6/6/2023 0 Comments Marc goodman books![]() ![]() Instead, its value comes from the millions of users who contribute to the network without being paid for it.” Its inventory is personal data-yours and mine-which it sells over and over again to parties unknown around the world. ![]() What did you get out of the deal? As the computer scientist Jaron Lanier reminds us, a company such as Instagram-which Facebook bought in 2012-was not valued at $1 billion because its thirteen employees were so “extraordinary. As a result of their free labor, Facebook has a market cap of $182 billion, and its founder, Mark Zuckerberg, has a personal net worth of $33 billion. Viewed another way, Facebook’s billion-plus users, each dutifully typing in status updates, detailing his biography, and uploading photograph after photograph, have become the largest unpaid workforce in history. ![]() A business Web page and its associated ad revenue were worth approximately $3.1 million to the social network. Your friendships were worth sixty-two cents each and your profile page $1,800. A study published by the Wall Street Journal in advance of Facebook’s initial public offering estimated the value of each long-term Facebook user to be $80.95 to the company. ![]() “Google gets $59 billion, and you get free search and e-mail. ![]()
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