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amazing @ByrneHobart newsletter this morning which makes the argument that "death of media" is not a trend on its own, but is an example of the rule "successful businesses comodify their complements".
Google and Facebook do well when there's tons of free content out there
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3/ However, there can be overshoot: what happens if Google drains 100% of the profit from all the content on the web? A: all that content goes away, and now google is left indexing nothing, and therefore finds it hard to put ads next to empty search results
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4/ So, like a stationary bandit, you don't want to starve the peasants, you want to tax them at a rate where they grumble but don't die. If you overshoot and they start to starve, you need to feed them today to get more taxes tomorrow.https://www.cnbc.com/2020/03/30/facebook-commits-100-million-to-support-news-media-hurt-by-virus-crisis.html …
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