Tuesday, July 12, 2011

#Facebook, you are not worth it

People are waiting for an #IPO and you are being hyped as worth more then many industries. Many people are part of your statistics because you are considered must have.

My problem with you; the lack of utility. There is not much in your offerings that makes me actually log in, update my status and do whatever. Oh and yes I connect regularly to Facebook as there are people who want to be my friends. So yes, I am part of your wonderful statistics that show the gullible that the amount considered for you IPO is actually an investment.

The best example of how fickle your position is is best illustrated by the previous king of social networking, MySpace. It was sold for mega dollars to a suspect company and it was sold on for a pittance because it is hard to manage an asset like MySpace and make a profit.


With the advent of Google+ you have another headache. A serious competitor that you cannot buy with the ridiculous amount of cash you may receive from your IPO.  Google+ already has a superior approach compared to yours. It integrates the things I already know, the things that make me productive and it is therefore not the total waste of time you offer.
Thanks,
        GerardM


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