The first session: Intro to many new terms

Today's my first E&M Commerce class. Though there's a bit of confusion over how to get to the seminar room where the class took place, I made it there eventually. This course was taught by Prof. Gilbert. I found the way he's teaching the course and how the materials were being discussed very interesting. I hope it will stay this way until the end of it.

Web 2.0

In our first session, Prof. Gilbert introduced us to the concept of Web 2.0. One of my classmate mentioned that basically, it's a term for a phenomenon whereby the Internet has now allowed more and more people to interact with each other through various kinds of features and services, like Flickr or Youtube. The keyword here is interaction.

To be honest, even though I've been using such services for quite long time, I've never heard this term before. I was wondering whether there has been any Web 1.0 or Web 0.0 before people had Web 2.0. Thanks to Google, I learnt that there is actually term Web 1.0, though it wasn't quite as popular as Web 2.0 (and I have suspicion that it might as well be created after term Web 2.0 was born). But that doesn't really matter at all.

Back to Web 2.0. This term refers to all the Internet-based services which enable people to publish whatever they wish to - pictures, video, articles - and make it viewable by anyone. It comprises a lot of services; notable ones are wikis, blogs and social-networking sites, like MySpace or Friendster.

Wiki

Something special about wiki was being discussed. I used to know only one wiki, which is Wikipedia (being an engineering student doesn't guarantee you to be a tech-savvy). Apparently, wiki is more general than a free encyclopedia. It covers all website which allows the user to add, remove or edit its content to make it improved and updated.

To think about it, it actually does make more sense. I mean, old-fashioned encyclopedia only relies on those bookworms, journalists, or in general, the authors. Readers have a limited access to make changes or give updated information about particular articles even though it can lead to articles with better quality. What doesn't sound so good as well is that we have to pay for it too.

Wiki is totally in the opposite side of it. With more and more people now connected to the Internet, more wiki users registered, it's only a matter of time until all publisher-version encyclopedias begin to disappear. Such paradigm, where the invention or appearance of new technology takes over the market for the existing service or product, are being discussed next. It is called Disruptive Technologies.

Disruptive Technologies

Again, another new term for me. I have a feeling that it's not only happening this week. There will be more and more new terms for me to learn during the entire course. Hopefully, I can understand as much as possible.

As mentioned above, Disruptive Technologies happens when the use of new technology alter the way people live their life, or to be specific, do the business. People start to look for easier, most efficient, least costly, and better alternatives offered by the new technology.

After he explained the idea behind it, Prof. Gilbert asked the class to come up with an example. I was in a complete blur of what it is. Short discussion with Damar and Setiawan, my classmates, resulted in a quite silly example: Internet auction like eBay or Yahoo! Auction. We barely had any logical reasons to answer Prof's question on how or why eBay might possibly destroy certain industries. Well, there's always first time for everything, right? And who says it has to be correct? Enough. I think I let my over-rationalization way of thinking do too much of the talking.

VoIP

Fortunately, we all have different ways of coming up with the examples. One of my classmates suggested VoIP or Voice over Internet Protocol. Now, this one I've heard and used before. The service is called Skype. It basically uses internet connection to make phone call to other Skype users. At the time I was using the service (around two years ago), I was also able to make a call to the fixed or mobile line users, but it's not for free. Now, people begin to develop a new version of VoIP where people can make a call for free, or at least at lower cost than the traditional phone.

Prof Gilbert says that the potentially losing side is probably the telecom service provider. Since the biggest player in the business here in Singapore is SingTel, Prof asked us to imagine ourselves as SingTel. What will we do if we were them? One possible strategy, which actually has been taken by SingTel is to sell their service in bundles, or lending from its competitor's name: Hub of StarHub. SingTel is now promoting their new service called SingTel Generation Mio. It incorporates all telecom and internet services from fixed and mobile line to broadband connection.

I just saw the TV ad on Channel 5 this evening while watching Prison Break and though I don't have deep background on this area, I must say that it's the right thing to do, even though it's not an original idea. Kudos for StarHub for being ahead from SingTel.

Web 2.0 picture taken from here.

SingTel Mio picture taken from here.