The Oxford Centre for Entrepreneurship and Innovation » Traditional Media

The past 10 years: 2007

Afua — Fri, 16 Apr 2010 16:50:04 +0000

Over the next few months entrepreneurs, entrepreneurial organisations, investors, innovative business models, technologies, influential commentary, events and ideas representing key moments during the past 10 years [spanning the period of Silicon Valley Comes to Oxford's existence] shall be discussed, dissected and explored…

Procrastination ensured that I am only now recording my thoughts about ”The Cult of the Amateur: how today’s internet is killing our culture” but better late than never and coincidentally topical given one of the themes for this year’s ‘Silicon Valley Comes to Oxford’ – Schumpeter’s Creative Destruction. ‘Cult of the Amateur’ is a punchy 2007 book by journalistic commentator, Andrew Keen; it essentially represented the first bucket of cold water enthusiastically poured over the euphoria which once engulfed the world of on line social media and social networking (the recession represented the second bucket of ice cold water!)

The book was a welcome antidote to the fevered hype surrounding the very Silicon Valley invention – user generated content, it challenged the democratisation of the on line media platforms which had spurred the crowds to storm the palace gates. It criticized the unwashed masses – the ‘amateur’ musicians, journalists, literary authors and film makers, globally broadcasting their work using web technologies (to swamp the internet.)

‘…when ignorance meets egoism meets bad taste meets mob rule?’

Also explored is the web’s creative destruction of the advertising models supporting newspapers and magazines; lamenting the deceleration of the newspaper industry, Keen blames Craigslist and quotes Adam Smith. Regarding, the digital piracy-led annihilation of the music industry, Keen’s polemic or rant (depending on your perspective…) means that he forgets the giant steps of the 20th century’s music industry - the cultural revolutions of jazz, blues, soul, rock, heavy metal, punk, hip hop, house, techno - genres which challenged the middle-of-the-road anti-innovation record label bosses:

‘Say good-bye to today’s experts and cultural gatekeepers – our reporters, news anchors, editors, music companies, and Hollywood movie studios.’

Andrew rightly criticizes the unadulterated praise heaped on the ‘wisdom of crowds’ concept famously epitomised by Wikipedia, and in a later 2008 discussion at the Oxford Internet Institute he interestingly suggests that universities act as gatekeepers for on line encyclopaedic resources.

You are probably wondering about the relevance of this 2007 book in 2010 and here goes:

- Today, the AOL acquired-Bebo once the healthy posterchild of the UK web 2.0 landscape, optimistically purchased for $850M/£550 with post tax profits of £2.6M, is now due for a sell-off or closure after startling yoy financial losses of £1M and declines in traffic

- The News International acquired-Myspace is struggling against the tide. Its original CEO and founder duo are no longer with Myspace and the subsequently appointed CEO has moved on…meanwhile another Rupert Murdoch-owned media vehicle, Timesonline.com announced the introduction of paywalls for June 2010.

- Friends Reunited was subsequently sold for £25M after being purchased for £175M

- And Facebook is regularly embroiled in news stories around societal breakdown and crime

The good news is that the professional social network, LinkedIn is doing better than ever in the face of a job market downturn

The bad news is the overall absence of innovative and commercially workable business models beyond subscription paywalls for on line social media and social networks.

And, the newspaper and music industries are still in a state of flux – cheering thoughts.

2010 Silicon Valley Comes to Oxford

Afua — Fri, 16 Apr 2010 13:24:35 +0000

2010 marks the 10th anniversary of Silicon Valley Comes to Oxford

www.siliconvalleyoxford.com

Key Theme: 10 Years

Reflecting on the last 10 years, and looking forwards to the next 10 years of innovations in technology, business models, investing and the business environment, Silicon Valley Comes to Oxford 2010 shall explore the disruptive technologies and business innovations of the past 10 years, reflecting on the demise of old industries, old economic models and old perspectives.

Sub-theme 1: Schumpeter’s Creative Destruction

The advancement of the Internet is arguably the greatest computer science innovation. Its overwhelmingly pervasive power has led to the disruption of established knowledge and cultural industries, sectors which represent the core of our very existence in terms of recording, reporting, reflecting and questioning our society and its culture.

Sub-theme 2: Could Silicon Valley exist anywhere in the world?

The tenth anniversary provides an opportunity to ask whether Silicon Valley could evolve into a generic term or metaphor for an entrepreneurial cluster anywhere in the world. What is the secret of Silicon Valley? Why has Europe never managed to create an equivalent (note that Oxfordshire is recognised as one of the most successful entrepreneurial ecosystems in Europe.) At SVCO 08, investor, Saul Klein questioned whether the richness of European history, its architecture and long established institutions present an impediment. Contrast with Silicon Valley and Tel Aviv. How does national culture, history, geography and policies impact or fuel the formation of entrepreneurial clusters? Is the next Silicon Valley likely to be in Shanghai or the already burgeoning Hyderabad or Bangalore?

The growth of the corporate blog

Barbara — Fri, 16 Apr 2010 12:45:13 +0000

Blogs, Twitter feeds and even Facebook pages are increasingly featuring in the arsenal of PR strategies employed by large corporations and public institutions. This is not an idle choice: corporate blogs at both Google and Apple have at times, been the locus of intense media attention at times when new products have been announced or controversial decisions defended. Yet the use of such modes of communication raise peculiar challenges for companies willing to embrace new media, relating to the tensions between maintaining central control of information flows and the desire to react quickly when criticism arises in online networks or discussion groups. What do companies expect to gain from maintaining this sort of online presence and what are the implications of these trends for both the development of traditional PR strategy and business journalism? Why are so many firms embracing social media as part of their communication strategies? Is it about free PR and getting the message across or is it more about reacting to online criticism?

Parties, campaigns and representation: the political impact of blogs and social media

Barbara — Tue, 15 Sep 2009 16:44:39 +0000

The outcome of political careers and even campaigns is increasingly dependent on the successful mastery of new communication tools including social media. Many MPs and members of Congress are embracing the use of social networking tools to keep in touch with their constituents, whilst Facebook, YouTube and even Twitter have potentially changed the nature of election campaigns in reaching out directly to grass-roots supporters, with the recent US presidential campaign also showing how effective these tools might be in raising funds. At the same time, it is not clear whether these tools are likely to prove effective in engaging any voters except those who are already interested in politics, or whether their apparent ‘democratisation’ of traditional party structures is to be believed. Do we yet have any evidence to suggest that social media has genuinely altered the nature of election campaigning? Is there any evidence to suggest that traditional gate-keepers in the political communication process (political parties, press secretaries, political editors in mass media, etc.) are truely being bypassed? Or that traditional political institutions are being altered?

Making science public: data-sharing, dissemination and public engagement with science

Barbara — Tue, 15 Sep 2009 16:39:20 +0000

Journals and peer-reviewed publications are still the most widely used channels through which research is disseminated within the scientific community and to a broader audience. However, social media is increasingly challenging the supremacy of editors, reviewers and science communicators. Blogging about science has become a new way of engaging “the public” directly with researchers whilst researchers are increasingly using blogs within their own academic communities for peer-review purposes. Panellists will give their perspective on how social media has changed the nature of the scientific debate amongst scientists, and how it has impacted on engagement with the public understanding of science. So, if social media offers the opportunity of unmediated exchange between scientists and the public, is this the last nail in the coffin of science journalism? Do blogs have the potential to become a respected medium for academic exchange?

Social media, so what? Assessing the impact of blogs and social media

Barbara — Tue, 15 Sep 2009 16:33:02 +0000

Theorists such as Yochai Benkler have suggested that the accessibility and inherently social nature of Web 2.0 tools such as blogs, social networking and wikis mean that we might expect them to enhance our democratic freedoms through the opening of new channels for debate and collaboration. Academic research suggests that such new opportunities have not been equally taken up, and that in many areas, new social media are simply being used by old ‘elites’. At the same time, blogs and social media are having significant effect in enhancing accountability and transparency, particularly in repressive regimes like Burma and China. This session will ask whether we should be so quick to dismiss the socially egalitarian and politically democratic potential of social media or whether there might equally be more mundane but significant social impacts which have so far been ignored. Is there any evidence that the advent of social media have enhanced the potential for meaningful collaboration? Or for political deliberation? Or engagement across rather than within particular groups? Have they lived up to their democratic potential? What are the downsides of the “Twitter revolution”?

Breaking news: the changing relationship between blogs and mainstream media

Barbara — Tue, 15 Sep 2009 16:28:51 +0000

Among the traditional media, blogs and other contributions to citizen journalism have for a long time been regarded as posing a significant threat to ‘quality’ news reporting, whilst the global recession has shown that the threatened failure of high quality local and regional media outlets was not a groundless fear. Whilst some of the most successful social media sites are professional media productions such as CNN’s Twitter news feed and the Huffington Post, many critics of social media now fear that the collapse of traditional business models will see a real decline in the depth and quality of news reporting, particularly at the local level. On the other hand, blogs and social media are seen as potentially democratising the production of news, enabling fast, first-hand reporting often in areas where traditional media face political and other restrictions. In what ways can traditional media outlests ensure that the use of blogged or “tweeted” information is accurate and legal to publish? How can the originality and immediacy of “citizen journalism” be retained and incorporated into mainstream media? Does it need to be?