The industrial revolution contributed to the popular belief that necessity is the mother of invention, but as we moved from activities in the real World to the Virtual, invention became the mother of necessity. It is not just the play of words, it is an entrepreneual evolution to envisage need rather than answer it. Today, therefore many add-ons in the virtual World are luxuries not needed in the orthodox sense of the term.
Yet another vital factor of invention and investment is shelf life of such inventions, there quick applicability and global adaptability. The dynamics of the virtual World is therefore totally different from the real World. Travel as we do from the real into the virtual, we notice that we occupy the said planet on terms totally different from our existing knowledge repository of physics.
Till the other day we defined matter as a function of weight and space. In the virtual World, there is so much “matter” which does not “weight” or “occupy space” in the traditional sense of the expression. We don’t ask questions relating to gravity and conductivity of matter in the virtual World. The nuances of matter have shifted from the logarithms of elements to the algorithms of structure. To understand the shift in the physics is a vital starting point of all and everything that happens after the click and on the monitor screens.
Entrepreneurs have noticed the power shift in this virtual World. Toffler’s treatise apart, the virtual entrepreneur lives in and occupies space in global village. Even as traditional scientists are perfecting IPR regimes, the software men are throwing up transparent algorithms and making hard earned formulae of yesterday ridiculous today. So transient is utility but so continuous in the chain is the formulae that entrepreneurs need to know quickly, forget, adapt to the new and create the newer. In short, like cricket 90, 50 , now 20. Time is nano and value macro. It is this challenge that the virtual entrepreneur needs to meet.