KPCB Internet Trends (2011)http://www.scribd.com/embeds/69309864/content?start_page=42&view_mode=slideshow&access_key=key-1wrx3q4bqmhb2rr8mjge(function() { var scribd = document.createElement(“script”); scribd.type = “text/javascript”; scribd.async = true; scribd.src = “http://www.scribd.com/javascripts/embed_code/inject.js”; var s = document.getElementsByTagName(“script”)[0]; s.parentNode.insertBefore(scribd, s); })();

Executive summary in two sentences: “With undifferentiated products, price is competed down to marginal cost. And the marginal cost for digital content is $0.”

(via KPCB Internet Trends (2011))