Business Week writes:
Flying blind is the unavoidable consequence of coming to terms with today’s most important demographic group: the tens of millions of digital elite who are in the vanguard of a fast-emerging global youth culture. Because of smartphones, blogs, instant messaging, Flickr, MySpace, Skype, YouTube, digg, and de.lic.ious, young people scattered all over are instantly aware of what’s happening to others like them everywhere else. This highly influential group, many of whom are also well-heeled, is sharing ideas and information across borders and driving demand for consumer electronics, entertainment, autos, food, and fashion. Think of it as a virtual melting pot. As the population of the young and Web-savvy grows into the hundreds of millions, the pot is going to boil. “This kind of globalization is happening. It’s still a young phenomenon, but it’s growing fast, and it’s going to take a lot of companies by surprise,” says Soumitra Dutta, a professor at graduate management school INSEAD in France.
We’re now at the busy crossroads where globalization meets Web 2.0. This presents both a challenge to the old ways of doing business and an opportunity to gain tremendous leverage via the right goods and services.