How thoroughly and how radically Google has already transformed the information economy has not been well understood. The merchandise of the information economy is not information; it is attention. These commodities have an inverse relationship. When information is cheap, attention becomes expensive. Attention is what we, the users, give to Google, and our attention is what Google sells—concentrated, focused, and crystallized.
Google’s business is not search but advertising. More than 96 percent of its $29 billion in revenue last year came directly from advertising, and most of the rest came from advertising-related services. Google makes more from advertising than all the nation’s newspapers combined. Siva Vaidhyanathan, a media scholar at the University of Virginia, puts it this way: “We are not Google’s customers: we are its product. We—our fancies, fetishes, predilections, and preferences—are what Google sells to advertisers.””—How Google Dominates Us, by James Gleick