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.
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","iv":"edeaefbb76a9a5ad69eb59dc4040693f","s":"4ec19e199905fd7a"}