4 ms·

I love this fact! I would have never realized it

• vlovich123 3y ago
  These are probably pretty arbitrarily priced so someone thought they'd be cute & everyone else picked up this rate.
  • lukas099 3y ago
    I don't think market prices usually work this way. Am I missing a reason that this is an exception?
    • nicklecompte 3y ago
      I would think classical mechanisms of price determination don't really make sense when there's a brand new market: customers don't know how much things "should" cost and businesses can't make decisions via comparison to competitors. So there is some arbitrariness in setting the initial prices - you can't do market research without an established market. This is especially true with these data brokers, since it's not like "cost of materials and labor + a profit margin" makes sense. In this particular case data is more like a new commodity than a manufactured good.
    • vlovich123 3y ago
      Do you really think that market prices are going to reflect such a popular adage because a picture really is worth 1000 words? Does this kind of pricing differential get reflected in the salaries of journalists vs photographers? No? Then as someone else said it's a new market with an artificially "for lolz" initial price that competitors are blindly copying to avoid having to do their own price discovery. I'd expect this to shift & correct slowly over time unless it's a cute joke that everyone appreciates & the true price is close enough that no one cares enough to differentiate in that way.