Admittedly, what I made hasn't added up to a fortune. But that's ok. Again, it could be the sentimentalist in me, but I take pride and succor in writing an ad, in creating a commercial. Even a lowly banner ad, the butt of more jokes than Henny Youngman's wife, I take pride in. If I were a carpenter, I'd be planing the wood to a velvet softness, dovetailing the joints and making, at least, a thing that functions, at most, something that is a joy to look at.
Since the news of Cambridge Analytica and Facebook broke, people have been fulminating and breathing through their mouths about the wholesaling of their privacy.
How did they think Zuckerberg and Company were getting rich?
I checked this morning and Facebook's market cap is a staggering $461 billion. That makes it more valuable than nine General Motors or 11 Coca-Colas.
When it comes to Facebook, I always did a little math in my head. Accurate or not, the whole picture or half, naive or wise, it made sense to me.
I divide Facebook's market cap by the number of their users. For the sake of easy math, let's round up their 1.8 billion users to 2 billion. So divide their market cap, $461 billion by 2 billion and you have $230.50.
By my calculation that's how much Facebook are selling your data for. They're making over $200/user selling user-data.
Someone smart can come along now and refute my math and the components of my calculation. I welcome the discussion. And I could use a good comeuppance. In reality, who couldn't.
It's folly to think of Facebook as "free" or benign. It's folly to believe in companies doing something for nothing. As my Yiddesche mama would spit, "You don't get rich giving things away."
There's no doubt why Facebook considers its customers users.
We've been used.
And now some words from the cheery neo-Fascist "Wall Street Journal."