1. Bri Boysen and Shayna Blumenthal

2. Core Concepts  Financial Capital Criteria and behavior for those agents who possess wealth in the form of money or other paper assets  Production Capital Embodies the motives and behaviors of those agents who generate new wealth by producing goods or performing services

4. ANALYSIS OF SMART PHONES AND THE CURRENT FRENZY: The journey from 1G to 4G

5. Timeline  1G – 1973 to 1990  2G – 1990 to 2002  3G – 2002 to 2011  4G – Present day

6. Irruption – First Phase  1973 The first handheld cell phone was developed in the US by Motorola  1996 Nokia 9000 first smartphone  2002 First Blackberry released  2007 iPhone released

7. Risky Business  By definition, technological revolution implies risk  New products, unknown markets, no guarantees  Would society favor the cell phone?

8.  “By the end of Irruption, the technological revolution is hugely successful, but there is not enough of it; the old industries that are not disappearing show disappointing profits and modernization can be a difficult and often protracted process with relatively high risks. The clearly favorable externalities and institutions that will propel the diffusion of the new paradigm are not yet there.”

9. Frenzy – Second Phase  Crisis, mania  Bifurcation  Increasing tension  Current phase with invention of Smart Phone  iPhone and Android compete Microsoft enters competition

10. Nokia’s Partnership with Microsoft  Feb. 11, 2011 Initial agreement  April 21, 2011 Officially signed  Will this partnership be successful in competition?

11. Synergy – Third Phase  Not there yet. When will we get there?  We will see increased employment and the extension of markets, according to Perez

12. Maturity – Fourth Phase  A long ways away  Defined with success and prosperity  Eventually fades away with ‘big bang’ of next surge