?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.title=Rising+tide+rents+and+robber+baron+rents%3A+How+innovators+lose+their+edge+and+their+ideals&rft.creator=O'Reilly%2C+Tim&rft.description=During+a+new+technology+cycle%2C+market+leaders+emerge%2C+because+they+solve+new+problems+and+create+new+value%2C+not+only+for+consumers+but+also+for+a+rich+ecosystem+of+suppliers%2C+intermediaries+and+even+competitors.+Even+though+these+market+leaders+receive+a+disproportionate+share+of+the+profits%2C+earning+so-called+%E2%80%98Schumpeterian+rents%E2%80%99+as+they+dominate+the+emerging+market%2C+value+creation+is+a+rising+tide+that+lifts+all+boats.+However%2C+this+kind+of+virtuous+rising+tide+rent%2C+which+benefits+everyone%2C+doesn%E2%80%99t+last.+Once+the+growth+of+the+new+market+slows%2C+the+now-powerful+innovators+can+no+longer+rely+on+new+user+adoption+and+collective+innovation+from+a+vibrant+ecosystem+to+maintain+their+extraordinary+level+of+profit.+They+often+turn+to+extractive+techniques%2C+using+their+market+power+to+try+to+maintain+their+now-customary+profits+in+the+face+of+macroeconomic+factors+and+competition+that+ought+to+be+eating+them+away.+They+start+to+collect+robber+baron+rents.+This+pattern+has+played+out+throughout+the+history+of+the+computer+and+software+industry.+As+the+industry+begins+a+new+cycle+fuelled+by+generative+AI%2C+what+can+we+learn+from+this+history+that+might+guide+entrepreneurs%2C+regulators+and+policymakers%3F&rft.publisher=UCL+Institute+for+Innovation+and+Public+Purpose&rft.date=2024-03-14&rft.type=Working+%2F+discussion+paper&rft.language=eng&rft.source=++++(Working+Paper+Series%3A+IIPP+WP++2024-04).+UCL+Institute+for+Innovation+and+Public+Purpose%3A+London%2C+UK.+(2024)+++++&rft.format=application%2Fpdf&rft.identifier=https%3A%2F%2Fdiscovery.ucl.ac.uk%2Fid%2Feprint%2F10196649%2F1%2FO%2527Reilly_rising_tide_rents_and_robber_baron_rents-_how_innovators_lose_their_edge_and_their_ideals.pdf&rft.identifier=https%3A%2F%2Fdiscovery.ucl.ac.uk%2Fid%2Feprint%2F10196649%2F&rft.rights=open