Fixing the old and the new
Sunday, July 20th, 2008Paul Graham has published a broad list of entrepreneurial ideas that YCombinator is interested in investing in. It’s a very interesting list for not only does it target the often-cited broken models (e.g. traditional media news, DRM-protected digital media, shopping guides, etc), but also many of the first wave of “new” solutions, such as EBay, Craigslist, Wikipedia, photo-sharing sites, and other applications that are often regarded as web-era success stories.
Pointing out that the traditional news media model is broken is trite now, but even so, I thought this was a good summary of the situation:
“As Marc Andreessen points out, newspapers are in trouble. The problem is not merely that they’ve been slow to adapt to the web. It’s more serious than that: their problems are due to deep structural flaws that are exposed now that they have competitors. When the only sources of news were the wire services and a few big papers, it was enough to keep writing stories about how the president met with someone and they each said conventional things written in advance by their staffs. Readers were never that interested, but they were willing to consider this news when there were no alternatives.”