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Horace's numbers do not include revenue generated by in-app advertising, third-party services (rdio subscription), non-apple in-app-like purchases (think of the Amazon store app), and the growth in the mobile web.

The rapid growth of mobile devices spurred by the iPhone/iPad has generated far more value for developers than $12/phone suggests.

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Yeah, this seems similar to complaining that Microsoft makes so much money on a PC, but Google doesn't make any money because no one directly pays Google through a Microsoft-owned app store.

Haven't there been something like on the order of 200million iOs devices sold? $2.4 billion to app developers in total doesn't seem so bad. Once you add in Android and the other platforms, that's a fairly big sector I'd say.

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