This report is a revision of Building a Solid World, by the same authors, released in February 2014. The Internet of Things (IoT) is more than just a category of electronics. It represents an approach to blending software and hardware, drawing on the strengths of each to introduce intelligence to objects that were previously unintelligent, and to add physical endpoints to software that was once strictly virtual. Radical changes in the hardware development process have made the IoT—and its vast possibility—accessible to anyone. This report surveys the foundational changes that have enabled the IoT and takes a look at what lies ahead.