When it comes to the production, distribution, and consumption of information, is the Internet a good thing, a bad thing, or just a different thing? In some ways, the Internet allows small producers to make a living while allowing for greater consumer choice; in other ways, it allows big producers to become ever more dominant, while quietly reducing the number of options consumers have. Everyone agrees that the Internet has dramatically changed the ways that businesses operate and content is created, yet the forces of centralization and monopolization continue to exert themselves in very familiar ways. The impact of the Internet on professions such as journalist, filmmaker, or author is extremely visible, yet it's surprisingly difficult to quantify exactly what happens to workers in those fields, much less find well-reasoned analyses of how to mitigate or ameliorate these tectonic shifts.
This is one of those works that's primarily negative, in that its critiques of existing attitudes towards its subject are much clearer than its "solutions". In this case, the effects that digital sharing technologies have had on existing high-tech industries have been subject to a lot of discussion but no clear proscriptions have emerged. Commentators like Clay Shirky have made lucrative careers for themselves as cheerleaders for the forces of "disruption", that ubiquitous buzzword that's usually wielded by people who aren't being disrupted - Taylor wants the reader to step back and consider the distributional impact of sharing technologies. A recurring theme is the ability of disruptive technologies to topple one existing power structure, at the (usually hidden) cost of entrenching a new one. An example is a company like Amazon and its battles with book publishers over royalties and pricing structures; who wins here - Amazon, publishers, authors, or readers? What about taxi companies vs Uber? Taylor Swift vs her record label vs Spotify? Everyone cheers when an old monopoly is toppled, but often a new monopoly is constructed, just one level off in the food chain.
The Taylor Swift analogy is probably the most relevant, since Taylor is most concerned with the economics of production. Does the existence of Spotify help or hurt Taylor Swift? Should audiences be on the side of the new distribution channels (whatever that means), the record companies, or simply the artists? Are artists like Taylor Swift better off with Spotify, traditional record labels, or some combination of the two? How about the next Taylor Swift, who is living in her shade, so to speak? The Internet famously facilitates "long tails", which allows for otherwise niche or marginal producers to find a voice and an audience. However, it also allows for network effects to exert their power as well, reinforcing the momentary ubiquity of Taylor Swift. Another famous example is the "Charlie bit my finger" video, which racked up huge numbers of hits on its way to becoming the most-viewed video of all time. This could be considered a triumph of the democratizing power of the Internet; unfortunately, for every truly viral video such as that one there are legions of more traditional corporate products, and today the list is thoroughly dominated by music videos, though "Charlie bit my finger" is still a top contender.
All of this is noteworthy. However, one prominent weakness of the book, aside from its paucity of solutions other than the expected vague outlines of motions towards copyright reform or general calls for more regulation, is that at times it feels like Taylor is just asking too much out of the Internet (a similar problem affected Tim Wu's otherwise thoughtful The Master Switch). If the Internet is just a platform, then blaming it for monopolies that use it is like blaming the ocean for the dominance of the Greek shipping industry, or blaming the electromagnetic spectrum for the Big Three TV studios in the pre-cable era. Additionally, in many ways it's hard to see how regulation, no matter how well-designed, would necessarily ameliorate the downsides of disruption - net neutrality might help companies like Netflix fight Comcast's attempts to charge it more for using so much bandwidth (and whether Netflix is actually in the right to demand that it be treated the same as anyone is of course an open question), but it doesn't help Hulu or Amazon Prime fight Netflix. Regulation is complicated, and in the case of media companies, which can simultaneously occupy several places in the chain of production and distribution, great care should be taken to avoid inadvertently stifling competition under the guise of assisting it.
Though Jean Tirole's reception of the 2014 Economics Nobel occurred after this book was published, his work on two-sided markets, particularly in the telecom field, would have given this book some more rigor. Her criticisms of claims that the Internet is inherently democratizing are on point, even if it's hard to tell from this book what the best way to resolve that issue might be. It seems like Taylor's heart is in the right place in terms of hoping for a more equitable distribution of power in these newly networked fields, but her work, though thoughtful, doesn't do much to get us there.