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In his “1,000 True Fans” essay, Kelly explains that he wasn’t as excited about this new economic model as others seemed to be. “The long tail is famously good news for two classes of people: a few lucky aggregators, such as Amazon and Netflix, and 6 billion consumers,” he writes. “But the long tail is a decidedly mixed blessing for creators.” If yo... See more

Alcohol producers are generally not allowed to sell directly to consumers, but rather must sell to wholesalers or distributors, who then sell to retailers, who then sell to consumers.

A difference, though, is that human signals often trickle to the rest of society, which weakens the power of the signal. Once a signal is adopted by the masses, the affluent abandon it.

Only 8% of students are more interested in online education, 77% are not.

The practical consequence of solving this problem is that Bitcoin gives us, for the first time, a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of ... See more

You can charge recurring revenue; after all, nobody wants to work with obsolete data. (This is harder in the early days, not because of lack of buyer appetite, but because your update cadence probably isn’t good enough.)