Edited by Filip Lau
The media industry is undergoing a seismic shift. In the U.S. newspaper advertising revenue plummeted 46 percent while European companies found new models by adding clubs and commerce. Book publishers are fighting over royalties for e-books and with Google over copyrights. Magazine publishers, crushed from a recession that destroyed a business model built on glossy ads, are licensing brands, adding e-commerce, and making sponsorship deals. Who’s on track?
If Facebook is serious about becoming the social index for the entire web, it needs to do more not to just export social networking functionality but to make Facebook itself a more hospitable place for outside web page content to live.
For years people have been lamenting the death of newspapers—and have been offering all sorts of fixes to save them, from changing the copyright laws to keep online aggregators from rebroadcasting the news to encouraging newspapers to adopt the not-for-profit model.
Apps have become tokens of the future. Publishers need to become inventors of everyday science fiction.
There's a cultural bias in business, tech and otherwise, against any information that can't be quantified—that is "soft," subjective, fuzzy. [...] But it is where good ideas come from—and while the data it relies on may not be reducible to numbers, there is actually nothing "fuzzy" about it.
The best CEOs can read a novel and a spreadsheet, Madsbjerg writes, while his overarching message is that we should not forget that companies are made up of people and their customers are people, too.
What Silicon Valley is missing is an understanding of people—what is meaningful to them, the way they live their day to day lives, what would make a difference for them on an ordinary Tuesday in Phoenix or Shanghai. There is a dearth of deep, nuanced cultural knowledge in tech. Luckily, there is an app for that: reading.