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Nobody believed mobile would be the fastest growing segment of tech

I disagree about this one. In 2007:

+ AdMob raised $15M for their Series B from Accel and Sequoia.

+ Google announced their Android platform (after having purchased it in 2005).

+ Apple launches the iPhone.

I would say those are major examples of the big bets large corporations and investors were placing on mobile being a fast, if not the fastest growing segment of tech.

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I get the author's point, but I also strongly disagree that the economy was doing "incredibly well." I think it was fairly obvious even 5 years prior to 2007 that the wheels were coming off. For me it felt like a slow motion accident. Same with mobile; you're only startled by the impact if you were looking the other direction.

Also in 2007, the eeepc showed everyone that there was immense potential in small form factor computers.

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