Hot Topic - Digital Transitions
Game changer is the most overworked term in the digital era. Every digital anything must be one, at least once, lest the risk of becoming a loser, the toughest epithet to shake. In good times, consumers embrace game changers. The masters of high finance ring the big bell for game changers, which are easier to explain than pork bellies. Games changers, however, are in the business of being game changers. Some have succeeded wildly. Digital media has been the pride of free-market economics; no rules, no taxes.
These are great times for economists. A year or so ago public health scientists were getting all the attention, particularly infectious disease specialists. Before that climatologists had starring media roles, however briefly. Their feature may actually be in reprise. Economists are called to explain inflation - increasing prices - and recession - declining economic activity. Sometimes they delve into solutions for both. They use charts and graphs.
Digital technology investors began pulling the escape-hatch levers this spring. This was particularly evident with publicly-traded markets, which have always received inordinate attention. From well-heeled fund managers to day traders company shares were being dumped for gold and real estate. Some - but not all - discretionary consumer-facing businesses have been battered. This is more than a cycle, said many financial market observers.
Just about every employer sets out rules and expectations of employees. The bigger the employer, the bigger the HR department, the bigger employee handbook with rules meant to keep the workplace calm and orderly. Sometimes employers extend the rules - and their concerns - outside the workplace; don’t get arrested, don’t embarrass the boss. Civil liberties advocates and unions try to keep limits on intrusive employer rule making.
Social media has been in the news lately. Actually, social media is always in the news, mostly because it’s always there. In that respect, social media is like the Kardashians; basically useless, always in the news. Since inception, social media has traversed several vectors. Most persistent is the hustle.
New media in the digital age has been defined by not being old. The most distinguished do not appear on a printed page or hurl their words through the airwaves, though podcasts and TikTok videos are recently adopted features. They are also, in a general sense, pure players, specialist digital publishers tied together and itself by the internet. Investors and venture funds have shown them considerable love.
Digital media, if nothing else, continues to redefine itself. Something news, or slightly new, pops out everyday. Stuck with platforms of old, traditional media does not have a chance with customers fixated on novelty. To overcome this, says current wisdom, they have no choice but to join the metaverse.
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