Editor’s note:Daniel Marovitz is CEO of Faculty of 1000. Prior to that, he was the CEO and co-founder of buzzumi, a cloud, enterprise software company.
Scientific, Technical, and Medical (STM) publishing is big business. It generates $19 billion in revenue per year, the majority of which is earned by a few powerful publishers that enjoy profit margins of up to 40 percent. Inflated subscriptions sold to academic libraries keep them moving ahead because the librarians feel they have no choice but to buy. These companies add little value to the actual publishing product but they are entrenched.
Many forces are now at work to change the status quo which has existed for more than 100 years.
The primitive publishing model employed by these publishers is actually a detriment to science. Research paid for by taxpayers is often restricted behind pay walls, major breakthroughs that could potentially save lives languish in articles…
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