You Can’t Make Abundancy Scarce
My brother sent me an email tonight after he heard, Peter Fader speak. Fader is a professor at Wharton School of business at UPenn “doing datamining - they call it marketing.” Apparently, my brother found this talk inspiring, ending his first email in our resulting exchange with:
…he made some damn good points about the subscription model. b2c already is doing ok (campfire, github, etc.), it's time for consumers to pony up. His bottom line: if facebook decided to charge you $10/month, you'd pay it. No questions asked.
If you’re a regular reader of this blog, or know me, or have listened to some of the top minds in this ‘new media’ business, you’ll be pretty easily pick out how totally my brother has drunk the kool-aid of the bass-akwards mind fuck that the ‘old media’ folks try to sell you.
First there was the stone age
Deep breath.
Let’s try to break this down: We are now in the information age. Where once the pinacle of technology was an iron sword, the new tech is information.
Our economy is based on the trade of IP, and yet, paradoxically, the internet has made information practically infinite. Therefore, attempting to make money by controlling the amount of information is doomed to fail.
Put another way: controlling the scarcity of something that isn't scarce can't work.
History is not a good guide here: The internet is a fundamental shift from anything we’ve experienced before. It’s as revolutionary as the printing press and as radical as the written word. It’s both asynchronous and instant two-way communication.
Newsflow: How Journalism Is and Will Be Generated
The News Ecosystem according to Steve Johnson. Click for a larger version.
Steven Johnson, co-founder of outside.in, gave a very good, well thought out, speech at SXSW on the state of the news industry last week. In the transcript on his blog, he shares a slide on how he envisions the future of the news industry.
Steven has a good, albeit simplistic break down of how this new paradigm is working. I'm sure I agree with the flow of the information News → Commentary → Curation → Distribution. Seems to me that you'd have to distribute before you can get comments back, and that you'd need to curate the commentary… Forget it, the the chart is simplistic.
Steven does have the right context for this though:
Now there’s one objection to this ecosystems view of news that I take very seriously. It is far more complicated to navigate this new world than it is to sit down with your morning paper. There are vastly more options to choose from, and of course, there’s more noise now. For every Ars Technica there are a dozen lame rumor sites that just make things up with no accountability whatsoever.
I agree whole heartily with his point and I like the broad strokes of his chart. But, I suggest that this diagram far too simple to describe the new paradigm.
As Steven says, “The implied motto of every paper in the country should be: all the news that’s fit to link.” What his model is missing is the intricacies of linking, how data will be distributed to not only the customer, but among all of those gathering and generating news.
Hypothesizing on the new newsflow
Licensed under Creative Commons. Click for a larger version.
Yea… not as easy to understand right? I’ve got arrows going all over the place, and there’s not clear rhyme or reason to the way information flows. My apologies, these relationships are chaotic and often have many nodes. Let me make the key points:
Data is key. As Tim Berners Lee has predicted, the future of the web is “linked data.” This is is something that Steven addresses, but only briefly. As the semantic web becomes reality, displaying and accessing data will become the important role for journalism to fill.
