If I'm reading this correctly, the implication is that social and mobile applications have been (or will soon be) exhausted. I disagree, I think there's a lot of space left for innovation, though it will be hard to displace entrenched companies at this point.

As far as the 'next big thing' goes, do you think that there is any space for a small hardware company anymore? You suggest that the next trend is new form-factors/hardware, and at this point, the companies that would do well at that are those with deep pockets for R&D.