In 2020, Harvard Business Publishing brought in $262 million in revenue, flat from the year prior. Though disappointing in isolation, that unglamorous performance looks much better when compared to the beatings many other media outlets suffered during the coronavirus lockdown. Over a five year period, revenue grew at a 3.8% CAGR.
But it’s also because newspapers were an oligopoly, and they lose that oligopoly online. Newspapers are, yes, a content business, but they were also a light manufacturing business, and it was the replacement of light manufacturing and trucking with bits that removed the barrier to entry and unbundled their attention.
-The most interesting feature of Bilibili—and the one most central to community—is bullet commentary. When you consume content on Bilibili, comments from fellow community members flash across your screen, time-stamped to when that user had that reaction. Only members of the community—those who passed that 100-question exam—can leave comments, ensur... See more
In other words, dominance in a market, not aggregate GMV across many markets, is the goal of any marketplace and ultimately what determines equity value.
While many responsibilities overlap with those of traditional organisations, the core difference (and value proposition) is that opportunities to contribute are open. Anybody can take the initiative and make proposals to create new working groups or change the way things are run.
Joy tends to involve some transcendence of self. It’s when the skin barrier between you and some other person or entity fades away and you feel fused together. Joy is present when mother and baby are gazing adoringly into each other’s eyes, when a hiker is overwhelmed by beauty in the woods and feels at one with nature, when a gaggle of friends are... See more