Journalism Professor Lee Banville asks whether Facebook has “jumped the shark?”
He quotes Eric Schmidt: “Every two days, we create as much information as we did from the dawn of civilization up until 2003.”
Here are a couple of other factoids Banville mentions to give an idea of the explosive growth of information on the Internet:
“Every minute 48 hours of video is uploaded to YouTube.”
“Every minute 2 million people search Google for something”
In the sphere of the Internet, Banville observes, there are about four titanic “gatekeepers:” Google, Amazon, Facebook and Apple (iTunes).
Most of those gatekeepers have various ways to make money.
Banville, in this short video, explains why Facebook has only one way to make money, and why, since it went public, it will be under continuing pressure to increase its profit year after year.