The Upside of Facebook’s Unprecedented Power

“Digital media companies do five things. They create, host, curate, distribute and monetize content. Facebook now does four of them.”

That was how Chartbeat founder Tony Haile opened a recent essay on Facebook, published here on Recode. The implications of his statement aren’t subtle. Facebook dominates — at least, seemingly — so many core elements of the media value chain that it represents a kind of terrifying world destroyer to content producers.

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