I often wondered if I should have been majoring in textbook writing instead of business. It seemed pretty darn lucrative.
Today, one of the oldest businesses in the land - textbooks - has been disrupted. No longer do you have to shell out $175 for a science text, it costs a fraction of it - and it is much better than the original. It's an interactive textbook.
- Nature Publishing Group, which publishes several highly regarded scientific journals and textbooks, was founded in England in 1869, eight years before electric lights illuminated the streets of London. Now, 140 years later, with the help of Harvard Classics scholar Vikram Savkar, the company is beginning to disrupt the traditional textbook model that it helped to create. This month at California State University, the company released Principles of Biology, an interactive, constantly updating biology textbook that retails for less than $50.
- We don't accept received wisdom. We always ask "What does the market need?" and at the same time "What do we believe that we're in a position to provide the market?"
Ten years ago Betfair asked themselves those two questions. The market needed a low takeout, interesting platform to bet on via the net. By developing their technology, they found themselves in a position to provide to that market and fill that need. The rest is history.
Does this mean for racing we can not come up with a disruptive technology of our own? Sure we can, in my opinion. But as an instructive first step, we have to stop 'accepting the received wisdom'. I think we can all agree: That's gotten us nowhere.
Notes: There is quite a dust up on HD.com about Pastor Stephen. He is out with a coffin bone after Saturday's break stride. Most saw the post parade, including several of us on twitter.
Dan over at throtrends has a great article up on racing demographics. Of note, Dan hosts a weekly racing chat about the sport on Twitter Tuesday at 9PM ET. Just search for #trbchat
This week: The $1M Canadian Trotting Classic. Next Thursday, Little Brown Jug.