(image) Yesterday I finished reading Larry Lessig’s updated 1999 classic, Code v2. I’m five years late to the game, as the book was updated in 2006 by Lessig and a group of fans and readers (I tried to read the original in 1999, but I found myself unable to finish it. Something to do with my hair being on fire for four years running…). In any event, no sooner had I read the final page yesterday when this story breaks:
In an odd coincidence, late last night I happened to share a glass of wine with a correspondent for the Economist who is soon to be reporting from Shanghai. Of course this story came up, and an interesting discussion ensued about the balance one must strike to cover business in a country like China. Essentially, it’s the same balance any Internet company must strike as it attempts to do business there: Try to enable conversation, while at the same time regulating that conversation to comply with the wishes of a mercurial regime.
Next week I travel to Washington DC. While I am meeting with a wide swath of policymakers, thinkers, and lobbyists, I don’t have a well-defined goal – I’m not trying to convince anyone of my opinion on any particular issue (though certainly I’m sure I’ll have some robust debates), nor am I trying to pull pungent quotes from political figures for my book. Rather I am hoping to steep in the culture of the place, make a number of new connections, and perhaps discover a bit more about how this unique institution called “the Federal Government” really works.
(image) The Signal San Francisco conference is less than a week away, so I thought I’d take the time to explain my reasoning for the theme, and offer a curtain raiser of sorts on the day-long program. (PS, I have ten, and only ten, half price tickets available. Hit this link, and use the code “luckyday.”)
The theme, a portion of which is the title of this post, is “The Yin and Yang of Audience, Platforms and the Independent Web.” I do get a few eyes a-rollin’ when I frame conference themes, but hey, I can only do what I know how to do. I actually think pretty hard about this stuff, and like to take the time to outline the ideas behind the program.
So here goes. As readers know, I’ve been thinking out loud a lot about the future of the Internet, and whether the rise of “walled gardens” like Facebook and Apple’s iOS (what I call AppWorld) are ultimately the future the web. My short answer is yes….and. By that I mean that the Internet, which began as an open, gatekeeper-free platform where anyone could hang a shingle, will ultimately interconnect with these walled gardens – there’s just too much value in what I call the “ecosystem approach” for the opposite to occur. I framed two major forces driving the Internet today: The independent web (sites unaffiliated with major platforms like Google or Facebook), and the dependent web (major platforms which create a valuable “logged in” experience that changes “depending” on who you are.).
I am in the midst of writing a post on the history of FM (update – here it is), and I thought it’d be fun to post the PDF linked to below. It’s a summary of musings from Searchblog circa 2006-7 on the topic of conversational media, which is much in the news again, thanks to Facebook. We created the document as an addendum to our first ever CM Summit conference, as a way of describing why we were launching the conference. (BTW, the Summit returns to San Francisco next week as Signal SF, check it out.)
It’s interesting to see the topics in the white paper come to life, including chestnuts like “Conversation Over Dictation,” “Platform Over Distribution,” “Engagement Over Consumption,” and “Iteration and Speed Over Perfection and Deliberation.”
A highlight of TED this year was watching my pal Rob Reid do a short talk on the math of those who claim piracy is killing the content business. It’s short, it’s really funny, and it’s a prequel of sorts for Rob’s wonderful new comic novel, which comes out in May. Very worth watching:
Quick, what’s LinkedIn? If you’re like me, the first thing that comes to mind is “a professional social network.” Perhaps “a place to get a job, or find someone to fill a job.” Or maybe “the place my professional resume lives.” And certainly “a very successful Internet IPO.”
But over the two years or so, LinkedIn has quietly built itself into a significant media business. It’s added a newsfeed, status updates, and “top stories today” features. Late last month, it added “following” as well. And I’ve begun to notice the LinkedIn share button popping up all over the web – it isn’t quite the attention engine that Twitter has become, but its power is rising. (Yep, I’ve got one on this site too).
All those media bells and whistles combine to create a robust advertising business, complete with a Facebook-like self service platform driven by your social graph. That business has been scaling right along with its core recruitment and jobs posting revenue, accounting for about a third of the company’s topline. Given that LinkedIn added more members last year than in the prior 6 – about 60 million, for a global total of 150 million, I predict it won’t be long before LinkedIn becomes a “must buy” for any marketer who targets professionals. And that’s a lot of marketers.
(image) Facebook claims the data we create inside Facebook is ours – that we own it. In fact, I confirmed this last week in an interview with Facebook VP David Fischer on stage at FM’s Signal P&G conference in Cincinnati. In the conversation, I asked Fischer if we owned our own data. He said yes.
Perhaps unfairly (I’m pretty sure Fischer is not in charge of data policy), I followed up my question with another: If we own our own data, can we therefore take it out of Facebook and give it to, say, Google, so Google can use it to personalize our search results?
Fischer pondered that question, realized its implications, and backtracked. He wasn’t sure about that, and it turns out, it’s more complicated to answer that question – as recent stories about European data requests have revealed.*
Last week I wrote a post about Neal Mohan, who will be joining us for this month’s Signal conference in San Francisco. Today I’m focusing on Adam Bain and his role as President, Global Revenue at Twitter.
I’ve known Adam for some time, since his days at Fox Interactive Media, where he built Fox’s advertising platform (initially as a product out of MySpace). He joined Twitter a year and a half ago, and since then, has overseen the development of its “promoted” suite of products. Just recently, Twitter has expanded its roll out of what CEO Dick Costolo calls its “atomic unit” of advertising, the Promoted Tweet, to its mobile base, a significant move mirrored by Facebook at nearly the same time. It’s also opened up a self-service portal to its ad machine, a crucial move that drove early adoption of search and Facebook advertising.
When you are in charge of revenue for a company valued at $8 billion, the heat is on – the estimated $140 million or so Twitter pulled in last year ain’t gonna cut it. The company needs to scale its advertising platform to Google and Facebook levels, in terms of efficiency, response, and return on marketing investment. That’s no easy feat. In fact, it’s only been done a few times – by Facebook, Google, and arguably Overture (before Yahoo’s purchase and subsequent deal with Microsoft).