Gutenberg and the social media revolution: an investigation of the world where it costs nothing to distribute information

Richard Stacy ()
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Richard Stacy: Stacy Consulting, Postal: Shrub Farm, Fir Tree Lane, Haughley Green, Stowmarket, UK, IP14 3RL, http://richardstacy.com

Journal of Financial Transformation, 2008, vol. 24, 91-100

Abstract: This article exposes the impact of a fundamental shift in the way information moves within our society, which is generating creeping obsolescence for the business models of organizations involved in the institutionalized provision or mediation of information, be they newspapers or banks, as well as creating a new information space that is currently called social media. The article examines the way in which the disruptive effect of social media is already making its presence felt and sets out a course for organizations who wish to adapt to the world of social media. This is based on shifting investment from control of content and transactional channels into the collaborative, collective, and communal assets where value will sit in a world where power no longer resides in the institutionalized capability to control access to information.

Keywords: social media; social media revolution; Gutenberg; Richard Stacy (search for similar items in EconPapers)
JEL-codes: M30 (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:ris:jofitr:0945

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