As a get-to-know-you exercise, I recently asked a new crop of college students what their hobbies were. Some were taken aback. Hobbies? What a frivolous thing! Who has the time? They’re not alone.

It will take years to transform business, but the journey begins now. by Marco Iansiti and Karim R. Lakhani Contracts, transactions, and the records of them are among the defining structures in our ...