After 5 days with the iPad, I can tell you it is not hyperbole ... the iPad is going to revolutionize business and personal computing. Those who point out there are more powerful tablet PCs are making the same mistake Steve Balmer did when he said the iPhone would fail because it lacked a keyboard. They are missing the point. I have a maxed-out Power Mac with two (2) 30" High Definition monitors that could process videos for Pixar and yet I still have switched to the iPad for all of my reading needs. And I love paper and pen ...
Five days or so into my experience with the iPad and it continues to exceed expectations (by far). I’ve spent somewhere between $120 and $150 in the Apple iTunes App store, which compared to my previous purchases of apps (read: $0), means there is more cash flowing into Steve Jobs’ coffers. The overwhelming indication continues to be that the success of the iPad will come down to the applications that software companies develop for it. We bought our iPads for business purposes. As an Internet company, the easier we can access data, the better we can respond to customer needs.
Business Productivity on the iPad
The main benefit of the iPad is it allows us to monitor profits, costs, bills, and customer messages in real-time across all of our businesses. I can see, quite literally, sales flow into our sporting goods business or baby retailer as I sit on the balcony drinking coffee and listening to Coldplay’s Viva la Vida (which I’ve had on repeat all day). I can monitor our investment positions and submit complex options positions with a few clicks (er… taps). It has allowed me to get up from my desk and spend time elsewhere, greatly improving the quality of life.
Books on the iPad
The Apple iBook store can be great. It’s just not there, yet. There isn’t nearly enough selection, especially when compared to the Amazon Kindle (which explains why I use the Kindle app and buy books from Amazon for the iPad). I should have the ability to print directly from the iPad any page I’ve noted, complete with my markups. Imagine what that would do for business productivity.
Games on the iPad
On the gaming front, there are a lot of things that could make the iPad a game changer. For example, if Square-Enix were to release the Final Fantasy games up through FFIX, I’d buy them in a heartbeat, no questions asked. If I can play Monopoly with my family members wireless over a network connection, regardless of physical distance, I’d be thrilled because it would be another way to spend time together.
Why would they create for the iPad instead of sticking to an existing gaming console? Because the iPad will be with me for business purposes all the time. That means I can take a break and play a game of Peggle without taking out a separate machine. No one would think twice about a guy in a suit on an iPad but they would do a double take on a PSP or a Nintendo DS. It is a chance to access a much larger audience that has the ability to make impulse purchases.
Only a Fool Would Think the iPhone Makes the iPad Redundant
After only a few days with the iPad, I can tell you it is nothing like the iPhone. I’m not going to type on an iPhone or use it for apps. I didn’t buy very many games. I can actually work on the iPad. I can read the blogs, check the news, and monitor stock prices. I can update my calendar, watch videos, or send email.
In fact, I’ve already begun the process of organizing and updating my rare PDF files, including copies of Buffett’s partnership letters (which aren’t publicly available) and Ben Graham’s reports to his stockholders. As soon as someone gives me a PDF reader with strong highlighting abilities, note taking, underlying, and printing capabilities, I can get rid of most of the office. Imagine having 20+ years of annual reports on demand, with a click of the button.
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I'm a private investor who loves architecture, furniture, clothes, history, philosophy, books, cooking, and music as much as I do finance. 
