A note from Daniel

Network rents of dominant tech businesses are exorbitant. The combined revenue of the five largest social networks—Facebook, Instagram, YouTube, TikTok, and Twitter—is about $150 billion per year. Nearly all major social networks have "take rates" —the percentage of revenue network owners take from network users—of 100 percent, or near to it. (YouTube is the one outlier with a take rate of 45 percent, for reasons we'll get into later.) This means the vast majority of that $150 billion goes to those companies instead of the users, creators, and entrepreneurs who contribute, build on top, and create value for all.

Daniel Read Write Own, page -13 · February 24, 2024 Save to shelf
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