Can you name the world’s biggest news organizaton?

You’re probably thinking News Corporation or New York Times. Over at the Harvard Business Review Joshua Gans wants you to think again. He says it is Facebook:

And that reaction is precisely why many people look with disbelief at the extraordinary estimates of Facebook’s value. Facebook is not some plaything. It is a fully fledged news organization on a scale we have never seen.

News organizations do two major things, commercially speaking: they use news to grab attention and then sell that attention to advertisers.

An unorthodox take, but read the full post to see how social networking technology is changing business models everywhere.

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