Mitch Joel's Blog: Six Pixels of Separation, page 306
November 3, 2012
Six Links Worthy Of Your Attention #124
Is there one link, story, picture or thought that you saw online this week that you think somebody you know must see?
My friends: Alistair Croll (BitCurrent, Year One Labs, GigaOM, Human 2.0, the author of Complete Web Monitoring and Managing Bandwidth: Deploying QOS in Enterprise Networks), Hugh McGuire (The Book Oven, LibriVox, iambik, PressBooks, Media Hacks) and I decided that every week or so the three of us are going to share one link for one another (for a total of six links) that each individual feels the other person "must see".
Check out these six links that we're recommending to one another:
As We May Think - The Atlantic . "In 1945, an extraordinarily forward-thinking professor wrote an article for The Atlantic entitled, As We May Think . It's frightening how accurately he foresaw many of today's biggest trends -- and if he was right about today, why not tomorrow? It was the end of World War Two, and thousands of scientists had to turn their minds from war to peace. Vannevar Bush talks about digital imagery ('dry photography'), the Internet ('the common record'), ubiquitous computing ('modern keyboard accounting machine') and of course his most famous moniker, the Memex ('... a device in which an individual stores all his books, records, and communications, and which is mechanized so that it may be consulted with exceeding speed and flexibility. It is an enlarged intimate supplement to his memory.') This is a long read, but seeing him grapple with complex concepts and the constraints of his time--and still anticipate a world seventy years later with amazing accuracy--is astonishing." (Alistair for Hugh).
Some Advice From Authors on Avoiding Online Distractions - The New York Times . " Ben Yoskovitz and I have two weeks to finish the first draft of Lean Analytics . There's a lot to do, even though we've been grinding away at it since April. So this was a timely piece of writing: how do prominent authors manage to produce content in an increasingly interrupted world?" (Alistair for Mitch).
Amazon Is a Black Hole Threatening To Devour Corporate America - Slate . " Amazon is an amazing company in many respects, and perhaps most amazing for its relationship with Wall Street. Price to earnings ratio (P/E) is a number used in financial analysis of stocks that compares the price of a single share of a company to the profits per share made by the company. Companies with low P/E ratios are generally not expected to become significantly more profitable in the future. Banks for instance, are relatively conservative investments, typically with lowish P/E ratios (eg. Wells Fargo has a P/E of 10.66). Big, mature tech companies usually have higher P/E ratios (eg. Google 's P/E is 21.15). Smaller pharma companies typically have big P/E ratios (eg Alexion , with a P/E of 69.1) since they don't make much money now, but Wall Street is betting they will in the future. But Amazon. Amazon. Amazon. .... Amazon has a P/E ratio of an incredible, truly incredible 3,403. This means that Wall Street expects Amazon to mature into a business whose profits are 348 times their current numbers just to *equal* Apple 's P/E ratio/valuation (13.6). This is nuts, and basically means that if you are in a business that competes with Amazon, Wall Street is willing to give AMZN as much capital as it wants to put you out of business, no matter how much money it loses in the process." (Hugh for Alistair).
What's Wrong With Online Reading - Randy Connolly . "A must-read slide deck on the problems with online reading. Research seems to show that our interaction with online text is radically different than our interaction with paper text. Whether or not this is 'good' or 'bad,' it almost definitely 'is.' What should we, as readers, and those of us who teach, do about it?" (Hugh for Mitch).
The Future of Higher Education: Massive Online Open Disruption - Big Think . "I never got a degree from university. At the time, I was already neck-deep in my first business (publishing music magazines). I had to drop out to keep up with the business. I always figured I could make my way back to university if business didn't work out for me. I haven't been back. That being said, I would still love to get a degree... at some point. It's less about the piece of paper and much more about the chance to learn with others. Education is an area that keeps drawing me back in. I often wonder why you can't acquire a degree much in the same way you buy songs on iTunes . Wouldn't it be wonderful to take a business class at Harvard and one on innovation from Stanford ? After building a program and running through the courses, individuals could be awarded their build-your-own diploma degree. I'm not the only one who thinks this way. In fact, the future of America's prosperity probably lies in how quickly they can reform education and help their young people get a degree that's worth something more than a lifelong of debt to repay it." (Mitch for Alistair).
Jack Kerouac's List of 30 Beliefs and Techniques for Prose and Life - Brain Pickings . "Need some motivation? Not just to write and to create, but to live? Jack Kerouac offers thirty tips for writers that winds up being a list of sage life advice. When I think about Kerouac, I think about the fact that he died when was only 47. I think about the impact he had on the world and the imprint he left on the literary world is such a short period of time. HIs list is great, but I gotta hustle if I want to leave any semblance of a legacy." (Mitch for Hugh).
Now it's your turn: in the comment section below pick one thing that you saw this week that inspired you and share it.
Tags:
alexion
alistair croll
amazon
apple. randy connolly
ben yoskovitz
big think
bitcurrent
brain pickings
complete web monitoring
gigaom
google
harvard
hugh mcguire
human 20
iambik
itunes
jack kerouac
lean analytics
librivox
link bait
link exchange
link sharing
managing bandwidth
media hacks
pressbooks
slate
stanford
the atlantic
the book over
the new york times
vannevar bush
wells fargo
year one labs
November 2, 2012
The Responsibility Of Twitter
What is Twitter doing to ensure that the information we read and share is accurate?
This is the crux of a New York Times article posted on October 31st, 2012. It could well be one of the most important reads about Twitter (and, social media) in a long, long time. The article titled, On Twitter, Sifting Through Falsehoods in Critical Times, looks at many of the false tweets and information that were being floated around on Twitter during Hurricane Sandy. This information caused more than a little confusion in the state of New York and New Jersey, and many people were eager to retweet all of this mis-information. The New York Times took Twitter to task:
"While people are learning to accept information posted to the social Web with a large grain of salt, they may not be able to distinguish between useful updates and fake ones during a crisis or disaster, which can become dangerous. Bad information might set off an irrational decision that could lead to panic, or worse, put them in harm's way. A search is on for promising technological solutions, but for the time being, it is up to users to police the service."
This is not Twitter.
One could argue that Twitter is the publisher and responsible for all content that flows through the channels. One could also argue that Twitter is just a publishing platform and fact-checking each and every tweet is an act of impossibility. In fact, watching information flow on Twitter makes me suspicious of the notion that even a new technology can solve this problem. The article concedes a point that I believe - and that Twitter hopes for - a self-correcting community. That, much in the same way, the members of the Twitter community initiated the concepts of the retweet and hashtag, that they could be equally effective is rooting out the wrong on Twitter and letting everyone know about it. I have faith in humanity, but my faith may not be that strong.
140 characters the fast way.
I've seen some funky Twitter antics first-hand. For instance: I'll post a long blog post, link to it via Twitter and see a ton of tweets retweeting me only a few seconds later. There is no chance that any of these people had the time to click my link, read my blog post and then create a tweet about it. And yet, it happens all of the time. How many fake celebrity deaths do we need to have before we realize that people are quick and easy when it comes to retweeting anything controversial?
Get media savvy.
Don't rely on Twitter, Facebook or blogs to tell you the truth. Do your own work. On January 30th, 2011, I published a blog post titled, Get More Media Savvy. We need not only the publishers of content online, but the readers and sharers of this content to get much more media savvy. No, this doesn't require anyone to get a degree in media studies. It just means that in a world where anyone can have an idea and share that thought in text , images, audio and video, we can't rely on the platform that allows us to publish to become our fact-checkers. We're all going to have to do the long, hard work of better understanding what it means for everyone to be a media source and a media creator. We're consumers, creators and curators all at once, in a real-time environment where 140 characters are as easy to send as hitting an "enter" key.
It's up to you.
Twitter and no other social media channel is going to get this right. The only thing that is going to get this right is you and I. So, if you're media smart and your neighbor isn't, the best move isn't to blame Twitter, but to help out your neighbor (and their kids). We teach reading, writing and arithmetic in school. We need to get media in there as fast as possible. I'm not talking about workshop or a field trip, but raising the priority to the level of reading and writing. Why? Because where does the majority of reading and writing happen in this day and age? It's happening online... in the palms of our hands and on our screens. So, when we're all publishers... we all must all become more aware of what it means to be a media property.
Don't blame Twitter.
Tags:
140 characters
facebook
false tweets
hurricane sandy
information
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retweet
self correcting community
social media
social media channel
social web
twitter
writing
November 1, 2012
Creative Entrepreneurship... Kickstarter Style
Is Kickstarter still the most exciting thing happening in the digital media channels these days?
In June 2012, I penned a blog post titled, The Most Exciting Thing Happening In Digital Right Now. It was all about Kickstarter. I'm as bullish on Kickstarter as I was back then. In two short statements:
Kickstarter enables everyone to be a true patron of the arts - at any level.
Kickstarter implodes the chasm of entrepreneurship that exists between ideation and execution.
Do you need more proof?
If you have yet to spend any time on Kickstarter or if you haven't bought anything from one of the people trying to Kickstart a project, this presentation by Yancey Strickler (Co-Founder of Kickstarter) takes you deep down the well of how the business model came to be, what they're trying to accomplish and how they are creating a renaissance for entrepreneurs. It's over ninety minutes, so pack a lunch...
Tags:
business model
creative entrepreneurship
digital media
kickstarter
yancey strickler
Is The iPad The New TV?
I've been noticing a new media habit emerge.
There used to be a time in the evening, when I would close the lid of my MacBook Air, plug in my iPhone for the night and turn to the warm glow of the television to forget about the day I just had and not spend too much time thinking about the day that was ahead of me. It could be an episode of Charlie Rose, but it could also be something a little more mindless like American Pickers. It was my way of unplugging and letting someone else do the heavy lifting for my media diet. Nothing to friend, follow, respond to, create, post, publish, etc... Just sit back and let some content wash over me. It was the perfect way to sail off into the night.
Now, there's this iPad thing.
I don't know about you, but after I close the lid of my MacBook Air and plug the iPhone in for a nightly recharge, I'm more apt to grab my iPad and play with content. It could be watching an episode of television on it, it could be a documentary from iTunes. It could also be reading some content via Flipboard or even watching some videos on YouTube. One of the big complaints about the iPad was that it was a device for media consumption and not one for media creation. While that gap is quickly closing thanks to newer apps and the advancements that the device has had from its first generation to the current fourth generation, it does feel like the iPad is becoming the new TV... just a little bit.
I'm not the only one.
I had a note in my Moleskine notebook to write a blog post about this. The note reads: "is my iPad my new television?" Then, Marketing Charts published a news item today titled, Smartphones Work Round The Clock, Tablets Come Out At Night. It turns out that I am not the only one. That there is an increase in people who are using their iPads at night. Granted, this news item isn't saying that iPads are replacing television. It could well be that people are using them as a companion device to television. From the news item:
"Tablets are more distinctly a leisure-time platform than are smartphones, based on the apps that consumers use. Tablet users spend more time using media and entertainment apps, including games (67% of time spent), entertainment (9%) and news (2%) categories, comprising almost four-fifths of consumption. Smartphones have a higher claim to communication and task-oriented app usage, including social networking (24%), utilities (17%), health & fitness (3%) and lifestyle (3%), comprising nearly half of all time spent on smartphone apps... Data from both sources suggests that smartphones are used more on the go than are the larger-form tablets, although it's important to remember that smartphone use is also above-average in the evening hours, suggesting that much of the time spent with smartphones occurs in the home."
Bigger formats win in the home.
All of this makes sense. If you have a smartphone and a tablet, and you're sitting at home, why wouldn't you default to the bigger screen? The bigger question (and one that isn't answered in the two research reports that the Marketing Charts news items sites) is this: how is increased tablet use at night either interacting with TV or replacing it? There's no doubt that these are early days, but I have this itch that I can't scratch... and it's a feeling that these tablet devices are becoming the type of media and entertainment that television is doing everything it can to transform itself into. That's not a slight against television, but the new reality of a world where the consumer is creating their own uses and habits, as companies and industries struggle to find their way.
Aren't you curious to see how this all plays out?
Tags:
american pickers
apps
charlie rose
companion device
entertainment
ipad
iphone
macbook air
marketing charts
media
media habit
moleskine
new media
smartphone
social networking
tablet
television
tv
October 31, 2012
The Power Of Imagination
Another testament to the power of a fully integrated marketing message.
I was watching a television commercial for a luxury automobile the other day. It was your typical standard fare as far as car advertisements go. Rolling hills, a beautiful backdrop, a sports sedan buffed to perfection and the sound of the engine humming through nature. You could close your eyes and imagine yourself there. It happens. As standard and traditional as some advertising may seem, on any given moment it can suck you in. Sometimes it has less to do with the creative and much more to do with the mindspace that the consumer is in when the message happens across their synapses.
This was one of those moments.
While I didn't yearn to be the proud owner of this automobile, the scenery sucked me in. I closed my eyes and thought about my upcoming vacation. It felt good. I caught myself having this feeling and found myself wondering when was the last time I felt this way about a brand in the social media channels? When was the last time that a consumer review or someone with social capital... or even a brand advocate helped me connect with a brand in a ways that enraptured my imagination? That doesn't really happen... does it?
Great advertising does many things that social media will never compete with.
Stories come in all shapes and sizes. To say that one form of media dies because something different comes along is way off base. What this commercial reminded me, is that advertising does something that social media has yet to do: fosters a sense of persuasion through imagination. Social media is very practical and powerful. It helps us get critical information and opinions from those we know, like and trust. It's very rare that a recommendation - on anything - inspires your imagination. That it suspends your reality and takes you on an adventure.
I'm not an advertising advocate.
Please don't confuse this blog post with a message that advertising is the best way to reach a consumer. It's just one way... now in a world of many ways. Each brand will have to figure out their own formula for success. I often tell people that marketing, branding and advertising is like a sink with a faucet. Each brand will have to figure out how much to turn the hot and cold handles until it gets the water to the right temperature. Or, as Seth Godin likes to say, "your mileage may vary." I'm sure there are many brands who think that social media holds all of the answers to their success... and I'm equally certain that there are many brands who think that traditional advertising still consistently outperforms digital media and drives sales. I'm sure there are arguments for and against both of those statements as well.
Don't belittle the power of unleashing the imagination.
Sure, digital media will have you clicking and sharing some jaw-dropping creative executions, but there's something about watching a story (even a small one, like an ad) and just allowing yourself to get lost in it as your imagination roams. Think of it as stopping to smell the roses... in an advertising kind of way. It was a nice feeling... it was a feeling that I haven't had in a long time, and it's not the type of feeling I ever get in a flurry of online social networking tabs, updates, comments, pings and more.
It's something to think about...
Tags:
advertising
brand advocate
branding
consumer
consumer review
creative
digital media
great advertising
marketing
online social network
seth godin
social capital
social media
television commercial
traditional advertising
October 30, 2012
Why Newspapers Let Sandy Blow Paywalls Down
With Hurricane Sandy happening, the Wall Street Journal and New York Times took down their paywalls.
Unbiased media is a public service. Still, it is one that we pay for. Whether it is a subscription to the local newspaper or access to cable on television, media isn't ever truly free. We pay for the devices to access media, we pay for connectivity and we pay for enhanced services. The challenge is that the Internet isn't just a media channel, is it? With more and more connected people (think about mobile devices being more prevalent than safe drinking water and bank accounts), the Web is edging ever closer to a basic, public service than a container for YouTube videos or New York Times editorials. It's going to be a challenge to figure out how to get information to spread as widely as possible and with more and more countries claiming Internet access as a basic human right, it will be interesting to see how paywalls play out.
Is the Internet a a basic human right or just another media channel?
There are two perspectives to the taking down of a paywall:
The altruist might think that the New York Times, Wall Street Journal and others are helping the masses with a public service. This enables all of us to have a certain quality control over the content we consume online about Hurricane Sandy (still, after nearly two decades of commercialization for the Internet, we trust traditional major publishers over the local blogger). We turn to these traditional and trusted sources for the most accurate and up-to-the-date information.
The cynic might see a very different picture. As more and more readers flock to websites like New York Times and Wall Street Journal, these businesses have the unique opportunity to capitalize on all of that attention by selling their digital advertising at a more premium price and - at the same time - they're able to serve a lot more of those ads. Yes, newspapers (and other media channels) make a lot of advertising revenue when consumers are glued to their channels. This is one of the key factors that makes weather networks (both traditional and online) so financially successful. On top of that, tearing down the paywalls during times that are so highly trafficked enables these media outlets to offer a "free preview" of what consumers could be missing if they are not already subscribed. Online media properties are hoping that people get hooked and addicted to their service, so that when the paywalls go back up, they can capture more full-time subscribers.
It's a soft sale.
There is nothing wrong with media companies building strong revenues and there is no doubt that the more precarious the news is, the more likelihood that there will be interest by the public. What makes this situation both unique and different is how easily technology enables information to be free and shareable or locked down and private. With a flick of the switch these massive publishers control access to information. We can debate the good and the bad of this, but what is important is how instant the access is... or isn't. In a sense, media companies are newsjacking their own content in an attempt to build brand loyalty and a larger user base. Part of the dynamics of this shift also happens because technology enables systems like real-time bidding for advertisers. So, while everyone is waiting in lines for non-perishables at Whole Foods and trying to stock up on flashlights and Doritos, advertisers are lining up to buy premium advertising rates, and the publishers are are opening up the funnel to serve as many of those ads as they digitally can to keep the revenue pumping in at a fast, furious and expensive pace.
Call it an advertising hurricane, if you will.
The above posting is my twice-monthly column for The Huffington Post called, Media Hacker . I cross-post it here with all the links and tags for your reading pleasure, but you can check out the original version online here:
The Huffington Post - Why Newspapers Let Sandy Blow Paywalls Down .
Tags:
access to media
advertising revenue
blogging
brand loyalty
business column
cable television
connectivity
digital advertising
editorial
enhanced media services
huffington post
hurricane sandy
internet access
local newspaper
media
media channel
media hacker
media outlet
mobile device
new york times
newsjacking
online media
online publisher
paywall
public service
real time bidding
trusted sources
unbiased media
wall street journal
whole foods
youtube
October 28, 2012
Digging Deep Into Facebook Marketing
Episode #329 of Six Pixels of Separation - The Twist Image Podcast is now live and ready for you to listen to.
It's hard to believe that Avinash Kaushik didn't turn his blog post, Facebook Advertising / Marketing: Best Metrics, ROI, Business Value, into a book. He should have. This one is a whopper. Over 10,000-plus words (and yes, do whatever it takes to make the time read it). What's interesting is that Avinash is the Digital Marketing Evangelist at Google. This doesn't mean that he only evangelizes for Google. He evangelizes about digital marketing. The blog post was so powerful, I was compelled to have him back on the show to talk about Facebook marketing and what the true opportunity is for brands and agencies. The best-selling business book author of Web Analytics - An Hour A Day and Web Analytics 2.0 doesn't disappoint. Take a listen and enjoy the conversation...
You can grab the latest episode of Six Pixels of Separation here (or feel free to subscribe via iTunes): Six Pixels of Separation - The Twist Image Podcast #329.
Tags:
advertising podcast
avinash kaushik
blog
blogging
brand
business book
david usher
digital marketing
facebook
facebook advertising
google
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marketing
marketing blogger
marketing podcast
online social network
podcast
podcasting
social media
web analytics 20
web analytics an hour a day
October 26, 2012
Six Links Worthy Of Your Attention #123
Is there one link, story, picture or thought that you saw online this week that you think somebody you know must see?
My friends: Alistair Croll (BitCurrent, Year One Labs, GigaOM, Human 2.0, the author of Complete Web Monitoring and Managing Bandwidth: Deploying QOS in Enterprise Networks), Hugh McGuire (The Book Oven, LibriVox, iambik, PressBooks, Media Hacks) and I decided that every week or so the three of us are going to share one link for one another (for a total of six links) that each individual feels the other person "must see".
Check out these six links that we're recommending to one another:
When A Daughter Dies - Freakonomics . "There can be no greater sadness than to bury one's child. In this guest post on Steven Levitt 's Freakonomics blog, Steven's father chronicles the last months of his daughter's life. It's harrowing, but also gives unusual insight into how the medical system works. As he writes, 'I have attempted to relate the experiences of a father/physician as he watches his daughter die of cancer.' Her course was a testament to the limitations of medical care. In this era of molecular biology, the most valuable medication was morphine, a drug that has been available for almost 200 years." (Alistair for Hugh).
A Beginner's Guide to Personal Integrity - Think Different . "We hear a lot about how marketers have to be genuine, consistent, and authentic. Much of this has to do with the way we assign trust (something our friend Julien Smith talks about a lot in his awesome new book, The Impact Equation , but that's not the point right now). This post by Bob Marshall attempts to define integrity--something you wouldn't think needed defining, but, well, here we are. As Bob says, 'There can be no friendship without confidence, and no confidence without integrity.'" (Alistair for Mitch).
Apple, Samsung, Google and the smartphone patent wars - everything you need to know - The Guardian . "The Apple / Samsung patent war explained." (Hugh for Alistair).
Hundreds Register for New Facebook Website - The Harvard Crimson . "I don't see what the big deal is, if you want to post stuff, just post it on your blog. I don't get what value Facebook adds." - Hugh McGuire, 2008. (Hugh for Mitch).
Panetta Warns of Dire Threat of Cyberattack on U.S. - The New York Times . "We're all sticking our heads in the sand when it comes to cyber security. It's not sexy and it's not something that the vast majority want to think about. So, think about this: where is your money? Do you think it's piled up in some bank vault? It's not. It's a bunch of zeroes and ones. Credit card information? Same. The management of things like electricity and the water purifiers in your city? Yup, all controlled by computers... the kind that get hacked. It's going to take more than articles like this for people to wake up, but it's a reality and it's going to happen. It is an inevitability. I'm no doom-monger, but it just seems like we're woefully unprepared. I hope everyone read this article... and takes the information to heart." (Mitch for Alistair).
Exoskeleton Could Help Astronauts Run A Marathon In Space - PSFK . "When something uses the word 'exoskeleton' it gets my attention. I love this sort of stuff. Imagine having an exoskeleton that could take over for your muscles when you get tired... or add power to what your muscles are already doing. Singularity anyone? I've been on the Makers kick for some time now and I do think that robotics is going to be big, huge and important to business moving forward. The possibilities will, truly, be endless. Let's be honest, it's a great time to be alive!" (Mitch for Hugh).
Now it's your turn: in the comment section below pick one thing that you saw this week that inspired you and share it.
Tags:
alistair croll
apple
bitcurrent
bob marshall
complete web monitoring
facebook
freakonomics
gigaom
hugh mcguire
human 20
iambik
julien smith
librivox
link bait
link exchange
link sharing
managing bandwidth
media hacks
pressbooks
psfk
samsung
singulairty
steven levitt
the book over
the guardian
the harvard crimson
the impact equation
the new york times
think different
year one labs
The Way We Talk About Business
How do you feel about yourself?
If I told you that we were going to evaluate you every quarter to see how you were performing, how would you feel? Some companies do reviews every six months, some do them once a year. Is the expectation that you will always be better reasonable to you? Pushing that further, what if I told you that every quarter you have to be better, be earning more money, be healthier and more? Better? Smarter? Healthier? Faster? Richer? How would you feel? For some, it would be motivating. For others it would be intimidating (count me in this camp). Regardless of how you might feel about this exercise, at what point in the process do you stop being able to continually be awesome? It has to happen, doesn't it? Can you always - constantly and consistently - deliver against expectations (no matter how unreasonable).
The game of Wall Street is going to have to end.
No, I'm not moving away from capitalism... I'm just being a realist. Yesterday, I was reading a news item on Business Insider titled, Apple Just Announced Awful iPad Sales. My stomach sunk. How is this possible? The iPad had been outselling desktop computers since the launch of iPad 2, Amazon, Google, Samsung and others have been aggressive to enter the tablet market. Last week at the Consumer Electronics Association CEO Summit, many senior executives from Sony, Panasonic and VOXX expressed their bullish outlook for the tablet market. After three years of the iPad being in market, was it saturated? Are we done? Here's what the article from Business Insider says:
" Apple just announced that it sold 14 million iPads during its fiscal fourth quarter. This is a massive disappointment. Two reasons:
Apple's iPads business actually shrank q/q. 14 million iPads sold in Q4 is 3 million fewer than the 17 million Apple sold in Q4.
Apple missed analyst expectations. Until Tuesday, analysts were all predicting that Apple sold 17.5 million iPads during the quarter. Then, when Apple announced the iPad mini, it pre-announced some disappointing sales figures and analysts revised their numbers to 15 million. So Apple missed original expectations by 3.5 million, and pessimistic, revised expectations by 1 million."
How depressing...
Apple only sold fourteen million iPads in one quarter and that is three million less than Q4. On top of that, how dare they miss analysts expectations? Have we really come to the point in humanity that selling fourteen million of anything in one quarter with solid margins and profits is considered a "massive disappointment" and "awful"? What's wrong with business today? The public market is pushing too hard for everything to be better, sell more and do more than it did last quarter. Does anyone really think that Apple is about to stall? That the tablet market is now mature? That any of Apple's news is truly awful?
It's not just Apple.
We need some Wall Street reform. Amazon was getting it too today. Their shares fell about five percent. They only had a net income of $63 million this quarter. I know what many investment bankers and financial advisors will say. They'll tell us that this is the nature of business. It doesn't have to be. With the economy being in the shape that it's in, we would be well-advised to celebrate companies like Amazon and Apple and not punish them publicly. Amazon made a bad choice in investing in LivingSocial (which seems to be the brunt of the bad news in this instance). Elevating the business to a 30,000 foot view may be apropos.
It's time to start re-thinking how we frame failure and success when it comes to business.
Tags:
amazon
apple
business
business insider
business reform
capitalism
cea
cea ceo summit
consumer electronics association
desktop computer
financial advisor
google
investment banker
ipad
ipad 2
ipad mini
livingsocial
panasonic
samsung
sony
tablet
voxx
wall street
More About Making
People are not quick to realize the potential that will emerge from the Makers Movement.
Yes, the ability to hit a "make" button from your desktop as simply as it is for you hit the "print" button may not be just around the corner... but it's not that far off. Yes, today, the ability to do anything significant with 3D printing and robotics is cumbersome and relegated to a small few, but let's not forget the feelings we all had when home computers were first introduced. They too were extremely cumbersome, hard to use, complicated and costly. Currently, the average consumer wouldn't even know what to do with these types of devices... and that's perfectly fine. We had no idea what we would do with a home computer, either.
What we can't afford to do is to ignore the future.
I am currently reading Makers - The New Industrial Revolution, the latest business book from Chris Anderson (editor-in-chief of Wired Magazine and author of The Long Tail and Free) very, very slowly. I tend to read books like this slow for one reason (and one reason only): I do not want it to end. Reading Makers reminds me of the first time I read The Cluetrain Manifesto. It just feels like technology is going to make everything change (again). This one, practically, reeks of a new global economy (and I don't take those words lightly). Yes, I realize that the vast majority of current Maker culture is relegated to hobbyists, but I just can't help but imagine a world where highly customized and branded products are created, produced and distributed in a very different way.
From Chris Anderson...
"What we're clearly doing is enabling a new class of entrepreneurial companies that can address markets of ten thousand. You know, ten thousand is kind of an arbitrary number, but when you think of ten thousand, it's too small for a big company and too [large] for an individual. And yet, what the maker market does is that it allows you to prototype things, get funding, and then have access to manufacturing that can sort of scale up. It allows you to target to those markets of 10,000. Now, some of those markets of 10,000 are going to stay at 10,000, they are niche, the 'long tail' stuff if you will, referring to my first book. But some of them are going to be the next markets of 10 million. And, what's great about the markets that start at 10,000 and then kind of organically make it to 10 million, is that those products are going to be ones the world has asked for, that the world has helped develop. They've passed the test of the marketplace."
If you don't have the bandwidth to read Makers, check out this conversation with Chris Anderson from TechCrunch TV.
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