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Diginomics 101 v0.2
Become a Digital Expert
Digital (data?) is…
Diginomics 101 v0.2
Become a Digital Expert
Digital (data?) is different. Digital goods have different rules to "normal" (physical) goods
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[Day 5] Conclusion: using old models/rules is a recipe for failure. New models/rules for a new world.
Individual case: your business or ecosystem will fail (either not sustain or produce much less value (even "go bad")
Fall short: pricing for new copies means many people can't afford to access them. This limits the social value that can be generated by people using your good.
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Go bad: your firm begins to behave like an extractive monopolist to defend its proprietary business model.
Social case: inequality, instability, stagnation etc etc
Look at the massive wealth and power now concentrated in the hands of tech billionaires. A large proportion of this inequality is due to their ability to exploit the combination of IP law and costless copying.
Stagnation and lack of innovation. Limit freedom of enterprise. We're also hindering innovation. Monopolists have an interest in snuffing out competing innovations to protect their business models. It's common practice for large firms to buy-up small competitors and then close them down (i.e. not release their products) to eliminate challenges to their business.
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