The iPhone Business Boom

It's Shocking How Many Individuals are Working Right Now Developing New Apps

To appreciate the sheer volume of frustrated entrepreneurial energy in the United States that is being bottled-up by the economy and Washington, you need only look at the Apple iPhone. To me, it is emblematic of what is both right and wrong in America right now.

As you may have read, last Thursday at 5 p.m. Apple announced that somewhere out there in the world one of its customers had just downloaded the 1 billionth iPhone software application.

That's an astounding number, especially when you consider that the Apple App store only opened in July. It means that iPhone users downloaded an average of more than 5 million apps per day during that interval and that climbed to more than 5.5 million per day during the final run-up to billionth.

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