Social capital in markets

Earl Mardle picks up on my post about MakeUpAlley and talks about SewingPatternReview and the success of Trade Me

These people come here to buy and sell stuff where do they get off holding online conversations about everything from music to dealing with depression? Don’t they know the web is about monetising something or other? Where on earth is the value in all this blabber? Well they are doing what happens in every genuine marketplace in the world, where the trading is only half the reason for being there; and the value approximates $700 million of Fairfax money somehow.

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