The chart above, created by Nicholas Felton of the New York Times, shows how long it took various categories of product, from electricity to the Internet, to achieve different penetration levels in US households. It took decades for the telephone to reach 50% of households, beginning before 1900. It took five years or less for cellphones to accomplish the same penetration in 1990. As you can see from the chart, innovations introduced more recently are being adopted more quickly. By analogy, firms with competitive advantages in those areas will need to move faster to capture those opportunities that present themselves.