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Federal Reserve

devalue the savings of Americans

That’s not to say there isn’t any room for humans in Demand’s process. They just aren’t worth very much. First, a crowdsourced team of freelance “title proofers” turn the algorithm’s often awkward or nonsensical phrases into something people will understand: “How to make a church-pew breakfast nook,” for example, becomes “How to make a breakfast nook out of a church pew.” Approved headlines get fed into a password-protected section of Demand’s Web site called Demand Studios, where any Demand freelancer can see what jobs are available. It’s the online equivalent of day laborers waiting in front of Home Depot. Writers can typically select 10 articles at a time; videographers can hoard 40. Nearly every freelancer scrambles to load their assignment queue with titles they can produce quickly and with the least amount of effort — because pay for individual stories is so lousy, only a high-speed, high-volume approach will work. The average writer earns $15 per article for pieces that top out at a few hundred words, and the average filmmaker about $20 per clip, paid weekly via PayPal. Demand also offers revenue sharing on some articles, though it can take months to reach even $15 in such payments. Other freelancers sign up for the chance to copyedit ($2.50 an article), fact-check ($1 an article), approve the quality of a film (25 to 50 cents a video), transcribe ($1 to $2 per video), or offer up their expertise to be quoted or filmed (free). Title proofers get 8 cents a headline. Coming soon: photographers and photo editors. So far, the company has paid out more than $17 million to Demand Studios workers; if the enterprise reaches Rosenblatt’s goal of producing 1 million pieces of content a month, the payouts could easily hit $200 million a year, less than a third of what The New York Times shells out in wages and benefits to produce its roughly 5,000 articles a month.

But once it was automated, every algorithm-generated piece of content produced 4.9 times the revenue of the human-created ideas. So Rosenblatt got rid of the editors. Suddenly, profit on each piece was 20 to 25 times what it had been. It turned out that gut instinct and experience were less effective at predicting what readers and viewers wanted — and worse for the company — than a formula.

Here is the thing that Rosenblatt has since discovered: Online content is not worth very much. This may be a truism, but Rosenblatt has the hard, mathematical proof. It’s right there in black and white, in the Demand Media database — the lifetime value of every story, algorithmically derived, and very, very small. Most media companies are trying hard to increase those numbers, to boost the value of their online content until it matches the amount of money it costs to produce. But Rosenblatt thinks they have it exactly backward. Instead of trying to raise the market value of online content to match the cost of producing it — perhaps an impossible proposition — the secret is to cut costs until they match the market value.

4. "Libraries are obsolete." Everywhere in the country librarians report that they have never had so many patrons. At Harvard, our reading rooms are full. The 85 branch libraries of the New York Public Library system are crammed with people.

5. "The future is digital." True enough, but misleading. In 10, 20, or 50 years, the information environment will be overwhelmingly digital, but the prevalence of electronic communication does not mean that printed material will cease to be important. Research in the relatively new discipline of book history has demonstrated that new modes of communication do not displace old ones, at least not in the short run.

Last year the sale of e-books (digitized texts designed for hand-held readers) doubled, accounting for 10 percent of sales in the trade-book market. This year they are expected to reach 15 or even 20 percent. But there are indications that the sale of printed books has increased at the same time.

Many of us worry about a decline in deep, reflective, cover-to-cover reading. We deplore the shift to blogs, snippets, and tweets. In the case of research, we might concede that word searches have advantages, but we refuse to believe that they can lead to the kind of understanding that comes with the continuous study of an entire book. Is it true, however, that deep reading has declined, or even that it always prevailed?

Writing looks as bad as reading to those who see nothing but decline in the advent of the Internet. As one lament puts it: Books used to be written for the general reader; now they are written by the general reader. The Internet certainly has stimulated self-publishing, but why should that be deplored? Many writers with important things to say had not been able to break into print, and anyone who finds little value in their work can ignore it.

research sharing. Each class has their own private group, and we have one group for all our classes. And I belong to several groups, including Classroom 20, Diigo in Education , and EdTechTalk. I’ve created a group for the Teacher Challenges, called “ebchallenge” if you decide to join Diigo. That way, our new PLN we are building can share resources with each other.

certain topics, specific tools (like Google Apps).

Now that I’ve got you thinking, Diigo has a free and premium version — and teachers should apply for the education version. My language arts students use Diigo for research, note-taking, and writing feedback and

t that is just for Tools — Animoto, Wallwish, etc. I also may put how-to pages there, or in my How-To List. I have lists for lessons,

Comment in the webpage using the Sticky Note feature and in the description box about what you learned when you click bookmark. Save.