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I am not trying to get all polical but I would like to see what others think about this topic. It seems to me that the internet is really the closest thing to a true free market in the world today. It has so far escaped many attempts to regulate and control it and has continued to be one of the few sectors of the economy that is still growing strong.
I think that one of the reasons the internet continues to create so much wealth goes beyond its ability to connect with millions althought that does still play a major roll. When starting an internet business you do not have to pay expensive permiting, comply by strict government regulation, pay fees, pay attornies, waid through legal jargon, hire union workers (not saying anything for or against both have a valid argument), worry about large fines, and all of the common hoops that go along with starting a traditional business. Therefore anybody that comes up with a good idea can log on pay a few hundred dollars and you are in business. It seems like many of the industries that have the highest regulatory burdon are either experiencing stagnant growth or the costs associated with compliance make the task beyond the reach of most average joes looking to start a company. I recently talk with a VP of a small bank and he said they now have more compliance officers then loan officers. This regulatory burdon makes it very difficult for small banks to remain profitable (this could also be a great business idea).
Yes there are a lot of scammers on the internet but I see that as a possitive vs. a negative. When consumers are aware of the prevalence of scammers the value of having a socially proven and credible business carries more importance. It essentially makes it possible for the good businesses to stand out further from the bad businesses.
The internet also opens up the possibilities for regular people looking to make a little extra income, maybe you like to knit and you want to sell some of your blankets. Normally you would need to get a license to legally sell your product (even garage sales require permits in many towns). Now you just list it for sale on ebay or craigslist.
Increased prevalence of pirated content is still viewed as a problem but you look at forward thinking artist like Lil Wayne who have done a great job cashing in on his "free music". I am sure he earns solid revenue from the free videos he posts on youtube and I herd an interview done by his social media guy who says he has a large enough following on facebook that he now recieves money to endorse produce on his page. What was once pirated content is now becoming free marketing.
I am sure there are many more issues that were seen as problems in the traditional world but have become solutions in the digital world. I would like to see what you all think.
I think that one of the reasons the internet continues to create so much wealth goes beyond its ability to connect with millions althought that does still play a major roll. When starting an internet business you do not have to pay expensive permiting, comply by strict government regulation, pay fees, pay attornies, waid through legal jargon, hire union workers (not saying anything for or against both have a valid argument), worry about large fines, and all of the common hoops that go along with starting a traditional business. Therefore anybody that comes up with a good idea can log on pay a few hundred dollars and you are in business. It seems like many of the industries that have the highest regulatory burdon are either experiencing stagnant growth or the costs associated with compliance make the task beyond the reach of most average joes looking to start a company. I recently talk with a VP of a small bank and he said they now have more compliance officers then loan officers. This regulatory burdon makes it very difficult for small banks to remain profitable (this could also be a great business idea).
Yes there are a lot of scammers on the internet but I see that as a possitive vs. a negative. When consumers are aware of the prevalence of scammers the value of having a socially proven and credible business carries more importance. It essentially makes it possible for the good businesses to stand out further from the bad businesses.
The internet also opens up the possibilities for regular people looking to make a little extra income, maybe you like to knit and you want to sell some of your blankets. Normally you would need to get a license to legally sell your product (even garage sales require permits in many towns). Now you just list it for sale on ebay or craigslist.
Increased prevalence of pirated content is still viewed as a problem but you look at forward thinking artist like Lil Wayne who have done a great job cashing in on his "free music". I am sure he earns solid revenue from the free videos he posts on youtube and I herd an interview done by his social media guy who says he has a large enough following on facebook that he now recieves money to endorse produce on his page. What was once pirated content is now becoming free marketing.
I am sure there are many more issues that were seen as problems in the traditional world but have become solutions in the digital world. I would like to see what you all think.
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