Dunbar’s number– is a suggested limit to the number of people with whom one can maintain stable social relationships this number is 150. (Robin Dunbar)

Network Effects– describes how the value of a good or service increases as more people start to use that good or service. (demand increases, the value of the good/service increases) (Theodore Vail)

Loop theory– Using previous data collected to predict future behaviors. For example walking. (Norbert Wiener)

Who really benefits from a digitally networked society? Big business or individuals ?

Generally big businesses benefit from from a digital network. This because they can predict what goods and services people will want in the future they can do this by using the loop theory. This is when a business will use data previously collected to predict future behaviors. For example teen vogue can see what people are drawn too first and which topics they are most interested in to create more content that they know people will be interested in. Therefore they will benefit as they will return to the page and hopefully become loyal to the online magazine.

New vs Old

New media is different from old media as the content is endless , there is always something for people to consume,where as old media would come to an end for example a book will eventually come to a stop.This relates to teen vogue as it always updates its content therefore the consumers wont get bored and can binge on there content.

New media can be personalized as online businesses can track what you are interested in and personalize the content to what people want to see.

A free platform is important as it allows people to accessyour goods and serviced for free, they re more likely to return where as if you charge them for just trying to browse they are more likely to look else where.