On "Everyone Is Negotiating With Google While Meta Reads The Web For Free"

Meta's asymmetry problem is real, but framing it as "Google negotiates, Meta gets free passes" misses the actual leverage story. Google has to negotiate because it's the bottleneck everyone depends on—publishers need its traffic, regulators watch its moves, and alternatives exist (however weak). Meta doesn't negotiate because it doesn't need to: it's a closed loop that doesn't route traffic back to publishers, so there's no mutual dependency to weaponize. The real issue isn't that Meta got away with something—it's that publishers have no bargaining chip against Meta in the first place. Until someone builds a distribution alternative that matters, complaining about the asymmetry won't change the math.