Jeff interviews Dick (Richard) Reisman on his FairPay proposals for a new pricing logic for the digital services economy that improves value and revenue sharing for the customer, while building a better business model for the digital services organization.
Dick Reisman is the founder of Teleshuttle. FairPay is a radical approach to revenue and a cooperatively adaptive hybrid of free and paid content pricing for digital media content that extends to all digital services. He proposes a new “invisible handshake” based on the power of computer-mediated markets to build more collaborative relationships.
In this interview, we explore emergent pricing, empathy in the technology-augmented ecosystem, the role of the investment community and new metrics to value companies based on customer co-creation in pricing and loyalty, and how network and platform distribution disrupts the old transactional model.
Some topics discussed include:
- Dicks Vision for FairPay (2:25)
- The history and flaws with current pricing models and explains some talking points of his value-based pricing model (5:00)
- Examples of who decides the price in different buyer-seller relationships (8:40)
- The differences between dynamic pricing in models like ridesharing and FairPay’s ambitions to have more transparency and cooperation between buyer and seller (12:30)
- Similarities and differences to other value theories which look deeply at everyone in the value chain (18:00)
- Dicks ideas about internet regulation, data, disinformation (20:15)
- The new logic of the digital economy and flaws in subscription-based pricing (24:25)
- The investment community’s role in FairPay (26:50)
- The role of empathy in the entrepreneurial mindset and the investor community (30:50)
- What Dick envisions for his legacy (36:30)
Check out Dick’s blog posts at FairPayZone.com to learn more about his work.
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