If any doubt remained about the power of web application-based industry, they were wiped away by the recent news of Apple’s purported $3.2M takeover of the Dr. Dre-driven Beats Music, which is poised to provide the iTunes Radio service provider extra ammunition in its web-based rivalry against Pandora and Spotify for listener’s ears—and subscription and advertising dollars. How did virtual come to replace brick-and-mortar startups, with companies such as Netflix wiping Blockbuster Video out of existence, and what other innovative companies and clever entrepreneurs should be on our radar?
Thursday, May 15, 2014
Monday, May 12, 2014
Exchange of goods and services happens every day around the world. Here are two scenarios in which it may occur.
1. The Middleman
I have an orange, and you want my orange. We agree that you can have my orange if you wash my car. You wash my car, and I give my orange to a stranger along with a dollar bill. That stranger hands the orange to you and keeps the dollar. You have been paid your one orange and the stranger has been paid a dollar for being the middleman in our transaction. This is how most of our monetary transactions currently happen.
2. Peer Exchange
I have an orange, and you want my orange. We agree that you can have my orange if you wash my car. You wash my car, and I give you the orange. No one has witnessed the transaction but the two of us, but we know I had an orange and gave it to you. No third party was involved, and we both got what we wanted: a sweet juicy orange and a clean car.