The Idea of a Business Model

Over at Knowledge Problem, Pittsburgher and economist Lynne Kiesling has a great post about music, record labels, and the long tail. Lynn's got real Pittsburgh cred; she includes a link to WRCT 88.3 FM Pittsburgh. (HT to the always-insightful Grant McCracken.)

What does the post really have to do with Pittsburgh? The key is in Lynn's last paragraph:
When I started writing this post it was going to be about the death of the big record label. I think it still is about the death of the big record label, but not about the concept of a record label. For many artists (3/4 of my indie sample here), a label relationship has value added, and the other two might decide to sign with a label in the future. But these are not the labels of our past; the label business model is part of the evolution of the industry.

I like the connection between the economics of record labels and the concept of a record label. There's a similar connection between the economics of a business model, and the concept of a business model. "The concept of a business model" is a terribly badly-defined but terribly important thing. I'm going to be looking for examples of how the evolution of the Pittsburgh economy can be explained (partly, not wholly) by concepts.


1 Response to "The Idea of a Business Model"

Mark Rauterkus said... 4/05/2006 9:52 PM

Here is a concept to noodle about --- for Pittsburgh and the region, and beyond...

How the super rich get richer and the poor get poorer.

Digital divide.

Or, Haves and have nots. And, the gulf among those and its shifts.

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Pittsblog 2.0 is written by Mike Madison, a law professor at the University of Pittsburgh. Send email to michael.j.madison[at] Mike also blogs at, on law and technology. Chris Briem of Null Space drops by from time to time.

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