The new internet economy

Abstract

The new internet economy is related to a new media economy, a new digitalization of the economy which is no longer “new”, an internet media based economy first introduced in the later half of the 90s but only in the most recent years accomplished to manifest a radical reorganization and achievement of an outstanding role as a driver of the economy allowing a broad comprehension of the application and exploitation offered by this hyperconnected era and the “on-life” main feature.

The dissertation focuses on new media opportunities affecting traditional business and lately remodelling the main feature assigning to the individual the prominent role to innovate, as a matter of fact ,the major role performed out of the limelight without a reward, but responsible for the public good though more often for the benefit of a private profit.

The essay will be divided in four major parts, the first one will deal with the Internet, its evolution, the ability of connecting people and businesses, and how ultimately it became the true driver of growth and innovation; the second one is concerned with understanding marketing, the new market opportunities and channels, the innovations, the direct, online, social media and mobile marketing involving new businesses run over the Internet, a communication strategy creating value for target customers advertising and public relations revolutionizing retailing and pricing; the third one is reserved to Facebook and Instagram, as a new innovative method of doing business and making money, the figure of Mark Zuckerberg, as the Schumpeterian entrepreneur, the social responsibility forthcoming from having reduced barriers, entailing privacy protection and security improve from risk ineluctably derive from; and lastly, the fourth one regards the long term future of the existing economic regime i.e the capitalism era, an emerging zero marginal cost involving abundance rather than scarcity concluding with the big data and the internet of things.

Furthermore, the paper inserts a broad speaking introduction of the new economy and the very features surrounding this argument and, of course, a conclusion which takes into account the implications over the very leading actor in this arisen economy: the individual, as evidence of the “on-life” activities and how these can ultimately be turned into an economic source and, therefore, driving the innovative process on which the new economy is based upon, proving once again Smith’s consideration that a private seeking a private good promotes the good of an overall society.