The iPhone 8, expected to be launched on September 12, is already an online media sensation. And with good reason. The release of each new iPhone is a technological shock that has the capacity to reconfigure a large chunk of the global economy. Other new products offer incremental improvements that over time can have a cumulative effect on economic structure. But a new iPhone isn’t so much a new device as a new ecosystem. Each new iPhone opens up technological niches that are then exploited by thousands of other companies, from giants such as Facebook to small developers of all kinds of gadgets and apps.
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