Facebook should heed the lessons of internet history

The Economist:

This transition away from public consumption of content on social networks to more private interactions is a substantial vulnerability for Facebook’s business. Mr Zuckerberg has acknowledged as much, comparing this transition to Facebook’s earlier shift from desktop computers to mobile and predicting that making money from stories and messaging “will take some time, and our revenue growth may be slower”. It is unproven whether these new products can ever be as lucrative as Facebook’s core offerings.

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