The brief history of the internet is dominated by wishful thinking about turning internet traffic into revenue; companies that have managed to do it are vastly outnumbered by those who have learned the cruel new information era twist on ‘if you build it, they will come.’ The modern form of that now runs: ‘if you build it, they may well come, but only as long as it’s free.’ That is why, as Warren Buffett observed, the internet is probably a ‘net negative for capitalists.