The one thing we still had of value was our content—and the professionals who generate it. Yet, instead of making that content scarce—shutting off and suing any digital platform that repurposed our content—we decided that we should try to drive more traffic by prostituting our content . . . everywhere. This was the equivalent of Hermès deciding to distribute Birkin bags through walmart.com so hermes .com could get more traffic. We committed one of the great missteps in modern business history. Overnight we took a luxury brand, spread it through sewer-like distribution, and let the sewer owner
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