In Conversation with Dany Farha, Managing Partner of BECO Capital
From Internet Revolution to Tech Powerhouse: How the UAE Transformed and Embraced the Digital Age
Dany Farha reminisced about the Internet and how it was going to change the world, back in 1999. At the time, it was still a new concept in the UAE, with only a 15% penetration rate within the local population, a measly fraction compared to the 38% penetration in the U.S. at the time. It was the beginning of the internet revolution.
Fast-forward 23 years, and it’s interesting how tables have turned; the U.A.E has ratcheted up internet penetration to 99%, compared to 92% in the U.S. Granted, the UAE is a much smaller region with a population that is just 3% of America’s 331 million inhabitants. But, the point is how quickly the internet enveloped the world, and how the internet economy and