The initial public offering of Facebook prompted discussion of how the company will justify its behemoth stock market valuation over the long term. In a canny, but apparently unrelated move, GM announced that it no longer considers the cost of advertising on Facebook justifiable. The piquancy of this announcement was muted somewhat when the auto manufacturer also disclosed that it would not be advertising on the 2013 Super Bowl but the question nonetheless remains: why do hundreds of millions of people voluntarily surrender their right of ownership in their own data production to Facebook and sites like it?
Posted by Peter Hirsch in July 5th 2012
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