Suppose it’s just not even 20 years ago and you’ve built Prodigy. You and Compuserve pretty much dominate the on-line world through your dial-in walled gardens. There’s this new kid on the block – America On Line – who is off on the horizon and the three of you are all running what I like to call the “peep show” model: the longer users stay connected, the longer the meter runs and the more you take in. Great business. Until it wasn’t. Continue reading

