Brewed Fresh Daily

From Ross Mayfield's blog: We're entering what might be called the Bottom-Up Economy. As the Internet's influence grows, we're seeing its intrinsic egalitarianism and tendency to empower the small start to change many aspects of modern life. Customers today have more options and less loyalty. They will migrate to businesses that see them as participants in a process rather than as just consumers.... Smart companies are already embracing this...This new style of business, birthed by the Internet, is ignored at any company's peril. In the bottom-up economy, presuming you know what the customer wants is the ultimate error. Prahalad and Ramaswamy instead call for 'co-creation of value': The successful products and services from now on will be those developed jointly. Ross' comments on the article: "It's not just that the Internet created the opportunity for the bottom-up phenomenon to emerge. We are compelled by the necessity of our times to work together, be open to change and to continually tinker with simple solutions that work. Because of the degree of connection we are beginning to acheive, these changes may be more persistent and the emergent impact may be greater than we realize."