1/ The Internet lowers the returns to distributing facts, while social media increases the returns to distributing signaling goods.
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2/ The facts are still there and people can still reach them. But the institutions selling access to facts have lost their business models.
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3/ Newspapers have been exposed as mostly reprinting Reuters and AP. They can’t make a living selling access to facts anymore.
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4/ While the business model for distributing facts and truth dies out, the model for distributing opinions and signaling goods is booming.
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5/ Signaling goods signal status and affiliation to the other monkeys. They have value when produced or consumed conspicuously.
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6/ Signaling goods can be physical - handbags, watches, and fancy cars. They can be virtual - political, religious, and tribal affiliations.
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Are you calling me a handbag?
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A really, really nice handbag :)
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If he's good enough for GE, he's good enough for everyone? Fix their Maximum Whizzwam Predix nonsense while you're there... 
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