The confusion here, the basic mistake that Lanier is making and that Naughton is endorsing is to believe that economic value is the cash. And it just ain’t. If, for some unknown reason, I desire to have Facebitch and I get Facebitch then I have satisfied one of my desires. However loopy that desire is, I am thus richer. I have gained economic value from that part of the transaction. And if what I have to give up, that information, is worth less to me than what I receive, then I am richer by the trade.
What really annoys here is that the hippies like Lanier have been telling us for decades that it’s not all about the money, it’s about being human, what humans want and desire. So, when they analyse (to be polite about what they’re doing) the tech industry, why the bloody hell do they insist on talking only about the money and not on the satisfaction of human sodding wants and desires?