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.

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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  • 1. The following slides were presented at theLondon Hacker News event on 27 June 2012. http://www.meetup.com/HNLondon/events/69942082/Out of context from the voiceover, some slideswon’t make a lot of sense, so I’ve added a few context speech bubbles.
  • 2. Paywall – but your taxespaid for it already!
  • 3. CONTEXT: People like Joshcannot get access to theresearch they need for lifethreatening diseases. Nor cantheir doctors, and now even theworld’s wealthiest library,Harvard, has urged faculty notto publish behind paywallsbecause they cannot affordsubscription 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 openaccess or ‘OA.’ The author paysa fee to make the paper free todownload. However, it still coststhousands of US $$ to publishOA today.
  • 5. CONTEXT: In response, I co-founded PeerJ, that has a lowfee of $99 for lifetimepublishing. I also started a newkid at the same time . Note: Idon’t recommend having a kidand a new startup at the sametime!
  • 6. Backed with $950K seed led by O’ReillyAlphaTech Ventures (OATV)Tim O’Reilly is on the boardLondon and San FranciscoRaised with just an idea – no product, norevenue, no customers This is what I’m here to talk about
  • 7. CONTEXT: I’d like to see more‘real’ problems being workedon by today’s tech talent, ratherthan more simple apps beingbuilt. That’s a tough roadthough, so the idea here was togive some pointers. Use a framework for disruption Or…a case study of changing academic publishing#HNLondon, 27 June 2012@jasonHoytjason@PeerJ.comCo-founder & CEO, PeerJ
  • 8. My background is science; formally for past17 yearsDid a PhD in Genetics – witnessed &suffered through woes of getting publishedYou don’t need a formal edu, but you doneed to know your shit & be passionate
  • 9. CONTEXT: Even if your talent issomething like being a Pythonprogramming language expert,you can still partner with anexpert in say ‘green-tech.’Today’s big problems needcrossover like that big time if weare 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 problemfor the big academic publishers, just as it didfor the music industry.Academics are pissed.-More than 12K are now boycotting the world’s largestacademic publisher, Elsevier. thecostofknowledge.com
  • 11. Framework for disruption- #2FIND A LONG-STANDING ORSOON-TO-BE PROBLEM
  • 12. Two biz models in academic publishingJournal subcriptions (300+ yrs old)Author pays per article (< 15 yrs old)Printing press technology of 1660still drives today’s business models.WTF?
  • 13. CONTEXT: In academicpublishing, something as simpleas a fresh looking webpagewould be a welcome changefrom the 1990’s look of today’sjournals. PeerJ is also adding athird biz model of lifetimemembership. Old markets canbe 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 OpenAccess drop (e.g. PeerJ’s pricing)then the ‘old guard’ withshareholders to answer towon’t be able to dramaticallylower costs. Competitiveadvantage. Similarly, there areold incumbents in energy,banking, etc that have much tolose. Look out for ‘backroom’politics that the incumbents canafford to play though. Framework for disruption- #4 FIND A PROBLEM WHERE INCUMBENTS HAVE MUCH TO LOSE IF THEY COPY YOU
  • 16. A/BTEST
  • 17. CONTEXT: I tested the appealfor PeerJ with just a simplelanding page back in Dec ‘11.Word got back to me thatlobbyists & others were alreadydiscussing who was behind theidea in D.C. That was my firstsignal that the idea was worthevaluating and pursuing further.Test your concepts early andcheaply. Framework for disruption- #5 A/B TEST YOUR IDEA AS EARLY AS POSSIBLE
  • 18. Join me! Pete MePete BinfieldCo-founder & Publisher, PeerJFriend for several years People who believe in PetePreviously ran world’s largestjournal – PLoS ONE
  • 19. CONTEXT: In the end, you don’tneed to convince everyone atthe 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