>It’s ‘Absurd’ To Expect Users To Pay For Facebook, Twitter
It’s ‘Absurd’ To Expect Users To Pay For Facebook, Twitter
Opens up the controversial subject; Fred Wilson: It’s ‘Absurd’ To Expect Users To Pay For Facebook, Twitter The Huffington Post Bianca Bosker First Posted: 04/29/11 02:36 PM ET Updated: 04/29/11 03:02 PM Venture capitalist Fred Wilson of Union Square Ventures, known for its investments in startups such as Twitter, Foursquare, and Kickstarter, among others, took a strong stand on the ways Internet companies could monetize their platforms—and couldn’t. During a panel at the Guardian’s Activate conference in New York, Wilson argued that most online companies could support themselves entirely on advertising and that it would be unthinkable for social media companies to ask their users to pay. For services like Facebook and Twitter where the user “provides all the value,” it’s “absurd to expect users to pay. They’re the ones creating value,” said Wilson. “To ask them to pay is the most ridiculous assertion ever.” He noted that he asked his son, an avid Facebook user, whether he’d still use the social networking site if it started charging. Wilson said his son answered he’d be “gone in a minute.