A Quote by Jaron Lanier
I mean, you can't have advertising be the only official business of the information economy if the information economy is going to take over.
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Today it's fashionable to talk about the New Economy, or the Information Economy, or the Knowledge Economy. But when I think about the imperatives of this market, I view today's economy as the Value Economy. Adding value has become more than just a sound business principle; it is both the common denominator and the competitive edge.
At the turn of the [21st] century it was really Sergey Brin at Google who just had the thought of, well, if we give away all the information services, but we make money from advertising, we can make information free and still have capitalism. But the problem with that is it reneges on the social contract where people still participate in the formal economy. And it's a kind of capitalism that's totally self-defeating because it's so narrow. It's a winner-take-all capitalism that's not sustaining.
In an information economy, entrepreneurs master the science of information in order to overcome the laws of the purely physical sciences. They can succeed because of the surprising power of the laws of information, which are conducive to human creativity. The central concept of information theory is a measure of freedom of choice. The principle of matter, on the other hand, is not liberty but limitation- it has weight and occupies space.
There are broader and narrower definitions of the new economy. The narrow version defines the new economy in terms of two principal developments: first, an increase in the economy's maximum sustainable growth rate and, second, the spread and increasing importance of information and communications technology.
Having a soft major is nowhere near the career death sentence that so many make it out to be. The world is changing, and the U.S. economy with it. Our economy is shifting to a service- and information-based economy, and soft majors are already becoming more and more valuable.
There's whole television stations, magazines, organizations devoted to analyzing every up-and-down twist and turn, IPO, everything that happens in the formal economy. And yet the informal economy, these black and gray markets, actually make up for almost half of the global economy. And there's so little information that we have about them.
In today's information-driven economy, business and scientific talent constrains growth.
The thing about information is that information is more valuable when people know it. There's an exception for business information and super timely information, but in all other cases, ideas that spread win.
An economy that adds value through information, ideas, and intelligence-the Three I Economy-offers a way out of the apparent clash between material growth and environmental resources.
The most important feature of an information economy, in which information is defined as surprise, is the overthrow, not the attainment, of equilibrium. The science that we have come to know as information theory establishes the supremacy of the entrepreneur because it appreciates the powerful connection between destruction and what Schumpeter described as "creative destruction," between chaos and creativity.
We live in an information economy. The problem is that information's usually impossible to get, at least in the right place, at the right time.
Our economy, for a long while, has been transitioning from one reliant on industrial strength to one based on digital information. The next step in this transition is a digital economy shaped by connectivity.
In the Internet economy, information is everything: The more a company knows about a consumer, the more carefully it can tailor its advertising to that customer, and the more revenue it can generate in return.
It is true that advertising often gives information and is valuable for doing so, but some forms of advertising give precious little information, and even that little is wrong.
The effectiveness of advertising depends on the amount and kind of product information available to consumers... advertising will be more successful the more impoverished the consumer's information environment.
Television is altering the meaning of 'being informed' by creating a species of information that might properly be called disinformation. Disinformation does not mean false information. It means misleading information - misplaced, irrelevant, fragmented or superficial information - information that creates the illusion of knowing something, but which in fact leads one away from knowing.
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