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

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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.

Suggested Citation

  • Stacy, Richard, 2008. "Gutenberg and the social media revolution: an investigation of the world where it costs nothing to distribute information," Journal of Financial Transformation, Capco Institute, vol. 24, pages 91-100.
  • Handle: RePEc:ris:jofitr:0945
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    Keywords

    social media; social media revolution; Gutenberg; Richard Stacy;

    JEL classification:

    • M30 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - General

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