The You Economy

The You Economy

How Digital Media is changing the online economy (2010)

By Harry Seggu

This book does give an insight into the changes in social media. It will be better if the author can give a more detailed analysis and perhaps more indepth case examples. One thing I like about the book is that the author uses very simple and straightword words to talk about the topic. There is no big technology words used here. It is good for a layman to read. I am trying to read more about the social media to enhance Ideas are welcomed. If you have good ideas, you can email it to me at

Be daring, be different, be impractical, be anything that will assert integrity of purpose and imaginative vision against the play-it-safers, the creatures of the commonplace, the slaves of the ordinary.  – Cecil Beaton

The term Prosumer was coined by Toffler in his book “The Third Wave” He argued that individuals will no longer be consumers themselves but prosumers. Prosumers are people from an interactive community who produce (ideas) and yet consume (products), which will no longer make the economy a passive one but rather an interactive one.

In 2008/2009 Presidential Campaign, Barack Obama referred to change with the motto “Change we belive in.” Rather than spending millions of dollars in addition with the traditional media, he and his team used the “new media” – blogging, Tweet, YouTube, Facebook and started a multichannel viral marketing campaign which proved to be a success.

YouTube’s maxim “Broadcast yourself” is a clear example of how a consumer can be a prosumer. Obama spend zero dollars on YouTube advertising. Here is a typical instance of how YouTube videos can bring you fame and fortune, through online broadcast and publishing.

Why do you think people get paid in huge sums of dollars ? It is because of their value to the marketplace and that is through intellectual capital. Knowledge is something that is far greater than money and once you have it, no one else can have it. The knowledge triange refers to the “interaction between research, education and innovation, which are the key drivers of a knowledge-based society.”

It is essential that you keep raising your standards and move ahead by being with people of the same caliber. You need to be in the game with them and being in a healthy competition that wil keep driving you forward. It is important that you associate with like minded people to increase and enhance your knowledge triangle.

Learning to learn should be a lifelong quest. The failure to learn and gather knowledge will be fatal to our mental, emotional, physical, spiritual and financial state in the years ahead. Whether it is to develop new skills to face uncertainties or to gain knowledge of the know “how” for a certain trade or to become an innovative competitor, learning should come as a natural action.

The transition of the internet is getting more dynamic and is moving towards real time, which means that everything that is reported or published online is current.

Twitter has exposed its power of real time media in action. People have been able to send out tweets about real time events and happening. Just like the Hudson River plane crash, where people started sending out tweets giving out details of the plane crash as they observe the entire scenario unfold and the events caught fire on the web and everyone was talking about it. Not only are people sending text messages, they are sending out photos through their mobile phones. This is pure citizen journalism as everyone is playing a part in the community.

Twitter is all about links! The links that you post online allows you to build your audience and allows people to follow you or vice versa. Many people are using Twitter as a tool for content referral and it works quite well.

Journalists today are writing content and publishing it online. If you can’t write then you can probably write a short summary of someone’s news and link it back to the source instead of writing the whole news information all over again. That is what architecture of news and content is all about. The same goes that rather than fighting your competition, why not link back to them or the source that you got the information from and this will even help your site to become more valuable by the links that you have to provide. In return it will create value to your site because you are identifying valuable sources that your readership can consume.

Now searching for information about a particular ailment might be a straightforward case. The internet has enabled us to make simple homemade cookies to the extent of making homemade bombs. Some healthcare projects that are useful include (it is like wikipedia of medicine), (focus on new medical breakthroughs, procedures, medical information from all over the world)  or (online web TV project that allows doctors, individuals to listen and watch and learn from doctors)

As technology increasingly become a key ingredient in classroom learning, broadening our knowledge of the technology used in school can really bring benefits whether you are a parent, carer, governor or teacher. The younger generation of today are more engaged in online media and they are more likely to learn online than in any classroom space.

The Open Educational Resources (OER) is a project where teaching and learning materials are available for free. Their main objective is to provide and build a knowledge base for open educational resource that is freely available to student, teachers and lecturers worldwide. Their open source project enables teachers and lecturers to incorporate their educational resource into their own work making it a custom made resource that help institutions around the world with limited teaching resources.

When individuals make money online online they are in return helping the country’s economy. You are playing your part in bringing the cash in and that is a positive move that can recover the economy of your country, but many are blind to this and do not see how they can help. They would rather blame their government for the bad economy.

Viral marketing was known to be word of mouth marketing where your ideas are spread for free where people like you and me are talking and providing free publicity for a product or a service. It is literally free comparing to traditional means of advertising on the mainstream media. In many cases, the most common viral message that people talk about are viral videos. These videos have the ability to spread like wildfire on the internet in just a few short hours after they have been published online.



2 responses »

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