With the wide usage of the internet and mobile apps, various e-business models are created and realized. Although most of them have a short history, their economic and social impact are significant. This paper describes the background and status quo of several representative emerging e-business models, including marketplace lending, mobile-enabled transportation, peer-to-peer rental, and personalized marketing. In addition, this paper discusses how these e-business models are transforming the landscape of our society and our social relations.
TopIntroduction
Nearly forty years ago, futurist Alvin Toffler published The Third Wave (Toffler, 1981). In this book, Toffler describes the evolution of human society as the concept of waves. Specifically, the first wave is the transition of hunter-gatherer society to an agricultural society, which occurred around 10,000 BC; the second wave is the transition of agricultural society to industrial society, which started 200 years ago; and the third wave is the transition of post-industry society to information age, which is happening right now.
Forty years ago, not too many people were using computers. The fastest computer in the world at that time is probably slower than the smartphone in your hand now. Forty years later, when we look around, we are amazed by the accurate predictions made by Toffler and impressed by how much we are dependent on information technology.
Information technology is transforming our society in every aspect, such as education, healthcare, entertainment, finance, transportation, engineering, and more. Information technology revolution can provide us new tools and new experiences, which are especially welcomed by new generations. However, besides the positive impacts, information technology revolution also brings challenges for traditional businesses, which are unfortunately classified as sunset industry. This impact could be massive. In the past twenty years, we have witnessed the rise and fall of various business models due to the revolution of information technology.
Undoubtedly, we are living in a critical era filled with ideas, opportunities, and conflicts, especially in the business field. Information technology-enabled business (e-business) is changing our lives, our society, and our world (Markoff, 2005). Generally speaking, e-business (electronic business) is the conduct of business processes on the Internet. These new business models include e-commerce, mobile payment, marketplace lending, social networking, digital advertisement, mobile-enabled transportation, virtual games, virtual entertainment, and distance education. Some of these e-business models are mature and well known, such as e-commerce. Others are relative new. This paper describes some of the emerging e-business models that are transforming our society, including marketplace lending, mobile-enabled transportation, peer-to-peer rental, and personalized marketing. The objective of this paper is to help readers understand the dynamic features of business activities, especially when they are under the influence of information technology, so that people can better adapt to the changing world.