Don Tapscott’s "The Digital Economy, Anniversary Edition: Rethinking Promise and Peril in the Age of Networked Intelligence" examines the transformative impact of the digital revolution, using the music industry as a key example. In the 1990s, the internet’s disruptive potential was evident, as seen in R.E.M.’s early online promotion, but record labels resisted change, clinging to outdated physical distribution models despite inefficiencies. Tapscott highlights their failure to embrace the internet’s potential for direct artist-fan connections, illustrating the "innovator’s dilemma." By 2003, he proposed a shift from music as a product to a service—streaming—which later became mainstream with platforms like Spotify. This model offers sustainable revenue, vast access, and personalized experiences. Beyond music, Tapscott argues the digital economy is reshaping capitalism into "Capitalism 2.0," prioritizing collaboration, open knowledge, and social innovation, as seen in IBM’s use of Linux and Nike’s GreenXchange. Governments, too, can leverage openness for better governance. However, resistance from traditional institutions persists, requiring visionary leadership to navigate challenges like inequality and ensure a just, inclusive future. Ultimately, the digital revolution is about redefining human interaction, work, and society.

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