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00:00:10
Unidentified Speaker, -
HOUR. >> IT IS MY GREAT PLEASURE TO BE HERE WITH YOU THIS MORNING. I AM A HUGE FAN OF YOUR WORK AND OF THE MAGAZINE SO IT'S A TRUE PLEASURE. THAT SAID...
00:00:33
Unidentified Speaker, -
IT'S TECHNICALLY GOT TO BEGIN WITH H. >> I KNOW IT TOOK YOU 250 PAGES TO WRITE THE BOOK. >> BUT MY CHILDREN WHEN I TOLD -- THAT DAD'S WRITTEN A BOOK...
00:00:48
Unidentified Speaker, -
DIDN'T? DAD,
00:00:51
Unidentified Speaker, -
DUH, IT'S BITS. THEY'RE
00:00:54
Unidentified Speaker, -
FREE. AND WHEN I TELL MY PEERS, PEOPLE MY
00:00:58
Unidentified Speaker, -
AGE, YOU KNOW, THAT CHRIS ANDERSON HAS WRITTEN A BOOK ABOUT
00:01:01
Unidentified Speaker, -
HOW THINGS CAN BE FREE ON THE INTERNET, THEY'RE LIKE CHRIS, YOU DIDN'T. DON'T YOU KNOW THERE'S NOTHING AS A FREE LUNCH I THINK FREE IS THE MUST UNDERSTOOD...
00:02:39
Unidentified Speaker, -
RADIO GUY HERE THAT IT'S POSSIBLE FOR THINGS TO BE REALLY FREE. RADIO IS FREE TO AIR. TELEVISION IS FREE TO AIR. THE ENACT AN ADVERTISER PAYS FOR IT...
00:02:58
Unidentified Speaker, -
OF MONETARY AND MON NONMONETARY. AND WE GO OUT FOR LUNCH HE'S PAYING ME WITH HIS TIME AND ATTENTION AND REPUTATION AND HE'S GOING TO TELL ME OF ALL...
00:04:15
Unidentified Speaker, -
RAZORS BUT HE TOLD THEM AS
00:04:17
Unidentified Speaker, -
A DEEP DISCOUNT TO BANKS AND THE BANKS GAVE
00:04:20
Unidentified Speaker, -
THEM AWAY AS A SAVE AND SHAVE CAMPAIGN. SHAVE AND CAMPAIGN. BUT THE CONSEQUENCE WAS THE SAME THAT, YOU KNOW, YOU WERE HOOKED ON ONE THING WHICH IS...
00:07:23
Unidentified Speaker, -
SEARCH SEARCHS GETS BETTER -- IF ANYTHING OUT AND GET THE ACME SEARCH COMPANY I'M NOT GOING TO MAKE 12 CENTS. FREE WORKS IF YOU'RE NUMBER ONE, RIGHT....
00:07:57
Unidentified Speaker, -
EFFECTIVE. IF ALL THE TRAFFIC IS ON GOOGLE, THAT'S WHERE THE ADs IS GOING TO BE AND YOU'RE GOING TO RUN THE GUY WHO HAS THE MOST ADs. THE ADs WILL BE...
00:09:36
Unidentified Speaker, -
AND DISAPPEAR. REMEMBER
00:09:38
Unidentified Speaker, -
BEFORE FACEBOOK THERE WAS MYSPACE AND BEFORE MYSPACE THERE WAS FRIENDSTER AND SO ON. I THINK GOOGLE RIGHTLY BELIEVES THEIR MONOPOLY IF THEY WOULD USE...
00:10:35
Unidentified Speaker, -
LETTER TO HOBBYIESTS SAY YOU SHOULD PAY FOR SOFTWARE AND WE WON'T CONTINUE TO PAY FOR IT IF IT GET FOR FREE AND THEY INTELLECTUALLY COMPETING PEOPLE...
00:13:05
Unidentified Speaker, -
PRICES. >> YEAH. YEAH, PRICE SEEMS SO OBVIOUS TO US AND YET IT'S SO MYSTERIOUS. YOU KNOW, TALK ABOUT HOW STUPID WE ARE ABOUT PRICE. $2.99. WE'VE BEEN...
00:13:26
Unidentified Speaker, -
2. HOW DOES THAT HAPPEN? ADAM SMITH SPENT TWO YEARS SPINNING HIS WHEELS ABOUT PRICE. IS IT BASED ON THE INTRINSIC QUALITIES OF THE PRODUCT. EVENTUALLY...
00:13:42
Unidentified Speaker, -
TOOK US IS LONG TIME FOR US TO FIGURE IT OUT.
00:13:46
Unidentified Speaker, -
SO THE GOOD NEWS ABOUT PRICE IN ECONOMIC TERMS IS THAT IT'S SIGNALING. PRICE IS A CONSUMER SIGNAL THAT SAYS THIS IS WHAT I THINK IT WORTH AND THERE'S...
00:15:09
Unidentified Speaker, -
ONLINE, UNFORTUNATELY, WHERE
00:15:10
Unidentified Speaker, -
THE PRICE HAS BEEN SORT OF TAKEN OFF THE TABLE, YOU DON'T VALUE GOOGLE ANY LESS BECAUSE IT'S FREE. YOU VALUE IT BASED ON OTHER FACTORS. THE WAY WE...
00:16:18
Unidentified Speaker, -
A BIG TWITTER USER. IF THEY CHARGED ME, I WOULD STILL USE IT. >> WHY? THIS IS A TWITTER CONVERSATION WHICH I DIDN'T MEAN TO GET INTO IT. >> WHY DO I...
00:16:29
Unidentified Speaker, -
USED TO BLOG A LOT. IT'S EASIER. WE'RE FINDING THE MINIMUM PUBLISHING UNIT AND MAYBE THE NEXT SERVICE WILL BE 40 CHARACTERS. >> HOW ABOUT NO
00:16:42
Unidentified Speaker, -
CHARACTERS. HOW ABOUT YOU AND I GET A BUSINESS TOGETHER, NO CHARACTERS AND WE JUST SELL ADs AND SEE
00:16:46
Unidentified Speaker, -
HOW IT WORKS. >> IT'S OUR FACES. >> THOSE GOOGLE GUYS THINK THEY HAVE SOMETHING, RIGHT? YOU SAY SEVERAL TIMES IN THE BOOK A CERTAIN THING IS CLOSE ENOUGH...
00:17:02
Unidentified Speaker, -
FREE TO BE FREE. ONE ONE THOUSANDTH OF A PEN OR SOMETHING. AS YOU SAW IN
00:17:08
Unidentified Speaker, -
A REVIEW
00:17:09
Unidentified Speaker, -
IN THE NEW YORKER, HE MAKES THE EXAMPLE OF YOUTUBE. YOUTUBE AND GOOGLE AND HOW THEY'RE GIVING AWAY THIS BANDWIDTH AND THAT'S GREAT BUT WITH, YOU KNOW,...
00:17:47
Unidentified Speaker, -
WAS AT GOOGLE LAST WEEK. LET ME -- LET US COUNT THE ERRORS. FIRST OF ALL, NOBODY KNOWS HOW MUCH YOUTUBE -- YOUTUBE BY THE WAY IS A
00:17:56
Unidentified Speaker, -
SUBSIDIARY OF GOOGLE FOR THOSE WHO DON'T KNOW. BUT IT DOES LOSE MONEY BUT THERE'S SPECULATION BUT THE HUNDREDS OF BILLIONS OF DOLLARS. GOOGLE IS A...
00:20:58
Unidentified Speaker, -
BEING CLOSE TO ZERO. THEY NEVER GO ENTIRELY TO ZERO BUT THEY GET CLOSE TO ZERO BUT YOU CAN IGNORE THEM. >> CLOSE ENOUGH TO ZERO MARGINAL COSTS HOW DOES...
00:21:12
Unidentified Speaker, -
AS FREE IN THIS ECONOMY? >> IT'S FREE TO THE CONSUMER IN THAT YOU
00:21:17
Unidentified Speaker, -
CHOOSE NOT TO CHARGE. SO FOR THOSE -- MARGINAL COSTS, JUST A LITTLE ECON 101. COSTS ARE FIXED COSTS AND MARGINAL COSTS. THE
00:21:29
Unidentified Speaker, -
ORIGINAL MODEL WAS YOUR BUSINESS, SIR,
00:21:36
Unidentified Speaker, -
RADIO. WHEN YOU SET UP A BROADCAST TOWER IN THE 1920s -- YOU SET UP A TOWER AND YOU PUT UP A SIGNAL AND UNLIKE ALL PREVIOUS FORMS OF MEDIA WHERE EVERY...
00:23:10
Unidentified Speaker, -
A NEW MEDIUM AND THIS HAS THE ADVANTAGE
00:23:13
Unidentified Speaker, -
OF REACHING EVERYBODY AT THE SAME TIME AND BE NARROW. IT CAN BE MASS
00:23:16
Unidentified Speaker, -
AND NICHE AT THE SAME TIME. THAT'S THE UNPRECEDENTED THING ABOUT THE INTERNET IS THAT IT'S SCALE AGNOSTIC. WHAT THAT REQUIRES YOU TO DO IS USE FREE...
00:24:17
Unidentified Speaker, -
IT. EXPLAIN HOW THAT FACTORS INTO THIS BOOK. >> SO SCARCITY IS A GOOD THING IF YOU HAPPEN TO OWN THE SCARCE COMMODITY. YOU KNOW AS GOLD MINERS KNOW...
00:24:41
Unidentified Speaker, -
NEWS. IF YOU NEEDED TO GET THE NEWS IN YOUR TOWN, THE NEWSPAPER, YOU KNOW, WAS THE ONLY WAY TO DO IT. AND SO THEY HAD THIS MONOPOLY ON CONSUMER TENSION...
00:26:30
Unidentified Speaker, -
00:26:32
Unidentified Speaker, -
MAMMALS ARE UNIQUE BECAUSE WE HAVE FEW OFFSPRING AND WE TREASURE THEM. >> WE TREASURE THEM MOST OF THE TIME. >> I'M TRYING TO ENSURE THAT THEY REACH...
00:26:58
Unidentified Speaker, -
THE WALL, BY THROWING A LOT OF CRAP AT YOUTUBE EVERY VIDEO
00:27:01
Unidentified Speaker, -
CAN BE MADE WILL BE MADE. ANY VIDEOGRAPHER WHO CAN MAKE A VIDEO AND WE MAY DISCOVER THAT THE FUTURE OF TELEVISION IS
00:27:08
Unidentified Speaker, -
NOT RAYMOND BUT INSTEAD OF LONELY GIRL 15 OR SOLDERING VIDEOS OR ALL THE ABOVE. >> OR WE WATCH SUSAN BOIL SING "I DREAM A DREAMED" 2 MILLION TIMES. >>...
00:27:35
Unidentified Speaker, -
YOU CAME HOME FROM SCHOOL THERE WAS FOUR CHANNELS AND ONE OF
00:27:40
Unidentified Speaker, -
THE SHOWS WAS GILLIGANS
00:27:42
Unidentified Speaker, -
ISLAND. >> I HAD MCHALE'S NAVY. >>
00:27:46
Unidentified Speaker, -
I WATCHED GILLIGAN'S ISLAND IF YOU WATCHED THE NIELSEN STATISTICS OF 1977, IT TURNS OUT 14-YEAR-OLD BOYS LOVE GILLIGAN'S ISLAND. IT WAS THE NUMBER...
00:28:05
Unidentified Speaker, -
SHOW. WE WANT TO WATCH TELEVISION. SOME OF US WANTED
00:28:08
Unidentified Speaker, -
TO WATCH GILLIGAN'S ISLAND BUT HAD WE BEEN GIVEN THE INTERNET MAYBE WE WOULDN'T HAVE WATCHED GILLIGAN'S ISLAND. IN THE BOOK I TELL THE STORY OF --...
00:28:45
Unidentified Speaker, -
YOU CARE TO KNOW ABOUT OUR KIDS. >>
00:28:47
Unidentified Speaker, -
YOU COULD HAVE TWO HOURS OF "STAR WARS." YOU CAN WATCH "STAR WARS" AS
00:28:51
Unidentified Speaker, -
GEORGE LUCAS ONLY DREAMED IT, YOU KNOW, UPSCALING DVD ON THE PROJECTOR, SURROUND SOUND WE'RE GOING TO MAKE POPCORN, ANY ONE OF THE SIX OR YOU CAN GO ON...
00:29:04
Unidentified Speaker, -
ACTION, ANIMATIONS MADE BY 7 YEARS OLD WITH LEGO FIGURES
00:29:08
Unidentified Speaker, -
AND THEY'RE LIKE YOUTUBE. THEY HAD NO INTEREST IN "STAR WARS" AS GEORGE LUCAS IMAGINED IT. WHAT THEY WANTED TO WATCH WHAT YOU AND I WOULD CONSIDER...
00:29:44
Unidentified Speaker, -
IT. NO COMMITTEE, NO BOARD ROOM, NO TEAM EVER REALIZED THAT THE PERFECT TELEVISION FOR 7 YEARS OLD WAS TELEVISION MADE BY OTHER 7 YEARS OLD. >> AND...
00:30:15
Unidentified Speaker, -
OR 9:30. >> 9:30. >> THINK OF YOUR QUESTIONS AND WE'LL BRING THE MICROPHONE
00:30:21
Unidentified Speaker, -
OVER. SINCE YOU BROUGHT IT UP A MOMENT AGO, I HAVE TO ASK YOU ABOUT THE MEDIA MODEL OF FREE THESE DAYS AND YOU HAVE -- I SAW YOU IN A WEB VIDEO AND YOU...
00:30:31
Unidentified Speaker, -
ABOUT IT ALL THE TIME. NEWSPAPERS, HOW DO YOU KEEP NEWSPAPERS IN THE ECONOMY
00:30:37
Unidentified Speaker, -
WHEN THEY THEMSELVES ARE GIVING AWAY THEIR PRODUCT FOR
00:30:39
Unidentified Speaker, -
FREE AND NOW SAYING, WAIT, WE CAN'T MAKE ANY MONEY? >> YEAH, THIS IS PART OF THE META-BANE OF MY EXISTENCE WHICH IS PRINT DEAD WHICH PEOPLE LOVE ASKING...
00:31:06
Unidentified Speaker, -
PARTICULAR. YOU KNOW, WHAT WE'RE DISCOVERING IS THAT, YOU KNOW, THERE'S TWO PROBLEMS WITH NEWSPAPERS. THE NEWS AND THE PAPER. RIGHT? SO THE FIRST PROBLEM...
00:31:22
Unidentified Speaker, -
ANYMORE. WHEN YOU LOOK AT WHAT PEOPLE
00:31:23
Unidentified Speaker, -
ARE CONSUMING IN TERMS OF INFORMATION, A LOT OF IT IS NEWS IS CREATED BY PROFESSIONAL JOURNALISTS AND SOME CREATED BY AMATEURS. THE NEWS MY DAUGHTER...
00:33:46
Unidentified Speaker, -
FINE. THEY WILL FIGURE IT OUT. MAYBE THEY'LL BE SMALLER
00:33:48
Unidentified Speaker, -
BUT WHAT THEY DO STILL HAS LALL MAYBE THEY'LL CHARGE FOR THE WEATHER iPHONE APP OR CHARGE FOR CONTENT AND INVENT A FORM OF ADVERTISING -- THEY'LL FIGURE...
00:36:07
Unidentified Speaker, -
SHOULD. I BELIEVE YOU SHOULD CITE WIKIPEDIA AND I DO CITE IT IN THE BOOK, BUT IN THE BOOK INDUSTRY, THERE'S A LOT OF DEBATE ABOUT HOW TO
00:36:17
Unidentified Speaker, -
CITE WIKIPEDIA AND THEY ARE UNCOMFORTABLE -- UNLIKE CITING WIKIPEDIA WHICH IS
00:36:25
Unidentified Speaker, -
STATUS THEY CHANGE IT ALL THE
00:36:29
Unidentified Speaker, -
TIME THEY WANT THE TIME STAMP ON IT. YOU KNOW READ ON JULY 8th, 2008. I RAILED AGAINST IT THIS IS CRAZY WHAT HAPPENED -- WHAT HAVE YOU BEEN DOING FOR...
00:38:35
Unidentified Speaker, -
SOURCES AND READ THOSE AS WELL? AND IF THEY SAID ABSOLUTELY. WIKIPEDIA WAS THE BEGINNING OF MY -- SO THERE'S TWO REASONS TO CITE WIKIPEDIA ONE IT'S AN...
00:38:52
Unidentified Speaker, -
WIKIPEDIA ENTRY IS USEFUL. AND PROVE TO ME YOU CLICKED ON THOSE LINKS AT THE BOTTOM AND READ THE ORIGINAL MATERIAL. >> HOW WOULD YOU ASSESS THE ...
00:39:22
Unidentified Speaker, -
MYSPACE. YOU KNOW, MYSPACE -- YOU KNOW, IF YOU LOOK AT MYSPACE YOU CAN SEE YOUR EYES OR MY EYES IT LOOKS TERRIBLE. THERE ARE NO UGLIER PAGES, ASIDE...
00:39:38
Unidentified Speaker, -
CRAIGSLIST IS NO UGLIER PAGES. AND THAT'S WHAT PEOPLE WANTED. YOU COULD ARGUE THAT FACEBOOK BY HAVING AUTHENTICATION AS, YOU KNOW, ORIGINALLY STARTING...
00:41:38
Unidentified Speaker, -
WE DO OPEN SOURCE HARDWARE, NOT OPEN SOURCE
00:41:41
Unidentified Speaker, -
SOFTWARE, OPEN SOURCE HARDWARE. >> DO YOU PUT THE BLUEPRINTS ONLINE? >> THE SCHEMATICS, THE CIRCUIT BOARD WE PUT IT
00:41:51
Unidentified Speaker, -
ALL
00:41:52
Unidentified Speaker, -
ONLINE. OPEN SOURCE HARDWARE -- THIS WILL TERRIFY YOU, WE DO OPEN SOURCE DRONES UNMANNED AERIAL VEHICLES, PREDATORS, RIGHT. LITTLE PREDATORS BUT THEY'RE...
00:42:05
Unidentified Speaker, -
DARKEN THE
00:42:08
Unidentified Speaker, -
SKIES. YOU KNOW, WE'RE COMPETING WITH THE MILITARY INDUSTRIAL COMPLEX BY GIVING AWAY STUFF TO ANYBODY. >> HOW IS THAT GOING? >> IT'S GOING GREAT. THE...
00:42:24
Unidentified Speaker, -
AWAY OUR STUFF. WE GIVE AWAY ALL OUR INTELLECTUAL
00:42:28
Unidentified Speaker, -
PROPERTY AND IN RETURN, PEOPLE MAKE IT BETTER. THIS IS CLASSIC OPEN SOURCE MODELS, RIGHT? WITH MANY -- WITH
00:42:35
Unidentified Speaker, -
MANY EYES ALL
00:42:36
Unidentified Speaker, -
BUGS ARE SHALLOW. I'LL GIVE YOU AN EXAMPLE. THE OTHER DAY WE HAD SOME OF OUR CODE HAD THIS BUG -- WE HAD A BUG IN OUR DRONE CODE, THINK ABOUT THAT...
00:43:40
Unidentified Speaker, -
A COMMUNITY BY OPENING THE
00:43:42
Unidentified Speaker, -
QUO AND BUILDING A COMMUNITY AROUND THIS OPEN CODE, PEOPLE FEEL THEY UNDERSTAND US. THEY FEEL THEY WANT TO SUPPORT US. THEY TRUST, YOU KNOW, THAT THE...
00:44:28
Unidentified Speaker, -
THEY'LL
00:44:30
Unidentified Speaker, -
BE ABLE TO WATCH IT SOMEWHERE ELSE EVENTUALLY? >> A LOT OF UNIVERSITIES ARE -- SO MIT HAS OPEN COURSE WHERE THEIR ENTIRE CURRICULUM IS ONLINE. HARVARD...
00:44:54
Unidentified Speaker, -
KNOW, THE YOU SIT, WE TALK SORT OF THING BUT IT'S RATHER ABOUT THE INTERACTIVE, YOU KNOW, COMMUNICATIONS -- IT'S THE COLLABORATIONS WITH THE OTHER...
00:45:42
Unidentified Speaker, -
EXPERT. HE MADE A HELICOPTER WITH OUR EQUIPMENT. SO I STARTED TALKING TO HIM AND HE AGREED TO DO A PROJECT WITH
00:45:49
Unidentified Speaker, -
ME AND WE STARTED WORKING TOGETHER AND WE SET THIS COMPANY UP TOGETHER. I'D LIKE TO KNOW MORE ABOUT YOU. AND SO HE TOLD ME HE WAS A 19-YEAR-OLD HIGH...
00:47:08
Unidentified Speaker, -
UNDERSTAND THE QUESTION.
00:47:09
Unidentified Speaker, -
PERSONAL PRIVATE MARKET IN WHAT WAY? >> FACEBOOK IS VERY POPULAR AND YOUTUBE AND SO WHAT ELSE WOULD YOU SEE --
00:47:15
Unidentified Speaker, -
AND TWITTER, OF COURSE, IS VERY POPULAR AND WHAT ELSE DO YOU SEE LIKE THE NEXT THING? >> I HAVE NO IDEA. EVERYONE ALWAYS ASKS ME WHAT'S THE NEXT THING....
00:47:28
Unidentified Speaker, -
THING. MY CRYSTAL BALL IS AS BAD
00:47:32
Unidentified Speaker, -
AS EVERYBODY ELSE'S. WE NEVER ATTEMPT TO PREDICT THINGS. WHAT WE ATTEMPT TO FIND IS WEAK SIGNALS. SO I THINK IT WAS WILLIAM GIBSON THE SCIENCE...
00:47:40
Unidentified Speaker, -
WRITER SAID THE FUTURE IS HERE BUT IT'S UNEVENLY DISTRIBUTED. THE NEXT THING IS ALREADY BIG SOMEWHERE. IT MIGHT BE BIG IN KOREA OR CHINA OR IT MIGHT...
00:48:21
Unidentified Speaker, -
PARADOX IN
00:48:25
Unidentified Speaker, -
BEBEHAVIORIAL -- BEHAVIORAL SCIENCE
00:48:30
Unidentified Speaker, -
THE HAPPIER WE ARE AND HOW DOES THIS FIT IN THE MODEL THAT WE'RE CONTINUING TO HAVE CONSUMERISM? >> WE ONLY TALKED ABOUT THE ADVERTISING FORM OF FREE...
00:49:00
Unidentified Speaker, -
OF MARKETING BECAUSE WHEN YOU CONVERT TO A PAID USER YOU'RE DOING SO NOT BECAUSE YOU WERE SUCKERD WITH ADVERTISING BUT YOU'RE HAPPY TO PAY. THAT DOES...
00:51:09
Unidentified Speaker, -
TALE WAS AN EXTENSION OF THE GILLIGAN'S ISLAND. WE
00:51:15
Unidentified Speaker, -
THOUGHT WE WANTED BLOCKBUSTER'S TOP
00:51:21
Unidentified Speaker, -
20 AND THAT'S
00:51:22
Unidentified Speaker, -
ALL WE WERE OFFERED AND IT WAS ALL DIFFERENT AND IT WAS THE RECOGNITION OF THE DIVERSITY AND VARIETY THAT WAS LATENT IN OUR CULTURE ALL ALONG BUT...
00:52:35
Unidentified Speaker, -
AND MY EXPERIENCE AS A HARDWARE COMPANY BUILT ON SOFTWARE GROUNDS, THERE'S A MAKE MAGAZINE, THERE'S A DIY --
00:52:45
Unidentified Speaker, -
A COTTAGE INDUSTRY GROWING UP AROUND SOPHISTICATED ELECTRONICS TODAY BECAUSE MANUFACTURING TECHNOLOGY IS NOW AS DEMOCRATIZED IS ATOMS OR NEW BITS AND...
00:53:37
Unidentified Speaker, -
WIRED.COM. (music) >>
00:53:46
Unidentified Speaker, -
THIS SUMMER BOOK TV IS ASKING, WHAT ARE YOU READING? >> HI, I'M GOVERNOR

NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.

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