@chandr125 Apple runs iTunes at a profit — it’s just small by Apple 40% gross margins standards. But it is definitely a money-maker.

Apple fixed its iBooks Author EULA so that it does not claim exclusive distribution for books published in formats other than .ibooks.

Ads vs transactions: FB’s 2011 revenue: $3.7B on 845M users. APPL’s 2011 iTunes store revenue (no hardware sales): $6.4B on 224M users. #yg