Facebook wants to be the Interent, ie, the only place you need to go online. To that end, The New York Times — and a few other news organizations — is getting ready to test Facebook as a delivery platform for its content.
There are many reasons why this is a bad idea in the long run, even if there might be some short-term profit to be made. Other digital skeletons suggest just how short-term that profit might be: AOL, the first walled garden designed to be an Internet gatekeeper; first Yahoo and then Google provided powerful on-ramps to Internet content.
Posted July 28, 2012 on Political Memes
There’s a meme floating around Facebook this week. It features this “trickle up” economics quote from Will Rogers:
The money was all appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover didn’t know that money trickled up. Give it to the people at the bottom and the people at the top will have it before night, anyhow. But it will at least have passed through the poor fellows hands (earliest source I’ve found, March 22, 2012).
The meme isn’t new (it’s been around almost three years, at least) but the quote is mostly accurate (it’s missing ellipses). However, important context is also missing, context that places this observation slap dab in the middle of the Great Depression (to talk like Will Rogers, just a little bit).