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This monetary keynote by Jaron Lanier uncovers the hidden flaws of free services. He uses the example of Facebook and how its perceived greatness actually has costs.
Lanier explains that because Facebook is not monetized, it impoverishes society. It lowers job prospects for people as fewer things are monetized. In order for a successful economy in today’s world, Jaron’s monetary keynote argues that Facebook needs to be monetized and more secure.
Lanier feels that Facebook needs to alter its current business plan to a commerce platform, so people can monetize goods and sell them to each other. The world cannot operate on an economy based on money when there are products and services that are being given away for free. Although it may seem like a positive at first, it is actually negative.