EDGY Conversations: The Blunt Interview with Dan Waldschmidt


Dan Waldschmidt is an international business strategist, speaker, author, and extreme athlete.  His consulting firm solves complex marketing and business strategy problems for savvy companies all over the world. Dow Jones calls his Edgy Conversations blog one of the top sales sites on the internet. He’s been profiled in Business Week, INC Magazine, BBC, Fox News, The Today Show, and Business Insider, has been the featured guest on dozens of radio programs, and has published hundreds of articles on progressive business strategy. He is author of Edgy Conversations: How Ordinary People Achieve Outrageous Success. 

Dan was recently interviewed by Luke Brown, Engagement Partner with the investment banking firm Growthink. Dan isn't your ordinary business guy and this isn't your ordinary interview.

Q.  Your book has the most powerful first page most people will ever read.
Why start your book with those 13 words?

I wanted to be honest with the reader. Often books about motivation or inspiration are about how the author made millions of dollars at a very early age and had no problems for the rest of their life. I wanted to share a story that was grittier -- a little more realistic. Frankly, most of us have challenges in our lives that feel all encompassing. An honest book about success should start with the idea of the hopelessness that we all feel from time to time. 

Q. You tell stories of people who simply refused to accept society’s limitations or who overcame tremendous challenges. How does resourcefulness tie into success?

We learned from studying these ordinary people that success is less about the resources you have and more about how resourceful you are. When you can fall back on family money or on your Ivy League credentials, you are often less creative than when you feel like you are boxed into a corner. There is nothing wrong with having a great education or access to lots of money, but it is when we feel pressured by not having those resources that we often perform at our best. 

Q. You’re part of a monthly sales master-mind group. How could this type of group benefit most business owners?

All of us need a little help. One of the first pieces of advice that I share with CEOs of billion dollar companies is that if they don't already have a therapist they should get one. The most important part of being successful in business is being successful at keeping your mind straight. That doesn't come naturally to all of us. Sometimes you need someone who's “got your back”. When you are sick you go to the doctor. When you want to lose weight you hire a fitness trainer. The same is true for fixing what's broken with business. It's crazy not to get the help you need. 

Q.  Your philosophy of success is quite different from most people. What would you say to someone who would challenge your thought process?

Who cares what I think about success? Frankly, I'm already successful. I will continue to be successful. The real question to any of us is: “Are you were successful as you want to be?” If you're not then you need to start questioning what you're doing -- and more importantly your philosophy for achieving success. Whether you adopt some nugget of truth from something I've shared in the book or uncover your own nugget for achieving success, the introspection behind that struggle is wildly important for getting to where you want to be. 

Q. You work with companies who can afford six-figure consulting bills. What’s the difference between the advice they get and the advice you’d give a start-up or early-stage growth company?

Not much difference at all. The terminology might be different and the number of zeros behind the strategy might be different -- but the same core philosophy for being extreme, disciplined, giving and human stay the same. The results can catapult a startup to wild success and can transform a bulky billion dollar enterprise into a fast moving industry juggernaut. 

Q. Many companies seek you out because they’re looking for different answers than they might usually get. What’s the most common challenge these companies face?

Almost every business challenge that we face is rooted in people problems and evidenced by a revenue problem -- people with skills lacking the will to do what is necessary to fix fixable problem. The consequences of not fixing these problems are stagnant revenue growth, high turnover, and an inability to be profitable. 

Q. You’ve faced and conquered many personal challenges. What was your most difficult business challenge?

My biggest challenge has it always been figuring out what I want to do with the rest of my life. I tend to be mission-driven rather than driven around a specific long lasting goal. Making lots of money isn't a huge motivator for me anymore. I want to change the world. That's so big and scary that living it requires lots of focus and attention to the details. I can find myself wasting time and emotion on things that don't matter. I try to have a sincere one-on-one with myself at least once a week to make sure I'm investing and things that'll be proud of later. 

Q. You were generous enough to donate your book to the students in my class at USC. What’s your advice for college students who want to become entrepreneurs?

It is the best ass whooping you'll ever get in life. You’ll sweat and cry and bleed and conquer -- all at the same time. The journey of an entrepreneur is a wild roller coaster ride of emotion. The lessons that you learn along the way will make you a better person. When you're a better person life is better. 

Q. It’s unusual to mention love in a book about success. Why is this so important for you to mention?

Love is transformational. Most business leaders who call me are looking for transformational business results. To leave out the one thing that can make that happen most assuredly seems like fraudulent behavior for an author. It's easy to label love as something that's “touchy feely” and relegated to your personal life. When you start to understand the power of love to engage prospects, increase wallet share with existing customers, and drive industry differentiation, you understand the secret to mind blowing success -- just love people. They will love you back. 

Q. What do you want your legacy to be?

I want to be like one of the thousand people that we interviewed. An ordinary dude that achieves outrageous success. That will be enough for me.

www.edgyconversations.com

www.danwaldschmidt.com

The Heartbleed Hit List: The Passwords You Need to Change Right Now

From Mashable

An encryption flaw called the Heartbleed bug is already being called one of the biggest security threats the Internet has ever seen. The bug has affected many popular websites and services — ones you might use every day, like Gmail and Facebook — and could have quietly exposed your sensitive account information (such as passwords and credit card numbers) over the past two years.

But it hasn't always been clear which sites have been affected. Mashable reached out some of the most popular social, email, banking and commerce sites on the web. We've rounded up their responses below.

Some Internet companies that were vulnerable to the bug have already updated their servers with a security patch to fix the issue. This means you'll need to go in and change your passwords immediately for these sites. Even that is no guarantee that your information wasn't already compromised, but there's also no indication that hackers knew about the exploit before this week. The companies that are advising customers to change their passwords are doing so as a precautionary measure.

Although changing your password regularly is always good practice, if a site or service hasn't yet patched the problem, your information will still be vulnerable.

Also, if you reused the same password on multiple sites, and one of those sites was vulnerable, you'll need to change the password everywhere. It's not a good idea to use the same password across multiple sites, anyway.

We'll keep updating the list as new information comes in. Last update: April 10, 8:25 p.m. ET

Social Networks

Was it affected?

Is there a patch?

Do you need to change your password?

What did they say?

Facebook

Unclear

Yes

YesYes

"We added protections for Facebook’s implementation of OpenSSL before this issue was publicly disclosed. We haven’t detected any signs of suspicious account activity, but we encourage people to ... set up a unique password."

Instagram

Yes

Yes

YesYes

"Our security teams worked quickly on a fix and we have no evidence of any accounts being harmed. But because this event impacted many services across the web, we recommend you update your password on Instagram and other sites, particularly if you use the same password on multiple sites.”

LinkedIn

No

No

No

"We didn't use the offending implementation of OpenSSL in www.linkedin.com or www.slideshare.net. As a result, HeartBleed does not present a risk to these web properties."

Pinterest

Yes

Yes

YesYes

"We fixed the issue on Pinterest.com, and didn’t find any evidence of mischief. To be extra careful, we e-mailed Pinners who may have been impacted, and encouraged them to change their passwords."

Tumblr

Yes

Yes

YesYes

"We have no evidence of any breach and, like most networks, our team took immediate action to fix the issue."

Twitter

No

Yes

Unclear

Twitter wrote that OpenSSL "is widely used across the internet and at Twitter. We were able to determine that [our] servers were not affected by this vulnerability. We are continuing to monitor the situation." While reiterating that they were unaffected, Twitter toldMashable that they did apply a patch.

Other Companies

Was it affected?

Is there a patch?

Do you need to change your password?

What did they say?

Apple

No

No

No

"iOS and OS X never incorporated the vulnerable software and key web-based services were not affected."

Amazon

No

No

No

"Amazon.com is not affected."

Google

Yes

Yes

YesYes*

“We have assessed the SSL vulnerability and applied patches to key Google services.” Search, Gmail, YouTube, Wallet, Play, Apps and App Engine were affected; Google Chrome and Chrome OS were not.

*Google said users do not need to change their passwords, but because of the previous vulnerability, better safe than sorry.

Microsoft

No

No

No

Microsoft services were not running OpenSSL, according to LastPass.

Yahoo

Yes

Yes

YesYes

"As soon as we became aware of the issue, we began working to fix it... and we are working to implement the fix across the rest of our sites right now." Yahoo Homepage, Yahoo Search, Yahoo Mail, Yahoo Finance, Yahoo Sports, Yahoo Food, Yahoo Tech, Flickr and Tumblr were patched. More patches to come, Yahoo says.

Email

Was it affected?

Is there a patch?

Do you need to change your password?

What did they say?

AOL

No

No

No

AOL told Mashable it was not running the vulnerable version of the software.

Gmail

Yes

Yes

YesYes*

“We have assessed the SSL vulnerability and applied patches to key Google services.”

*Google said users do not need to change their passwords, but because of the previous vulnerability, better safe than sorry.

Hotmail / Outlook

No

No

No

Microsoft services were not running OpenSSL, according to LastPass.

Yahoo Mail

Yes

Yes

YesYes

"As soon as we became aware of the issue, we began working to fix it... and we are working to implement the fix across the rest of our sites right now."

Stores and Commerce

Was it affected?

Is there a patch?

Do you need to change your password?

What did they say?

Amazon

No

No

No

"Amazon.com is not affected."

Amazon Web Services(for website operators)

Yes

Yes

YesYes

Most services were unaffected or Amazon was already able to apply mitigations (see advisory note here). Elastic Load Balancing, Amazon EC2, Amazon Linux AMI, Red Hat Enterprise Linux, Ubuntu, AWS OpsWorks, AWS Elastic Beanstalk and Amazon CloudFront were patched.

eBay

No

No

No

"eBay.com was never vulnerable to this bug because we were never running a vulnerable version of OpenSSL."

Etsy

Yes*

Yes

YesYes

Etsy said that only a small part of its infrastructure was vulnerable, and they have patched it.

GoDaddy

Yes

Yes

YesYes

"We’ve been updating GoDaddy services that use the affected OpenSSL version." Full Statement

Groupon

No

No

No

"Groupon.com does not utilize a version of the OpenSSL library that is susceptible to the Heartbleed bug."

Nordstrom

No

No

No

"Nordstrom websites do not use OpenSSL encryption."

PayPal

No

No

No

"Your PayPal account details were not exposed in the past and remain secure." Full Statement

Target

No

No

No

"[We] launched a comprehensive review of all external facing aspects of Target.com... and do not currently believe that any external-facing aspects of our sites are impacted by the OpenSSL vulnerability."

Walmart

No

No

No

"We do not use that technology so we have not been impacted by this particular breach."

Banks and Brokerages

All the banks we contacted (see below) said they were unaffected by Heartbleed, but U.S. regulators have warned banks to patch their systems.

Was it affected?

Is there a patch?

Do you need to change your password?

What did they say?

Bank of America

No

No

No

"A majority of our platforms do NOT use OpenSSL, and the ones that do, we have confirmed no vulnerabilities."

Capital One

No

No

No

"Capital One uses a version of encryption that is not vulnerable to Heartbleed."

Chase

No

No

No

"These sites don’t use the encryption software that is vulnerable to the Heartbleed bug."

Citigroup

No

No

No

Citigroup does not use Open SSL in "customer-facing retail banking and credit card sites and mobile apps"

E*Trade

No

No

No

E*Trade is still investigating.

Fidelity

No

No

No

"We have multiple layers of security in place to protect our customer sites and services."

PNC

No

No

No

"We have tested our online and mobile banking systems and confirmed that they are not vulnerable to the Heartbleed bug."

Schwab

No

No

No

"Efforts to date have not detected this vulnerability on Schwab.com or any of our online channels."

Scottrade

No

No

No

"Scottrade does not use the affected version of OpenSSL on any of our client-facing platforms."

TD Ameritrade

No

No

No

TD Ameritrade "doesn't use the versions of openSSL that were vulnerable."

TD Bank

No

No

No

"We're currently taking precautions and steps to protect customer data from this threat and have no reason to believe any customer data has been compromised in the past."

U.S. Bank

No

No

No

"We do not use OpenSSL for customer-facing, Internet banking channels, so U.S. Bank customer data is NOT at risk."

Wells Fargo

No

No

No

No reason provided.

Government and Taxes

Was it affected?

Is there a patch?

Do you need to change your password?

What did they say?

1040.com

No

No

No

"We're not vulnerable to the Heartbleed bug, as we do not use OpenSSL."

FileYour Taxes.com

No

No

No

"We continuously patch our servers to keep them updated. However, the version we use was not affected by the issue, so no action was taken."

H&R Block

Unclear

No

Unclear

"We are reviewing our systems and currently have found no risk to client data from this issue."

Healthcare .gov

No

No

No

"Healthcare.gov consumer accounts are not affected by this vulnerability."

Intuit (TurboTax)

Yes

Yes

YesYes

Turbotax "has examined its systems and has secured TurboTax to protect against the “Heartbleed” bug." Full Statement

IRS

Unclear

Unclear

Unclear

"The IRS continues to accept tax returns as normal ... and systems continue operating and are not affected by this bug. We are not aware of any security vulnerabilities related to this situation."

TaxACT

No

No

No

"Customers can update their passwords at any time, although we are not proactively advising them to do so at this time."

USAA

Yes

Yes

YesYes

USAA said that it has "already taken measures to help prevent a data breach and implemented a patch earlier this week."

Other

Was it affected?

Is there a patch?

Do you need to change your password?

What did they say?

Box

Yes

Yes

YesYes

"We're currently working with our customers to proactively reset passwords and are also reissuing new SSL certificates for added protection."

Dropbox

Yes

Yes

YesYes

On Twitter: "We’ve patched all of our user-facing services & will continue to work to make sure your stuff is always safe."

Evernote

No

No

No

"Evernote's service, Evernote apps, and Evernote websites ... all use non-OpenSSL implementations of SSL/TLS to encrypt network communications."Full Statement

Hulu

Unclear

Unclear

Unclear

GitHub

Yes

Yes

YesYes

GitHub said it has patched all its systems, deployed new SSL certificates and revoked old ones. GitHub is asking all users to change password, enable two-factor authentication and "revoke and recreate personal access and application tokens."

IFTTT

Yes

Yes

YesYes

IFTTT emailed all its users and logged them out, prompting them to change their password on the site.

Minecraft

Yes

Yes

YesYes

"We were forced to temporary suspend all of our services. ... The exploit has been fixed. We can not guarantee that your information wasn't compromised." More Information

Netflix

Unclear

Unclear

Unclear

"Like many companies, we took immediate action to assess the vulnerability and address it. We are not aware of any customer impact."

OKCupid

Yes

Yes

YesYes

"We, like most of the Internet, were stunned that such a serious bug has existed for so long and was so widespread."

SoundCloud

Yes

Yes

YesYes

SoundCloud emphasized that there were no indications of any foul play and that the company's actions were simply precautionary.

Spark Networks (JDate, Christian Mingle)

No

No

No

Sites do not use OpenSSL.

SpiderOak

Yes

Yes

No

Spideroak said it patched its servers, but the desktop client doesn't use a vulnerable version of OpenSSL, so "customers do not need to take any special action."

Wordpress

Unclear

Unclear

Unclear

Wordpress tweeted that it has taken "immediate steps" and "addressed the Heartbleed OpenSSL exploit," but it's unclear if the issue is completely solder. When someone asked Matt Mullenweg, WordPress' founding developer, when the site's SSL certificates will be replaced and when users will be able to reset passwords, he simplyanswered: "soon."

Wunderlist

Yes

Yes

YesYes

"You’ll have to simply log back into Wunderlist. We also strongly recommend that you reset your password for Wunderlist."Full Statement

Password Managers

Was it affected?

Is there a patch?

Do you need to change your password?

What did they say?

1Password

No

No

No

1Password said in a blog post that its technology "is not built upon SSL/TLS in general, and not upon OpenSSL in particular." So users don't need to change their master password.

Dashlane

Yes

Yes

No

Dashlane said in a blog post users' accounts were not impacted and the master password is safe as it is never transmitted. The site does use OpenSSL when syncing data with its servers but Dashlane said it has patched the bug, issued new SSL certificates and revoked previous ones.

LastPass

Yes

Yes

No

"Though LastPass employs OpenSSL, we have multiple layers of encryption to protect our users and never have access to those encryption keys." Users don't need to change their master passwords because they're never sent to the server. But passwords for other sites stored in LastPass might need to be changed.

Another BIG win for Los Angeles VCs - first 100 days of 2014 the most prolific in region's history....

TrueCar files for IPO, touting 67% revenue growth and 400,000 vehicle sales in

2013

Michael Carney_PandoDaily By Michael Carney 
On April 4, 2014

TrueCar

When it rains, it pours. And these days in Los Angeles the thing falling from the sky is venture returns. The first 100 days of 2014 have been the most prolific in the region’s history, seeing a half dozen companies exit for nine-figures or more.

Today, nine-year-old automotive pricing comparison website TrueCar joined the mix, filing for a long-awaited IPO that could see the company raise as much as $125 million. Unlike most recent tech listings, which in the wake of the Facebook IPO debacle have preferred the human touch of the NYSE, TrueCar will list on the technology focused NASDAQ.

The Santa Monica company has yet to price the offering. Considering that TrueCar has raised more than $189.5 million in venture capital to date (approximately $50 million of which remains), and grew revenue 67 percent year-over-year to $134 million expect the company to command a high nine or low ten figure market cap. TrueCar is EBITA profitable, clearing $2.1 million for the year.

(Editor’s note: The above paragraph originally stated that TrueCar was not profitable, posting a net loss of $25 million and contradicting statements that CEO Scott Painter had made to Pando in November. This fact was corrected at on 4/4/2013 at 3pm PST after further inspection of TrueCar’s filings and comparison to Pando’s prior interview with Painter.)

TrueCar is not profitable – somewhat surprisingly given that CEO Scott Painter told me the opposite as recently as November – posting a net loss of $25 million for the year down 66 percent from a year prior.

TrueCar marks another win for Los Angeles VCs with Upfront Ventures owning 15.2 percent of the company and Anthem Ventures owning another 9.3 percent. The company also counts insurer USAA as a 26 percent shareholder, Jeff Skoll’s Capricorn Investment Group at 16 percent, and Microsoft co-founder Paul Allen’s Vulcan Capital at 9 percent. TrueCar founder and CEO Scott Painter owns 11.7 percent.

Certified TrueCar dealers must agree to honor the “fair price” set by the price comparison service, saving consumers the hassle of negotiating but also guaranteeing dealers a minimum price. As I wrote last fall:

Behind the scenes, the company collects auto transaction data from thousands of sources including the majority of insurers and automotive lenders nationwide – something it has been doing all along, even before the dealer revolt. With this data, TrueCar can see what prices consumers are actually paying, not what dealers label as “MSRP,” “Invoice,” or other industry standard terms of spurious meaning.

The company then takes this a step further by providing consumers a Guaranteed Savings Certificate based on real average sales prices across the industry. Each of the company’s 7,000 dealer partners is contractually bound to honor the prices on these certificates without hassle or negotiation. Consumers pay nothing for this service, and dealers pay TrueCar a flat fee on each completed sale, but nothing if a sale doesn’t close.

The service is growing in popularity, helping users purchase 400,000 cars last year, a third of the 1.1 million vehicles it’s helped sell since launching nine years ago.

“We estimate that users of our platform purchasing cars from TrueCar Certified Dealers accounted for approximately 2.0 percent of all new car sales in the United States in 2013,” a company spokesperson says.

The service is free to use for consumers, but requires registration. The company gets paid by its 7,000 dealer partners when vehicles are purchased. These pay-for-performance fees make up 89 percent of TrueCar’s revenue, with the other 11 percent coming from sales of data and consulting services.

TrueCar’s path to this point wasn’t without its bumps. The company lost 50 percent of its dealership partners in 2012 amit a revolt to its deep discount messaging. It almost killed the business. The year 2012 “really was hell,” Painter told me in November. “We went from 6,000 dealers to 3,000 overnight. And when your revenue comes from dealers, that’s pretty tough. It almost killed us.” But Painter righted the ship and now 18 months later the company is preparing its Wall Street pitch.

In many ways, TrueCar is the type of startup story LA was known for prior to the hype-filled last three years. The company launched with a monetization strategy from day one and has been slowly growing its user-base with little fanfare. Many members of the local tech community don’t even know TrueCar is based in LA, that it has 250 employees here (and 350 total), or scale of its success.

If Wall Street hops on the TrueCar bandwagon, LA might soon be adding Painter’s company to its short list of billion dollar tentpole technology companies.


-- 

Melissa Welch

Director of Client Development

Growthink

melissa.welch@growthink.com

(310) 846-5015


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Apps Solidify Leadership Six Years into the Mobile Revolution

Last year, on the eve of the fifth anniversary of the mobile revolution, Flurry issued its five-year report on the mobile industry. In that report we analyzed time-spent on mobile devices by the average US consumer. We have run the same analysis, using data collected between January and March of 2014, and found some interesting shifts that we are sharing in this report.

Time spent on a mobile device by the average US consumer has risen to 2 hrs and 42 minutes per day from 2 hrs and 38 minutes per day in March of 2013. Apps continued to cement their lead, and commanded 86% of the average US mobile consumer’s time, or 2 hrs and 19 minutes per day. Time spent on the mobile web continued to decline and averaged just 14% of the US mobile consumer’s time, or 22 minutes per day. The data tells a clear story that apps, which were considered a mere fad a few years ago, are completely dominating mobile, and the browser has become a single application swimming in a sea of apps. 

apps dominate hires resized 600

The chart below takes a closer look at app categories. Comparing  them to last year, gaming apps maintained their leadership position at 32% of time spent. Social and messaging applications, including Facebook, increased share from 24% to 28%. Entertainement (including YouTube) and Utility applications maintained their positions at 8% each, while productivity apps saw their share double from 2% to 4% of the overall time spent. 

time spent donut hires v2 resized 600

Coming back to the overall time-spent on mobile, the average US consumer spent an additional 4 minutes/day on a mobile device compared to last year. That is just a 2.5% year-over-year increase. Time spent in apps was 2 hours and 19 minutes this year compared to 2 hours and 7 minutes last year. That is an increase of 12 minutes per day or 9.5%. This is a modest increase in time spent, yet not as spectacular as the five previous years.

Google and Facebook: The First Franchises in Mobile…

While examining the chart above, it is hard to ignore the time-spent on Facebook. As in the previous year, we placed Facebook (including Instagram) in its own category, albeit in the social segment. In terms of time spent, Facebook still has the lion’s share of time spent in the US. While the social segment grew, driven mainly by messaging applications, Facebook was able to maintain its position with the help of Instagram. That position will be even more cemented, if not increased, by the reach and time-spent inside WhatsApp. This has given Facebook a great degree of confidence on mobile allowing it to start focusing on the next platform. The following statement from Mark Zuckerberg’s post on the Oculus acquisition was very revealing: “We have a lot more to do on mobile, but at this point we feel we're in a position where we can start focusing on what platforms will come next to enable even more useful, entertaining and personal experiences”.

In this year’s analysis, we have added YouTube as its own segment, albeit in the entertainment category. On its own, YouTube is a whopping 50% of the entertainment category. Google has many other widely adopted apps, such as maps, but we kept those in their respective categories.

Both Google and Facebook have very well established franchises on mobile, but the market is still very fragmented. In fact, Google and Facebook combined probably command less than 25% of the total time spent by the average US mobile consumer. In addition the top ten franchises, according to ComScore, account for less than 40% of the time-spent. So despite massive efforts by Google and Facebook, the market still hasn’t consolidated and over the past couple of years we have seen new franchises emerge in almost every sector of mobile. Apps like Pinterest, Snapchat, WhatsApp (acquired by Facebook), Waze (Acquired by Google), Spotify and many more received wide adoption and commanded a percent or two of the time spent. In short, six years into the mobile revolution, there are numerous opportunities for new franchises to emerge in almost every segment of the mobile economy. 

…and in Mobile Advertising

There is an old saying in the world of advertising: “time-spent is the timeless currency”. It means that advertising revenue distribution follows time-spent distributions. As an example, if an app commands 17% of time spent, it should command 17% of the ad revenues for that channel. This is exactly the position Facebook is in right now and this is reflected in the chart below. 

ad spend hires v1 resized 600

According to eMarketer, at the end of 2013, Facebook earned 17.5% of the overall mobile advertising revenues. That is in-line with their share of the time-spent. On the flip side, Google, according to eMarketer, earned 49.3% of the overall mobile advertising revenues, much more than its fair share of time-spent. (For the time-spent analysis, we accounted for YouTube and all the time spent in browsers where Google monetizes search and display.)

There are other display networks and other search monetization players out there, but if we combined mobile search and display ads on the mobile web, Google probably has a high market share in terms of ad revenues. The rest of the apps, including gaming apps, are simply not getting their fair share of advertising spent. The “other” apps command 65.3% of time spent but only receive 32% of ad revenues. This represents a massive opportunity for applications, including gaming apps, to monetize through advertising. eMarketer also projects that the mobile ad market will grow 75% this year, making the opportunity even bigger. In fact, analysts predict that in-app ad revenues will surpass web display ads in 2017.

It is still too early to predict the trajectory apps will take in 2014. But one thing is clear - apps have won and the mobile browser is taking a back seat. Now every company in the world including Google is adjusting to that reality.