iPod 5 Years Later
On October 23, 2001, Apple announced in this press release its introduction of the ipod for $400 retail, holding 1,000 songs on a 5 GB hard drive, that could only be used with a Mac. Steve Jobs said at the time, “With the iPod, listening to music will never be the same again.”
Five years later, for less money ($332 at BestBuy), and for use on a Mac OR PC, you can get an 80 GB iPod that holds 20,000 songs and plays movies! A 4GB iPod comparable to the original iPod holding 1,000 songs now sells for $189 at BestBuy.
Things get better and better and cheaper all time time, remember when VCRs cost $1200? Probably not, if you were born after 1975 or so.
See CafeHayek for more on this: how does BLS handle this significant price decrease and significant quality improvement?