Examines implications of the networked economy for e-commerce business start-ups. Revisits the notion of "value" and "value creation" in a network context. Examines "value" relative to technological innovation. Looks at implications of the network environment for the organization and transformation of the enterprise's internal governance called for in the new economy. Examines implications of the "new rules" for Access Point, the new Philips multimedia business venture. (Contains 19 references.) (AEF)