I don’t have factual figures on the online ad spend. But agencies spend on average 1-10% on online media.

Also note that small today doesn’t mean small tomorrow. Online ad spending has consistently seen CAGR of 20-30% for quite a number of years.

2) Note that Mustafa was chosen as the example in this long tail scenario because they seem to stock anything and everything.

3) If we take into consideration all physical retailers, then retailers win hands down.

4) We can consider Ad inventory as products, but then we should start comparing such companies to newspapers/magazine/publishers etc…

5) Singapore’s total ad spend is reaching 2billion/year. The 30m is about 5 days worth of off-line spending.

6) Small is still small regardless of how many ways we look at it.

7) Precision of numbers is definitely important and especially more so for small outfits like startups.

Actually this is the problem I face when dealing with people, a lack of precision in the numbers we use. I am not being anal here but numbers make all the difference in business.

During the pre-internet age, large companies formed and dominated through operational efficiency and economies of scale.

When the internet arrived, large companies found it even easier to dominate, because they controlled the media and products. That is why 80-20 rule exists. Its true, 80% of wealth is controlled by 20% of people. Maybe in Singapore it’s like 90-10.

Sure, there were a few dotcom made it during the dotboom, but they exist because they provide a service that people want, that traditional large companies didn’t provide. (eg. free email, auction, online news, dating, jobboards, search etc..)

The arrival of social media is the empowerment of individuals (and small business) with similar media technology that will drive first eyeballs, followed by products and services. (preferably electronic products, but social media indicates localised distribution is possible.)

However, also bear in mind, what while we are all talking about this, Mustafa is making more money in one day than what all singapore dotcoms make in one year.

Mustafa understands the long tail too, but doesn’t do business online.

The longer your tail, the more effort is needed. The longer your tail, makes the online presence suitable. How long does your tail need to be for you to make any money? How many tails can singapore accomodate?

In essence, the long tail is a great concept, but it has very little meaning in a controlled economy.

Please feel free to pose these questions to the panel.

The real disruption of social media is the concept of ‘eating your own bread’. Your space (your blog) belongs to you. Its creating eyeball flow disruption. Its introducing niche products. This driving other dangerous thoughts, that if you could own your own “space” maybe you could own your own business, maybe own your own products.

Social Media is facilitating the long tail of ‘ideas’. This is the value of the long tail in Singapore. This is the disruption we should keep an eye out for….

Ideas are dangerous things for a society than wants control. But this long tail of ideas is the x-factor (multiplier) to the Singapore economy. (Its the transformation that Singapore needs to become a nordic economy.)

Are you required to do anything about? Probably not. Its possible to outsource this long tail of ‘ideas’ quite easily unless you are expected to execute it. :)

rofl, the long tail is the “traditional” Internet business model.

the panel should be entertaining ;)

I highlighted the main points which Chris spoke over the interview. :)
Thanks for the note.

Bjorn,

Yes, I have emailed the question to all the panelists for my panel. So, they should be prepared for the question… That’s the sequel.

Cant wait for NEXUS 2007!! EXCITING!

Cheers,
RZ

Anyway, I’m assuming the bold fonts are highlighted by Chris himself?