TIME technology

Amazon Investing Another $2 Billion in India

Customers Collect Online Orders From An Amazon.com Inc. Locker
An Amazon.com Inc. pickup and collect locker at Newbury Park railway station in Newbury Park, U.K., on Wednesday, July 23, 2014. Bloomberg / Getty Images

Amazon CEO says he has "never seen" a market grow quite this fast

Amazon plans to invest an additional $2 billion in its India operations, the company announced Wednesday, in an attempt to grab a growing slice of the country’s online retail market.

“We see huge potential in the Indian economy and for the growth of e-commerce in India,” CEO Jeff Bezos said in a statement. “India is on track to be our fastest country ever to a billion dollars in gross sales.”

Amazon launched its e-commerce site in India last year, going head to head with Flipkart, a local company founded by two former Amazon employees. On Tuesday, Flipkart announced that it had raised $1 billion in funding, the largest-ever sum raised by an Indian internet firm, the BBC reports, but still only half of what Amazon could retrieve from its deep pockets.

“A big ‘thank you’ to our customers in India,” Bezos added, “we’ve never seen anything like this.”

 

TIME Amazon

Amazon’s Latest Is a Total Game-Changer

Amazon Readies Kindle Fire Update to Keep Up With Apple, Google
Jeff Bezos, chief executive officer of Amazon.com Inc., introduces the Kindle Fire HD tablet at a news conference in Santa Monica, California, U.S., on Thursday, Sept. 6, 2012. Patrick Fallon—Bloomberg/Getty Images

Here's what the company's big move means for a hot new technology

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This post is in partnership with Fortune, which offers the latest business and finance news. Read the article below originally published at Fortune.com.

Amazon.com isn’t just a place to get books, music and other products that roll off assembly lines or stream online.

Amazon said Monday that online shoppers will now be able to buy 3D printed products on-demand from a list of 200 different items like bobblehead dolls, miniature plastic swordsand pet ID tags. The technology lets people customize their orders beyond what has been previously been possible on the online retailing site including bobbleheads made to look like family and friends.

“The introduction of our 3D Printed Products store suggests the beginnings of a shift in online retail – that manufacturing can be more nimble to provide an immersive customer experience,” Petra Schindler-Carter, director for Amazon’s marketplace sales, said in a statement.

Amazon doesn’t actually handle the printing. Rather, it’s done by Mixee Labs, a company specialized in selling plastic 3D printed nicknacks. Products available through the partnership aren’t cheap. A 3D printed bobblehead costs $30 compared with versions made on an assembly line that cost around $12.

Moreover, anyone who wants speedy shipping is out of luck. Orders through Amazon for 3D products can take up to ten business days to fill.

For the rest of the story, please visit Fortune.com.

MONEY Food & Drink

The Market Says This Bag of Potato Chips Is Worth $49

Bag of potato chips
Fuat Kose—Getty Images

Some junk food is going for big bucks on the secondary market. How much would you shell out for your favorite snack?

Lay’s newest potato chip flavors, Bacon Mac & Cheese, Wasabi Ginger, Mango Salsa, and, yes, Cappuccino, hit stores today. These chips, which have already received myriad mixed reviews, are part of the company’s “Do Us a Flavor” contest. The winner will stick around, while the other three will eventually vanish from shelves.

If you can’t immediately track them down in your local store, however, don’t despair—just open a web browser. Last week, even before the chips officially went on sale, they were fairly easy to track down on the secondary market. On Friday, single bags were listed on eBay for a $11 a pop, plus $6 shipping (the suggested retail price is $4.29). Amazon also showed some options, including a four-pack of the Cappuccino chips for $24. And as the snacks become easier to find in retail stores, the rules of supply and demand should kick in, dropping prices.

Dig a little further into this snack food grey market, though, and you find plenty of options that won’t be popping up on shelves any time soon. One optimistic eBay seller lists a $49 bag of Lay’s Chicken & Waffles flavored chips, one of last year’s “Do Us a Flavor” contest runners-up, which has since been discontinued. You’ll also find other snack chip rarities, such as a $40 bag of Doritos Jacked Test Flavor 404, which one review described as tasting like “oniony vinegar” or “dry cat food,” and Pringles Pecan Pie, a seasonal special from the 2013 holidays, listed at $20.50 for two cans.

If chips aren’t your thing, you might be more interested in a $15 pack of Root Beer Float-flavored Oreos (a new variety that’s reportedly beginning to appear in stores), or $15 bottle of Coca-Cola Blak, a coffee-flavored cola put out of its misery way back in 2008. Marvin Nitta, editor of food review blog TheImpulsiveBuy.com, says that when the limited editon Lebron James Mix 6 Sprite soda came out earlier this year, he saw online sellers listing it for “four or five times the regular price.” (Currently, you can pick up a can on eBay for a cool $12.)

Eric Huang, who writes about snacks on his blog, Junkfoodguy.com, says he thinks the secondary snack food market is driven, in part, by companies’ recent attempts to try out more bold and attention-provoking flavors. Wacky flavors make the news, and adventurous eaters want to sample them, even if that means paying a premium. The fact that they’ll eventually vanish only makes them more enticing. In fact, Huang has his own “white whale”: a Doritos flavor called Wild White Nacho. He says he tried the chips once back in 2007, when they were briefly on the market as part of a contest, and “I’ve been searching ever since.”

International snacks are another thing that drive curious eaters to buy pre-owned junk food, says Huang. American foodies are understandably curious about foreign fare like Lay’s Lobster Hot Pot (3 bags for $25 on Amazon) or Canada’s uber-spicy Doritos Roulette (on eBay listed at $21 a bag).

There are some clear downsides to buying secondhand snacks. Between the mark-ups and shipping costs, you’ll pay more than you ever imagined for junk food. Many of the rarest discontinued products are well past their sell-by dates, though some food scientists say we shouldn’t get too worked up about that. There’s also the squashing and crumbling factor: Not surprisingly, many Amazon shoppers complained that their chips were nothing more than florescent orange dust by the time the snacks arrived on their doorsteps. Then there’s the unpredictability factor. Nitta recalls buying some fried chicken-flavor Doritos from a seller in Japan that were confiscated by customs because they contained an ingredient that’s illegal to bring into the country. Plus, he says, “in the back of my head, it makes me feel weird to buy food from some random person on the internet.”

If the groundswell of eaters chasing a product gets large enough, it can occasionally help put the items back on the market. Earlier this July Hostess announced the return of the Chocodile, a chocolate-covered Twinkie that was discontinued in the late 90s. In a statement, the company said the elusive snack had “inspired a black market following,” while NPR reported that the creme-filled sugar bombs have been listed on eBay for as much as $90 a box.

Still haven’t seen any flavor tempting enough to prompt you to buy some gently used junk food? Just wait: The winning submissions to “Do us a flavour,” the Canadian version of the Lay’s contest, will be announced in August.

TIME Companies

You Can Now Buy 3D Printed Bobbleheads on Amazon

Mixee Labs customizable 3D printed bobble heads, one of the products available in Amazon's 3D printing store.
Mixee Labs customizable 3D printed bobble heads, one of the products available in Amazon's 3D printing store. Courtesy of Mixee Labs

In a new marketplace for 3D printable goods that launched on the site Monday

Amazon announced Monday customers can now use the site to send customized 3D printed products, including toys, earrings, and decorative vases.

In the online marketplace’s new “3D printing store,” customers can choose from over 200 products to customize and print on-demand.

“The introduction of our 3D Printed Products store suggests the beginnings of a shift in online retail – that manufacturing can be more nimble to provide an immersive customer experience,” said Petra Schindler-Carter, Director for Amazon Marketplace Sales in a press release.

After selecting the template for the desired product, customers can select color, designs, and other features to tailor it to their exact taste. Amazon is working in partnership with 3D printing companies including Sculpteo, 3DLT, and Mixee labs, to manufacture the new goods, which the site says are priced under $40 but can run for as much as $100.

So far, customers aren’t able to upload their own designs to Amazon, though other companies like Shapeways already offer the service, Tech Crunch reports.

TIME Tech Policy

Meet the Woman Keeping Silicon Valley in Check

Federal Trade Commission Chairwoman Edith Ramirez Cade Martin 2014

Edith Ramirez is probably not the most popular person in Seattle right now. As the chairwoman of the Federal Trade Commission, she’s currently suing two of the city’s biggest tech companies: Amazon, for allegedly making it too easy for kids to rack up in-app purchases on their parents’ Kindles, and T-Mobile, for allegedly cramming unwanted charges into customers’ phone bills. That’s to say nothing of the recent settlements with Snapchat over false marketing and Apple over in-app purchases. It’s all come under the watchful eye of Ramirez, who assumed the chairwoman’s position in March 2013 and has taken a laser focus to the activities of tech companies, particularly in regards to mobile.

The new FTC head talked to TIME about the hidden permissions lurking in terms of service agreements, Facebook’s controversial mood study and whether Americans should ever expect a “right to be forgotten” online. An edited version of the conversation is below.

TIME: How important is the technology sector as a whole for the FTC right now? Is it an area of focus for you personally?

Ramirez: Our fundamental mission is to protect consumers and promote competition and so we are going to be wherever consumers are. The reality is that technology has been playing a critically important role for the agency for a number of years. Because we see consumers really gravitating to mobile devices, it’s crucial that the agency be very much informed about and keenly aware of what’s happening in the mobile sphere.

TIME: What are the biggest challenges or dangerous that consumers can face with the rise of mobile?

Ramirez: You want consumers to be able to partake in all of the terrific innovation we see in the marketplace. One way to assure that is to make sure the products that are out there take into account what’s of concern to consumers—that includes, among other things, taking into account concerns about data security and privacy, and also making sure that some of the basic protections that we’re all used to when we walk into a grocery store or a local convenience store, that we also have those basic protections available to us when we’re engaging in a transaction on our smartphone.

Data security is paramount in my view. The more connected we are, the more information and data that is being gathered by all sorts of different companies. It’s crucial that this personal information that is being collected and being used, that companies take reasonable steps to ensure that data is protected.

TIME: We live in this era now where people sign up for services and they don’t read the fine print. Do you think there’s a base level of privacy or control that Internet companies should be affording their customers?

Ramirez: I do. We realize that consumers aren’t going to be poring over long, confusing privacy policies. Now that we’re in a mobile world, what’s the likelihood that anyone’s going to be scrolling through on a mobile device some lengthy privacy policy? That’s become increasingly unlikely.

Companies need to be thinking about privacy from the get-go, when they first start conceiving of any new product or service. If you’re developing an app that’s a flashlight app, do you really need to have access to my contacts? Do you really need to have access to my geolocation? If they want to access information that goes beyond what one would expect, they ought to be asking for permission to do that.

I think we’ve seen a tremendous improvement, even in the course of the time I’ve been at the agency. We’ve seen companies realize that consumers really do care very deeply about maintaining their information [security] and they want to also exercise greater control. At the same time I think a lot more needs to be done in this area. A lot in this area still continues to take place behind the scenes in a black box. Consumers may not fully appreciate the extent of data-sharing that’s taking place.

TIME: Last month people were upset because Facebook did this experiment where they were altering people’s News Feeds to change their mood in some way. Do you think that experiment was appropriate for them to do?

Ramirez: I can’t really comment on the specifics of what Facebook did, but I think what it does show is again the need for consumers to be in the driver’s seat. They want to know what companies are doing, how they’re using the information that they’re sharing. It just goes to show that consumers don’t want to be in the dark about this. That’s a basic responsibility companies have—they ought to be transparent about what they’re doing, they ought to give consumers an opportunity to have control over how their information is being used, what information is being collected. Simply because [consumers] are receiving a service, and even it happens to be free, that doesn’t mean they don’t want to be in control.

TIME: Does the FTC plan to investigate the Facebook issue formally?

Ramirez: We can’t comment on how investigations we conduct. What I can tell you is these are issues we are concerned about and we are monitoring the marketplace.

TIME: In Europe, the courts recently enshrined a “right to be forgotten,” so people can delete articles about themselves from search results. Do you think that’s something Americans should have the right to for privacy reasons?

Ramirez: Of course we’re operating here in the U.S. under a very different legal regime than folks are in Europe. An expansive “right to be forgotten” is not something that’s likely to pass Constitutional muster here in the United States because there is a First Amendment right to both access to public information and freedom of expression. At the same time, I do understand the need for us to think about controlling our own information. By way of example, I know that consumers want to be able to delete information. If they’re on a particular platform, they will want to be able to be assured that if they close out their account that their information will be deleted. This is exactly an element of an order we have with Facebook. It’s not an expansive right to be forgotten, but there are certain controls and tools that I think U.S. consumers would like to have.

TIME: As we see these tech companies like Google and Amazon getting bigger and bigger, taking up a larger portion of their sectors, do you think there are antitrust issues with these companies as they continue to grow?

Ramirez: With any large company, if they have market power, monopoly power, we would be looking closely at how they use that. We did conduct an investigation relative to Google a couple of years back. In that particular investigation, we opted not to take action.

TIME: A lot of times when FTC settlements come out, people see the dollar figure, and it seems like a slap on the wrist to these companies that are generating billions of dollars in revenue every year. Are the actions you take actual deterrents to stop companies from abusing consumers in various ways?

Ramirez: We do not have general civil penalty authority. We can’t assess a fine when we find a violation of law under our general statute. What we can do is seek to obtain consumer redress or we can, if appropriate, ask a company to disgorge any unlawful gains that resulted from the unlawful conduct.

In any particular case, the amount that you may see, you may think, ‘Well how does that compare to the profits of a company?” But that’s not really the analysis. The analysis on our end is, “Are we successfully recovering money that would compensate consumers for the damage that they have suffered.”

I think our enforcement work is sending important signals to the marketplace. In the privacy arena, Facebook, Google, Twitter [are] under order. It’s sent important signals to them, and I think as a result of the action that we’ve taken, companies are more aware of what their responsibilities are.

TIME: How are you able to strike a balance between this goal of consumer protection and allowing companies to innovate and try new things?

Ramirez: Whether it’s having information about what you’re paying for, whether it’s knowing what information an app might want to have access to when I’m downloading it—all of these things really work side by side with innovation. I don’t think consumers should have to sacrifice their privacy, the security of their information…when they avail themselves of all these terrific products that we see today. In fact I think for companies to flourish, it’s really important that consumers feel they can trust the products that they’re using, that they feel that they know the full extent of what is happening when they download a service. Companies will flourish all the more if they provide basic protections.

MONEY tech stocks

Amazon and Pandora Shares Tumble After Reporting More Losses

Sad Danbo
Luke Baldacchino—Flickr

Amazon.com and Pandora Media learn the hard way that potential profits just won't cut it anymore in this market. Take note, Twitter.

Updated 7/25/14 4:15 pm

Investors sent a loud message to e-commerce and social and streaming media companies on Friday: profit-less potential just won’t cut it anymore.

Nowhere was this clearer than at Amazon.com, which seems to be able to deliver everything these days — tablets, streaming video, even food — with the exception of earnings.

After the company announced a wider-than-expected loss Thursday, the stock fell nearly 10% Friday, helping push the entire market lower at the end of the week.

AMZN Price Chart

AMZN Price data by YCharts

In what sounds like a broken record, the e-commerce giant reported another robust quarter of sales — up an impressive 23% versus the same period a year ago — yet still can’t seem to turn a profit.

As costs rose in the recently ended quarter — as the company invested in new areas such as its recently announced Fire smartphone and a new unlimited e-book rental service — Amazon reported a net loss of 27 cents per share. That was nearly twice the loss that Wall Street analysts had been bracing for.

Even worse, the e-tailer warned investors that the third quarter won’t be much better. Amazon officials forecast that net sales would likely grow between 15% and 26% in the current quarter but that the company would probably suffer an operating loss of between $410 million and $810 million.

For more than a decade, Amazon shares trounced the broad market, as company leaders managed to convince investors not to focus on short-term losses, but rather the long-term potential for this company to dominate retail and consumer electronics.

They tried to do the same on Thursday, pointing to the company’s entry into the smartphone market. “Customers all over the U.S. will begin receiving their new Fire phones — including Firefly, Dynamic Perspective, and one full year of Prime,” said CEO Jeff Bezos, in announcing his company’s results. “We can’t wait to get them in customers’ hands.”

Investors shot back: “We can’t wait until we start seeing some profits in shareholders’ hands.” By Friday afternoon, it was clear that investors have had it with Amazon’s just-you-wait attitude with earnings.

For the year, Amazon shares have lost nearly a fifth of their value.

AMZN Chart

AMZN data by YCharts

Amazon wasn’t the only tech stock that got hit on Friday. Shares of Pandora Media fell more than 10% on Friday on news of another profitless quarter.

The streaming music company reported a loss of 6 cents, which was worse than the 4-cent a share loss that investors were expecting.

The company tried to spin the news in a positive light by stressing its relative success in mobile advertising, a hot topic in tech these days.

“Our better-than-expected second-quarter results demonstrate success and continued business acceleration as a result of our investments in mobile and local advertising,” Pandora’s chairman and CEO Brian McAndrews noted in the company’s press release. “Mobile advertising reached a record 76% of total ad revenue and local grew at 144% year-over-year.”

Wall Street would have none of it.

P Price Chart

P Price data by YCharts

As second-quarter earnings season gets underway, the market’s stance should worry other profit-less tech companies that are set to report their results next week.

On deck for Tuesday is Twitter . The social media company, whose shares have already fallen 39% this year, is expected to report a loss of 29 cents a share when it announces its results next week.

TIME Drones

Space Needle Guests Say Drone Crashed Into Window

Drone Enthusiasts
Similar drone design to that involved in the Space Needle incident. Ryan Lusher—Moment Editorial/Getty Images

There is no evidence to suggest Amazon’s drone delivery program has become sentient and gone rogue

Seattle’s iconic Space Needle looks to be completely undamaged after a small, white quadcopter drone operated by an Amazon employee may have crashed into an observation deck window Tuesday evening, police say.

Witnesses reported seeing an unmanned aerial vehicle buzzing around the Space Needle before “possibly” colliding with the structure, then zipping over to a nearby hotel room, they told police. The Seattle Police Department then contacted the resident of the room, who admitted to piloting the drone but said he merely approached, and did not collide with, the Space Needle.

The Amazon employee showed the police video of his drone flight, none of which suggested the drone actually hit the building. The video has been taken down from YouTube, but a few Vines posted by BuzzFeed have survived:

Commercial use of drones is generally prohibited in the United States while the Federal Aviation Administration works out how to integrate them into the national airspace. Flying drones recreationally, however, is allowed, though certain FAA rules and local laws apply. FAA guidance, for example, says recreational pilots should keep their aircraft below 400 feet above ground level and away from populated areas.

The Space Needle incident does not appear to have had anything to do with Amazon’s in-development drone delivery program.

TIME Earnings

Amazon’s Q2 Earnings Lower Than Expected

Amazon Q2 2014 Earnings Report
Amazon CEO Jeff Bezos presents the company's first smartphone, the Fire Phone, on June 18, 2014 in Seattle, Washington. David Ryder—Getty Images

Pressure is rising for Amazon's new services and products to help the company show profit

Amazon said Thursday that its second quarter financial performance was worse than expected, causing shares to tumble over six percent in after-hours trading.

Amazon reported losing 27 cents per share on revenue of $19.34 billion, while Wall Street had been expecting, on average, a loss of 15 cents per share. Additionally, Amazon’s net loss was $126 million, far greater than the $7 million posted during the same period in 2013.

(More on Money.com: Wall Street Takes Amazon and Pandora Out to the Woodshed)

The company’s net sales, however, rose 23% to $19.34 billion, compared with $15.70 billion in second quarter 2013. Amazon said it expects net sales in the third quarter to reach between $19.7 billion and $21.5 billion. It also expects an operating loss of $410 million to $810 million for next quarter, up significantly from $25 million in 2013, which Amazon attributes to stock-based compensation and amortization of intangible assets.

Investors have long been forgiving of Amazon posting losses or thin profit margins despite its rising revenue, which some insist will be channeled into developing new products that will eventually win back those losses. But Amazon’s shares have fallen by nearly 10 percent this year as some investors grow skeptical of Amazon’s potential long-term growth. Questions remain about how well Amazon’s new services, such as its same-day grocery delivery service, will perform in the future, as Amazon will likely have to work harder to convince stakeholders of its profitability.

Amazon CEO Jeff Bezos said in a statement Thursday that the company continues “working hard on making the Amazon customer experience better and better,” noting recent improvements such as those to its cloud computing service, and its new Fire Phone, which goes on sale in the U.S. Friday.

 

MONEY

Facebook’s Next Battle Is Wrestling Your Credit Card Number from Amazon

Facebook logo with game pieces on top of it
Berliner Verlag/Archiv—AP Images

Advertisers will pay big bucks to get in your Facebook newsfeed. But will you really buy their products?

And they said Facebook couldn’t sell ads. Ha!

In its quarterly earnings report on July 23, the social network posted a blockbuster figure: $2.68 billion from advertising in the second quarter alone, a 67% increase from last year. About 62% of that revenue came from mobile devices.

With numbers like that, Facebook has started breathing down Google’s neck. eMarketer expects Facebook will capture 18.4% of the mobile ad industry this year, with Google holding onto 40% market share.

Facebook is gaining ground in the battle over mobile ads. But the next battle could be on a completely different front, against a completely different player: Amazon. Facebook’s new “buy” button, announced on July 17, will let Facebook users order products simply by clicking a button on a Facebook ad. The feature requires that users give Facebook their credit or debit card information to complete the transaction without ever leaving the social network.

Of course, Facebook has tried e-commerce before. In the past, the social network has asked users to open their wallets for virtual games and gift cards. But as more eyeballs moved to mobile devices, those efforts flopped. Even though advertising revenue has skyrocketed since the company’s IPO, revenue from “payments and other fees” (read: Farmville) has stayed relatively flat.

image

But here’s why the “buy” button is different. Facebook doesn’t plan to sell its own products. It plans to sell enhanced advertising. Facebook’s founders are adamant that the buy button is just a way to “streamline” the process of buying from other companies.

“Commerce is really important, and it’s a growing part of our business,” COO Sheryl Sandberg said during yesterday’s earnings call. “But I don’t think people should confuse that with Facebook selling things directly. The more people discover things from a newsfeed and go on to purchase, the more important we are in driving commerce. That doesn’t mean we’re going to, or have to, sell products.”

“Our main business is advertising,” CEO Mark Zuckerberg added. “To the extent that we do payments, it’s related to that.”

When it comes to the “main business,” Facebook has a clear competitive advantage: its 1.32 billion users worldwide. A good proportion of those people are total addicts. Zuckerberg says that on average, users spend 40 minutes a day on Facebook. Even people who claim to dislike Facebook won’t shut down their accounts.

“We believe hundreds of millions of users face switching costs that keep them from leaving Facebook,” Morningstar analyst Rick Summer wrote in a recent report. “People are unlikely to leave unless they can take their network of friends, content, and applications with them.”

Still, Facebook doesn’t have a good track record when it comes to protecting users’ privacy. One poll found that only 5% of people really trust Facebook with their personal information. Why give Facebook your credit card number and purchase history?

“With anything that Facebook does, there are always questions about how people’s privacy is going to be protected and what sort of data and information is shared,” says Debra Aho Williamson, principal analyst at eMarketer. “With e-commerce there’s a lot of potential for questions because people are exchanging their credit card information, their personal information, making Facebook aware of things they’re actually buying – that’s data Facebook can use for advertising or creating other products down the line.”

In a way, Facebook’s greatest asset – detailed information about your likes, dislikes, and all of your social connections – is also its greatest vulnerability. If Facebook could tell you which products your friends like, maybe you’ll be more likely to buy those products within the social network itself (with just two clicks!). Or maybe your friends will be totally freaked out that you know what they’re buying.

“It’s one thing for me to give Big Brother information about every purchase I make,” says Oded Netzer, associate professor at Columbia Business School. “It’s another thing when Big Brother wants to share it explicitly or implicitly with my friends.”

Meanwhile, Facebook’s competitors are also arming themselves for this next fight. Amazon and Twitter recently teamed up on an initiative that lets you add products to your Amazon cart by replying to certain tweets. And just last week Twitter announced that it planned to buy CardSpring, a company that helps developers incorporate payments systems into their apps.

One other piece of news could spell trouble for Facebook. While mobile ad revenue is way up, impressions are down 25%. That’s because users will only put up with so many ads when they’re scrolling through their newsfeeds on their phones – so Facebook has a relatively limited amount of space to sell. (On desktops, the right-hand rail provides more available ad space.) Over the long-term, Facebook plans to ramp up video ads, monetize Instagram, and test the “buy” button. But the question remains: If users primarily use Facebook to interact with their friends, how much e-commerce will they really tolerate?

“This whole idea of making money from social networks has not worked well,” Netzer says. “More and more companies are finding that people interact with each other not for the purpose of talking about products – they’re just interacting with each other. The products are interrupting this discussion.”

Facebook may be winning the advertising war. But if Facebook’s revenue has skyrocketed on the premise that social networks are the best place for businesses to reach new customers, then the “buy” button may finally put that theory to a test.

MONEY The Economy

WATCH: These 3 Companies Can Raise Prices Without Losing Your Business

Netflix, Amazon, and Chipotle have raised prices without losing the support of their customers or investors on Wall Street.

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