From IVP Wiki
- 1 Blueprinting the InfoValet System -- An Overview
- 1.1 (Extended version of five-minute PowerPoint/visuals)
- 1.2 What is Information Valet Project?
- 1.3 Challenge: How to sustain values, purposes of journalism?
- 1.4 News as a service not a product
- 1.5 Making the market for digital information -- HOW?
- 1.6 Making the market for digital information -- ADVERTISING
- 1.7 Making the market for digital information -- NEWS/CONTENT
- 1.8 Benefits to consumers/users
- 1.9 Benefits to other parties
- 1.10 How will it work?
- 1.11 Adoption strategy: Journalism Trust Association
- 1.12 InfoValet Service Corp. -- Convenor, integrator
- 1.13 Partners in demonstration for April 27
- 1.14 How financed?
- 1.15 Timeline to incubate, demo and prototype
- 1.16 Meeting goal
Blueprinting the InfoValet System -- An Overview
(Extended version of five-minute PowerPoint/visuals)
What is Information Valet Project?
- Research effort incubated at D.W. Reynolds Journalism Institute
- Bill Densmore, Jeff Vander Clute, Steve Mott, Martin Langveld
- Many other contributors of ideas (via "Blueprint" events)
Challenge: How to sustain values, purposes of journalism?
- Mass markets splintering
- Search advertising effective competitor
- Classifieds done better on the web
- What sustains journalism in that environment
News as a service not a product
- Helping user find access to info from anywhere
- Creating a conversation, community ... network
- Not just about the story; smaller, larger remix
- The news social network
- New concept: The "InfoValet" -- trusted advisor/broker
- But how to be rewarded
Making the market for digital information -- HOW?
- Consumer user establishes account with InfoValet
- Shares as much demographic, preference info as desired
- This information shared among multiple participating sites
- Records of activity logged, aggregated to InfoValet, purged
- Establishes "shared-value network" for commerce, service
Making the market for digital information -- ADVERTISING
- Rewards for activities, viewing ads, sponsored material
- Example: The Ford Explorer PDF download
- Advertising network based on interest not inference
- Higher CPMs for the news industry
- Consistent with Federal Trade Commission privacy guidlines
Making the market for digital information -- NEWS/CONTENT
- Shared-user network for news-oriented social interaction
- Subscription access to multiple websites (cable model)
- Access by time, or bundle
- Economic purchasing on a per-item basis (music, video, text)
- Enables "public radio model" too (Kachingle, others)
Benefits to consumers/users
- One account, one ID, one password, (one bill or reward)
- Personalized service over a network of sites
- Demographic privacy portable, trusted (no more crumbs everywhere)
- Rewards for sharing info (like the supermarket card)
- Access to "deep web," premium, personalized content
- Freedom of choice in picking InfoValets (unlike PayPal, etc.)
Benefits to other parties
- CONTENT PRODUCERS -- Free market for digital info
- Unbounded selling of content, subscription or per click
- Closer relationship with consumers
- Newspapers / magazines
- Music, video, entertainment
- Speciality publishers
- 'USER OWNERS' -- Share yet maintain ownership of user base
- Referral fees for sharing users
- Google, Yahoo, PayPal, Amazon
- Banks, affinity groups
- Other namespace companies (travel, sports, retail)
How will it work?
- InfoValet specifies a "pluggable framework" that allows multiple players to fulfill different roles and compete for business.
- APIs enable different applications to share data according to the framework specification.
- The architecture of the ecosystem is distributed as much as possible (instead of being centralized).
- Security is enhanced by decrypting user information only on the user's most-trusted service provider or the user's machine/device.
- The user can then control the release of his information to other services, depending on the degree to which he trusts those services.
Adoption strategy: Journalism Trust Association
- Started with Dec. 3-5 "Blueprint" to frame issues
- Unveil JTA / IVP vision at April 27 DC event
- Non-stock, non-profit JTA guides early years
- Non-competitive ownership, trusted control
- "Founding members" advise early decisions
- Broadly representative board gradually enlarged
- Controlling owner of InfoValet Service Corp.
InfoValet Service Corp. -- Convenor, integrator
- For profit LLC or L3C / controlled by JTA
- Convenes industry around specific system
- Makes/enforces rules for use of InfoValet logo/service
- Integrates, contracts with advertising, tech, financial-service pieces
- Any profits dividended to JTA and other stakeholders
- Possibly transaction fees, license fees
Partners in demonstration for April 27
- The Associated Press (AP Exchange database)
- Lee Entreprises (Quad City Times)
- Hearst Corp. (Albany Times-Union)
- World Co. Inc. (LJWorld.com -- tentative)
- WBUR-Boston (NPR affiliate -- tentative)
- RJI inclubated through Densmore RJI 2008-2009 fellowship
- JTA will give note to RJI/Mizzou, convertible to stock in IVSC
- Plan for self funding of IVSC
- Among startup funding options for IVSC:
- Foundations (if formed as L3C), as program-related investment
- Strategic investors (who may be licensed/contract partners)
- Debt financing
- Equity stakeholders (nonvoting?)
Timeline to incubate, demo and prototype
Goal: Visualization of exemplary functionality
- Assess current market for state of need, receptivity to solution, and optimal solution set--ongoing; wrapping up soon
- Develop business model to help newspapers understand how migration to social-network platform and re-invented buyer-seller relationship can shore up finances--ongoing; Final draft due April 1
- Vet initial array of technology component providers--beginning now
- Create demonstration of core functionality to help stakeholders visualize nuances--ongoing; final version due April 20
- Solicit new stakeholders to 'join cause' and identify sources of funding and participation for initial prototype -- April 27
- New business for news organizations
- New ecosystem for news aggregation, customization, sharing
- Connects news with social network
- Possibility of dividends to JTA to support journalism
- Critical Internet framework guided by journalists