Customer Reviews

The Friction-Free Economy: Marketing Strategies for a Wired World

5 star:		(2)
4 star:		(0)
3 star:		(0)
2 star:		(2)
1 star:		(4)

 

 

Not only does the author carpet bomb with buzz phrases, he does not understand the difference between classical and Keynesian economics. He cites Keynesianism quite incorrectly, attributing to it concepts from classical and neoclassical economics. Scary to think that colleges pass this blunderation on to students.

This is a good treatment of the rules of the new economy although the author tends to let enthusiasm get in the way of a careful writing style. I wish there were a few less cliches. The rules are changing for internet based providers and therefore for all economic units in society. The author may believe that the rules are changing more rapidly than other observers. I tend to think that Michael Murphy's book on technology based stock analysis covers a lot of the same ground and in a more effective manner.

I was very unimpressed with this book. From the factual errors about what particular companies do, to the report of rumour as fact (e.g., the author's suggesting that a legendary story about a guy in Hawaii selling 250,000 to an A-Limerick-A-Day services for $1 a year -- which the author says he doesn't know is true -- proves his theories about the electronic economy), and his repeated references to John Maynard Keynes as *Maynard Keynes*, Lewis repeatedly demonstrated that he didn't know his subject and had not done research. Instead he seems to rely on platitudes dispensed during consulting gigs. The book starts going downhill from the beginning. A definite don't read. I give it a "2" for the attractive cover design, not what's between those covers.

While this may be the first book to elaborate on the economic phenomenon brought by the high tech industries, the author apparently did not spend enough time thinking about the subject. "Being the first is more important than being the best", one of the phenomenon discussed in the book, also applies to this book itself. The first two chapters are pretty good, the author tried to illustrate the new economic order by giving concrete examples, and comparing (rather superficially) with those of Adam Smith, Carl Marx and John Keynes. I was quite excited at that point, anticipating some insights from the rest of the book. But I got suspicious in Chapter 4 when the author threw the word "nonlinearity" around like a catch-all buzzword, with sentences like "because of the nonlinearity of the market, ...", which means nothing to me, and to the author, I believe. The rest of the book is a collection of half-page headlines from front pages of business sections. Even the tone sounds more like 30-second soundbite rather than result of research and deept thought. In summary, it is worth reading if you like reading headlines, and buzzwords. Don't expect any meaningful insights. It's not an economics book, although the first two chapters gives that impression. It is not a marketing book, although the title suggests so. It is not a serious book, which one can probably tell from the design of the book cover.

I was quoted in the book - yet I've never talked to the author. What he quoted was misquoted and to say the least, he took serious liberties. He lifted everything myself and a coworker said from a San Jose Mercury Newspaper article about the opening of an In-N-Out Burger, nowhere does he credit the Mercury News. What he plagiarized was twisted for his own use and not accurate to the newspaper article. He goes as far as to imply that I was standing in line with him and sitting with him eating a burger and having a chat with him. What a crock - I wasn't even in the same place he claims he is at.

I have not read the rest of his book. Knowing he plagiarized the Mercury News with zero credit, twisted those quotes and implied he and I knew each other in the space of a paragraph and a half convinced me I have no reason to read this book. In my opinion the author was out to make a fast buck by regurgitating other people's work. In a nutshell this is grammatical vomit.

A high-tech grifter presents a half baked collection of buzzwords, techno babble, and plausible sounding nonsense. Its AWESOME!

There were several intriguing points in the book "The Friction Free Economy," but none of the points were developed, supported or sufficiently documented. Lewis is an academic who presumably knows better; I think that he wrote this after long days at work, and it was never edited. The last two chapters are only a repeat of the first part of the book. I would recommend Grove's "Only the Paranoid Survive," Moschella's "Waves of Power," or Yoffie's "Competing in the Age of Digital Convergence" before this title- or Tapscott's "Digital Economy." Lewis just leaves you scratching your head, looking for the guts behind the fluff. It is an annoying book because of its laziness in supporting the potentially fascinating ideas. Lewis should rewrite it, and resubmit it to the public in a new form.

- A paradigm shift has occurred, and "The Friction-Free Economy" explains how the significant break with the old ways of thinking, and traditional economics, has affected a company's ability to compete in today's marketplace.

- Discussed are ways to strategize, envision goals, and clarify objectives in the business/internet arena. - Ted Lewis presents complex subject matter in an entertaining way that I understand it more readily and in greater depth. I especially like his acumen and quick wit.

- I enjoy watching trends in the computer industry, so I was fascinated to learn, the real underlying reasons, why Microsoft continues to issue new versions of a product. Also, I gained insight, on why a company would give their merchandise or services away for free. It's a discerning view on the how's and why's of what's happening, not in hindsight but as they occur in real-time.

- This isn't for the casual reader, though. It's geared toward the astute, knowledgeable and serious businessman, who wants to "grow an industry".

- To get the full benefit from this book, give a copy, to the key people in your organization and arm yourself with an economics book.