01-01-2017, 07:02 PM
(01-01-2017, 08:31 AM)Mikebert Wrote:Some Guy Wrote:This is true, but only partially so. While those tech companies made their money by cannibalizing old media, they did so because they provided more value to the people paying than their competitors, and they do so because they provide more value to the consumers.
Did they? How successful have new media been in getting consumers to pay for their product? Facebook, Twitter, Youtube etc. are all free to the user. By definition, their product has no value to consumers, since consumers pay nothing for it.
Consumers pay plenty for it, in the form of that fraction of their spending that supports the advertising and marketing budgets on which new media survive. Where did you think Facebook, Twitter, and Youtube got the money to pay their employees?