Its not too much of a stretch to compare the rise of the World Wide Web with other world-changing innovations including the industrial revolution, the motor car and the invention of the computer itself.
The internet has allowed us access to unparalleled amounts of information from around the world. It has put immense computational power within reach and has provided consumers with access to global retail opportunities. The emergence of our newly hyper-connected world also allowed new business models to flourish.
New models
Amazon.com began in books, and has expanded to be a true hyper-mart. eBay, which started life as a virtual auction house for second-hand goods has pushed deep into retailing new products and has organically created PayPal, a payments system that is rapidly encroaching onto Visa and Mastercards turf.
Australia has had its share of internet success stories.
Online shoe seller Zappos.com says a hacker may have accessed the personal information of up to 24 million customers.
