Way back at the dawn of time - you know, 1998 - people gave lip service to something called the “New Economy”. Middlemen, it was forecast, would soon be “disintermediated” out of financial transactions as “commerce” became “e-commerce”.
Then the bubble popped, sock-puppet mascots became extinct, real estate companies continued to prosper, and everyone generally took their eyes off the business transformations underway. Recently, however, I was taking stock, and things are definitely changing, though perhaps in slow-mo. Let’s recap:
Encyclopedia salesmen? Gone. Wikipedia and Google rule. ‘Nuf said.
Newspapers? On life support. Readership is down sharply as consumers gain more comprehensive and convenient access to information online. Start writing the epitaph.
Record companies? Current business model is dying. When the cost of reproducing your product falls to zero, it’s hard to make money on album sales.
Real Estate agents? Their days are numbered. Their monopoly over home listings through the MLS Listing service, their key advantage - will end; it’s a matter of time (see Zillow).
You could even say that employers have less control over their employees - especially those who are tech-savvy. Workers who are wise in the ways of the Web can use their online connections to cobble together a decent living by utilizing their social network.
Last, but certainly not least, here’s the kicker I’ve been building up to: software. We’re all familiar with Open Source software these days. The idea is that when you open up your source code to a vast online array of collaborators - when you loosen control - you get better apps.
It seems to me we’re moving towards an Open Source World. As traditional business categories yield to the Information Age, it seems like people will get better information, more conveniently, and at a lower cost. That seems like a good thing to me.
It also seems inevitable.
