We're constantly looking for better ways to define Yepic . . . what it is, what it enables. We've called it the content collaboration marketplace, and while that accurately describes the functional elements of the service, it doesn't really articulate what Yepic is all about. This article seeks to bring some clarity to the vision of our company.
One Platform, Many Applications
At it's core, Yepic is a technology platform that lets you do 5 very simple things:
1. Write articles.
2. Collaborate with other authors to improve articles.
3. Buy and sell articles.
4. Make requests for articles.
5. Collaborate with other users on requests for articles.
Simple, right? Write, collaborate, buy, sell, request, and collaborate again. About what? Now we get into the different applications of this simple, but very powerful platform for information development and distribution.
Level 2 Information
We were trying to come up with a way to describe the kind of information we'd like to see flourish on Yepic, and the one we've come up with--we know, we know, kind of a lofty goal--is what we call "Level 2."
Level 1 information is general info about a subject. The kind of stuff you'd find on Wikipedia, for example, or all over the web on billions of website. This is common knowledge, and it's generally available in abundant supply on the Internet. The quality varies substantially, although Wikipedia has really raised the bar in this respect. They, too, use a collaborative platform that allows users to contribute to, edit, and reformat the information on their site.
Level 2 information is information about a subject that has been adapted and formatted to a particular use. So if the Wikipedia page on The 2006 World Cup were Level 1 info, information about how to get tickets, where to stay, and how to have an excellent time at The World Cup would be Level 2.
Level 2 information is valuable information, stuff people are actually willing to pay to know. The closer it comes to the needs of its user, the more valuable it becomes. The more credible it is (and credibility can be attained either through the credentials of the author or by the number of people who validate and/or contribute to the information), the more valuable it becomes.
A friend of mine is moving to San Francisco and is facing the daunting task of figuring out where to live, whether to rent or buy, etc. He's researched Craigslist and has spent time reading up on San Franscisco in Wikipedia and a few other Internet portals. He's read as much Level 1 information as he can find, and he's still pretty frustrated. What would a good piece of Level 2 information look like for my friend?
Well, it would probably start with authentic experience. How about an article written collaboratively by 10 couples who've actually moved to San Francisco in the last year? How about 10 that have actually bought? How about 10 who've bought who make between $140-200K per year as a couple? How about 10 who've bought, make between $140-200K per year as a couple, and worked in San Jose? How about an article written by this group that identifies the top 10 pitfalls that can be easily avoided when moving to San Jose? Or an article that talks about the top 10 steps someone can take to survive financially in such buying conditions? Now we're starting to approach Level 2 information. I described the article to my friend and asked him how much he'd be willing to pay. "I dunno. Quite a bit, if the info was good."
If the info was good. Great point. How are we supposed to trust the content we find? That's why Yepic allows every user to rank everything they buy and every author who contributed to the article. How about one of the articles above that's been purchased by 238 users, 232 of which gave the article a highly favorable rating? Aha. Now my buddy's ready to spend some money.
You can take this approach with any subject. Drive the info down into Level 2 territory, adapt it and format it to a highly useful purpose, get some collaborators to improve your credibility, and price the article reasonably. If the content's good, if the title's enticing, if it looks and feels credible and useful, it will sell. And when it sells, people will give it good ratings. And that will convince other users to buy it too.
All the while, Yepic's management will be looking for ways to help the Internet community discover your content.
How will you make money? Yepic pretty much passes all the money from each sale directly to you. We just recoup some adminsitrative costs of hosting your info. We're even seriously contemplating waiving all those administrative fees in the beginning just to get the community off the ground.
More later . . .
