Michael Brown who is the Director of Mobile and Entertainment at Digitaria in SF writes today about the 8 reasons why your business shouldn't wait another day to develop an Iphone application. My take on this is that Iphone applications and Iphone optimized mobile sites will continue to erode the retail advertising business of print and radio. Because of the personal and location based nature of Iphones they are and will be increasingly used to find stores, restaurants, events etc.
Here is the article: 8 Reasons for Building an Iphone Web Application