Wikinomics, Grouponomics, Social Media is changing the world


I was wowed this morning when I learned that Groupon is the fastest growing company ever. (I was also surprised to find that the second fastest growing company was Priceline.com.) As the Forbes article mentions, “Groupon” has taken a place in the lexicon of online shopping and is moving into our cultural consciousness. It was even mentioned in a comic in the latest New Yorker Magazine.

This is just the latest example of how social media is changing our economics and thereby our society. The terms for these new ways of doing business, such as “grouponomics” or “wikinomics” are as innovative as the methods themselves, and capture the spirit of the enterprise.

It’s exciting to watch the change all around and to take up our tablet iDevices and play, knowing that we’re a part of this transformation as well. Who knows, the next great idea for utilizing the read/write Web might come from a small liberal arts college student in central Ohio, encouraged by forward-thinking faculty…