"Inequality, Productivity and WhatsApp"
Inequality, Productivity and WhatsApp
http://robertreich.org/post/77305875533
"SNIP.................................
How does it make money? The first year of usage is free. After that, customers pay a small fee. At the scale its already achieved, even a small fee generates big bucks. And if it gets into advertising it could reach more eyeballs than any other medium in history. It already has a database that could be mined in ways that reveal huge amounts of information about a significant percentage of the worlds population.
The winners here are truly big winners. WhatsApps fifty-five employees are now enormously rich. Its two founders are now billionaires. And the partners of the venture capital firm that financed it have also reaped a fortune.
And the rest of us? Were winners in the sense that we have an even more efficient way to connect with each other.
But were not getting more jobs.
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