Social Media and Entrepreneurship

Dick's post reminded me of this article: http://www.nbcnews.com/news/world/fake-news-how-partying-macedonian-teen-earns-thousands-publishing-lies-n692451. This is also relevant to Daniel Miller's article in how the development of social media has opened up new opportunities and new forms of entrepreneurship. In this case a teenager in Macedonia earned about $60,000 over six months merely by creating a fake new website, using click bait, and advertisements. His earnings soared high above the average annual wage in his town which is a little less than $5000. By capitalizing on the drama of the US election and playing to the views of Trump supporters, a mere teenager managed to create a successful business of providing fake news. He even has three employees now. Without the development of social media, such transnational business of such magnitude, especially in comparison to his local socioeconomic context, would never have been achievable.