Entrepreneurial start-ups - The fifth wave of business trends
The new age economy is giving a candid message to entrepreneurs: This is critical as the entrepreneurs are leading the world’s 5th wave of exponential economic growth: Up until 1780, world economic activity was relatively flat, with the Gross World Product (all economic value creation worldwide) under US $200 billion for over 5,000 years. The world then went through exponential growth over 200 years from 1800 to 2000, doubling every 20 years, with Gross World Product growing from US $ 200 billion to $ 40 trillion. The four waves of exponential growth have been: 1. The Industrial revolution 2. The race for oil 3. Corporate capitalism 4. Financial markets Each wave grew and fell in power over around 50 years each. Each wave led to a global transfer of wealth. Each age changed all the rules. In the 15 years from 2000 to 2015, despite a dotcom crash and global crisis, Gross World Product has doubled again, from $40 trillion