May 19th, 2022
It’s generally accepted that the phrase “Internet of Things” was coined in 1999 during a presentation for Procter & Gamble. Actually, the concept was already in use more than 15 years earlier when programmers at Carnegie Mellon University connected a Coke machine to the internet so they could see if there were any cold Cokes available before walking to the machine to buy one. After four decades, the Internet of Things (“IoT”) has become ubiquitous, making its way into essentially every facet of day-to-day life and consumer demand for IoT products has become insatiable. That demand has proved a boon for innovative companies such as SPYR Inc. (OTCQB: SPYR) (Profile) as well as famous FAANG companies: Apple Inc. (NASDAQ: AAPL), Amazon.com Inc. (NASDAQ: AMZN), Google (NASDAQ: GOOG) and Meta Platforms Inc. (NASDAQ: FB) (formerly known as Facebook).