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Thirty years ago, Kodak dominated the business of making photographs. It made cameras, sold film, and employed 140,000 people. Now Instagram handles many more images than Kodak ever did, but when it was sold to Facebook in 2012, it employed 13 people. This striking comparison was made by Jaron Lanier in his book “You are not a gadget”, to stress the transition we have made to world in which value is increasingly created, not from plant and factories and manufacturing equipment, but from software, from brands, from business processes – in short, from intangibles.
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