Make No Mistake, Facebook’s Lifeline Is Advertising

This essay originally appeared in Data Sheet, Fortune's daily tech newsletter. Sign up here.

This week the entire media industry is drinking ros? on the French Riviera and calling it business. Startup CEOs have described the annual Cannes Lions festival to me as "a cooler South by Southwest--with none of the riffraff." Not being there myself, I can only assume the event is abuzz over tronc (lowercase), the Internet satirist formerly known as Tribune Publishing, which yesterday provided the...

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