(Valleywag Emeritus Nick Denton took a break from playing with his iPhone to pen this screed. Enjoy! - Ed.)
Why Facebook isn't the reincarnation of GoogleNICK 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.