Azeem Azhar

You'd go to two or three good sources.

So there's also this question that,

these machines are rather greedy and they're a bit dumb, frankly, about how they look at the content that's out there.

So you described the Swiss cheese model, the sense of filling in the gaps, but one of the things to make markets work, including information markets, is to put in a little bit of scarcity, a little bit of the price mechanism that says you have to pay more for this because it's better and this is free because it's slop.

So how do you think about that?

There are some models.

I mean, financial information is a very good example.

You can't get real-time data from the CBOE or the New York Stock Exchange without paying a lot.

You can't get Platts oil data.

He's done pretty well out of all of that.

I think the thing that matters for a market like that to work, though, is that the seller and the buyer need to make offers and they have to come and agree.

So that mechanism needs to exist for content creators to say, listen, I'm willing to sell this for a dollar or a cent.

And they have to probably do that in real time.

Now, we do have some infrastructure to do that.

I think, you know, real time bidding across

ad exchanges.

It's something that's running at trillions of transactions every minute.

We've seen these things in the financial markets as well, but it would be a whole new set of skills and capabilities for content companies, especially smaller ones.

You can imagine the New York Times hiring some economists and being able to do this, but you've talked about

the local newspaper in Park City, Utah, and presumably, you know, Bean Blossom, Indiana and everywhere else has got these businesses.