This was probably before your time. The year was 1980.
10MB Hard Disk for $3,495
Fantastic picture and example, and a nice rather timely reminder of the way things were and of just how recently the revolutionary changes in life as a result of computing have occured. Actually, I remember when the IBM golfball electric typewriter was the latest and best piece of office equipment anyone could hope for (and how female secretarial staff would revert to their trusty IBMs when male technophile professors were away at conferences because they didn't trust the technology and could work better and faster on their IBMs). Likewise, I remember when the first 1GB computer I ever saw was proudly unveiled to awed amazement (in 1995) and was housed in a well-funded corner of linguistics, well away from where the rest of us toiled in the perennially under-funded humanities.
Seriously, though, each invention feeds others; as the broad "body of knowledge" increases, that, in turn, leads to further innovation and invention, a point already made by Rodimus Prime (I like the name, too). That is where the cycle is exponential. Of course, other factors allow that to happen, too, the existence of open societies, respect for knowledge, free movement of people, goods, ideas, services, capital, the laws that protect such, and so on. There are quite a number of places on earth where technological innovation on the lines of computer, IT, and the internet could never, ever, have evolved no matter what manner of resources were thrown at such a project.
We have had technical advances such as this before - ones where the impact was revolutionary on the societies of the day - I'd argue the invention of moveable type and consequent development of the printing press had an explosive - indeed a revolutionary- effect on European society (and consequently, the rest of the world), every bit as extensive as modern IT technology has on our lives.
What is of equal interest is to look at technologies which have had a considerable impact on our lives, but which have not significantly developed much beyond the period of their invention and ask why this may have been so; (the obvious example here, is that of the internal combustion engine); of course, cars have evolved/developed hugely since Benz and Daimler refined the concept of the internal combustion engine, but the basics, the core operating principles, of the engine itself have not. Ditto the phonograph (aka the record-player/stereo), or the radio; the changes to design and function did not vary all that much over a century. Until the advent of portable telephones, the mobile, telephone technology had remained fairly static for around a century, too.
Cheers.