I liked the Mendeley guys. Their product is terrific — read your scientific articles, annotate them, be guided by the reading behaviors of millions of other people. I’d met with them several times over the years about whether our LibraryCloud project (still very active but undergoing revisions) could get access to the incredibly rich metadata Mendeley gathers. I also appreciated Mendeley’s internal conflict about the urge to openness and the need to run a business. They were making reasonable decisions, I thought. At they very least they felt bad about the tension :)
Thus I was deeply disappointed by their acquisition by Elsevier. We could have a fun contest to come up with the company we would least trust with detailed data about what we’re reading and what we’re attending to in what we’re reading, and maybe Elsevier wouldn’t win. But Elsevier would be up there. The idea of my reading behaviors adding economic value to a company making huge profits by locking scholarship behind increasingly expensive paywalls is, in a word, repugnant.
In tweets back and forth with Mendeley’s William Gunn [twitter: mrgunn], he assures us that Mendeley won’t become “evil” so long as he is there. I do not doubt Bill’s intentions. But there is no more perilous position than standing between Elsevier and profits.
I seriously have no interest in judging the Mendeley folks. I still like them, and who am I to judge? If someone offered me $45M (the minimum estimate that I’ve seen) for a company I built from nothing, and especially if the acquiring company assured me that it would preserve the values of that company, I might well take the money. My judgment is actually on myself. My faith in the ability of well-intentioned private companies to withstand the brute force of money has been shaken. After all this time, I was foolish to have believed otherwise.
MrGunn tweets: “We don’t expect you to be joyous, just to give us a chance to show you what we can do.” Fair enough. I would be thrilled to be wrong. Unfortunately, the real question is not what Mendeley will do, but what Elsevier will do. And in that I have much less faith.