1. The social internet is disruptive to traditional business practices; 2. That disruption is an opportunity for small businesses that can move fast; 3. The law hasn’t changed: Everybody has the same legal concerns they had before, and the legal protections provided are the same as they’ve always been. 4. Three approaches to resolving legal issues on the social internet: a. resist the disruption (e.g. regulate new media; tighten the Copyright Act) b. rewrite laws to nurture technological change (e.g. create fair use for trade-marks and copyright) c. “the third way”: embrace disruption within the existing legal framework