Virtual Consumption ' Now there is not just B2C Commerce but also CZC |Commerce 0 People can easily meet to talk about products and such, these are called Virtual Brand Communities 0 Digital Native: describes students that have grown up wired in a highly networked, always- on world where digital tech had always existed 0 Horizontal Revolution: information doesn't just ow downwards anymore like from big companies and the gov., but now also across people as well like with social media ' Social Media: online means of communication, conveyance, collaboration and cultivation among interconnected and interdependent networks of people, communities and organizations enhanced by technological capabilities and mobility 0 Synchronous Interactions: happen in real time, like texting back and forth 0 Asynchronous Interactions: you don't have to reply right away People are also contributing, such as YOUTUBE! Social media enables culture of participation: the ability to interact freely with other people and organizations, have access to venues that allow users to share content, and power to build on other people's content