"compared the rise of the IoT to the Industrial Revolution"
At first I was going to reply with scorn, but now that I think of it, he may actually have hit the nail on the head.
The Industrial Revolution, by completely ignoring human rights and placing profit before everything else, engendered syndicates, protest marches and the very concept of strikes until corporate magnates got a (feeble) grasp that employees have rights.
The IoT, as of now, runs roughshod over things like security and privacy, not to mention simple things like reliability. This is already starting to get a backlash, so maybe we can envision a future where IoT will actually be comprised of secure, easy-to-use elements that bring an actual improvement to our lives instead of just wirelessly adding a toothbrush to our IPv6 environment.
Who knows, maybe IoT has a bright future after all ?