Saturday, July 23, 2011

Markets in Everything: Crowd-Funding Books

From The Economist:

"Unbound is a British effort to “crowd-fund” books. Visitors to its website can pledge money for a book that is only part-written. If enough money is raised, the author can afford to finish it—and the pledgers will get a copy.
 
Having launched in May, the firm announced its first success on July 18th. Terry Jones, of Monty Python fame, has secured the funds to finish a book of quirky stories. Handsome edited volumes and e-books will follow."

3 Comments:

At 7/24/2011 12:55 AM, OpenID Sprewell said...

These types of new business models are the future, particularly using software to organize crowd-funding and crowd-sourcing. Unfortunately, there's far too little experimentation right now, as most don't even bother trying anything and established businesses are too risk-averse, even new dot.coms like Amazon or Google or giants like Apple or Microsoft. However, the changes that will come out of these new online models are so fundamental, none of the current media businesses will survive it and I bet none of the current tech companies will either.

 
At 7/24/2011 11:02 AM, Blogger Amateur Economist said...

Learn Liberty should take note. I'd like to be able to buy a video from them and this might be one solution.

 
At 7/25/2011 4:33 PM, Blogger Mike said...

I'm not poo-pooing this idea, but did anyone else notice that the single success story is a very famous (and probably still wealthy) person that doesn't need to secure angel investors?
Will the desire to read unfinished work by no-names ever amount to anything?

 

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