Meaning: Clement Mok, a prominent businessman and designer, made this thought-provoking statement about the internet and its impact on the business world. The quote suggests a shift in perspective regarding the role of the web, from being initially perceived as a new medium for communication and interaction to becoming a driving force behind a new economy.

Five years ago, when Clement Mok made this statement, the internet had already significantly transformed various aspects of society. The web had revolutionized communication, enabling instant global connectivity and information exchange. It had also changed the way people accessed and consumed content, from news and entertainment to shopping and education. However, Mok's observation highlights a crucial evolution in the understanding of the internet's potential.

In the early days of the internet, businesses and individuals primarily viewed it as a platform for sharing information and engaging with a broader audience. Websites were seen as digital extensions of traditional media, offering a new way to present content and connect with users. The focus was on leveraging the web as a tool for communication and marketing, rather than recognizing its transformative power in reshaping economic structures.

Mok's insight challenges this limited perspective by emphasizing the emergence of the web as a catalyst for a new economy. This shift in perception acknowledges the profound impact of digital technologies on commerce, trade, and financial systems. The internet has facilitated the rise of e-commerce, creating new opportunities for businesses to reach customers and conduct transactions online. It has also given rise to digital marketplaces, enabling the exchange of goods and services on a global scale.

Furthermore, the internet has fueled the growth of digital entrepreneurship, empowering individuals and small businesses to establish online ventures and participate in the emerging digital economy. The concept of the "gig economy" has gained traction, with platforms and apps facilitating freelance work and independent contracting. This new economic landscape is characterized by agility, flexibility, and digital innovation, driven by the pervasive influence of the web.

Mok's statement underscores the need to recognize and adapt to the profound economic changes brought about by the internet. Traditional business models have been disrupted, and industries have been transformed as a result of the digital revolution. Companies have had to embrace digital transformation, incorporating online strategies and technologies into their operations to remain competitive in the evolving marketplace.

Moreover, the internet has facilitated the emergence of new business models and revenue streams, such as subscription services, digital content monetization, and online advertising. The ability to collect and analyze vast amounts of data has also led to the development of data-driven decision-making and personalized marketing strategies, further shaping the new economy driven by the web.

In conclusion, Clement Mok's quote encapsulates a pivotal moment in the understanding of the internet's impact on business and the economy. It signifies a crucial shift from perceiving the web solely as a new medium for communication to recognizing its transformative role in shaping a new digital economy. As the internet continues to evolve and influence various sectors, businesses and entrepreneurs must adapt and embrace the opportunities and challenges presented by this dynamic and ever-changing landscape.