This is today's daily post. It's going to be all about technology. To start, I want to focus in on a theme: the deflationary impact of the Internet. Since I have a lot of ideas here, I may make this into a thematic post later.
1 Big Thing: The Internet cuts makes it easier to cut out the middle man
In July I wrote about how data-only platforms make unbundling easier. Check out that post here. The upshot of unbundling is lower profit margins for incumbent businesses. And ultimately that's a good thing for the customer.
I mentioned music as a perfect example of how unbundling worked with iTunes and why that's hurt the music industry's profits. But there are other important Internet phenomenon that reduce margins: one is the direct sales model, sometimes known as peer-to-peer sales. Another...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.