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Revision as of 02:15, 17 March 2009 by 216.106.40.43 (talk) (Making the market for digital information -- HOW?)

The InfoValet Project -- Overview

Challenge: How to sustain values, purposes of journalism?

  • Mass markets splintering
  • Search advertising effective competitor
  • Classifieds have 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 may be released by the user to 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
    • Newspapers / magazines
    • Music, video, entertainment
    • Speciality publishers
  • 'USER OWNERS' -- Share yet maintain ownership of user base
    • Newspapers/magazines
    • Google, Yahoo, PayPal, Amazon
    • Banks, affinity groups
    • Other namespace companies (travel, sports, retail)

Adoption strategy: Journalism Trust Association

  • Started with Dec. 3-5 "Blueprint" to frame issues
  • 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

How financed?

  • 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?)

Meeting goal

  • 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

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.