With looming introduction of #threads and the subsequent integration with the #fediverse I thought a quick summary of a key piece of #economics literature is in order. Likely too late, but perhaps not.
Basically, what is #facebook or #meta business model?
The production of the #audiencecommodity
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(This is from 1977, by Dallas W. Smythe, so some of it may seem obvious in retrospect. Please read it through.)
(Also I'm posting as I go, so it might take a bit).