“Information is not a scarcity”

A few ideas from today’s post Jeff Jarvis’ BuzzMachine blog:

“If you are selling a scarcity — an inventory — of any nonphysical goods today, stop, turn around, and start selling value — outcomes — instead. Or you’re screwed. Apply this rule to many enterprises: advertising, media, content, information, education, consultation, and to some extent, performance.”

“Relationships. That’s what the business of media must become. In our New Business Models for News, we began — just began — to project the value of the relationship a new media service can have in its community: creating events; educating; gathering and selling data; selling goods directly (as the Telegraph does, quite successfully); running networks to help others succeed; saving money by collaborating.”

“Information is not a scarcity, or at least it isn’t scarce for long. Yes, when I don’t know something, then the answer is scarce. But now it’s much easier to get that answer; Google will have it in .3 seconds and if it doesn’t and if enough of us ask it, then someone at Demand Media will write it for me and the rest of the world for $20. When news is new, its value is scarce (as Thomson Reuters Tom Glocer says, his information has its highest value in its first 3 milliseconds); but then that value deflates.”

Alrighty then.

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