I wonder with the Internet, Social Media and Communication infrastructure that now exists if it will change business models in a substantial way?  My guess is yes.  I am almost uncomfortable with using the term "capitalism" to describe our economic system anymore.  Only because I don't think it accurately describes what is there.  The term, of course, arose with the concept of someone with capital creating an infrastructure such as a factory and then hiring the people who work there.  The owner was the capitalist.  I am totally for them.  The model overall created tremendous growth and a vibrant middle class. 

However,  with the digital infrastructure in place, it seems as though capital is not the critical component, or at least dominating enough to use the term to describe the model.  I am more comfortable with a "market economy" description but even that does not fully capture the enormous change that has and is taking place.  More valuable than capital it seems is the network you have or are able to tap into.  This must redefine how business is done.  The business models will be different.   And yet for many products, one has to wonder exactly how the change will work.  

I appreciate social media but I don't want to be bothered with any kind of social media for what kind of soap I might use or what cereal I choose to eat.   How do you market those kinds of products through social media?  I will never be a Facebook friend or a fan of a cereal brand or many, many other products.  But for music,  knowledge resources,  like minded communities, some services,  etc. social media does have significant merit I think.   And that has to impact on the business models we use now and into the future.  What do you think?

Read the full post