And the markets close with Facebook falling… Flat.
I’m not going to get into the whole business side of things with Facebook, there’s plenty of other blogs posting about that. But what I’m really curious about is the draw? I mean, Facebook is certainly an online property that has skyrocketed to fame and as of this posting, is worth more than McDonalds!
It’s estimated that of the 800 million users, each person spends around 20 minutes a day on Facebook. Snooping on their friends, spying on classmates of years gone by…
But are we looking at another MySpace here? In 5 years, will some pop star (ummm – Justin Timberlake?) be trying to bring it back out from failure status? Sure, there’s a big difference between Facebook and MySpace, but people started to get really tired of all the Geocities circa 1999 looking MySpace pages and moved onto other things. With Facebook now introducing the much hated “Timeline” is a similar fate in store for Facebook?
And no doubt, now that Facebook is public, you can expect that there will be more attempts to generate revenue. More ads, more expectations, more… noise (as if there wasn’t enough already).
I believe that there’s a Facebook killer. I’ll post about that in the next couple days, but the ingredients are all there for a mass extinction.