New media are computational communication forms using highly interactive digital technologies in hardware and software to process, store, transform, share, retrieve or search them. Examples of new media are websites, blogs, on-line newspapers, social media, and virtual reality. New media is changing our way to capture or create, or to be informed or entertained.
New technology alters the way something is produced or performed eg through computerization or AI-assisted labour-saving automation. Breakthrough or disruptive technologies or a collection of them have a profound impact on our lives. Examples are: AI for everyone, neural networks that imagine, perfect online privacy empowering users to transact anonymously, genetic fortune-telling and sensing cities.
Riding on new media and new technology, value propositions can be captured or created and delivered to the specific target customers effectively and efficiently. New business models based on them can scale ie generating recurrent revenues at the exponential rate without enhancing the cost-structure at the same pace. Even my Google's Local Guides reviews and images attract at least 10,000 views per day.
To stay alive big and ahead fast, entrepreneurs must have a scalable business model. Digital agents or platforms aside, they need analytics to identify and recognize the emerging trend and to have actionable intelligence to excite and delight customers. Collaboration, in terms of capital outlay or in kind, is needed in every business and I believe future benefits-sharing should be the upfront solution!