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Category: markets

Times have changed, and space has changed too

Sottsass Typewriter

I’ve been thinking of the dis-intermediation of printing. The disruption of the book, the magazine and the newspaper are in the headlines. A change is upon us, the valuation of things and the physics of the economy are irreversibly new. The big companies that employ thousands are the ones we think of most. The ones with the most reach, the powerhouses, the giants, the ones with the furthest to fall seem the most tragic. It’s a trans-valuation of all values.

But my mind wanders to the little literary magazine, the publishing project done for the love of it. These little magazines always seem to lose money and struggle on year after year. There’s an industry of writer’s workshops across the country that coach and prod writers to fill the pages of the little literary magazines. The interesting thing about these little magazines is that it still takes a lot of money and infrastructure to publish them. Desktop publishing brought the price down, but there’s still the editing, design, printing and distribution.

We now have a publishing medium that allows direct distribution of text over the network. Blogging software has become the new typewriter, and publishing is as easy as Tim Berners-Lee originally imagined it would be. The little literary magazine serves the purpose of a filter, it finds the best writing. But the cost of the filter is not much more than the cost of producing the printed matter. Is the writing about the tradition of ink on paper, or is it about the art of putting one word after the other?

The other thread this tangles up with is Hugh Macleod’s idea of the global microbrand. Hugh writes and draws cartoons from a small town in Texas called Alpine. It’s just up the road from Marfa, Texas, the place where sculptor Donald Judd established an outpost for modern art and minimalism in 1971. Times have changed, and space has changed too. Used to be that Marfa was a long distance from New York City, now it’s just a click away.

Of course for the UNIX operating system, 1971 was the beginning of time. It probably also marked the date when distance began to shrink at a visible rate.

Audiences for the little literary magazine, or Hugh Macleod’s cartoons, no longer need to be locals. They don’t have to live in Alpine, they can see it all through the network. It’s a gathering of tribes from across the globe, not tribes based on proximity or kinship, but on a common social object. We like Hugh’s sense of humor, or the taste of an editor who assembles a collection of short stories. We form a bond.

The highest value in the swirl of texts, images and sounds that roar by us minute by minute, second by second on the network is the good editor, the curator, the finely-tuned filter. Philip Roth, in an introduction to a collection of eastern European writing during the cold war, made an insightful comment: when nothing is allowed, everything is significant; when everything is allowed, nothing is significant. When we can see everything, where do we choose to rest our eyes?

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Day trading the information stream: Reading and Writing

Our filtering of information pouring off the network is starting to resemble the activity of a NASDAQ market maker. A market maker is a buyer and seller in a set of tickers on the electronic market. She’s always looking for pools of liquidity, ways to match up a buyer and sellers in whatever trading or crossing network that provides the acceptable transaction.

We are buyers and sellers of information. Techmeme, Delicious, Twitter, Google Reader, Technorati, The Gang and NewsGang, The NY Times, MSNBC, YouTube, iTunes, Facebook, MySpace, CNN, your favorite Blogs, Meg Fowler, Chris Brogan, KR8TR, Karoli, C-SPAN, The New Yorker, The Public Library, News.com, TechCrunch, Mahalo, Google News, Yahoo News, ESPN, Digg, TWIT, Your personal network, and Your friend’s networks are all pushing information into the marketplace. You choose what to buy. You also sell your own writing, photos, music, films, radio into the networks you have access to, the pools the provide the most liquidity.

Just like a Hedge Fund, or a portfolio manager, we try to put together the best portfolio of feeds, and pick the best stories and pieces out of the stream. The term we hear these days is “curator” or “editor.” But the sense of time is not of the long term investor, but rather of the day trader or the market maker.

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Against Perfection: Musicians no longer seem to know what music is

45 RPM Vinyl Record

For the record, music is not recorded music. A photograph of a painting is not a painting. A video of a play is not a play. Seeing a symphony in person is not the same as listening to a CD. In point of fact, the digital itself is a copy at it’s origin, it never inhabits time the same way as the performing arts. The digital replicates without effort, cost, talent or skill. Compare and contrast to performing music live, acting in a play, painting a new work.

Because a large industry has grown up around selling recordings, the recordings are often confused with the thing recorded. Of course there are recorded works that only exist as recordings and cannot actually be performed. Then there are records put out by musicians who can’t actually play their music live. But once these recordings exist in digital format, it’s nothing to make an extra copy or two. Or ten thousand or a million.

The great thing about music is that it’s different every time. That’s why we go to see plays and operas we’ve seen before, see bands we’ve seen before. It was the recording industry that taught consumers that there was only one version of a song, the one they were selling. And that was the moment where musicians were cut off from their music. Recordings create an artificial kind of perfection that stands outside of life. Life is imperfect, filled with mistakes, errors, moments of passion and virtuosity. Recordings can simulate the depth of life, but cannot capture the living.

As the cost of making and distributing recordings continues to approach zero, musicians need to understand what the digital means to them. It could mean you’ve got many versions of the same song: the unplugged version, the one you did in Austin, the desperate one you recorded in that little club in New York. The one where that great harmonica player sat in and changed the way you thought about the melody. It could mean multiple mixes, it could mean letting the fans create their own mixes. Or even computer-generated random mixes. Let a thousand flowers bloom and capture all the beautiful moments of imperfection in all their glory.

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Yahoo: The end is in the beginning

The word of a possible Yahoo + Murdoch deal is strange indeed. That merger would be the final transition of Yahoo from a technology company to a media company. The core values of Yahoo would undergo a fundamental transformation. In a sense, it would be a betrayal of the promise of the internet. One of the least interesting developments in the history of the internet has been the advent of regular old display advertising—and better targeting only makes it worse. Is the internet just another way to bundle up eyeballs and sell them to advertisers? That’s a one-way transaction in a medium built for multi-part two-way transactions.On the other hand, Microsoft and Yahoo is an explosive mixture that might actually result in something interesting. If Microsoft can accept a mixed operating system environment, which really means moving on to the web-based operating system, Yahoo could put its foot on the accelerator and really start to innovate.Everything comes to an end some time. Perhaps it’s Yahoo’s time. It’s the reason that personal data should be portable. Yahoo may end, but for the time being, you haven’t ended.

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