Adapt Now Or Be Disintermediated, says @FakeElsevier
Élan Vital 2012-05-31
Reed Elsevier’s received a scathing critique by The Street’s Jared Woodward this week, who bets heavily against its stock [RUK] :
“We regard the common stock as an implicit naked short put option because, while the upside potential from the publishing division is limited, the downside risk from any revolt by its customers (libraries), laborers (academics), or funders (governments) is not.“
Woodward incisively covers everything from the academic-run The Cost of Knowledge campaign countering the Elsevier-backed Research Works Act, the Federal Research Public Access Act proposal to enshrine Open Access as a requirement of all government funders, a similar EU mandate, the UK recruiting Jimbo to help draft a similar policy for all UK-funded research by 2014, Harvard’s faculty memo on deep and broad Open Access support, the stunning successes of PLoS One and Rockefeller University Press, and @FakeElsevier‘s tweets and blog.
@FakeElsevier is a pseudonymous academic who has been sharing satirical posts and tweets about Elsevier since February. The subject above is from one of the more popular blog posts: “Dear Elsevier Employees, With Love, From @FakeElsevier.”
Take a look at Woodward’s report: It’s an exhausting and exhilirating read.
Federal Research Public Access Act