A Quote by David Horsey
Yes, the disruption of the Internet can be blamed for the destruction of the business model that once made journalism a thriving, well-paying enterprise, but it has also created an array of new tools for reporting. Somebody will eventually figure out how to make online newspapers profitable - I hope.
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The basic problem is with the business model of journalism. That business model is premised on the idea that talk is cheap and reporting is expensive.
Trying to make certain things on the Internet totally private unless you subscribe. It's not going to work. If you can figure out how to close something down, somebody can figure out how to open it up. That's art.
The profitable part of the online business is very likely several years away. Entering the business because it's the hot topic of the day doesn't make a profitable business nor satisfied customers. That's why it will be a part of Nintendo's strategy, not the mainstay, as other companies are attempting to do. There still are too many barriers for any company to greatly depend on it.
Just like the Internet disrupted the publishing industry, we're going to see Bitcoin micropayments creating some very interesting opportunities for pay-as-you-go, pay-based-on-time online businesses and, frankly, some risks as well to the traditional business model as to how things get sold online.
The music business has made a 360. It's a whole 'nother game. It's not nearly what it was. And I fear for it, because, you know, with the advent of the computer and online and downloading and all these things, they have destroyed - that stuff has destroyed the record business, not the music business, but the record business. The music business is well, and it's alive and thriving. Now, I hope something happens to turn it back around to the point whereas it's - you're earning a living from writing your songs, from your work, you know, because it's not like that anymore.
The easiest way to figure out who the customer is in an online space is to figure out who is paying for the thing. Usually, the people paying are the customers. So on Facebook, the people paying are marketers. That makes them the customers. And it means we are the product being delivered to those customers.
Journalism today is obviously in a major transition. Going to journalism school, learning how to write, working your way up in a little paper in Decatur, Georgia and then moving to Atlanta and then maybe to New York: it's just over. You have to have a whole other set of skills now. You have to be a videographer, you have to do social media. You can't do a long, thoughtful, insightful piece if you don't have the time to do reporting, particularly reporting around somebody who doesn't want to be known or an issue that doesn't want to reveal itself.
Those who blamed aggression formed Amity.’… ‘Those who blamed ignorance became the Erudite.’… ‘Those who blamed duplicity created Candor.’… ‘Those who blamed selfishness made Abnegation.’… ‘And those who blamed cowardice were the Dauntless.
I don't think journalism changes. It's about digging into stories and telling them well. The basic tenets of great reporting stay the same while things around it change. Technology has made reporting easier, but it has also caused job loss. Social media has increased discussion around topics, but it has its own challenges at times.
What the meat industry figured out is that you don't need healthy animals to make a profit. Sick animals are more profitable... Factory farms calculate how close to death they can keep animals without killing them. That's the business model. How quickly they can be made to grow, how tightly they can be packed, how much or how little can they eat, how sick they can get without dying...We live in a world in which it's conventional to treat an animal like a block of wood.
Generally, the technology that enables disruption is developed in the companies that are the practitioners of the original technology. That's where the understanding of the technology first comes together. They usually can't commercialize the technology because they have to couple it with the business model innovation, and because they tend to try to take all of their technologies to market through their original business model, somebody else just picks up the technology and changes the world through the business model innovation.
A lot has been written about the Internet bust. From my point of view, it's quite clear the Internet isn't a category; the Internet is a technological infrastructure that can be deployed to facilitate a disruptive business model or a sustaining business model.
My favourite authors are Jeffrey Archer, for his story telling skills; John Grisham, for the completely new genre he created; and James Patterson, for the way he created a new business model out of writing.
My ambition is to figure out how to help people create their own health and how to turn that into a profitable business.
New York seems to be thriving, which I'm grateful for. But I would hope that they would figure out how to negotiate the traffic and limit the pedicabs, because it seems to me that it's becoming a more chaotic city.
One of the great challenges of our age, in which the tools of our productivity are also the tools of our leisure, is to figure out how to make more useful those moments of procrastination when we're idling in front of our computer screens.
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