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That's the issue here. Price as a proxy works in a world where manufactured goods account for a large portion of economic value being generated but not in this
by askafriend 9y ago
That's the issue here. Price as a proxy works in a world where manufactured goods account for a large portion of economic value being generated but not in this new unprecedented digital world where the value is intangible and the services are often free.
Networks are the new monopolies in this new world and Facebook has the largest and most engaged one which makes it damn near impossible for new incumbents to participate in the market. Just look at Snap.
The question is this: how many companies or products were not created or could not sustain due to Facebook's built in monopoly? And of those that were created, how many will thrive? And of those that can thrive, how many can afford to not to be bought by FB?
I don't have the answers, but I'm convinced that these are the right questions. Price as a proxy just doesn't seem to make sense in this context.