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The revenue potential of the NYT is well known and has been steadily declining, the potential for the Instagram is largely unknown but it is known that the internet space is rapidly expanding.

Instagram like the NYT is a business and as such is usually bought or sold with regard to it's potential to generate income, rather than it's social impact.

The liabilities for Instagram are 12 people's salary and a few servers, the liabilities involved in the NYT are simply astounding, reporters salaries, print shop salaries, marketing salaries, buildings, etc.

Instagram has people pay for the privilege of giving them content where as the NYT must pay others for their content, that difference alone is very important.

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