With the introduction of Google’s ‘Fast Flip’, the debate over the validity of news aggregating service resurfaced in vitriolic name calling. This time, managing editor of the Wall Street Journal, Robert Thomson suggests that some of the news aggregating services available on internet are ‘parasites’ or ‘tapeworm’ (see below extract from the BBC news).
"There is a collective consciousness among content creators that they are bearing the costs and that others are reaping some of the revenues.”
"There is no doubt that certain websites are best described as parasites or tech tapeworms in the intestines of the internet"
Such denial of the changing business environment, fuelled by personalization, connectivity and systems thinking is not going to benefit the ‘traditional’ news companies. Have we not learnt the lessons from early days of the music industry when it was faced with the inevitable digital age? The news of Facebook’s success clearly highlights the changes in the patterns of consuming information. We, the users are all actively engage in the information distribution in our own personalized way that the emergence of such news aggregating services was inevitable. Instead of dismissing such services, the traditional news companies should embrace and adopt a business model that can exploit the changing market. Business needs to reread the history books on changing technology and its implications.