
Stratechery by Ben Thompson
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stratechery.com
Playing on Hard Mode
One way to understand how the Internet is different is to not only examine what business models work, but also the history of how those business models came to be. Start with text and images, long the province of newspapers: the first attempts at website monetization placed ads alongside article text; after all, that is how advertising was done. Incredibly enough, it was a mere eight years ago th