Why The "I Am Rich" App Was Brilliant

Yesterday, there was a lot of chatter about "I Am Rich," a $999 application for the iPhone that, in the words of most observers, "did nothing." Personally, I think it was brilliant.

First, the app didn't exactly "do nothing." It placed a bright jewel on the face of your phone. Is anyone accusing the Emerald Chronometer app of doing nothing when it simply places a watch face on the phone for $4.99? Or what about the apps that simply turn your screen white (some of which are pay apps, some free) to use it as a light? If you think of "I Am Rich" as a piece of digital art, it's actually a bargain. In a previous post, I mentioned the antique shop of the future will be quite different, as digital content can easily be copied, and has no value without a presence in the physical world. But here's an app that couldn't (easily) be copied, and would be constrained only to phones synced with the same computer.

For those who did buy the app, if anyone did, congratulations. I predict you will have something quite valuable in the years to come. Just look at the going price of prototype game cartridges from the 80's for some guidance on just how precious your seemingly "do nothing" app will be in the future. You may very well look back and thank Apple for pulling the application so shortly after its launch.