|
|
|
|
|
|
by gumby
1832 days ago
|
|
|
> Imho, what was happening in the Silicon Valley economy looks much more like displacement of value rather than creation of value (1). Google/Facebook have displaced other ad formats, redirecting money to themselves… I see your point but mostly disagree with it. The cost to advertise has dropped so while they have displaced some TV ads (still the largest) and most print ads, more people are able to advertise* so they are in a technical sense providing a different and better service to the market. By analogy you say the same about cars, which “merely” displaced peoples’ “transportation spend” away from horses. * I don’t think the growth of advertising has necessarily been particularly good; apart from the spying, people still only have 16 or so hours of consciousness per day so there is a zero sum and intrusive quality to ads. I’m just addressing your economic point. |
|
|