by Mike Masnick
Mon, Jan 7th 2008 8:36am
For quite some time now, we've been trying to convince many folks in a variety of industries, but especially the recording industry, to recognize why their rush to create and embrace business models that rely on artificial scarcity was not sustainable. What's been most amazing is how the folks in the industry themselves turn a blind eye to it (or falsely seem to accuse us of just promoting "theft.") However, with the recording industry continuing to struggle, it looks like insiders are finally starting to hear the message. Mathew Ingram points us to a talk given by Yahoo!'s Ian Rogers to a music industry conference last month with the title: Losers Relish Scarcity, Winners Leverage Scale. He goes on to discuss the "physics" of media, which is nothing more than basic economics. However, using the word "physics" makes sense here. For whatever reason (and economists may be at fault here), too many people still assume that economics are what people want to happen or what should happen, rather than recognizing that it describes forces that actually are happening. Talking about economics as "physics" helps get that point across. It's a good pitch, though my experience suggests that the important people won't listen (or, rather won't "hear" what's being said). While much of the industry is figuring this out, the big bosses of the record labels are still a long way from waking up to the reality they face.
If you liked this post, you may also be interested in...
- Man Who Used Facebook Live To Stream Birth Of Child Loses Bid To Sue All The News For Copyright Infringement
- Yahoo's Security Incompetence Just Took $250 Million Off Verizon's Asking Price
- Are Robot Scalpers Ripping You Off? Do We Need Government To Stop It?
- New Economic Study Indicates EU-Canada Trade Deal Will Cause 'Unemployment, Inequality And Welfare Losses'
- Techdirt Podcast Episode 90: Is Capitalism Over?