By mandating that digital platforms pay news publishers for the content that appears on their sites, Australia has helped to advance the global debate about tech regulation and the plight of independent media. But the Australian model has three limitations, indicating that an even more ambitious solution is needed.
MONTREAL – It is easy to forget that for a long time – long before Google and Facebook went head-to-head with the Australian government last month – there wasn’t a proven business model for the internet. That, after all, is why the dot-com bubble popped. But then Google and Facebook found a way to transform their biggest asset, user data, into a lucrative product: advertising that targets consumers with far more nuance and precision than traditional TV or print ads ever could.
MONTREAL – It is easy to forget that for a long time – long before Google and Facebook went head-to-head with the Australian government last month – there wasn’t a proven business model for the internet. That, after all, is why the dot-com bubble popped. But then Google and Facebook found a way to transform their biggest asset, user data, into a lucrative product: advertising that targets consumers with far more nuance and precision than traditional TV or print ads ever could.