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":"8a13d57dd98f75ee02459a95a265c770","s":"d89f5d6f85ac0df8"}