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jerryking : information_rules   10

BETTER THAN FREE
[2.5.08] | EDGE | By Kevin Kelly.

This super-distribution system has become the foundation of our economy and wealth. The instant reduplication of data, ideas, and media underpins all the major economic sectors in our economy, particularly those involved with exports — that is, those industries where the US has a competitive advantage. Our wealth sits upon a very large device that copies promiscuously and constantly....how does one make money selling free copies?

I have an answer. The simplest way I can put it is thus:

When copies are super abundant, they become worthless.
When copies are super abundant, stuff which can't be copied becomes scarce and valuable. When copies are free, you need to sell things which can not be copied. What can't be copied?
(1) "Trust." Trust cannot be copied. You can't purchase it. Trust must be earned, over time. It cannot be downloaded. Or faked. Or counterfeited (at least for long).
(2) Immediacy
(3) Personalization
(4) Interpretation — As the old joke goes: software, free. The manual, $10,000.
(5) Authenticity — You might be able to grab a key software application for free, but even if you don't need a manual, you might like to be sure it is bug free, reliable, and warranted. You'll pay for authenticity.
(6) Accessibility — Ownership often sucks. You have to keep your things tidy, up-to-date, and in the case of digital material, backed up. And in this mobile world, you have to carry it along with you. Many people, me included, will be happy to have others tend our "possessions" by subscribing to them. We'll pay Acme Digital Warehouse to serve us any musical tune in the world, when and where we want it, as well as any movie, photo (ours or other photographers).
(7) Embodiment — At its core the digital copy is without a body. You can take a free copy of a work and throw it on a screen. But perhaps you'd like to see it in hi-res on a huge screen? Maybe in 3D? PDFs are fine, but sometimes it is delicious to have the same words printed on bright white cottony paper, bound in leather.
(8) Patronage — It is my belief that audiences WANT to pay creators. Fans like to reward artists, musicians, authors and the like with the tokens of their appreciation, because it allows them to connect. But they will only pay if it is very easy to do, a reasonable amount, and they feel certain the money will directly benefit the creators.
(9)Findability — findability is an asset that occurs at a higher level in the aggregate of many works. A zero price does not help direct attention to a work, and in fact may sometimes hinder it. But no matter what its price, a work has no value unless it is seen; unfound masterpieces are worthless. — being found is valuable.
network_effects  free  Kevin_Kelly  value_creation  digital_economy  immediacy  scarcity  personalization  abundance  findability  patronage  embodiment  accessibility  authenticity  interpretation  replication  Information_Rules  value_added  superfans  SaaS  ownership 
november 2011 by jerryking
Meet the New Monopoly, Same as the Old One
November 19, 2010 | Technology Review | By Brian Bergstein.
A New book argues that concentration of power is an inevitable result
of new communications networks.
Tim_Wu  monopolies  Information_Rules  corporate_concentration  market_power 
november 2010 by jerryking
Currents: Tim Wu on Communication, Chaos, and Control
October 11, 2010 | : The New Yorker: | Jeffrey Toobin talks
with Tim Wu, a professor at Columbia Law School and the author of “The
Master Switch: The Rise and Fall of Information Empires,” about how
forms of communication, from the telephone to the Internet, are
eventually controlled by monopolies; the battle between Apple and
Google; and the future of information technology.
web_video  interviews  monopolies  future  Tim_Wu  Information_Rules  competitive_landscape 
november 2010 by jerryking
In the Grip of the Internet Monopolists - WSJ.com
NOVEMBER 13, 2010 | WSJ | By TIM WU. In the Grip of the New
Monopolists. Do away with Google? Break up Facebook? We can't imagine
life without them—and that's the problem.
Google  Facebook  monopolies  Tim_Wu  Information_Rules 
november 2010 by jerryking
Seth's Blog: Information about information
Posted by Seth Godin on July 15, 2010.

information about information. That's what Facebook and Google and Bloomberg do for a living. They create a meta-layer, a world of information about the information itself.

And why is this so valuable? Because it compounds. A tiny head start in access to this information gives you a huge advantage in the stock market. Or in marketing. Or in fundraising.

Many people and organizations are contributing to this mass of data, but few are taking advantage of the opportunity to collate it and present it to people who desperately need it. Think about how much needs to be sorted, compared, updated and presented to people who want to choose or learn or trade on it.

The race to deliver this essential scalable asset isn't over, it's just beginning.
information_flows  Information_Rules  Seth_Godin  data_driven  competingonanalytics  overlay_networks  sorting  metadata  slight_edge  compounded  inequality_of_information  multiplicative  cumulative 
july 2010 by jerryking
The Web Gets Ugly
Dec. 6, 1998 | New York Times Magazine | by Paul Krugman
Information_Rules  informal_economy  Paul_Krugman  economists  economics  Hal_Varian 
july 2009 by jerryking
Hal Varian on how the Web challenges managers
January 2009 | The McKinsey Quarterly | interview with Hal
Varian . We have to look at today’s economy and say, “What is it that’s
really scarce in the Internet economy?” And the answer is attention.
[Psychologist] Herb Simon recognized this many years ago. He said, “A
wealth of information creates a poverty of attention.” So being able to
capture someone’s attention at the right time is a very valuable asset.
And Google really has built an entire business around this, because
we’re capturing your attention when you’re doing a search for something
you’re interested in. That’s the ideal time to show you an advertisement
for a product that may be related or complimentary to what your search
is all about.
management  strategy  innovation  McKinsey  psychologists  attention_spans  Information_Rules  Google  Hal_Varian  digital_economy  scarcity  attention  intentionality  information_overload 
july 2009 by jerryking
The Three Sexy Skills of Data Geeks : Dataspora Blog
Hal Varian, Google’s Chief Economist, was interviewed a few
months ago, and said the following in the McKinsey Quarterly:
“The sexy job in the next ten years will be statisticians… The ability
to take data—to be able to understand it, to process it, to extract
value from it, to visualize it, to communicate it—that’s going to be a
hugely important skill.” Put All Three Skills Together: Sexy. Thus with
the Age of Data upon us, those who can model, munge (data wrangling, sometimes referred to as data munging, is the process of transforming and mapping data from one "raw" data form into another format with the intent of making it more appropriate and valuable for a variety of downstream purposes such as analytics) , and visually
communicate data — call us statisticians or data geeks — are a hot
commodity.
analytics  data  data_scientists  data_wrangling  career  _paths  Hal_Varian  Information_Rules  statistics  visualization  value_extraction 
july 2009 by jerryking

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