Facebook happens to have the best advertising product that ever existed. When I click on your company's group's ad's like button, all my friends see it. No other advertising has ever parodied word of mouth advertising so successfully, and they've hardly begun to take advantage of this fact.<p>In addition, Facebook has reached the mindshare of the masses in a way that no other internet company has. No other internet company has EVER had my parents and aunts and uncles talking for hours about an internet company though the holidays. It brought talking about the internet in public to the masses.<p>Facebook will have a 12 figure valuation by this time next year, and Google will lose its current level of dominance in the online ads sector. I'll put my money where my mouth is if someone want's to propose a safe way to go about doing it...
If you aren't an investor or otherwise involved in one of the company's with a "bullshit fantasy" valuation, how does the "bullshit fantasy" valuation hurt you at all? The article doesn't seem to answer this question.<p>If anything I would think that the existence of a "bullshit fantasy" valuation marks a great territory for someone to come in and innovate and steal the market, like Google did in the late 90s.
Hmm, maybe that's what Diaspora should have been building - an open protocol for exchanging users' 'social' data, meaning you could migrate your FaceFriend account straight onto MyBook without setting anything up, or you could add friends from completely different services into your feed just so long as the same SOA was maintained across companies.<p>Facebook could do this themselves to stop anyone else ever getting a large share of the market (destroy the barriers for entry).
Remember when Myspace was worth billions?<p>How quickly the next hot thing comes crashing down: <a href="http://thenextweb.com/socialmedia/2011/01/10/myspace-to-lay-off-550-to-600-employees-tomorrow/" rel="nofollow">http://thenextweb.com/socialmedia/2011/01/10/myspace-to-lay-...</a>