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":"ce2bece4f658ca732428ddc690edb592","s":"537e1a64e2777742"}