This document discusses the history and evolution of technology and its impact on business and society. It notes that 100 years ago the first transcontinental telegraph message was sent in the US. It describes how mobile has become a major focus and revenue driver for many companies. It also discusses how Silicon Valley has shifted from developing high tech to disrupting existing industries. New technology is lowering costs and increasing productivity. Startups are now raising billions rather than millions. Disruptors look for opportunities in algorithms, data, networks and removing friction for customers. Rules for innovation differ from traditional business models and emphasize experimentation over perfection.