Knowledge at Wharton

What if you could print a perfect-bound volume for as little time as it takes to brew a cup of coffee? That is the premise behind the Espresso book machine which turns digital PDF files into paperbacks in minutes. Jason Epstein and Dane Neller chairman and CEO respectively of On Demand Books in New York the company behind the Espresso book machine believe their technology has the potential to transform book publishing. Epstein who was editorial director of Random House for 40 years recently wrote a widely read essay in The New York Review of Books about the impact of digital technology on publishing. In an interview with Knowledge at Wharton and Stephen J. Kobrin editor of Wharton School Publishing Epstein and Neller discuss their views on where the publishing business is headed.

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Goldman Sachs is the Wall Street mega-firm whose money-making prowess leaves many impressed envious or suspicious. Now the firm’s reputation is on the line as it fights a fraud suit brought by the U.S. Securities and Exchange Commission over a single deal in 2007 the sale of a complex ”synthetic collateralized debt obligation” called Abacus 2007-AC1. The deal lost investors $1 billion but produced $1 billion in profits for Goldman’s collaborator Paulson & Company a hedge fund betting the housing bubble would collapse. Experts at Wharton and elsewhere analyze the financial legal and ethical issues raised by a case that has riveted both Wall Street and Main Street.

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High-tech e-book gadgets are one thing that is revolutionizing publishing. If companies like Silicon Valley startup FastPencil get their way social-networking-based self-publishing services will be another. FastPencil is what CEO Steve Wilson calls a ”next-gen” publisher which uses social networking and an arsenal of widgets to take authors through their book projects from the drawing board to the bookshelf potentially for as little as $10. In a recent interview with Knowledge at Wharton Wilson discussed how FastPencil’s motto -- ”Write once publish anywhere” -- is turning traditional book publishing on its head.

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To find the hottest restaurant bar or concert venue in town many young adults are no longer checking in with their friends. They’re ”checking in” virtually via Foursquare a location-based social networking site. While Foursquare is being touted as the Next Big Thing experts say the true potential lies in companies knowing exactly where customers are and pitching offers or services based on the spots these customers frequent. The challenge for Foursquare and others observers suggest is transitioning beyond buzz and finding uses for geo-targeting that are both profitable and practical.

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When microfinance began its scope was simple: Charitable donor-driven organizations with a mission to eliminate poverty gave out very small business loans to help the world’s poor. Big banks -- deeming the loans too small to be profitable -- steered clear. That is now changing said microfinance leaders who gathered recently at Wharton’s Aresty Institute of Executive Education to participate in the Women’s World Banking Advanced Leadership Workshop. Banks realizing there is money to be made at the bottom of the pyramid are entering microfinance markets they previously ignored. One of their most immediate needs: loan officers and branch managers with knowledge of the field.

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Your company has developed a new product that you think will be a winner. A lot of money has been poured into research and development analysis of the competition and advertising. But there is one key element you may have overlooked: What do you charge for the product? Wharton marketing professors Jagmohan Raju and John Zhang say companies frequently don’t put anywhere near as much thought into pricing as they should. In their new book Smart Pricing Raju and Zhang argue that firms ought to engage in innovative pricing to achieve maximum profitability and they show how companies like Google are doing just that.

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The Dow has closed above 11 000 the European Union is bailing out Greece and the U.S. economy seems to be perking up. Is the future as bright as it looks? In fact it looks pretty good says Wharton finance professor Jeremy Siegel. While the Dow’s 11 000 close doesn’t mean much to professional market watchers it can give ordinary investors a psychological boost. According to Siegel the U.S. economy is in a self-sustaining recovery no longer dependent on government stimulus. And while the housing market could take years to make up recent losses the economy -- and stocks -- should do well he said in an interview with Knowledge at Wharton.

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The Sweet Sixteen the Elite Eight the Final Four: It’s that time of year again when college basketball fans everywhere are betting on who will win this year’s National Collegiate Athletic Association (NCAA) tournament. But forget the fans. The big winners in terms of money are spread all over the playing field from the network broadcasting the games to the ticket sellers to the colleges that attract the players. How did the NCAA get to be such a money-making powerhouse?

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America’s health care reform may be out of the emergency room but its prognosis remains sketchy. Passage of the historic 2 400-page legislation by no means ended the health care debate say Wharton experts: It just splintered one massive question mark into a lot of new big ones. As one Wharton professor noted: ”The current legislation is going to be in play for a good long time.” But he also pointed out that the bill offers new business opportunities in such areas as medical information technology education and methods of delivery. (Video with transcripts)

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After discovering that hackers based in China had broken into the Gmail accounts of Chinese human-rights advocates Google halted operation of its Internet search engine on the Chinese mainland earlier this month and started directing users to its Hong Kong site. On March 29 Chinese officials retaliated by blocking some of Google’s mobile Internet services. While conflict may have seemed inevitable what does it mean for Google’s long-term plans for operating in China? And what lessons can other multinationals learn as this story plays out? Knowledge at Wharton asked Wharton management professor Marshall Meyer and marketing professor John Zhang these and other questions. 

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