Technology Gives Life to The Long Tail
The miracle of The Long Tail is a fairly recent phenomenon. The book
Traditional economies benefit from large numbers of a few products. A clear example is a hit show on network television. Tens of millions of people tuning in to watch the exact same thing. This is the head of the consumption curve.
What the author discovered, to his surprise, is that most of the money is at the middle and end of the tail.
There may be a few blockbuster products that are consumed en masse. The surprising and wonderful thing is that the tail is actually bigger than the head.
Before computers, and specifically the Internet, the cost of selling a book or an album that only sells one copy per month was the big loser. However, new technology makes that one book or album a part of the big winner.
So what does all this mean? What is the net effect on the economy? The net effect is that new technologies such as databases and communications have a massive effect on our economy. Case in point: Amazon.com. These new technologies are powerful drivers that help customers get what they want and businesses make money. This allows our economy to grow and improve.
The Long Tail is a well documented and powerful driver of our economy. What new technology will have a similar effect in the near future?
Related posts:
- The Long Tail of Customization
- Accelerating Technology and the New Kindle
- Drivers of Accelerating Technology
- Life In The Infinite Abundance Economy
- Improving Life through Accelerating Technology
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is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
