OMFG TECH

Thomas Baldwin:

I am officially going on the record as the first individual to break this news.

Well, I hope you don’t have to eat your hat, good sir.

So Copycat Co. Inc. is going to raise some public money? Good for them. I imagine there’s only so far you can take ripping off other people’s business models.

Venture capitalists and private equity firms are killing the IPO. When they make large investments in fast-growing growing companies at more than $1 billion valuations, they’re effectively doing what the IPO market once did. And in so doing, they’re harvesting explosive growth that used to accrue to public market investors.

A thought-provoking read. I’m not sure I agree entirely; this isn’t just about companies staying private starving you and I of the benefits of wealth creation - public markets are a different beast: demanding and often short-termist, they can be at loggerheads with a tech company’s aims.

From May 6, but well worth reading again in light of today’s impending collective Tech World and Financial World orgasm. An excellent commentary on the rise of Zuckerberg into the seemingly great CEO he is today. A neat excerpt:

One of Steve Jobs’s famous recruiting techniques was to take potential hires on long walks around Palo Alto while sharing his vision for Apple. A Zuckerberg confidant says he’s adopted this tactic and done his idol one better. Near Facebook’s old headquarters in Palo Alto is a trail winding up into the mountains. Zuckerberg led recruits up this trail, the source says, and learned to time his pitch so the full “aha” would hit right as the hike culminates in a breathtaking view.

The commentary on the “move fast and break things” philosophy is a great reminder of Facebook’s approach to products and hey, maybe that’s what they’ve done to the News Feed right now. Here’s to hoping they keep moving fast and fix it!

One thing to note, however: Zuckerberg != Jobs. Ever.

On the cusp of the IPO.

Facebook launched in 2004. Today, it has more users than the entire Internet had in 2004.

Gallaga:

Despite ongoing privacy concerns and rumblings of a backlash, it would take something drastic to make me leave Facebook at this point.

I know that it recently looks like I’ve been truly hating on Facebook. I should put things into perspective: I love Facebook, I’m just deeply unhappy with how elements of the site are functioning right now - particularly News Feed.

I post lots of random thoughts and news links on Twitter, share photos of my wanderings on Instagram and still check in on the increasingly hollow Google+ on a daily basis. But everything I post to those services also ends up on Facebook because it’s the platform that feels the most robust and future-proof.

I don’t think Facebook is going away any time soon. I also think it is shockingly easy to forget just how ubiquitous it is and just how amazing what it has done for the Internet is. As such, I think this article makes a worthwhile read, and I’m thrilled for Facebook that it’s taking itself public right now. Not only is this a very important IPO (outside of the Tech world as well as inside of it), but it is also well timed and well thought out. I praise Zuckerberg for his skills as CEO.

What I do think, however, is that Facebook need to seriously look at their News Feed algorithm - they used to tweak it all the time based on what users were engaging with most, but it seems like right now they are far too focused on figuring out how to place ads into it rather than how to make it relevant and engaging. As such, they have shifted towards TELLING users what they should be engaging with as opposed to FITTING the site to suit its users’ behaviour. That’s not good.

I don’t doubt that they’ll fix it, and I don’t doubt that Facebook can and will surprise me, but as of right now they frustrate me. What was amazing has become tedious. The rest of 2012 should prove very interesting for Facebook, particularly their plans for Mobile and Facebook Credits (though I was unimpressed at their introduction of YAAS - Yet Another App Store).

Raice:

It isn’t yet clear whether Timeline is resonating with users as the company prepares this week for its initial public offering. Many users have complained about the new format. But in contrast with other product launches—some of which inspired protests—the anger is more muted.

Facebook user Jeremy Johnson complains Timeline cluttered up the website and makes it harder to use. “Facebook did a good job in preparing users for Timeline, but I believe they did a horrible job in developing it,” the 27-year-old said.

The News Feed is a spam hose of irrelevant, banner ad and meme nonsense that has nothing to do with your friends and your profile is an unusable mess. The most social website in the world is becoming increasingly anti-social.