New Rules for the New Economy - 1 views
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distinct opportunities and its own new rules
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often referred to as the Information Economy, because of information's superior role (rather than material resources or capital) in creating wealth
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all the most promising technologies making their debut now are chiefly due to communication between computers - that is, to connections rather than to computations
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extend the relationships and communications between all beings and all objects
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For example, connecting MailChimp to CRMs, payment gateways (PayPal, Amazon), web store software, and social networks such as Twitter and Facebook.
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Take these principles, then, as rules of thumb for the interim.
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Soon, all manufactured objects, from tennis shoes to hammers to lamp shades to cans of soup, will have embedded in them a tiny sliver of thought.
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estimates that we'll see 500 million of these by 2002
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As we implant a billion specks of our thought into everything we make, we are also connecting them up.
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As we implant a billion specks of our thought into everything we make, we are also connecting them up.
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dumb parts, properly connected, yield smart results.
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Adding a few more members can dramatically increase the value for all members.
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The fax effect suggests that the more plentiful things become, the more valuable they become.
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The compounded successes of Microsoft, FedEx, fax machines, and the Internet all hinge on the prime law of networks: value explodes exponentially with membership, while this value explosion sucks in yet more members.
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anyone purchasing a fax machine becomes an evangelist for the fax network
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Plentitude
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In biology, the tipping points of fatal diseases are fairly high, but in technology, they seem to trigger at much lower percentages of victims or members.
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The Network Economy is a lily pond. The Web, as one example, is a leaf doubling in size every six months.
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By contrast, networked increasing returns are created and shared by the entire network.
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We use the supreme virtues of networked communications to directly and indirectly create better versions of networked communications.
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Indeed, all items that can be copied, both tangible and intangible, adhere to the law of inverted pricing and become cheaper as they improve.
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the most valuable things of all should be those that are given away.
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Once the product's worth and indispensability is established, the company sells auxiliary services or upgrades, enabling it to continue its generosity and maintaining this marvelous circle.
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Cellular phones are given away to sell their services.
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In a Network Economy, innovations must first be seeded into the inefficiencies of the gift economy to later sprout in the commercial economy's efficiencies.
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Giving stuff away garners human attention, or mind share, which then leads to market share.
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Cellular phones are given away to sell their services.
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First, think of "free" as a design goal for pricing.
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First, think of "free" as a design goal for pricing.
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irst, think of "free" as a design goal for pricing
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First, think of "free" as a design goal for pricing.
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First, think of "free" as a design goal for pricing.
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First, think of "free" as a design goal for pricing.
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First, think of "free" as a design goal for pricing.
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First, think of "free" as a design goal for pricing.
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First, think of "free" as a design goal for pricing.
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Second, while one product is free, this usually positions other services to be valuable.
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Network Economy
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dumb parts, properly connected, yield smart results
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So strong is this network value that anyone purchasing a fax machine becomes an evangelist for the fax network. "Do you have a fax?" fax owners ask you. "You should get one." Why? Your purchase increases the worth of their machine.
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Lower tipping points, in turn, mean that the threshold of significance - the period before the tipping point during which a movement, growth, or innovation must be taken seriously - is also dramatically lower than it was during the industrial age.
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Almost from their birth in 1971, microprocessors have lived in the realm of inverted pricing.
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A network is like a country. In both, the surest route to raising one's own prosperity is raising the system's prosperity.
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The net is like a country, but with three important differences: 1) No geographical or temporal boundaries exist - relations flow 24 by 7 by 365. 2) Relations in the Network Economy are more tightly coupled, more intense, more persistent, and more intimate in many ways than those in a country. 3) Multiple overlapping networks exist, with multiple overlapping allegiances. Yet, in every network, the rule is the same. For maximum prosperity, feed the web first.
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Finding the next peak is suddenly the next life-or-death assignment.
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In the Network Economy, the net wins. All transactions and objects will tend to obey network logic.
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When you are solving problems, you are investing in your weaknesses; when you are seeking opportunities, you are banking on the network.
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By Kevin Kelly Twelve dependable principles for thriving in a turbulent world
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