Seventeen years ago, it was hard for anyone working in the burgeoning digital media industry to imagine a world where Yahooand AOL didn’t rule the Web. Yahoo was worth $128 billion. AOL merged with Time Warner for $165 billion. Surely these were lasting empires. Nope! Today Facebook and Google dominate the digital media business. Pick your favorite data point to illustrate the point. Here’s mine: Together, the two Silicon Valley giants control more than half of...
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