E-commerce is the killer app of the phone world. Anyone whose business is now based on advertising had better be prepared to link payment and fulfillment directly to search, making buying anything in the world into a one-click purchase. Real time payment from the phone is in your future.
What it means: Tim O’Reilly posits that the future killer business model of a mobile universe is e-commerce. I agree that a mobile device is much more conducive to “action” vs. branding. This means companies that have built solid businesses on directional advertising (coupons, Yellow Pages, Google Adwords, etc.) are better positioned to monetize mobile. Business models need to evolve in the direction of actual actions or transactions though. Pay-per-call, reservations, entering a store (via check-ins?), actual sales will rule the mobile world.