Pareto's Law

1) What is Pareto's Law? Sum it up in a paragraph.
Pareto's law is the 80/20 rule

2) What other industries or examples can you apply the 80/20 rule to?

• 80% of the media is owned by 20% of the institutions 
• 80% of a company's profits come from 20% of its customers
• 80% of a company's complaints come from 20% of its customers
• 80% of a company's profits come from 20% of the time its staff spend
• 80% of a company's sales come from 20% of its products
• 80% of a company's sales are made by 20% of its sales staff

3) List three arguments in FAVOUR of Pareto's Law applying to the internet:
Microsoft owns Hotmail and Skype
Google owns Gmail, Android, YouTube, Blogger
75% of users volume is from 5% of the top sites. 

4) List three arguments AGAINST Pareto's Law applying to the internet:
Wikipedia - user generated information - not reliable information
Twitter - don't own what is produced, there can be many rumours about a certain topic. 
Tumblr - we post images up, not always true can just copy it from somewhere else

Finally, answer the following question:
5) Even if Pareto's Law applies to internet ownership, does it still apply to the content we read online?