Reading 6: Wikinomics: How Mass Collaboration Changes Everything - Don Tapscott & Anthony D. Williams

Chapter 10 - Collaborative Minds

This chapters describes various ways in which companies have adapted to the digital age and explains other ways in which revenues can be made by adopting different approaches. It discusses some of the previous examples from the beginning of the book such as Wikipedia, IBM and Linux. The author also makes reference to the Goldcorp example which Mauri discussed in the lecture. Goldcorp had shared their data with the outside world which lead them to become the biggest gold mining company in Canada. The overtone of this chapter is that major changes have come about since web 2.0 and the mass exchange of information. This is largely due to the availability of software and hardware which has helped amateurs bridge the gap between professionals in the industries.

One example from this chapter conerned the music industry and how they should adapt to the ways users are acquiring music and suggested a total different approach was needed to stay ahead.

Radiohead had released their last album on their website only and allowed users to download it and pay what they wanted to pay. The average payment was 6-8 dollars and since they are independent from a label they don’t share the revenue.

Comments on chapter

I understand that some software companies are also adopting this model of allow users to pay what they want for the product as this entice users from illegal downloads and also promotes the continued development of the products in question.