How is the Internet affecting the changing business cycle? Thirty years ago information moved much slower than today! People communicated primarily via “snail mail”, telephone or face to face. In addition, information was obtained from the newspapers or magazines.
The Internet is changing all of that. Today you have email, instant messenger, Twitter and LinkedIn. If you are like me, then you are getting your newspaper online and reading blogs for the latest trends. Now trends and ideas ripple through the economy or business community in days and weeks, not years!
Whereas, before if you had a business idea or strategy you had about three years before serious competition appeared. Now you are lucky to have six months head start before someone else adopts your ideas.
Consequently, the rapid exchange of information has resulted in violent shocks to the economy. These shocks are fast and the swings are extreme!
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