• What is the network effect? (Theodore Vail) – The value of a good e.g a phone can only become important/ increase as moer people use it. For example, if only one person had a phone the goods value would be low due to the limited amount of communication it can provide.

• Can you remember what ‘feedback loop theory’? (Norbert Wiener) 21 mins into video – WW2 American Mathmatician. loop of information allows to predict future action – continuous feedback. The idea that your basing predications of the future on habbits of the past. Old media – cannot tell if consumers actually like the product. New media – people/ their actions/ locations can be tracked, this data can then be used in order to improve a product (teen media article) in order to increase sales/ the amount of consumers.

• What is the Dunbar number? (Robin Dunbar) – 150 is the suggested cognitive limit to the number of people with whom one can maintain stable social relationships, in reality the number is lower (4/5). companies can communicate with millions of people.

Internet of things – everyday objects will have embedded computer systems in them –