This week Ben Bernanke warned that without new business creation, the US debt levels are unsustainable.
Supposedly we have a vibrant new business creation driver, interactive media (internet & mobile).
What I've read this week sounds like it is written in the context of a vibrant economic boom driven by innovation via interactive media. My comments all relate to what I think it will take for interactive technology to stimulate the eoncomy.
Here are the articles I've read and commented on:
Paid Content: by Ben Huh A Guide To The Cultural Battle That Is Reshaping The Media Business : Makes the point that Internet Culture is in a battle for dominance vs. Popular Culture and suggests that Internet Culture will win.
A VC: Ad Spend Trends: Fred Wilson points out the good news that Internet share of ad$ is up from 0 to 5% in just over 10 years.
Find an airplance to jump out of: Dave Winer tells the NYT that there's still time to take a risk.
Software Product Granularity: building depth-first vs. breadth-first Bradford Cross tells us about the advantages of scaling up software development based on user scenario (breadth first) instead of technology function (depth first).
Why Mark Zuckerberg should have a Carol Bartz Moment Robert Scoble suggests that even if he thinks Mark Zuckerberg has made mistakes, he deserves credit for growing a business, maybe even more than Carol Bartz has done for Yahoo!.
Here are the comments I've made on these articles. In sum, in my opinion, here's what it will take for interactive technology to stimulate the economy:
- Don't rely on a the crumbs of a shrinking pie of advertising spending, instead, create value people will pay for.
- Guarantee to NOT use personal data in ways that violate the sensibilities of the consumers to differentiate paid alternatives from free, ad-based options.
- Interactive and traditional media should use the traditional licensing relationship to collaborate to experiment with and find new value worth paying for by the consumer.
- When developing technology, consider both marketing scalability and user experience in addition to engineering efficiencies.
- Instead of emulating/competing with Google and Facebook, emulate or compete with Steve Jobs and Apple. After all that's what Google and Google's former advertising strategist, Tim Armstrong at AOL, are doing.