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MattG comments on Open thread, 18-24 March 2014 - Less Wrong Discussion
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You have to remember that you are not the customer for Facebook... you are the product.
Giving you more control over your timeline and the posts you see is good for you, but makes Facebook's ability to charge for access to you through "promoted posts" substantially less inviting.
On the other hand, something like graph search allows the opportunity to compete with Google and LinkedIn.