During Mark Zuckerberg’s hearing in front of the U.S. Senate on Tuesday, Sen. Orrin Hatch asked the beleaguered Facebook chief executive, “How do you sustain a business model in which users don’t pay for your service?”
Zuckerberg: “Senator, we run ads.”
As one billionaire social network CEO faces the ire of the nation, if not that of both houses of Congress, another billionaire social network chief executive sees an opportunity to connect people without using an advertising-based model. Vero, a three-year-old social platform, thinks it can capitalize on Facebook’s mistakes. Mainly by making users pay with cold, hard cash for its product.