Rating: 
Summary: Read before you hire McKinsey
Review: The authors have identified that the issues of personalization and ownership of data are going to be important. They point out that it is inefficient for me to be able to get book recommendations that are based solely on my purchase history with Amazon, instead of incorporating my purchase history with other book sellers or my purchase of other products. As a result of this inefficiency (among others), they argue that "consumers will challenge marketers for control of their information." Having astutely diagnosed the problems with narrow corporate ownership of consumer data, the authors fail in their proposal for a solution. What they visualize is a broad corporate owner of consumer data--an "infomediary." They view this is an exciting business opportunity. This infomediary will combine ownership of consumer data with functionality that consumers want, such as the ability to supply recommendations. They argue that there will be huge economies of scale in this business, justifying a business plan where you lose lots of money to acquire customers and then eventually make it back. Instead, I believe that the business opportunity will be much duller. The repository that stores my preferences and purchase history will be something akin to a web-based service to back up my hard disk drive. That is, the data will sit there in case I need it. Meanwhile, when some other company offers me a service (such as product recommendations) based on my data, I will send the service provider a key that will enable them to extract what they need from my data repository. Suppose that I am correct that the architecture of infomediation will involve a split, with some firms offering data storage and other firms offering functionality (product recommendations). In that case, you will not see the enormous economies of scale. If you lose money in one of those businesses to start with, you will keep losing money. My experience with McKinsey is that whatever the question, their answer always is "lose money now to gain market share, and gain it back later." In that sense, I believe reading this book will give you a good idea of what to expect from McKinsey.
Rating: 
Summary: Well done book on the marginal value of information
Review: The ecommerce "correction" of early 2000 forces us to re-examine the true economic value of the Internet. Growth alone can't sustain real value. Net Worth has a different approach. The authors look at the margins in transactions and seeing how information can capitalize on these margins by making transactions more efficient. This, they argue, has value. Although the book was written in the heyday of the Internet, when a bright idea was a license to print money, I find the book to be even more valuable today, as we start to look at where we can mine long-term value from Internet approaches.
Rating:
Summary: For devotees of Internet market-hype ...
Review: The Hagel et al. argument hasn't improved. I've offered more than 1 star *only* because some people actually want to read unbridled enthusiasm, and want to believe, irrespective of the argument's merits. The first book had the saving grace that the authors had at least *noticed* that the first few attempts at consumer Internet commerce had been duds, and had even identified one of the key reasons why. But Hagel and his new co-author persist with the contention that e-consumers can be attacked with the same gusto, and the same broadcast-originated, born-to-consume philosophy that has been costing investors a great deal of money, and that will not achieve the breakthrough.
Rating:
Summary: HOW WILL E-COMMERCE AFFECT THE COLLECTION OF CONSUMER DATA?
Review: The idea that infomediaries will develop, and in fact are a necessary outcome of e-commerce, assumes that consumers are so frightened by the ease at which businesses of all kinds can get so much personal information on them that they will require an infomediary. This strikes me a little like "big brother is watching you". The case that Hagel and Singer make is that a) consumers will be paid by vendors to get this information, and that only what consumers desire to have passed on will be shared and b) that vendors will regard infomediary information as the only channel for the highest quality consumer data. It is an interesting idea and the thought process is intriguing. However I am left feeling uncomfortable since the irresistible forces today are to do without the middleman and for customers to work directly with suppliers for more useful sharing of information. The outsourcing trend does fit their model, if done for increased efficiency rather than cost reduction. If a vendor can find an infomediary that collects the specific customer information on current and future needs of their customers, they can outsource gathering customer data. Vendors will have to face up to the Tradition Stall of wanting to keep strategic and core information in house. Consumers will have to face the Disbelief Stall that their information is well guarded. Vendors will also have a Disbelief Stall that if a competitor has access to the same information, competitive advantage will disappear. And everyone will face The Tradition Stall, wanting to continue doing business as usual. The greatest benefit of NET WORTH is that it startles us into thinking about a different model, and that is the beginning of adapting to change. I also recommend that you read THE 2,000 PERCENT SOLUTION to understand the stalls that we all face and that keep us from making progress, and a process to generate tomorrow's solutions today. Maybe infomediaries will be one of them.
Rating:
Summary: A Must Read For All Interested In E-Commerce!
Review: The Internet is about information and connecting people together. So, it is inevitable that when these two fundamental facets of the Internet collide in the context of commerce new and exciting business models will emerge. The consumer infomediary is one such model and its development, from planning to execution, is beautifully and comprehensively addressed by Mr. Hagel in "Net Worth." As with his last book ("Net Gain"), Mr. Hagel shows that he has thought through not just the major issues, but many of the subtleties that lie in wait for the aspiring infomediary. His insight on the topic is especially startling to me, an entrepreneur, who has spent the last 2+ years working through issues of building an infomediary service and has had to deal with, first hand, many of the issues Mr. Hagel identifies and works through in this book. "Net Worth" is a testament to Mr. Hagel's vision and is a must read for anyone interested in e-commerce and the emerging models that will shape its future. For my part, I have made it required reading for my entire company, including our VCs and future potential investors.
Rating:
Summary: The new economy
Review: This book describes a model for what will soon equal the recent clamor over e-commerce. To have people offering goods and services compete for your business will make merchants more responsive to customers' needs. It will truly be a buyers market. imandi.com already has launched this model, seemingly with some success.
Rating: 
Summary: For Infomediaries only
Review: This book is essentially a very well thought out business plan for building an infomediary corporation -- which the authors figure will take $200 million. If you are interested in doing this then up the stars to 4. If you are not, and I'm one of them (the book was a suggested read) then I strongly urge you to skip this book. There are more interesting Internet books out there.
Rating:
Summary: Thoughtful, provocative, stimulating. Directly applicable!
Review: This book takes the reader down a road few have traveled. (and from the looks of these reviews few will go) These authors have taken a macro-economic approace to customer service utilizing the e-tools of the present and the future. Their summaries of current marketing tactics, and vendor relationships is well done. The review of high friction businesses that would welcome infomediation is also extremely important to on-line marketers. The business model assumptions are made only by those who have a broad view of business and not a narrow mind on e-commerce. The only fault that I can find is that they were not creative enough to see that this message could itself have been marketed in another way, that did not alienate so many so quickly. This message is a good one for all who exist in the next 10 years. My advice is do not scoff too loudly from a narrow point of view.
Rating: 
Summary: A vision of how it could be...
Review: This is a book which presents a vision of the future and the way business will be done. It is not a 'best practice' advice giver, but a scenario of consumerism. At one end, the poor consumer faces a bewildering array of goods and services. On the other, vendors contend with a diverse and fragmented marketplace that makes finding the right set of customers akin to finding the proverbial needle in the haystack. And in between are the billions misspent on muffed purchases and broken marketing campaigns that serve only to stuff mailboxes and alienate the very customers that vendors are trying to attract. The rise of e-commerce has only intensified the problem by offering consumers even greater choice and vendors more competition. John Hagel and Marc Singer think they've got a better idea, and in Net Worth, they present an online scenario that would end this chaos and give both customers and vendors what they really want.
Rating:
Summary: A mirror with many faces
Review: This is a book with interesting angles, possibilities, and opportunities. Like a mirror with many faces, it's rich with informative ideas. It provides another system of thought. I recommend it.
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