Value Capture · Data businesses · The five decisions
Value goes where the work is. Most data businesses are built as if it went to the data.
I write about the hidden economics of data businesses: who ends up with the money, why, and the five decisions that settle it before any negotiation begins.
The book
Value Capture: The Hidden Economics of Data Businesses. A book for the people who own, price, sell and buy data businesses. Out in 2027. Read more
Start here
If you read one essay first, read this.
28 September 2026 · 4 min read
Foursquare did the work. The buyer's decision sat one link further on.
Foursquare did its own enrichment for a decade. The deal shows what that work was worth one step short of the buyer's decision.
Read this first →
Latest
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The rake is decided before the negotiation begins
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25 February 2026 · 4 min read
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11 February 2026 · 3 min read
In advertising, wrap is the product
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For operators, boards and investors who have to decide where value goes before the dust settles.
Speaking & teaching
Where the thinking gets tested.
Keynotes at Forbes, Richmond, Confartigianato and Confcooperative; guest lectures at Bologna Business School, LUISS and Università Cattolica.
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