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I first read about the book “Freakonomics” in the usual business magazines, which sang praises of it. Having now read it myself, I have to agree. I recommend this book to anyone who enjoys reading (it is a sheer pleasure) and who loves to have some mind stretching in the process.

It is not a book that give you answers to specific issues. Neither does it give you mental templates for quick fixes or your next business document.

“Freakonomics”, as its authors mention, has no unifying theme, but is an exercise to encourage people to think sensibly about the world we live in. Most of the book is based on the unique research of Steven Levitt, the US’s most talented economist under 40. His writing partner, Stephen Dubner, is a New York Times writer with the intellectual acumen to translate Levitt’s profound research into a very enjoyable layman’s read.

In short, “Freakonomics” shows how conventional wisdom, and seemingly obvious realities, are not necessarily the truths when they are subjected to robust analysis. Levitt enjoys asking very basic and simple questions abouy daily life. He then applies his economic tools of the trade to expose the truth, or alternate thinking, behind what we commonly accept or fail to ask.

Try the following subjects covered in the book:

• the true cause of the dramatic fall in crime rate in the US (ans: legalised abortion)
• exposing corruption in the national sport of Japan, sumo (makes Singapore football match-fixing look like child’s play)
• why obsessive parents actually add little value to their children’s future prospects (genes and family background are more important)
• why drug dealers still live with their mothers (only those at the top of the pyramid get rich – sound familiar?)
• why your real estate agent is not motivated to get you the best price for your house (simple mathematics at its best)
• how the Ku Klux Klan collasped due to the effort of one man (a truly inspiring story)
• exposing school teachers who cheat when under pressure to increase pass rates (wonder whether the same happen in Singapore)

“Freakonomics” is unqiue as it also draws on the field research and real life heroics of individuals to supply the raw materials for Levitt to apply his economic analysis. Regression analysis not sounded so exciting and meaningful. I even felt a tinge of nostalgia and yearned for significant differences.

For a layman like me, this book, besides being an enjoyable weekend read, serves as a reminder that the truth is not what the politicians or powers that be claim. Nor is it commonly accepted notions. The book also serves as a warning not to be lazy or negligent in applying our logic and intellectual faculty. God has given us an immense gift in our mental abilities – let’s not let it go to waste.

After more than a couple of years of engagement, our biggest project, the Singapore Tourism Board’s VisitSingapore.com, officially went live in Oct 05. Site extensions and other scaling up continue well into next year.

This project is led by our partner, GDIS. The project is huge and time-consuming as it is a multi-language (9 at last count) tourism website with a range of e-services and applications.

Convertium’s involvement includes product and content strategy, content architecture, user experience and user interface designs. GDIS project manages, implemented the content management systems and is developing all the applications and e-services in phases.

A project of this scale is rare in Singapore. We are privileged (thanks to GDIS and its management) to have been given the opportunity to apply our skills at this level.

Our experience on this project supports our view that, on the Internet, content and services are most important. Hence, you will find on VisitSingapore.com the visual and editorial presentation of Singapore as truly unique destination for visitors of all stripes.

Convertium is now hard at work rolling out the site in other languages. If you are reading this from overseas, do visit Singapore.

Funny what a difference just a few years make.

The company I worked for before launching Convertium, Asiacontent.com, was into publishing branded online sites across Asia (think CNET, MTV Asia, E! Online, etc). That model collapsed dramatically. Asiacontent.com went for its NASDAQ IPO on the week of the dotcom crash. The stock price never went above its IPO price (if my memory serves well). A year after its IPO, Asiacontent.com could not make or prove that its publishing and advertising model worked, and it went into self-liquidation.

Now, web content publishers are raking in the advertising dollars, along with complementary lines of revenue. And everyone one in the game is saying again that content is king. Content gets you the eyeballs, which gets you the advertising dollars. Then there are the online communities, the syndication deals, sponsorships, and offline tie-in’s.

Of course, back then, the madness and greed of the dotcom bubble led to stupid demands and decisions which crippled plausible business models. Plus, five years ago, Internet hardware and software were more expensive. Less people were online. Price points and expectations were simply out of whack.

Still, there are the famous 1990′s survivors like Amazon.com, Yahoo and Ebay. They are monsters now, joined by newer luminaries like Google. While people no longer become millionaires for stupid ideas, more people are now turning old ideas into new gold mines. From online grocers to hosting personal websites, it seems that all the old busted business models are coming back and making money. For sure, conditions are better, best practices are available, and people are less greedy. OK, scratch that last one.

If Asiacontent.com’s major shareholders had more heart and guts, they would now be sitting on a gold mine as well. Too bad all that is left is a small interactive solutions company called Convertium.