The Good NET Guide

Posts Tagged ‘from-the-label’

MySpace Records, the indie record label that’s a joint venture between the social network and Interscope Records, is going through some changes. Not to be confused with MySpace’s popular MySpace Music free streaming portal, MySpace Records is a small record label designed to help promising new artists get early exposure. Earlier this evening, LA-based radio station KROQ reported that MySpace Records may have been disbanded. We’re hearing from multiple sources that that isn’t entirely accurate: A handful of people were let go from the label’s small team, and the label’s GM Jay Scavo has returned to Hollywood Records. But all artists currently signed to MySpace Records will remain on the label, and the partnership with Interscope remains.

That’s sure to be good news for the label’s artists, which include Pennywise and Nico Vega. The label has also previously featured a handful of artists who were eventually promoted to the main Interscope label, including Kate Voegele and Mickey Avalon. However, while the current artists are safe, we’re hearing that the direction of the label and its future structure are still up in the air.

When MySpace Records launched, MySpace planned to leverage its then-recent acquisition by News Corp to turn the label into a jumping off point for hot new bands (former CEO Chris DeWolfe was quoted as saying they’d get the bands into Fox movies and TV shows). Obviously it hasn’t performed as well as everyone hoped, but MySpace has still managed to help kickstart the careers of quite a few well known bands. Likewise, its MySpace Music site continues to perform well despite MySpace’s slowdown in other areas.

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Back in 2008, we wrote about a startup called NewsCred, which looked to help identify the most trustworthy news sources using a combination of community voting and algorithms. That didn’t really take off, so the company is now heading in a new direction: it wants to help users build their own custom online newspapers in a matter of minutes, offering a professional-looking site tailored to include the content you’re interested in. And using NewsCred premium features, you could potentially create a combination news aggregator/opinion site in the same vein as The Huffington Post.

Using the site is simple: you choose the title of your new virtual paper, then specify which topics you’re interested in following. The site includes a number of categories to choose from, including tech and politics, but you can also generate one based on a keyword if you’d like. Once you’ve chosen your topics, NewsCred will generate a virtual newspaper containing the latest stories from each area. Stories are drawn from popular relevant news sites and blogs, and you can specify a RSS feed if it isn’t in the NewsCred directory. Along the left side of the screen is a list of sections that you can jump through, much as you would in a physical paper. There are a handful of sample sites you can test for yourself, like this one on Mobile News, Celebrity Gossip, and Manchester United.

We’ve seen news aggregators before, but NewsCred has a few options that are less common. For one, the site allows you to write editorials, which can be incorporated into the front page (or the topic specific sections). And the site will soon offer a premium version called NewsCred Pro, which is designed to help you further customize and even monetize the papers you’ve built. With NewsCred Pro, you can host your paper at a personal domain, run your own advertising on the page, eliminate NewsCred branding, and further customize the layout and newspaper template. Together, these features could allow you to build a Huffington Post-style news hub, complete with your own opinion pieces, focused on whatever topic you wanted.

NewsCred has done a nice job putting their custom papers together, and most of the site looks very well done (though I did find some poor results as I searched for topics to add). But the new space it is entering is going to be competitive. For one, homepage sites like iGoogle allow users to include news feed widgets. And there are sites that are more directly competitive, like Meehive, the Kosmix-powered custom news site (covered here). That said, NewsCred may be able to build a business helping users build their own niche news portals, the same way Ning appeals to users building custom social networks.

NewsCred closed a seed round of funding last year from private investors in the US, UK, and Switzerland, as well as “one of the large Silicon Valley VC firms” (the company won’t disclose the names of their investors).

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People are continually looking for new pieces of information. We go to school, read articles on a variety of subjects, have free websites such as Wikipedia, and use search answer engines such as Aardvark and Quora for the sole purpose of quenching our never-ending thirst for knowledge. But how do you find and access wanted information which people are unwilling to divulge, at least for free, except to their closest confidants? Enter GenApple, an information brokerage company who hopes that their website will help to facilitate the exchange of such knowledge. By creating a marketplace for information, GenApple, just entering public beta, hopes that those who would normally withhold certain privy information will be more reticent to disclose it when monetarily incentivized.

Those with information to sell can create a listing similar to one you would find on any classifieds page. Postings are listed on the website immediately after submission. When creating a listing, the seller has the ability to hide any or all of his personal information which he used during sign-up: all that will show is the username. Conversely, he can show all of his information if he thinks it will aid in the process of a buyer purchasing his information. Potential buyers are able to post listings as well in the “I want to know” section. Here, buyers can state the kind of information they want, along with how much they are willing to pay for said information. GenApple also allows people to create free listings, where users can give away specialized knowledge for free. The knowledge is entered into an information vault for future use and can be any type of text entry or data file. GenApple creates their revenue by taking a commission on the final sale price.

The anonymity of sellers, coupled with the fear of fraud may be an issue for some, and as such, GenApple provides a slew of buyer protection features. They have a standard feedback system where users can rate a seller, and also have a feature where sellers can put forth a veracity statement. GenApple operates under a brokerage business model (they host the listings and process payments) in order to instill trust in the listings being offered. In doing so, GenApple has the ability to hold payment to the seller if the buyer is not satisfied. If a buyer is not fully satisfied with the purchase, they can submit a ticket to GenApple who will then make a final decision as to whether fraud was committed or not and will act accordingly.

Given the nature of this idea, GenApple will surely run into a couple of roadblocks down the road. The most obvious one, is that of insider trading. GenApple explicitly states in the terms of service that the exchange of insider information is illegal, but when has that stopped anybody? To counter this, GenApple has the authority to delete any suspicious postings and will cooperate fully with any government officials if the problem does come about. Additionally, only two employees at GenApple monitor listings. As they reach critical mass, they may find that personally overlooking the listings will be too great a burden for humans to do no matter the number of staff. To help with this, users are able to flag postings, but they will surely need a better system when they grow.

GenApple’s idea is novel and shows promise. If they are able to continually protect buyers as the company grows then they could be successful. We’d give them some more pointers, but why give away such valuable information for free?

The company is self-funded and operates out of an office in Minnesota.

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