Wikinomics

Wikinomics is about new way of doing business. The business models are changing rapidly. Most of the examples are influence by internet and the web. The established model of hierarchy, control and information security is made obsolete by collaboration, information sharing and gaming.

Wiki is tapping the netizens and global talents. Many times for free. The new most valuable companies are Google, Facebook, eBay, Craiglist are all internet based company. Luckily, the old school of not going away yet. Many are still employed in traditional business. However, traditional business are losing market share.

Singtel is on the news yesterday. CEO Chua Sock Something is considering service like viber and whatsapps. The two has been chipping away the sms and voice business of Singtel and billing per customer is dropping as many are using the data plan to do free sms or voice call. Poor Singtel is stuck with expensive infrastructure and overhead. It is going to be a rocky road ahead for Singtel.