In The Paddock out to sort the jumble for nervous first-time buyers
Robin Gibson surveys the online landscape
You read some really tortuous stuff about how many big online players aren't making a bean. Actually they're losing tins of beans; probably numerous steep hills of beans. But it doesn't matter, because they're changing capitalism.
In this new goldrush, losing $164m on $2bn turnover is fine. You don't need profit – just make sure you always look like a target for someone bigger. Oligopoly results. And that's not the kind of opoly a consumer wants.
Even dear old Twitter is talked up as a Facebook acquisition. Dear, dear old Twitter. How we'll miss it. Or will we? As 'Sinas' commented the other day on an online thinkpiece: "People don't want to pay for Twitter and Facebook because, ultimately, we know we don't actually need it. If it all dies off again, so be it . . . we'll be fine without."
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