(Valleywag Emeritus Nick Denton took a break from playing with his iPhone to pen this screed. Enjoy! - Ed.)
NICK DENTON — People assume that Facebook will find some way to make money besides traditional advertising, which is clearly not working . And why do they assume that? Simply because Google was equally clueless about its business model, and look at the company now. But they're drawing the wrong lesson. Just because a company has no idea how it will make money, doesn't mean that there is always an answer. Even for a site as hugely popular as Facebook. Google's discovery of its search goldmine should be seen as an anomaly, not an endless source of hope for popular Internet sites.