Business
Google & Facebook laws just a Backrub for News and Nine – Michael West News
Google threatens to withdraw search from Australia and Facebook to remove news posts. These are not idle threats. Kim Wingerei reports
Its hard to pinpoint the exact moment when the decline of old media started. Was it the founding of an online search company, Backrub, by a couple of software engineers in 1998? Or when NewsCorp sold MySpace for $US35 million in 2011, writing off an investment of $US580 million. Or maybe the seminal moment was the public listing of Facebook in 2012 for a seemingly ridiculous valuation of $US90 billion?
Backrub was renamed Google, Myspace became dead space and Facebook now has a market capitalisation…
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