Wikinomics

Dan Tapscott and Anthony Williams published Wikinomics in 2006.  Wikinomics is the economics of collaboration, how through sharing we can make money.  It's about harnessing mass collaboration.

Peering:

• The free sharing of material on the internet.
• Good for cutting distribution costs, bad for people who want to protect their creativity and intellectual property
• Illegally it is classed as piracy and happens in the music industry on many illegal websites
• On iTunes they have a free single of the week where an artist gives their song away for free which helps with publicity, for example this week it is Palma Violets - Tom the Drum

Democratised:

• Democracy, free creativity by ordinary people
• Everyone has a voice
• Youtube allows people to do this, anyone can have an account

The Perfect Storm:

• A combination of technology, demographics and economics
• Media operating without these three things will not be able to compete 
• Youtube is an example of this, artists such as Esmee Denters who was discovered by Justin Timberlake in 2008 who signed her up to his record label Tennman Records. The title single from her album 'Outta Here' reached the top 10 in several european countries

Free creativity:   

• Natural and positive outcome of the free market
• The happy medium is achieved by a service such as Creative Commons, which provides licenses, which protect intellectual property.
• Allows others to remix your material within limits
• Sites like sound cloud allow you to contribute to the site with your own music.

Thinking globally:

• Web 2.0 makes thinking globally inevitable
• The internet is described as ‘the worlds biggest coffee house’
• Instantly the global communication sphere, nation and cultural boundaries are inevitably reduced
• YouTube- the Harlem shake is an example of this as it is something that people recreated via mash ups.  There are 295,000 results for the mash up on YouTube