For all the talk about social media and the Real-time web, very few ventures have made a dime from the services they provide. Raw real-time streams by definition offer no immediate curation – and if they do, it’s you who does the curating. Paying yourself isn’t a business model. So where’s the money? Ironically, Twitter helped to reveal a simple map:
- Data is infinite.
- Information is scarce.
- Wisdom is rare.
There’s no money in #1 or #3. Nobody pays for freely shared data and wisdom is selfless.
#2 is your only chance. Invest your efforts there.
Money is information, information is money. Both are hard to come by unless you’re lucky – and good luck, like wisdom, is rare.