New Word for the Day #8522

I have just come up with a new name for a new style of business activity (specifically for someone else’s new business opportunity).

Disinteremediation

I will keep the meaning to myself. Commercial in confidence and all that.

This new word makes as much sense as the existing term, disintermediation.

‘Dis’ is a prefix that means ‘apart’, ‘asunder’, ‘away’, ‘utterly’, or having a privative, negative, or reversing force.

‘Intermediation’ involves the ‘matching’ of lenders with savings to borrowers who need money by an agent or third party, such as a bank.

‘Disintermediation’ in this context is the reduction in the use of intermediaries by investing directly in the securities market rather than through a bank.

Therefore the term ‘disintermediation’ first came into use in the finance sector which was one of the first supply chains to be bonsaied by ITC technologies.

But the use of this term has expanded to include any supply chain that is being gutted by new internet businesses.

That is, the action of any new style of internet business that acts to reduce the number of corporate entities involved in any transaction between producers and consumers. Or any B2B subset of the supply chain between producers and consumers.

Jim Clark was much more eloquent on the subject. He said that the internet it is all about creating a new business that is ‘just one big asshole in the middle’.