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Unformatted text preview: pplications is enabling consumers to participate in creating content and services online. Examples include Web 2. 0 efforts such as social networks, blogs, Twitter, and wikis, as well as efforts such as Skype and BitTorrent, which leverage the collective hardware of their user communities to provide a service. These efforts have grown rapidly, most with remarkably little investment in promotion. Nearly all of these new efforts leverage network effects to add value and establish their dominance and viral marketing to build awareness and attract users. Experts often argue whether Web 2. 0 is something new or merely an extension of existing technologies, but it’s more important to appreciate the magnitude of the impact of the current generation of services. Peer production and social media fall under the Web 2. 0 umbrella. Social media refers to content that is peer produced and shared online. But peer production also includes services that are enabled when users collaborate (examples include Skype and BitTorrent). Many Web 2. 0 services often leverage the wisdom...
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This document was uploaded on 01/31/2014.

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