The Third Wave

The Third Wave – Steve Case

Steve Case, cofounder of America Online, helped bring millions of people onto the internet for the first time. In The Third Wave: An Entrepreneur’s Vision of the Future, he looks back at the history of the internet and ahead to the next era of technological change.

Case describes the evolution of the internet in three waves. The first wave involved building the infrastructure and getting people connected, the era in which AOL played a leading role. The second wave saw companies build applications and services on top of the internet, such as search engines, social networks and smartphone apps. The third wave, he argues, will see the internet integrated into every part of daily life, transforming major sectors such as health care, education, transportation, energy, food and financial services.

Case explains that succeeding in the third wave will require a different playbook from the second. Because these industries are heavily regulated and deeply established, entrepreneurs will need partnerships with existing companies and governments, perseverance and an understanding of policy. He also argues that innovation will increasingly come from cities and regions outside traditional tech hubs, and from a more diverse group of entrepreneurs.

Throughout, Case shares stories from his own career, including the rise of AOL and its merger with Time Warner, and the lessons he learned from both successes and failures.

Insightful and forward-looking, The Third Wave is a valuable read for entrepreneurs, business leaders, investors and policymakers interested in the future of technology and innovation.