Once upon a time, the Internet was predicated on user-generated content. The hope was that ordinary people would take advantage of the Web’s low barrier for publishing to post great things, motivated simply by the joy of open communication. But then ad sales came into play.

That business model is still what most of the Internet relies on today. Rev... See more

Most of this came to him in the mid-1980s, when Mr. Goldhaber, a former theoretical physicist, had a revelation. He was obsessed at the time with what he felt was an information glut — that there was simply more access to news, opinion and forms of entertainment than one could handle. His epiphany was this: One of the most finite resources in the w... See more