For ourselves. I think there is a statistic that 90 percent of the worlds data has been created in the last two years. It is astonishing. So when you approach big data questions you can do it one or two days. One way is symbolize it and come up with unexpected outcomes. I dont think that is unrealistic. But what i think publishers can do to minimize the impact of the noise is to try to answer the specific questions rather than worrying about all of the data being collected. In education you have data the analytical engine that is available on our platforms and the whole presentational level. We use the data to provide the teacher with the analytical dade data they use to help the students. So any data that is able to support learning becomes more powerful. And that is focused around the user interface, they dont have a huge bench strength where they can do the analysis themselves. So we really focus around the old user interface, analytics and presentation and it is easier and the teacher is able to look at something and use it affectively. To do that you need to invest in your infrastructure. Any downside . Anything you are getting too much data and it is counter productive . It is not it is counter productive because you need to understand what is noise and what is real data that enables you to use that from a prevent preventive perspective. Identifying atrisk children is early and saves the system money. How do you identify the right data . The key is not to be is to be very conscious of privacy. The district owns the data and has the access. You talk about the expensive infrastructure in technology you need to get. Chris are you using this and what are you seeing happening . We have a tremendous mount of data. Not just the books you are reading but even with how people read within a book. We know which pages you read which pages people read fast, slow, if people go to the end of the book before starting the book and we thought this was going to be a very Interesting Data set and were willing to share it with publishers but we have not seen wanting to do anything in theteresting with it. I would be happy to hear what the panelist think about this data we have that we are happy to share but unsure kwhautwhat to do with it. We have looked at the data and i am not sure what to do with it beyond giving it to authors who are very interested in who skipped to the end of the book and where people get stuck but we are not the content creators so it is hard to look at the data. This is probably talking about people coming to page and the Conversion Rate and no further image at all. We love that kinda data and that is the kind of data amazon has provided to marketplace people but not to Book Publishers and that would be fascinating to all of us, i think. Scott, you said you are an out sider with the most objective look. You have a sense of data that is being created in the book industry. Any sense of the watt the players should be should be doing . How do they not not let it go to waste or create value . You are generous. So the points have been stated we are a wash in data. We need intelligence. The nsa collects so much data and the cia plays a more valuable role distilling it down to one page every day for the president. That is the hard part. It isnt data. It is what to do with it. When i am sitting here i look role models. Find the most successful industry in content and try to duplicate it. Software we talk about what adobe did. They said we have the radically innovate and went to 10 a month and the revenue dove. This is the future we have to jump on the grenade and i wonder if the industry is capable of the leadership, fear and capital out there, to get together and offer a massive offering of a subscription bases on a low price that makes it irresist irresistable. It doesnt take a brain surgeon to see your Business Model isnt working. And this entire eco system feels like it is getting the crapped kicked out of it. Anyways i will stop there. I see dominique shaking her head. Scott we are not having the experience. It is not looking quite like that. But part of what you are recommending so you know is actually illegal. So which part . Lawyers in the audience are shaking their head yes. Which part . Getting together is called cohersian and we are not low aed to do that. In my opinion someone is going to aggressively test that. Your primary players have 90 percent market share. Google has 90 percent marketshare and what is amazon . 3040 percent of online commerce. What share of your industry . 60 percent. So to me this is going to challenge it. They get 60. They get 90. But we get in trouble above 10 . You want to know what to do with data . Show there is justifiable reasons for you to start speaking more loudly with one voice. From an outside perspective publishers are against changing the model. I agree it doesnt look like it will sustain but publishers are focused on a fixed amount of revenue from a big book. It is always focused on the book where bits of content we have and monitor in any way. Buit links back to the fact without common standards it is hard to monetize it. And i am just going to comment on one thing scott said he thought that amazon and other players were dominant in the industry and it would be beneficial for the books to be put in one lowcost subscription service. It can be done and it is not going to be done by the publishers coming together but there are independent parties doing this. And i am proud of the success we made in signing up public enemypublishers. This is the skyped of model that could shake it up. The terms with publishers are not sustainable from a business perspective. It will have to be a ship saying i expect a set amount for each book subscription or wholesale there is going to be have to be a shared thing where the vendor is slicing their part off top. There has to be a change in how we modify the content. We are publishers are not the determinant here. We are really not talking about the most Important Group of people who actually do determine what happens to content and that is authors. Authors and agents control content and it is while we are totally thinking to myself and totally open to radical Business Models there is a conversation about how it works for a model and on behalf of the su sustainability of the industry going forward. We are running out of time. Another thing for dominique in addition to authors and agents we should not forget the users to ultimately will be asking for different Business Models. There is a whole generation of kids growing up having a different relationship with technology. They are going to be expecting a much more flexible Business Model and the ability to interact with content in a different way that none of us have probably thought about. Very simply on that if you think about it for years information has been having to be found. You could not go to google as a kid. You had to go to the library. Google is successful in indexing that data. It is foreseeable things like the apple watch and whole movement about sending personalized data to people before they want it or are asking for it and how does that factor in the publishing world and getting your information to people in that fashion. Lets see if i can add one more thing. In our business that is called cure curerated content. Scott talked about the changes in terms of online commerce and social commerce and that future that is on not going topecif that is exactly not going tent come to you in a specific way. I think we talked about the obstacle obstacles to business and changes we need and we are running out of time so i would like to close it off with pre predictions for the future. What do you think will be different . I would love to go down the line and here the big changes we are expecting in the next 510 years. Do you want to start us off . I i think subscription is going to be a big Business Model. I think if you look at other related spaces like video or music their description is important model. In video netflix 60 million subscribers and spotify with as a million subscribers. There is no reason that should not be in the book space. You think publishers will change the model or publishers will change or a dramatic shift in author power . What do you think will allow those changes to happen . I think it will just gradually happen over time. When we started in this direction over two years ago, every book publisher said no, and now we have a few thousand publishers signing up a new one every day. Four of the big fives are providing books in some form or another and expanding the number of books they are giving us. We have not had a single publisher put up books and take them down they only put occupy more over time. Tow so i think it is just a matter of time. What do you see . Your industry is education. But from what you see in education what do you think the trade book world is going to look like in five to ten words . I think for the trade industry a long time ago i used to say we all expected ebook to be growing faster several years ago and it took quite some time to get where it is today. I think our notion of book itself will be different in terms of how we present the content and the idea of having a variety of content. I dont know what i want frankly i say this is much better on what i want to watch rather than me. Similar to that is the notion of something highly personalized already telling me this is what you like model and using information much more than people who look like you, sound like you, read this thing. But a lot more data that describes me as an individual as a different level of granule using data and providing that information and getting around the issue of discoverability and realizing that is the book and content i want. I think that is where i believe a lot of the technology is going to be. Four really quick things. One i think mass market is going to disappear almost entirely. I think amazons share will decline not because of what they are doing but no regional and local sellers of content both physical and digital as well which makes it more complicated for publishers but more opportunities as well. I think Digital First publishers and author collectives and companies driven by agents will increase in popilarity lairpopilarity and they will have to move toward common standards. I see no two records are the same. It is not a standard. The ability to leverage like an atis and examples around big data that is critical to publishers security. Interesting. So first the obvious. Print lives on. 70 percent of books are print and i would be surprised if in the next five years it knows to 50. Retail brick and motor retail lives on. You mean see changes there and it will be interesting as they move their channels on to something interest. Online commerce big developments social commerce army retail google rethinking their search and retail platform so i am expecting all of that to take place. I am expecting a tremendous innovation in education. Those guys are really doing amazing work. I see some great work in potential publisher and i am interested in the space between content and reading and great work in social reading. Good luck. I will talk about my industry. I am in education. And i dont mean to be disparaging about your industry but i will be the man in the mirror test the way you know if you are about to be disrupted is if your prices increase faster than inflation. And in my industry we tripled tuition and my class is no different than 14 years ago. We charge students 6,000 to teach my class. 140 kids every night and every night we walk in it is 65,000. That is outrageous. It is moral issues because most of it is taken on in debt in these talented young people. It is having a huge ripple affect. My industry is ripe for disruption. And i dont know who amongst you does textbook but wow are you sticking your children chin up waiting to get clocked. Textbooks and education we are due. Anyway it will be a very interesting ten years and i appreciate your time. Thank you all of the panelist so much for being here. I want to thank bea and the Incredible Team that makes it happen and thank all of the audience members. I hope you have a great 2015 and lets see if we can make the exciting innovation happen in the future and make it work for us. So thank you. [applause] this is the inside of the Convention Center on the west side of new york. Book time is happening today. This is a book festival open to the public that follows the on the heels of the Bookexpo America and booktv has been live all week at the Bookexpo America and today we are taking advantage of the fact we are here and chris hedges has been invited on to talk about his most recent book coming out this month called wages of rebellion the moral imperative of revolt the first line in your book, we live in a revolutionary moment, what do you mean . I mean that is ideas that have sustained the old system of global capitalism, the idea that an elite accruing to itself massive amounts of money will somehow trickle down and make the middle class and the working class more prosperous has been exposed as a lie. The Political Institutions that continue that have lost their support and efficacy. Congress has an Approval Rating of 79 percent and we enter what the theorist describe as an inter a period we are lost place in ideas that create an Economic System but we have yet to find a vision on what should replace it. But the discon tainttent and sense of betrayal is there. In essence Corporate Power no longer concerns itself with the rights or grievances of citizens is wide spread. Would you see collapse of the Current System . Ultimately, yes. The system is not sustainable. Any time a small cobble takes power and a twist institutes power to serve their own end you can go back to airistotle you end up with revolt or tyranny. The austria empire because in rot until 1842 until the end of world war ii. They dont respond rationally to the needs of the citizens. It doesnt matter what the citizens want. No one wants wholesale surveillance but we get it anyway. Everyone is sick of the wars in iraq and afghanistan but they never end because they make a certain part of the economy, manufacturing arms, very wealthy. No the trade agreements but they are ran through and are held in secret and our legislature are not allowed to speak about them. I sued obama over section 1021 of the National Defense act that allows the overturn 150 years of domestic law and allows you to strip people of their rights if they are deemed to be terroristmentterrorist. We won in the Fifth District court of new york and was vetoed by the president. We know it had a 97 disproval rating. These are symptoms of a state that doesnt work on behalf of us. And that ink i think really runs all the way across the political spectrum. If the state continues to ignore the legitimate suffering of the population despite appeals for a sensible reform then inevitablely it will trigger more radical responses that may lead to a confrontation between large segments of the state. When it comes and what is triggering it often times it is a crisis, but an economic meltdown, severe droughts in places like california, another act of catastrophic domestic terrorism, or anything that kind of the system cant sustain a shock and a trigger zone reaction. I would talk about black lives matter with all of the people walking through the streets and cities like baltimore saying we live in a country where almost every 28 hours an africanamerican man or woman is shot dead lethal force, usually unarmed, we have video of our Police Actually murdering unarmed civilians and yet despite the outcry it continues. And we have in the last month seen a space of shootings of police officers, one in new york, two in mississippi just the another day another one and i am hoping these are just incidental and you know but if that becomes a pattern, that is certainly would replicate the societies that are declining where people reach such a rage they lash out. The state has turned their back on people like you and me how affective are these rebellions . Black lives matter . Occupy wall street . Snowden . Well, they are affective in this sense. They expose the lie that the state uses or the myth the state uses to explain itself to the public. You know the idea we have a right to privacy and you know from the stone revelations we are the most photographed population in human history. I covered the collapse of the state. You cannot use the word liberty when you are watching 24 hours a day by the government. You never want to give that government that kind of power because when they acrude that coupled with militarized police coupled with a legal system that renders those of state target defenseless if they feel threaten they will use all of the tools at their deposable to protect themselves. So i say in the book, i begin the book by talking about past revolutions and revolutions coming in waves so you see what is happening in greece, what happens in spain affecting what happens in ireland and other parts, revolutions are nonviolent mostly. They say no revolution, and i think it is correct, is successful until significant segments of the internal Security Apparatus defect or are no longer willing to protect and discredit the power elite. Despite there was violence in the Russian Revolution but what broke the back of the regime was the red riots in 1917 and they sent it back to the bizarre enforces and refused to fire on the crowd and fraternized with the crowd and they have to rush from the front to the back. I watched the same thing in east germany and that was until our state the most sophisticated apparatus for surveyillance in the soviet union even. So the communist dictator is upset about the street demonstrations with 70,000 people are marching through the street protesting the communist regime and sends town para troopers to fire on the crowd and they get there and refuse to fire and the power is dropped in a week. The shaw flees the country and the the armed forces in 1979 are no longer to protect them and the clerics are able to take over. That is how revolutions work. And it goes back to a 1978 essay called the power of the powerless. I cover about the revolution in the theater every night. But it is that stating of the truth that becomes more and more obvious to the Wider Society