A framework for Disruption
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Slides for the London Hacker News event on 27 June 2012. We discussed PeerJ, a new Open Access journal, and a framework for disrupting other industries.
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A framework for Disruption
- 1. The following slides were presented at the London Hacker News event on 27 June 2012. http://www.meetup.com/HNLondon/events/69942082/ Out of context from the voiceover, some slides won’t make a lot of sense, so I’ve added a few context speech bubbles.
- 2. Paywall – but your taxes paid for it already!
- 3. CONTEXT: People like Josh cannot get access to the research they need for life threatening diseases. Nor can their doctors, and now even the world’s wealthiest library, Harvard, has urged faculty not to publish behind paywalls because they cannot afford subscription fees. JOSH SOMMER CHORDOMA FOUNDATION
- 4. If we can set a goal to sequence the human genome for $99 -then why can’t we also publish that research for $99? CONTEXT: A solution is open access or ‘OA.’ The author pays a fee to make the paper free to download. However, it still costs thousands of US $$ to publish OA today.
- 5. CONTEXT: In response, I co- founded PeerJ, that has a low fee of $99 for lifetime publishing. I also started a new kid at the same time . Note: I don’t recommend having a kid and a new startup at the same time!
- 6. Backed with $950K seed led by O’Reilly AlphaTech Ventures (OATV) Tim O’Reilly is on the board London and San Francisco Raised with just an idea – no product, no revenue, no customers This is what I’m here to talk about
- 7. CONTEXT: I’d like to see more ‘real’ problems being worked on by today’s tech talent, rather than more simple apps being built. That’s a tough road though, so the idea here was to give some pointers. Use a framework for disruption Or…a case study of changing academic publishing #HNLondon, 27 June 2012 @jasonHoyt jason@PeerJ.com Co-founder & CEO, PeerJ
- 8. My background is science; formally for past 17 years Did a PhD in Genetics – witnessed & suffered through woes of getting published You don’t need a formal edu, but you do need to know your shit & be passionate
- 9. CONTEXT: Even if your talent is something like being a Python programming language expert, you can still partner with an expert in say ‘green-tech.’ Today’s big problems need crossover like that big time if we are going to solve them. Framework for disruption- #1 FIND A PROBLEM THAT MATCHES YOUR DOMAIN KNOWLEDGE
- 10. Academic Publishing is 300+ years-old. The Web has turned into a recent problem for the big academic publishers, just as it did for the music industry. Academics are pissed. -More than 12K are now boycotting the world’s largest academic publisher, Elsevier. thecostofknowledge.com
- 11. Framework for disruption- #2 FIND A LONG-STANDING OR SOON-TO-BE PROBLEM
- 12. Two biz models in academic publishing Journal subcriptions (300+ yrs old) Author pays per article (< 15 yrs old) Printing press technology of 1660 still drives today’s business models. WTF?
- 13. CONTEXT: In academic publishing, something as simple as a fresh looking webpage would be a welcome change from the 1990’s look of today’s journals. PeerJ is also adding a third biz model of lifetime membership. Old markets can be disrupted in such ways. Framework for disruption- #3 FIND A PROBLEM WHERE TECH OR NEW BIZ MODELS CAN BE INTRODUCED
- 14. TheCurrent Academic Pub Market $10 Billion Global annual revenue ~40% profit margin 150 Million Knowledge workers (the readers) 10 Million Authors (the customers) 1.5 Million Publications / Year (the product)
- 15. CONTEXT: If costs of Open Access drop (e.g. PeerJ’s pricing) then the ‘old guard’ with shareholders to answer to won’t be able to dramatically lower costs. Competitive advantage. Similarly, there are old incumbents in energy, banking, etc that have much to lose. Look out for ‘backroom’ politics that the incumbents can afford to play though. Framework for disruption- #4 FIND A PROBLEM WHERE INCUMBENTS HAVE MUCH TO LOSE IF THEY COPY YOU
- 16. A/B TEST
- 17. CONTEXT: I tested the appeal for PeerJ with just a simple landing page back in Dec ‘11. Word got back to me that lobbyists & others were already discussing who was behind the idea in D.C. That was my first signal that the idea was worth evaluating and pursuing further. Test your concepts early and cheaply. Framework for disruption- #5 A/B TEST YOUR IDEA AS EARLY AS POSSIBLE
- 18. Join me! Pete Me Pete Binfield Co-founder & Publisher, PeerJ Friend for several years People who believe in Pete Previously ran world’s largest journal – PLoS ONE
- 19. CONTEXT: In the end, you don’t need to convince everyone at the start. Choose your co- founder(s) wisely. Framework for disruption- #6 YOU ONLY NEED TO CONVINCE ONE OTHER PERSON – BUT MAKE THEM COUNT
- 20. Go Make It Happen @jasonHoyt @thePeerJ