Anshe Chung, a real-estate tycoon in the digitally simulated
world known as Second Life, has apparently become the first
virtual millionaire–i.e., someone whose holdings in a make-believe
world are legally convertible into genuine U.S. currency worth
more than $1 million.
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Constituo, ergo sum. An interesting formulation that may well represent a new rationalism for the digital age. But for the moment, let’s not put Descartes before the horse. Let’s just get the measure of a phenomenon in progress – because Google has recently bet the equivalent of 257 Mervyns stores that the rise of video-sharing is more than just the latest rage. To YouTube’s new owners, “Numa Numa” represents nothing less than cultural, sociological, and economic transformation – including, but not limited to, a reallocation of the $67 billion that advertisers spent on TV in the US last year.
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A new company formed by AST’s Safi Qureshey could remake
how we use video on the Web–and speed the reinvention of
the media industry, argues Fortune’s David Kirkpatrick.
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