The media has lost its stronghold over the production and distribution of knowledge. Consumers of media are now also producers of media.
Over the last decade, social media has emerged as an innovative tool which has managed to disrupt traditional business models, governmental proceedings and news reporting. Web 2.0 has changed the way that business is conducted, facilitated mass mobilization of political protests and altered power dynamics in the media.
[This article republished with permission from the author and the Tuck School of Business.]