From the comments, on Facebook

The problem with this paper is that it excludes, entirely, individuals and businesses who use Facebook as a (or The) e-commerce channel for their commercial activities. That’s a common mistake, especially in the US and Europe, where the platform is widely viewed as a means for non-commercial social interaction. But elsewhere in the world – especially Africa and India – it’s also viewed as a crucial commercial and trading platform (that Facebook is trying to leverage). Ask a Nigerian secondhand goods trader how much he’d accept to give up his account, and I’m pretty sure it’ll be more than $1k! Anyway, I touched on some of this back in April, here: https://www.bloomberg.com/opinion/articles/2018-04-19/emerging-markets-can-t-quit-facebook

That is from Adam Minter.

Comments

Facebook is used in Ecuador to sell houses, appliances and services. They don't have an MLS or much in the way of eCommerce outside of facebook. Amazon is opening in Columbia so that may be next, but facebook is pervasive.

*Amazon is opening in Colombia, not Columbia

Sure, but is this a short run or long run effect?

I guess I am optimistic enough to think that free people (*) will migrate to thin platforms with less exposure - in many senses of that word.

* - China possibly excluded.

Trump wants media in the US to be like it is in China where recent government fake news in a painting is being censored because its used to make the unacceptable point everything should be suspected of being fake news. Trump attacks news reporting the fake news Trump created three years ago or just two days ago as fake news.

Who was in the room when China switched to capitalism?

Who is going to pay for the great tall beautiful wall keeping out drug dealers flying into Dallas on Aeromexico?

Who will be proud to claim ownership of shutting down government?

(See about the "who was in the room where it happened" painting
https://www.npr.org/2018/12/19/678294347/the-story-of-one-painting-proves-that-china-is-trying-to-rewrite-history)

Cowan was right originally with his heated reaction to the Trump tariffs. This was after Mr. Zuckerberg went in front of congress and discussed data. The job of media companies is to sell user data to companies. So, how is Facebook different than a common newspaper? It's not. There are all types of categories in business that are created for purposes of financial marketing that destroy economic common sense. Look at the oatmeal.com. In 2010, TheOatmeal.com received more than four million unique visitors per month. As of 2012, The Oatmeal's annual revenue was around US$500,000; three-quarters of that was from merchandising and the rest was from advertising.
Social Media is a myth. Facebook's users follow the same tract as NYT journalists. There is no difference. It's not worse.

Okay, so businesses may use Facebook to reach their customers. Does that excuse those businesses for what Facebook does to, well, their customers.

Well, who sets the financial marketing goals? It's not the journalists. Nick Kristof spoke about highest amount of views per article. But their business is based on amount of clicks per ad. It's not even the Newspaper. The goals are set by the advertising agencies. And clicks are treated as a branding metric. But what have we learned from NYT editorial content? It's based on hurtful metaphors, Hegelian Christ-childs, etc ...so there is a culture of consumerism associated with sick content. The ads themselves are not sick, but they are associated with a sick culture. Digital ad spending has increased exponentially while digital ad prices have gone down. The auctions and supply chain have made advertising more profitable (because advertising had a model that was impossible to measure profit, only growth). But the content in terms of social generated content has gotten more sick. The Tech Giants, (FB, Snapchat, Myspace) are insane. Who owns myspace today? Specific Media...ever heard of them? If scarcity is a sign of high prices, what does it say about Facebook that the content is a sick commodity?

I'm on Instagram.. Instagram is a replacement for cocaine and ecstasy. I only have 50 followers. I bet the average college student today has upward of 200. Put that in your pipe and smoke it NYT.

Even in the United States, Facebook is starting to replace Craigslist. When my wife and I wanted to get rid of baby stuff that our baby grew out of, we sold it on Facebook. We're in Northern Virginia, Tyler's backyard.

Why is that Nigerian secondhand goods trader on Facebook? Because other traders are on it. That's the only reason, as a businessman, that he's on it. It's called the network effect, which is produced by the other users, not by Facebook.

To determine Facebook's value, you have to distinguish the network effect from whatever unique property or feature that Facebook provides. You can't conflate the two, as the network effect itself is not something created by Facebook.

But how much would the Nigerian trader be willing to pay to stay on Facebook? WTA > WTP ?

Ah so FB is neither continuous or discrete, rather disengaging? I'm not sure e-commerce is a solid capital market formation. It seems a bit prescriptive, right? What would he be willing to take to leave FB?

classifieds are a big business in America, there's a lot to say about consolidation.

Not much. If Facebook were to move into a pay model tomorrow, the market network with its buyers and sellers would move to the next best free alternative. Facebook knows this.

But FB creates all type of creative advertising solutions. Social engineered ads, pre-roll video, sponsored posts, cross-screen targeted ads, social intent engineered ads. FB can create ads based on your "purchasing intent," which is based on your past browsing behavior. So CPA advertising links an ad to a purchase. Direct response. Is there any reason the advertising agency would have to tell that story to the advertiser, balancing per weighted ad of television and print?

> elsewhere in the world – especially Africa and India – it’s (Facebook) also viewed as a crucial commercial and trading platform

Facebook has three disadvantages. 1. Consumers are unable to check the retail prices against the whole sale prices on the same platform. 2. The sellers on Facebook cannot reach the Chinese consumers. 3. There is no Facebook integrated financial services and sellers in some African countries cannot receive Paypal payments.

https://www.forbes.com/sites/mfonobongnsehe/2015/03/12/nigeria-becomes-paypals-2nd-largest-market-in-africa/#229916bb65e9

But PayPal’s relationship with Nigerian users is one-sided. Nigerians are only allowed to send payments abroad through the platform. (Nigerian) Users are currently unable to receive money, and even though Nigerian internet users have continuously demanded for this service, PayPal and Goldfeld have been elusive as to if and when the service will be accessible to Nigerians.

I have no connection with Alibaba.

https://www.von.gov.ng/coralpay-brings-alipay-to-online-merchants-in-nigeria/

"CoralPay brings AliPay to online merchants in Nigeria"

http://www.africanews.com/2018/11/02/alibaba-launches-africa-s-first-electronic-trade-platform/

"""able to support small businesses, young people and women here in Africa and sell their things to enable them to global buy, global sell, global deliver, global pay and global travel"""

Aliexpress Nigeria https://www.aliexpress.com/country/ng-nigeria.html

#4 Re: "Jardina: (1) blacks should work their way up without any special favors;"

2018 Georgetown Uni Baker Center Poll: Agreement - Blacks should do the same without any special favors

White|VotedTrump|Strongly agree|52.44%
White|VotedTrump|Agree|40.40% ---> sum=92.84%
Black|VotedTrump|Strongly agree|41.14%
Black|VotedTrump|Agree|44.08% ---> sum=85.22%
Hispanic|VotedTrump|Strongly agree|49.75%
Hispanic|VotedTrump|Agree|35.89% ---> sum=85.65%
Asian|VotedTrump|Strongly agree|40.21%
Asian|VotedTrump|Agree|53.92% ---> sum=94.13%
---
White|VotedClinton|Strongly agree|10.56%
White|VotedClinton|Agree|20.65% ---> sum=31.21% <---
Black|VotedClinton|Strongly agree|10.55%
Black|VotedClinton|Agree|21.34% ---> sum=31.88% <---
Hispanic|VotedClinton|Strongly agree|17.60%
Hispanic|VotedClinton|Agree|32.43% ---> sum=50.02%
Asian|VotedClinton|Strongly agree|16.02%
Asian|VotedClinton|Agree|27.98% ---> sum=43.99%

===

Opps. wrong thread.

FWIW I lwork overseas and find myself using Facebook less and less for social interactions and more for various info from the Group pages. Theres a group for my large apartment building detailing personal stuff being sold or given away, various info of importance or interest etc. Same on the various group pages for people I work with, etc.. Although it wouldnt bother to discontinue FB and lose the social aspect, the Group info keeps me signed up.

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