Hard economic lessons for news

Hard economic lessons for news

I saw this in the TechDirt Daily Email. Mike Masnick offered the following summary:

  • Tradition is not a business model. The past is no longer a reliable guide to future success.
  • “Should” is not a business model. You can say that people “should” pay for your product but they will only if they find value in it.
  • Virtue is not a business model. Just because you do good does not mean you deserve to be paid for it.
  • Business models are not made of entitlements and emotions. They are made of hard economics. Money has no heart.
  • Begging is not a business model. It’s lazy to think that foundations and contributions can solve news’ problems. There isn’t enough money there.
  • No one cares what you spent. Arguing that news costs a lot is irrelevant to the market.

One or more of these themes have been offered as justifications for semantic technologies, including topic maps.

I would add for semantic technologies:

  • Saving the world isn’t a business model. Try for something with more immediate and measurable results.
  • Cult like faith in linking isn’t a solution, it’s a delusion. Linking per se is not a value, successful results (by whatever means) are.
  • Sharing my data isn’t a goal. Sharing in someone else’s data is.

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