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We spend far more time consuming content generated by our friends and family then we do consuming content created by media companies. I don't think he could conceive that a company like Facebook could control the means of distribution by providing something that people want more the professional media.

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"We spend far more time consuming content generated by our friends and family then we do consuming content created by media companies."

I think this is generally true, but less true today than it may have been a few years ago.

What percentage of interactions on social networks involve sharing or referencing preexisting content of some sort? Movie trailers, articles, songs, Buzzfeed lists, surveys, memes, and so forth? Many of these forms of content have been created by one type of media company or another.

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