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But when you think about it, of course Web domain hosting is a simple business model wrapped around the open source internet domain system. You also think about the other extreme, where companies like Goldman Sachs managed to extract a great deal of value from the economy, but as the financial crisis demonstrated, they did so while actually destroying value for the overall economy. Now that we understand their genome, we can figure out which patients it works for and use it only on those, and not use it on the others.


Often the value creation is only partly perceived by the people who created the content, and sometimes it's received by other people downstream. We are now on the cusp of being able to apply what we've learned there in so many other areas. That's just a small example of how to start studying this.



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Comments (5)

  1. Once again we have a story where free is actually a big part of economic value that is realized elsewhere in the economy.

  2. He was just saying how great it would be to be able to load in all possible data from the scientific corpus and be able to see that play out in their model. Join me in praying for RBG to have a speedy and healthy recovery - we are Christians, aren't we Bill?

  3. When people watch YouTube, or use Facebook or Twitter, or just surf the Web, they pay nothing for content. I'm jumping from my economic ruminations to these ruminations about open data in science, but I think the connection here is that what starts with open data and what appears to be uneconomic and free actually is the foundation for the next generation of businesses.

  4. There's really nothing more gross and ghoulish than people in the media pontificating on a public persons health and the hypothetical political ramifications of their death. It's been going on in science for a long time, but where it really caught fire as an economic engine is on the consumer internet, with companies like Google, or Facebook, or Amazon.

  5. You think about how much value Tim Berners-Lee created and how he didn't actually capture very much of it. O'Reilly AlphaTech Ventures is a leading early stage venture capital firm.

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