Media 2.0: Why Media Sucks, pt 4 - The Pit and the Pendulum
So, to conclude (scroll down...), the media industry is trapped between the pit and the pendulum.
Outside, a new, hyperefficient world of value creation is exploding, which is hypercommoditizing media. Inside, there's no way to interface with this world - to understand why industry economics are being disrupted, and new, game-changing models are emerging - because boundaries are closed, conversations are stale, and ideas are obsolete.
What's the answer? I'm, not sure there's a single answer. There will probably be many. My big answer is edge competencies - leveraging the new world of hyperefficient value creation, like Google, MySpace, Zazzle, Last.fm, Threadless, and a handful of others are learning to.
For more, you can check out my New Economics of Media ppt
- or click any of the practice area links above.