I’m leaving because a Forbes writer asked his son’s best friend Todd if Facebook was still cool and the friend said no, and plus none of HIS friends think so either, even Leila who used to love it, and this journalism made me reconsider the long-term viability of the company.
– Blake Ross, former Director of Product at Facebook.
Ellis Hamburger, reporting for The Verge:
Facebook admitted in its annual 10-K report that it might be losing “younger users” to “other products and services similar to, or as a substitute for, Facebook.”
Exactly why I’ve given FB a hard time on this blog – they’re boring; they’re the Microsoft of Social. Dull and uninspiring but totally pervasive.
Facebook won’t “go away” like MySpace has; it’s just too big at over 1 billion users. It’s going to serve as the Yellow Pages of the Internet, and it will be boring and ad-riddled with minimal engagement in less than 5 years. Mark my words.
What comes next? I don’t know, but I hope it’s essentially what Facebook was when it was just for College Kids, and it costs $1/month for complete and utter privacy plus no ads.
1 billion users paying $1/month is a healthy revenue. I’ve always thought FB should do this, but it won’t.
I hope FB is superceded. I think Social is the most cyclical and behavioural-driven sector in Tech. Long live the next wave.