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"A year ago this week Apple opened the floodgates and began letting software developers sell software for the iPhone, and geeks everywhere caught iPhone fever.\nSince then Apple&amp;#8217;s iTunes App Store has swelled to more than 50,000 titles, logged more than 1 billion downloads, and inspired an entrepreneurial surge that&amp;#8217;s reminiscent of the dot-com gold rush &amp;#8212; only without the illusion that everyone is making tons of money.\nIn fact, aside from Apple and AT&amp;#38;T, it&amp;#8217;s hard to point to many folks that are raking in a pile of iPhone cash quite yet. Matt Murphy, a venture capitalist at Kleiner Perkins Caufield &amp;#38; Byers, guesses that as many as 95% of the developers building iPhone apps &amp;#8220;aren&amp;#8217;t trying to build a company on the iPhone&amp;#8221; &amp;#8212; they&amp;#8217;re just hobbyists making a little money on the side, or companies using fun iPhone apps as marketing vehicles.\nThe world is still waiting for the equivalents of eBay, Amazon, or Yahoo &amp;#8212; the groundbreaking new companies that will redefine and inspire the mobile ecosystem.\nNot that people like Murphy are discouraged.\nFull Story(AAPL) (T) (EBAY) (AMZN) (YHOO) (RIMM) (PALM) (NOK) (MOT) (MSFT)"^^<http://www.w3.org/2001/XMLSchema#string>
<http://fortune.com/2009/07/06/iphone-app-store-turns-1-anyone-making-real-money/>