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":"407ac0eab2296fb9e456190818f98885","s":"c9035866179b5a40"}