The flaw in business models for new-media and technology companies goes back to the early days of the Internet. Sooner or later, the 1990s’ revenue-will-follow-eyeballs model will meet its comeuppance, if Facebook’s current stock-price malaise is any indication.
{"ct":"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","iv":"53cae5668f3ee1f0b20374838b98225c","s":"5529d3ebb77dc559"}