Let us face it that Covid19 has shown to our faces how important it is to have digital networks as well as service platforms. Just try imagining how our life would be 20 years ago with a slow internet connection; the likes of Netflix, YouTube, social media or video conferencing tools would not become available. It is undoubtedly nice to have digital network.
It has actually changed the way we live our lives today. While we are all aware of how it altered the way of our living, it is essential to consider too whether companies offering such services should be given the liberty in making the rules about their processes and operations.
New Rules for the New Normal
As a matter of fact, it isn’t strange that the innovators were also the ones who are setting the new rules or standards for the innovations they have created. At the end of the done, they’re the ones who see what lies ahead. Just like an example during the industrial revolution, it was the industrial capitalists with the names of Carnegie, Morgan and Rockefeller who have established the rules. On the other hand, these days, it becomes important to assert public interests in foreseeing these said activities.
The services and connectivity developed by information capitalists become extremely important for it to be left without public participation in the determination of the rules being followed.
Consumption of Information and Assets
What this basically means is that, the critical nature of digital services are warranting representation of public interest in deciding about their practices. We are well aware that the results of the companies that are making the rules and because there’s no public representation, public information now becomes a corporate commodity. Likewise, since companies are making their own set of rules, they’re free of hoarding data they need in thwarting new services and potential competitions.
The way how information economy works is far more different from how the industrial economy reacts. Companies that are operating in both industries should invest in necessary equipment and plant as well as the economics of how such investment would perform in different assets. Just as an example, if you plan to buy TikTok fans in the online market sphere, you can reuse the same program over and over for the next clients.