Information Freedom Creates Value

Richard Barton built multiple billion-dollar companies (Zillow, Expedia, Glassdoor) based on a single thesis about information transparency.

Core Thesis: "Information Wants to Be Free"

• Focus on bringing transparency to non-transparent industries
• Target industries where information is controlled by gatekeepers
• Create value by making restricted information publicly accessible

Successful Applications

• Real Estate (Zillow)

  • Made MLS listings public that were previously agent-controlled
  • Eliminated need for agents to be information gatekeepers
  • Gave consumers direct access to housing market data

• Travel (Expedia)

  • Replaced travel agents with direct flight search
  • Made pricing and options transparent to consumers
  • Eliminated need for middlemen in booking process

• Employment (Glassdoor)

  • Exposed real working conditions at companies
  • Made salary information public
  • Bypassed non-disclosure and non-disparagement agreements
  • Gave insight into actual company culture

Potential New Opportunities for Transparency

• Enterprise Software Pricing

  • Currently uses "call for pricing" model
  • Pricing based on company revenue
  • Lacks standardization and transparency

• Freelancer/Agency Quality

  • Difficult to verify quality before engagement
  • Requires back-channel references
  • No transparent performance metrics

• Company Software Stacks

  • What tools companies actually use
  • Analytics, email, paywall systems
  • Real operational insights

The key insight is identifying industries where valuable information is currently restricted or controlled by gatekeepers, then finding ways to make that information freely available to users.