It would not be fair to say that PC Forum had no representatives from the media industry. Not surprisingly, they both seemed overwhelmingly convinced that this group of high-tech leaders was several sandwiches short of a picnic when it came to understanding the underlying aspects of the media world. We are quite sympathetic to this attitude. However, while we recognize the potential for media naivet , we also believe that the media world may underestimate the influence technology may have on that world. For instance, consider that the economics of running a new media Web site are much more like those of a software company than those of a traditional publisher.
Variable costs are near zero, and as a result, market share means everything.
Media leaders also lack an appreciation for the concepts of technological lock- in and platform leverage. In the technology world, the best product does not always win, and the same may hold true for new media. Commodity information includes general information such as stock prices, sports scores, and news stories. Editorial information includes those sites we look to as definitive sources on particular genres, topics, or products. Lastly, hits represent new media s attempt to recreate the popularity of television shows.