The Atlantic has a fascinating article on why sociologists and business scholars are studying ‘The Grateful Dead‘. ‘The Dead’ led the way in social networks and  the information economy that we now take for granted

In the late 1980s, Rebecca G. Adams, a sociologist at the University of North Carolina at Greensboro, who studies friendships formed across distances, noticed deep bonds between Deadheads. The bonds seemed to belie the idea, then popular among leading social thinkers, that communities based on common interest, whose members do not live near each other, lack emotional and moral dept.

Many of us in the blog and Twittersphere  take it for granted that you can have meaningful friendships across social networks with people you have never met.

The Dead were also at the forefront in understanding customer loyalty and the value of giving something away for nothing:

Wired editor Chris Anderson in his recent best-selling book, Free: The Future of a Radical Price. Voluntarily or otherwise, it is becoming the blueprint for more and more companies doing business on the Internet. Today, everybody is intensely interested in understanding how communities form across distances, because that’s what happens online.

Much of the talk about “Internet business models” presupposes that they are blindingly new and different. But the connection between the Internet and the Dead’s business model was made 15 years ago by the band’s lyricist, John Perry Barlow, who became an Internet guru. Writing in Wired in 1994, Barlow posited that in the information economy, “the best way to raise demand for your product is to give it away………….. But here’s the thing: if I give my song away to 20 people, and they give it to 20 people, pretty soon everybody knows me, and my value as a creator is dramatically enhanced. That was the value proposition with the Dead.” The Dead thrived for decades, in good times and bad.

Really does make you want to “Turn on, tune in, drop out“  and get rich.