W2 Group Discussion 2

Group Memeber:
ZHANG Wen
XU Xin
Wang Yiqi
Angelene LYU Xiaolin
Deborah QUE Yuen Ying
Jessica WONG Cheuk Yi


#Identify 1 example for each of the following concepts 
–Supply and Demand curves
When new iPhones come out, people are crazy for them so they are sold at very high prices; when iPhones are everywhere, people lose interest in them and the demand go down so the prices go down as well.
–The world is flat
Reuters, as a British media agency, hires employees overseas to report the news instead of send their reporters from UK to do the work.
–Moore’s Law
Smartphone processors and Camera lenses get updated faster and faster nowdays.
–Metcalfe’s Law
For Chinese users, WeChat is a more valuable social platform than RenRen because WeChat has more users.
–The long tail
YouTube has very diversified channels (such as handicraft, bakery...)
–Freemium
The game Angry Birds. At the very fist, players download and play the game for free, but later on some upgraded level need you to  pay money to upgrade yourself.

#What may happen 10 years later? 
The world is even flatter, the tail will be longer, privacy will be a BIG issue, wearable gadgets will be more available, more people will go online, products will become homogenous, paid content will be more popular, mobile payment will be more available, digital natives have higher purchasing power, VR and AR will also become more availble...