As an industry, mapping has unfolded in waves over the past 50 years. Demand is skyrocketing for physical applications that take full advantage of the internet and location intelligence. In mapping's Third Wave, the role and importance of data, metadata, and reusable —sometimes proprietary — algorithms are greatly expanded. The power to attract developers and applications will come in the form of platforms and platform business models. To thrive in the Third Wave, master software industry capabilities and developer love.