While I won't speak for all things virtual, it's clear to me that some of the new opportunities, activities and experiences that we are trying to describe with the word are, in many ways, both different than and superior to their physical predecessors. Real enterprises are now popping up on the Internet that cater to a variety of interests and affinity groups. But they are no longer selling just content or other products and services. They are providing an opportunity to exchange information and knowledge with others of a similar persuasion. They are selling the chance to develop new relationships.
Virtual communities are about aggregating people.
Hagel and Armstrong devote their book to addressing the new economics of networking. The Web-based venture, which largely reaches people between the ages of 18 and 34, now has more than 270,000 members. They share ideas in chat sessions and online conferences on everything from the arts to employment opportunities. Tripod generates revenue by selling targeted advertising and subscriptions to expanded services. This will change as customers become more sophisticated capturers and managers of their own information.