Friday, July 22, 2005
I have no time to blog today, but this paper by Henry Jenkins is absolutely essential Media 2.0 reading. This paper is absolutely killer - free of a lot of the fluff that makes so much media theory irrelevant for me - highly, highly recommended (Via Foe Romeo - bolding's mine).
"...Soap talk, Baym notes, allows people to 'show off for one another' their various competencies while making individual expertise more broadly available. Fans are motivated by epistemaphilia - not simply a pleasure in knowing but a pleasure in exchanging knowledge. Baym argues that fans see the exchange of speculations and evaluations of soaps as a means of 'comparing, refining, and negotiating understandings of their socioemotional environment.'
...The old commodity space was defined through various forms of decontextualization, including the alienation of labor, the uprooting of images from larger cultural traditions so that they can circulate as commodities, the demographic fragmentation of the audience, the disciplining of knowledge, and the disconnect between media producers and consumers. The new information space involves multiple and unstable forms of recontextualization. The value of any bit of information increases through social interaction."
The Big Picture: Earnings & Reactions
Interesting comments on different reactions to seemingly similar earnings announcements.
Tuesday, July 19, 2005
Kleiner Perkins' latest start-up: Zazzle
This is incredibly cool.
Zazzle is a market place for peer-produced goods. It is almost a textbook application of Umair's explanation of peer production
. In fact, anyone who's kept up with the peer production meme developed by Umair over the last couple of years, for example his gushing enthusistically over threadless,
can immediately see the forces that'd give rise to Zazzle.
The point is this : The Atomizing Hand need not, and will not, operate only within the realm of digital goods. The reason why micromedia is emerging as the hotbed of peer production is only because of the low coordination costs associated with microrpoduction of digital goods. Make no mistake, though : media (and open source) is only a laboratory to develop, test and refine the peer production model. As the model becomes better understood, it will start migrating into non-digital goods. If peer-production is to emerge as the *dominant design* of the econ of organizing production and go beyond Coasian notions of transaction costs, then it is inevitable that intermedieries like Zazzle would emerge in this new eco-system. Personally, I am convinced that this will happen.
If you think about this, it boggles the mind to think of where all of this could lead to. I remember reading in Carl Haacke's fantastic book "Frenzy" that people tend to overestimate the short term impact of innovation but underestimate it in the long term. Truer words have not been spoken yet.
Monday, July 18, 2005
The Bribery Gap - CFO.com
Required certification of internal controls over financial reporting is especially meaningful to a company facing a decision whether to report any improper payments. The Public Company Accounting Oversight Board's Audit Standard 2, issued in connection with Section 404, says a company's internal controls must provide "reasonable assurance" that payments and receipts are authorized by management and the board.
Standard 2 provides a "direct connection between Sarbanes-Oxley and the FCPA," says Jonny Frank, New York-based head of the fraud risks and controls practice at PricewaterhouseCoopers. That means that a bribe payment, as described by the FCPA, also represents a breach of a company's controls over unauthorized payments.
In other words, says attorney Atkinson, "if someone has been able to pay a bribe, your internal-controls system has failed."
The unintended consequence of Sarbanes-Oxley is more transparency enforced upon US-listed corporations. An interesting, if somewhat accidental, legal innovation.
Sunday, July 17, 2005
The Long Tail: Does the Long Tail apply outside of media and entertainment?
Charlie Munger : Art of Stock Picking
Recent & upcoming sessions:
Supernova 2007 (video)
the big picture
uhaque (dot) mba2003 (at) london (dot) edu