Timeline: The 30-Year History of the World Wide Web
The World Wide Web is now as old as the typical millennial.
On March 12, the World Wide Web celebrated its 30th birthday. Over the last three decades, we’ve seen it mature from the first webpage to having a ubiquitous presence in our lives.
Visualizing the History of the World Wide Web
Today’s infographic comes to us from the App Institute, and highlights key milestones since the inception of the web. We’ll look at some major developments on this timeline that defined what the web is today.
Tim Berners-Lee Proposes The World Wide Web on March 12, 1989
Although the giant network of computers that formed the Internet – and its “ARPANET” predecessor – already existed, there was no universal way of writing, transmitting, storing, and accessing the Internet in a clean and organized manner.
A computer scientist named Tim Berners-Lee is credited with the first formalized proposal of what he would later call the “World Wide Web”.
A flow chart of Berners-Lee’s vision in 1989. Source: W3
From this vision, his work would go on to develop and influence assets the web still uses today like hypertext (links), webpages, and browsers.
The founder of the World Wide Web is still around, and most recently Berners-Lee has been fighting for his vision of an open and decentralized Internet.
Mosaic was the first browser to popularize “surfing the web”. Launched in 1993, Mosaic’s graphical user interface (GUI) made it easy for the average user to browse multimedia webpages.
The first browser war began when Microsoft launched Internet Explorer in 1995. Unlike Netscape, Internet Explorer was free of charge. Microsoft overtook Netscape with help from their deep pockets and the fact that they held over 90% of the desktop operating system market share.
This would eventually lead to the U.S. government filing an anti-trust case against Microsoft for engaging in anti-competitive practices – but Internet Explorer escaped mostly unaffected, with it’s market share climbing to 96% by 2002.
Today, the second browser war has largely been dominated by Google Chrome, which launched in 2008 and overtook Internet Explorer by 2012.
Web Crawling: Search
Search engines helped popularize the web by making information easily accessible and searchable. Web Crawler was the first search engine that allowed users to search for words and terms on a webpage.
Source: App Institute
Since then, dozens of search engines have launched, but one player has dominated the search market. Today, over 90% of searches online are made through Google.
The Social Internet
In the late 1990s, online diaries and “blogging” websites like Open Diary, LiveJournal and Blogger popularized people sharing their thoughts to an audience online.
This evolved into social networking sites like Friendster, MySpace, and Facebook, which allowed people to “add” their friends and follow their lives online.
Today, of course, Facebook dominates the Social Media Universe with over 2.2 billion users.
The launch of iPhones and Androids in 2007 – 2008 ushered in a new era where people could access the web from their phones. Before this, websites on phones were clunky to use and mostly resembled their desktop counterparts. Third-party apps and websites designed for mobile touchscreens changed the way we browsed the web.
By 2016, mobile phones surpassed desktops and laptops as our favorite way to access the web:
Privacy: You’re the Product Now
With billions of people accessing the web, the trail of data left behind has become extremely profitable for tech giants like Google and Facebook. The data they collect from people’s private information, online behaviors, and demographics allow advertisers to perfectly target consumers.
With ever growing privacy scandals, and even the creation of surveillance states, how people’s privacy and data is handled will likely be the most important issue for the future of the web.
Nvidia Joins the Trillion Dollar Club
America’s biggest chipmaker Nvidia has joined the trillion dollar club as advancements in AI move at lightning speed.
Nvidia Joins the Trillion Dollar Club
Chipmaker Nvidia is now worth nearly as much as Amazon.
America’s largest semiconductor company has vaulted past the $1 trillion market capitalization mark, a milestone reached by just a handful of companies including Apple, Amazon, and Microsoft. While many of these are household names, Nvidia has only recently gained widespread attention amid the AI boom.
The above graphic compares Nvidia to the seven companies that have reached the trillion dollar club.
Riding the AI Wave
Nvidia’s market cap has more than doubled in 2023 to over $1 trillion.
The company designs semiconductor chips that are made of silicon slices that contain specific patterns. Just like you flip an electrical switch by turning on a light at home, these chips have billions of switches that process complex information simultaneously.
Today, they are integral to many AI functions—from OpenAI’s ChatGPT to image generation. Here’s how Nvidia stands up against companies that have achieved the trillion dollar milestone:
|Joined Club||Market Cap|
|Peak Market Cap
Note: Market caps as of May 30th, 2023
After posting record sales, the company added $184 billion to its market value in one day. Only two other companies have exceeded this number: Amazon ($191 billion), and Apple ($191 billion).
As Nvidia’s market cap reaches new heights, many are wondering if its explosive growth will continue—or if the AI craze is merely temporary. There are cases to be made on both sides.
Bull Case Scenario
Big tech companies are racing to develop capabilities like OpenAI. These types of generative AI require vastly higher amounts of computing power, especially as they become more sophisticated.
Many tech giants, including Google and Microsoft use Nvidia chips to power their AI operations. Consider how Google plans to use generative AI in six products in the future. Each of these have over 2 billion users.
Nvidia has also launched new products days since its stratospheric rise, spanning from robotics to gaming. Leading the way is the A100, a powerful graphics processing unit (GPU) well-suited for machine learning. Additionally, it announced a new supercomputer platform that Google, Microsoft, and Meta are first in line for. Overall, 65,000 companies globally use the company’s chips for a wide range of functions.
Bear Case Scenario
While extreme investor optimism has launched Nvidia to record highs, how do some of its fundamental valuations stack up to other giants?
As the table below shows, its price to earnings (P/E) ratio is second-only to Amazon, at 214.4. This shows how much a shareholder pays compared to the earnings of a company. Here, the company’s share price is over 200 times its earnings on a per share basis.
|P/E Ratio||Net Profit Margin (Annual)|
Consider how this looks for revenue of Nvidia compared to other big tech names:
$NVDA $963 billion market cap, 38x Revenue
$MSFT $2.5 trillion market cap, 12x Revenue$TSLA $612 billion market cap, 7.8x Revenue$AAPL $2.75 trillion market cap, 7.3x Revenue$GOOG $1.6 trillion market cap, 6.1x Revenue$META $672 billion market cap, 6x Revenue pic.twitter.com/VgkKAfiydx
— Martin Pelletier (@MPelletierCIO) May 29, 2023
For some, Nvidia’s valuation seems unrealistic even in spite of the prospects of AI. While Nvidia has $11 billion in projected revenue for the next quarter, it would still mean significantly higher multiples than its big tech peers. This suggests the company is overvalued at current prices.
Nvidia’s Growth: Will it Last?
This is not the first time Nvidia’s market cap has rocketed up.
During the crypto rally of 2021, its share price skyrocketed over 100% as demand for its GPUs increased. These specialist chips help mine cryptocurrency, and a jump in demand led to a shortage of chips at the time.
As cryptocurrencies lost their lustre, Nvidia’s share price sank over 46% the following year.
By comparison, AI advancements could have more transformative power. Big tech is rushing to partner with Nvidia, potentially reshaping everything from search to advertising.
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