Catching up on the News...

Doc Searl: The "new economy" wasn't about selling goods and services. It was about selling businesses — mostly to stockholders. "Entrepreneurs" sold stock to VCs, who sold it to evevybody else through the public stock markets. That was the system. And most of us in The Industry (as Hollywood also likes to call itself) bought into it. I can't even guess how many times I'd ask somebody "how's business?" and get a response like "Great. We just closed another round for $10 million."