Saturday, April 12, 2008

The World's Oldest Profession Uses The Latest Technology

Prostitution is sometimes called the world's oldest profession. I don't know if that is true, but they are certainly innovative when it comes to technology. They use cell phones for text messaging, website allow you to rate the prostitutes and they use anti-bugging devices. It makes me wonder what kind of industry it is. It could be competitive if there are no barriers to entry and the competition would force all the suppliers in the industry to keep up with by innovating and adopting the latest technology. But it could be monopolistic competition since not all suppliers are the same-there could be product differentiation. Anyway, the article is Prostitution Advances in a Wired World. Here is an excerpt:

"There are a host of online message boards where clients or potential clients can discuss, rate and exchange information about individual women. Technology also eases the business-end of things, Weitzer says. While clients are surveying potential companions, escort-service managers can look into clients with a background check or even a simple Google search. Payment is easier, too. "It's often convenient to have an account established with a balance, so if you have the last-minute urge, you don't have to worry about getting money into the account," says Norma Jean Almodovar, executive director of the sex workers' rights organization COYOTE ("Call Off Your Old Tired Ethics") in Southern California."


"Not only can prostitutes and escort services now run more efficient businesses, but they can leverage word-of-mouth advertising in new ways to build their brands and troll for clients. Online social communities built around the escort and sex worker industries can solidify customer loyalty."

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