Every morning there are three things I do: read my e-mail, scan the news, and check Facebook. Through my e-mail I get newsletters talking about the collapse of Facebook, in the newspaper I read about Facebook's stock price dropping, and on Facebook I see shared stories about major Facebook investors dumping shares.
If Facebook was human, you'd think he was on life support and someone needs to consider pulling the plug to do a mercy kill.
It is a "kick them while they're down" sentiment. Everyone bought into the pre-IPO hype, and certainly there are people who feel glee that Facebook stock is tanking or burned about trumpeting the Facebook benefits and want to hit back the only way they can--online.
All this talk about Facebook failing is rubbish. Why? Because it's Facebook…what the heck else are you going to use? For those of you that say, "Nothing! I don't want to share my life and data online", that's fine--but accept that you're in the minority.
For better or worse, a significant part of pop culture and communication is happening on social media platforms such as these:
Path -- Supposedly the platform with which you are sharing with the people you most care about. Strip away the pretty looks of Path and it's a dumbed-down Facebook whose only way of making money is through selling Instagram-like filters for photos. Want a Path experience on Facebook? Simple, create a new Facebook account and restrict yourself to 50 friends. Saves you the effort of enabling Path's "share to Facebook" option.
Google+ -- It has a beautiful mobile app.
Friendster -- Bought by a company in Malaysia and transformed into a social games site.
Orkut -- Não posso falar Português
MySpace -- connect with bands…what? Whatever, I’ll just go to the band's Facebook page.
Pair -- because co-dependent relationships can now take a virtual twist!
LinkedIn -- I need one place on the Internet I keep free from pictures of cats and beer. This is it.
About.me -- Recently added social connections, but…this site is supposed to be all About.me!!!
Has there ever been any company that has collected so much data about its users? Preferences, habits, interests, connections, etc,--Facebook has it all! And it is working furiously on monetizing its information.
As a small business owner tinkering around with Internet ads, Facebook ads are by far the most useful, and I’m sure the majority of small businesses haven't even started paying for ads yet. So there is massive upside with getting businesses on board as well as creating new money-making features for existing ad-purchasers to utilize.
As for mobile, Facebook hasn't even begun monetizing its mobile efforts. Obviously they will.
Yes, Facebook stock has tanked, but face reality--Facebook isn't going anywhere and it's going to get better.
Unless they keep going with the Internet gambling thing…