For a long time, I’ve been wanted to do some serious research into the economics of free software: there is an awful lot of opinion about how you can and cannot make money out of free software, and not really much fact (or, at least, no-one has looked at the experiences of companies who’ve been in this industry for the last 10-15 years).
No-one has really gone through the history of all these businesses and tried to construct some picture of how businesses have done. There are examples of businesses that are pretty successful – Red Hat, Google, MySQL – are there are examples of those who haven’t been successful. Progeny are the most recent example, and are why I’m thinking of this right now – I just read the article on Linux.com about their demise.