These low barriers to entry for people willing to back their concept also results in low risk for participants, because the key capital investment is time. If an idea is not commercial, that knowledge can be applied to a different project.
Innovation is rarely wasted. By its nature, the digital economy is Darwinist. It fosters a battle of the best ideas and concepts. It is a place where natural selection occurs, resulting in the survival of the digitally "fittest".
If an idea does not gain currency, the idea often evolves and develops, mutating into a stronger idea either in the hands of the original owner or in the hands of someone else.
This new, connected renaissance has already resulted in radical changes to the way business operates. EBay has displaced retail store dominance, sites like wotif.com and tripadvisor.com.au have changed the business model of the entire tourism industry, and mobile devices have changed the way we access information about the world around us.
But this is only the genesis of the next renaissance. The next burst of innovation could come in the area of analytics, business process improvement or any one of potentially dozens of different directions.
The best part of this next renaissance is that anyone -- from Macquarie Park in Sydney to remote Birdsville in western Queensland -- can participate in the beginning of the digital enlightenment.
The next Da Vinci or Steve Jobs could be in either place or anywhere in between. As long as the federal government's policies provide more expensive, less universal broadband, they are standing in the way of this process occurring.
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