The Commercialization of the Internet: The Rise of Virtual Economy and Sharing Economy

Posted by Yungang Han Yufan Wang Jifeng Deng

The commercialization of the Internet, as a phenomenon of the utilization and redistribution of network resources that began in the early stages, has led to the emergence and updating of a series of new industries in the booming virtual economy. In recent years, it has rapidly developed and appropriately integrated with the contemporary electronics and service industries, becoming an important pillar industry of the contemporary economy.

“In less than a decade, the Internet went from being a series of loosely connected networks used by universities and the military to the powerful commercial engine it is today.”

One of the most significant is ChatGPT, which has become popular in recent years. As an artificial intelligence software initially developed for non-profit purposes, its development process is the best manifestation of the commercialization of the Internet. AI self-learning inspired by knowledge sharing can freely provide users with search results based on big data and ensure certain accuracy of search results, The payment function enabled by its own platform and its investment attraction in the actual financial market are examples of internet commercialization and connect it to the real financial market, creating a new market for knowledge sharing and search through pioneering services

Another special example is Coursera, an online education software that emerged during the COVID-19 pandemic. It shows the rise of Internet commercialization in an Internet dependent environment. Through a part-time job economy similar to uber, it attracts educators to take part-time jobs online and promotes their education model, The wireless mode of non fixed educational venues has been developed to expand its student market and attract additional education markets with lower operating costs, rather than directly recruiting teachers, providing services through platform based resource accumulation. And it has absorbed additional educational resources with various universities such as Macquarie University and launched online courses in cooperation with different universities in 2023

And the last example is Airbnb. Although it was an early achievement in the commercialization of the Internet and the sharing economy, its development process still reflects the shaping of its overall business model by the Internet economy. Through online user feedback and self correction, it continuously updates its functions. Finally, in 2023, Airbnb Rooms, which brought concentrated improvements to past problems, was launched, For example, introducing regulatory regulations on the negative impact of visitors on the community and incorporating more detailed information provision and preview of houses and landlords, and attempting to leverage its regulatory and improvement role as a third-party platform, rather than just serving as a platform connecting the two parties.

Reference List
Airbnb(2023,May)Airbnb 2023 Summer Release: Introducing Airbnb Rooms, an all-new take on the original Airbnb.

Forbes (2033,Dec)

Macquarie University.