In case you missed it, Instagram was just purchased by Facebook for a billion dollars (yes, billion). This says one of two things to me. A) the valuation of this tech start-up (which currently has no revenue model) is incredibly inflated or B) the values of Americans are rapidly shifting to prioritize the preservation and sharing of experiences over that of being informed on local, national and global issues. What am I missing here?
What your mising here (said with a great deal of sarcasm) is that today’s economy operates on a level that defys convention. On what planet does an application that’s essentially a photography filtration system command $1B? This one. It’s loopy, so much so, that one day we’ll look back at this and laugh at the seemingly endless line of small, entrepreneurial digi-panies that are gobbled up by entities like FB and Google. Except those that sell will be laighing harder. The comparison to the NYT’s however isn’t exactly fair but seems relevant in terms of how our “value of information” is now so drastically off kilter.