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Communications bubble?

18/02/2009
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Has it crossed anyone’s mind that the communications economy might be in danger of heading for a depression?

Think about how the myriads of bloggers are occupying Internet real estate of overestimated worth (IMHO – this blog included), borrowing time from themselves and their readers that perhaps they can ill afford.

While the costs of expanding the infrastructure only exert a slight real economy tax pressure, how jaded can an eyeball become before being rendered unresponsive? Virtual foreclosures are rare, but whole Internet neighbourhoods may soon be as empty as an abandoned mining town. How much is the house that geek built worth then?

The blog aggregators may repackage the content into AAA-rated feeds in which people feel obliged to invest the attention necessary to stay up to date. But bears prowl growling around those markets.

Perhaps twitterers and their followers are indulging in a form of CDS: swapping doubtful assets roughly woven from the minutiae of distant lives and online discoveries akin to a child picking up a leaf and showing it to their friend as something special. All leaves are special, but how many are really interesting? And how many do you want to hold on to?

The original banks of the communications economy, the newspapers, libraries and other established off-and online media outlets, no longer reap sufficient rewards from traditional content delivery. While the consumer risks becoming obese with so much fast, free information.

As we witness ever greater replication and repurposing, an exponential increase in redundancy between channels in the communications economy, are there not whole islands under threat of drowning in bankruptcy? Is there not a chance that many of the various currencies will lose their value?

What could possibly be a safe haven? Just a thought.


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