The bigger trend to this story is that information changed from something that was scarce to something that is now abundant.
What the German publishers don't seem to understand is that their once so valuable and scarce goods (information and news) are becoming less and less valuable. Looks like they are trying to defend a dying business model with legislation.
Herbert Simon said in the 70s: “A wealth of information creates a poverty of attention.” Google is a major dispenser of attention, and I think the German publishers are doing themselves a huge disservice by making it harder for Google to send attention to the publishers.
The big unresolved issue is: how can we finance good journalism in an era where the value of static information approximates zero very quickly? Maybe the answer is in moving away from static information to an information process as the product... Something that can't be copied easily.
Media companies are in the attention harvesting business NOT in the information delivery business. The marginal value of the information product is virtually zero. The marginal value of attention redirected to ads is some rate greater than zero - some rate greater than the cost of delivering that information product. So profit can be made. But the power is in delivering the attention, not the information.
What the German publishers don't seem to understand is that their once so valuable and scarce goods (information and news) are becoming less and less valuable. Looks like they are trying to defend a dying business model with legislation.
Herbert Simon said in the 70s: “A wealth of information creates a poverty of attention.” Google is a major dispenser of attention, and I think the German publishers are doing themselves a huge disservice by making it harder for Google to send attention to the publishers.
The big unresolved issue is: how can we finance good journalism in an era where the value of static information approximates zero very quickly? Maybe the answer is in moving away from static information to an information process as the product... Something that can't be copied easily.