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":"d47fa563d9404b0d66be753766e2f003","s":"cf93ab935d00ce54"}