This Facebook Thing.

[mongers]

So now that the IPO has happened and it's valued at around $110 billion, where next for it, both as a company, financial sensation and a internet phenomenon ?

What role in peoples lives do you see it performing in 5 years time ?

Is it a one-off event or the harbinger of a 2nd internet boom ?


Personally I've had enough of social media, the negatives seem to outweigh the positives. I think the new low for me today on facebook was when someone I know posted this in response to some item I posted about the Eurozone crisis. "The Tories putting the N into Cuts"
It's not really that clever is it, especially if people are repeatedly posting it, often in the most tangential of subjects. Maybe social media brings out more of the stupid in many of us, that's certainly my own fear. 

So I've decided to cancel my account, today being an appropriate day and henceforth limit my social media involvement to here, a tech website and an occasional bout of spamming my twitter account. 

[Richard Hakluyt]

I think one can have a lot of fun with the social media, but it is a pale imitation of a face-to-face meeting.

[mongers]

I think one can have a lot of fun with the social media, but it is a pale imitation of a face-to-face meeting.

This. 

edit:

Which begs the question are Languish 'meets' a thing of the past ?

Or are we waiting for something special like CdM making it over to Blighty ?

[Jacob]

The Facebook IPO is probably a one-off or once in a decade event.

Facebook social networking or something similar is here to stay, at least until something new comes to replace it. It's too useful and too integrated into daily life for too many people to just fall to the wayside. That said, there's probably a bit of a bubble going on in social networking stuff. Personally, I expect Facebook or something equivalent to be around and function.

[MadImmortalMan]

Most people I know are cutting back on their FB usage. Anecdotal, yes.

Mostly I think the stories about privacy concerns and employers looking at it has some impact.

[Darth Wagtaros]

If I'm not mistaken Facebook doesn't release info about the actual ad results, as in how many referrals are made to companies that use them.  I know a large chunk of the planet accesses Facebook, but given that its profitability isn't entirely known just how can such a high figure be given?

He should sell it, sell it now before something else comes out and usurps its position.

[Habsburg]

$38.00 purchase price and after it's first day of trading, closes at $38.23.

Given the level of hype, I'd say a bust debut.
Longer term we will see.

I haven't been on FB in months.  I like Mongers idea to close my account tonight.  Really don't like the platform.

[The Larch]

FB or it's next evolution is here to stay. You are all a bunch of Luddites.

[CountDeMoney]

I just don't see how it can remain a growing cash cow over the long term.  I mean, what's its product?  Friendship?

Advertising?  I saw a poll this morning on one of the cable talking heads shows; only 17% of Facebook users actually utilize the banner ads and links for products.  That's not enough.  And if they try to push more adverts on people, people will tune out;  they want to see each others' retarded kids' pics, not links to Amazon.

[Habsburg]

I just don't see how it can remain a growing cash cow over the long term.  I mean, what's its product?  Friendship?

Advertising?  I saw a poll this morning on one of the cable talking heads shows; only 17% of Facebook users actually utilize the banner ads and links for products.  That's not enough.  And if they try to push more adverts on people, people will tune out;  they want to see each others' retarded kids' pics, not links to Amazon.

See that's it.  CNBC was reporting FB had a $5 per member ad income, very very low revenue model.  I sure they will come up with something at one of the all night hack-fests.

[Maximus]

I just don't see how it can remain a growing cash cow over the long term.  I mean, what's its product?  Friendship?

Advertising?  I saw a poll this morning on one of the cable talking heads shows; only 17% of Facebook users actually utilize the banner ads and links for products.  That's not enough.  And if they try to push more adverts on people, people will tune out;  they want to see each others' retarded kids' pics, not links to Amazon.

Advertising, yes, and Facebook bucks. Online advertising is huge money. 96% of google's $38B in revenue last year was from ads.

[CountDeMoney]

Thing is, people use Google very heavily to assist them in shopping online, so there is a substantial payoff in advertising.
People don't use Facebook to shop.  And they're not going to want to.

[merithyn]

Advertising, yes, and Facebook bucks. Online advertising is huge money. 96% of google's $38B in revenue last year was from ads.

I was under the impression that the real value of Facebook was in the information that is passed on to the advertisers rather than the actual advertising itself. You of all people should appreciate the value in that kind of information.

[Maximus]

I find it hard to believe too, but there are people who pay for those crappy games and other apps on Facebook.

[Admiral Yi]

How far are you two sitting apart from each other while typing messages back and forth?