Wisdom of the Crowds in “Who Wants to Be a Millionaire?”
https://www.telegraph.co.uk/culture/books/3620109/Always-ask-the-audience.html The Wisdom of Crowds is useful in games such as “Who Wants to Be a Millionaire?” where players are given the option to ask the crowd to answer a question for them. Any random vote doesn’t mean much, but taken together, the collective wisdom of all the votes tends to be very accurate. Even […]
Reverse Network Effects
Link: https://www.wired.com/insights/2014/03/reverse-network-effects-todays-social-networks-can-fail-grow-larger/ This article discusses network effects for social media companies, and how the network effect can actually begin to negatively affect a social media site. As the article states and as we discussed in class, the network effect is important for young social media companies, as the website becomes more valuable as more people […]
Best Practices in Order to Prevent the Spread of Infections
As discussed in class, the spread of a disease can be represented mathematically by values k*p where k is equal to the number of people within reach of the infected and p is equal to the probability the disease actually transfers. To prevent the mass spreading of disease, may efforts work towards reducing these p […]
Information Cascades on Twitter
https://www.nytimes.com/2016/11/20/business/media/how-fake-news-spreads.html This article assesses the role of Twitter, a social media platform, in the cultivation of information cascades. All forms of social media are comprised of networks; these applications provide means of bidirectional communication among friendships, families, pop culture, and even mainstream news outlets. Naturally, information cascades often occur within user-based network populations. Twitter, however, […]
Too Much TV, Not Enough Time
https://www.usatoday.com/story/entertainment/tv/2019/11/14/disney-plus-apple-tv-plus-streaming-wars-ruining-tv/2516655001/ In her article, “Too much: Why the streaming wars between Apple, Disney, HBO and more are ruining TV,” Kelly Lawler touched on the media revolution that has seen the rise of the streaming platform. Behemoths like Netflix, Amazon, and Hulu dominate the industry in which technology has completely overturned how consumers devour content. […]
Epidemics
Resource: https://www.cdc.gov/vitalsigns/containing-unusual-resistance/index.html Dangerous antibiotic-resistant germs can spread easily. In this article and video, the CDC seek to prevent this spreading by noticing that unusual resistance is easily contained when it has yet to spread. The Containment Strategy would encourage Health departments to act swiftly with health care facilities and CDC at the first sign of […]
Network Effects and the New Era of Business
https://fortune.com/2019/11/15/mckinsey-new-era-business-strategy-questions-companies-should-ask/ Companies have now entered a new era of how business is conducted. It is important that these companies adapt and adjust to the new way the world is operating. As a whole, individuals around the world are better off although inequality has also increased significantly within countries. “Developing markets” will account for half of […]
Facebook begins to make changes to help competing social networks
https://www.nytimes.com/2019/12/02/technology/facebook-photos-EU.html Facebook is implementing a data portability tool in Ireland that allows users to easily move pictures and videos from Facebook to Google Photos. This comes in response to European privacy laws and criticism from regulators that its size hinders competition through the network effect. The goal of these changes is to make users […]
Comparing the “Market for Lemons” to the UK Used Car Market
In the United Kingdom, there is a growing issue of used cars being listed for sale without all the proper information needed to make a purchase. Cars that are written off by insurance companies must be reported to the UK’s version of the DMV, the Driver and Vehicle Licensing Agency (DVLA). These cars then must […]
Tipping Points and the Strategy of Disney+
https://variety.com/2019/digital/news/disney-says-disney-plus-has-over-10-million-signups-1203403515/ Disney+, the recently newest streaming service released by Disney, has acquired over 10 million subscribers since its launch. The streaming landscape, dominated by companies such as Netflix and HBO, is highly competitive and hard to break in to. Furthermore, it is a market where a service requires a significantly large number of subscribers in […]
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