The Internet has made possible markets of enormous scale and diversity by connecting people together irrespective of geography. In this context, networks and markets are closely related. Listen to Dion Hinchcliffe talk about the ability of today's networks to create outcomes previously not possible and how some high-valuation startups of today have succeeded by tapping into these networks.
Video Transcript: Digital Business and Networks of Value
This is the first time in human history that we have literally live contact with almost every person on the planet, in the developed world obviously and to everybody. And every resources with things like the Internet of Things, we’re going to be connected with all value right, directly connected so we can receive value from it, we can transmit value to it as a business, and that is something that is truly unique and has never happened before. And so as global networks are now allowing us to enlist a value that is on that network, of these global networks to create outcomes that just haven’t been possible before.
So if you look at these large fast growth Internet companies that spring up and are now worth you know tens and sometimes hundreds of billions of dollars in just a very short amount of time – a handful of years or a decade at the most.
And if we look at what they have in common, it’s this ability to tap into their networks, and they don’t create as much value as they make it possible for the network to create more value for itself. And again, these are the biggest populations and the biggest audiences that we’ve ever seen.
If you look at the assets for any given start-up organisation has, these are the values that are out there.