Nearly eight years ago, venture capitalist Marc Andreessen wrote that 'software is eating the world.' Now it's happening, greg_ip says.
At the peak of the tech bubble in 2000, Microsoft Corp. jockeyed for the title of world’s most valuable company with Intel Corp., which made microprocessors; Cisco Systems Inc., which made communications gear; and General Electric Co., which made locomotives and turbines.
Nearly two decades later, Microsoft is once again atop the market-value rankings. Cisco, Intel and GE are—combined—worth about half of Microsoft. This signifies a profound shift in the economy in recent years. Productivity and economic growth increasingly...
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