business models like the Internet. Whole industries including music distribution, yellow-pages directories, landline telephones, and fax machines have been radically reordered by the digital revolution.

We all know how the Internet has changed the lives of consumers: it's changed how we communicate, how we shop, how we meet people. It's changed things for businesses too.

It's a lot easier to gain traction when there is such a great proliferation of Internet access. The velocity at which some of these startups are gaining traction is mind-boggling. Companies like ShoeDazzle, Stella & Dot, Gilt, Groupon - these companies are going from zero to hundreds of millions in revenue in three years.

The digital economy is impacting us in a big way.

The Internet is the last place where there is actually a free market on Earth.

There has been a seismic shift in the business world. The great classical business principles still hold true but they need to be fused with cutting edge internet technology.

Some of the most innocuous inventions have proven earth-shattering, with reverberations felt around the planet. The Internet is the poster child for disruptive technology, but even such inventions as Amazon's Kindle and Apple's iPod have rocked their respective industries by changing how we entertain ourselves.

I have been quoted saying that, in the future, all companies will be Internet companies. I still believe that. More than ever, really.

It seems preposterous now, but Amazon began as a bookstore.

When we launched the WineLibrary website in 1996, I didn't even own a computer yet. I just understood that there was an opportunity here to market in a different way.

Five years ago, we thought of the Web as a new medium, not a new economy.

Regardless of how it's done, transaction costs will continue to plummet as computers get more powerful. Low transaction costs are a wonderful thing if you're in the transaction business. They're wonderful for consumers too, making it cheaper and easier to buy things and creating new things to buy.

Now it's easy for someone to set up a storefront and reach the entire world in very modest ways. So these technologies that we thought would dis-intermediate traditional sellers gave more people the tools to be sellers. It also changed the balance of power between sellers and buyers.

I think the dot-com boom and bust represented the end of the beginning. The industry is more mature today.

Just as the PC bled back into industrial economy, I think the Internet is going to bleed back into our overall economy and have a transformative effect on major sectors that we don't yet foresee.

I would think that most of the online business will be conducted by traditional retailers and that over 90 per cent of the e-retailers will, in fact, all go out of business.

There certainly was a lot of potential in the air for doing a magazine which focused on the way business, in particular, was being transformed by the Internet.

The Internet doesn't change everything. It doesn't change supply and demand.

People are out there saying we have to devalue our properties because of the Internet, but it hasn't even come into play!