It's sometimes crazy to think that a simple gadget can completely alter someone's life. However, you only need to consider the smartphone to realize just how effectively that can happen. Before smartphones, people needed all of their tech services on their computer which was usually stationary in their homes.
For many years, companies were convinced of the competitive advantage of closed research and development. They jealously protected their intellectual property behind closed doors and dramatically revealed it to the public after years of development. This old model has since been replaced by open innovation.