A recent survey showed that 57% of respondent executives view user-generated content as one of the greatest threats to existing business models. Why is that? “Because they can’t control user-generated content, and they only know how to make money when they are in control of people,” says Jason Calacanis in an email to Smooth Harold. “Over time they will learn you can make money when your not in control–but that will take years.”
No wonder. Not being in control is a scary thing, especially when trying to turn a profit.