As of the 29th of June 2017, the world quietly passed a 10 year landmark in modern history, the launch of the original iPhone. And while each year consumers look forward to new and exciting features in the latest smartphone launches, it is worth pointing out the dramatic shift that has occurred during the iPhone decade. From examining how Apple’s business has shifted since the first iPhone, to how the dawn of the smartphone age moved markets, today’s episode will be a look at the economic impact of the iPhone, telling the story of how a revolutionary consumer product changed industries and changed lives.

The following points will be discussed within the episode:

How the iPhone changed Apple:

• Sales distribution, how the iPhone came to control ⅔ of Apple’s sales
• Financial Results, why Apple is currently the world’s most valuable publicly traded company
• Industry position, from underdog to innovative leader

How the iPhone affected periphery industries:

• Music, shaking up music players and record labels
• Camera, why photos are more relevant than ever even if the digital camera is not
• Advertising, how “influencers” were born, and the fundamental shift from print to digital
• Apps, the birth of a new billion dollar ecosystem

How the iPhone changed the life of the assembly line worker:

• The reason why Apple manufactures in China and not elsewhere
• How assembly line work provided a path to escape poverty
• How Foxconn built iPhone city and the economy that sprung up around it
• Why location economies and political leaders play key roles to attract factory jobs
• Addressing the criticism of exploitation

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