Trying to understand Facebook

By | October 9, 2007

I’ve been hearing a lot about Facebook, but I still don’t know what’s the fuss. So far. I know of its reputed price tag of 10 billion up, which sounds like overkill, making even MySpace or YouTube seem very puny in comparison. Any sale of Facebook for billions would instantly “jack up” prices of websites all across the Web. Just like any landmark court ruling. Good for sellers, bad for buyers. That’s all I can see.

I’ve never joined Facebook before, but I did – recently.

Just to see what the fuss was about. I’ve got a bunch of questions which I’m trying to find answers to.

  • Why is Facebook so talked about? Why the 10-15 billion dollar price tag?
  • Is there anything so special on Facebook that I can’t do elsewhere?

Now, a question being asked a lot of times is…

  • How do you make money on Facebook?

If those sleazy looking ads (I saw a lot of these the last time around) are a reflection of desperation, then no thanks. Back in 2006, when competition was less severe, those Facebook Flyers seemed like a “complete waste,” even then. Hmmm, make sense?

Develop a hot Facebook application, and you’re set…

facebook-developers-platform.jpg No? According to this article, no one really knows. Yet.

Wait a minute, I thought Facebook has been around for some years already! Why is there still a lack of knowledge on this score?

Last month, Paul had this to say about why he doesn’t use Facebook so much anymore. Too many apps, apparently.

I think forums, Orkut, Flickr, various blogs, YouTube, RSS readers, chatrooms, and good old email are hard to replace in one centralized place, if indeed Facebook is trying to morph into this. In my opinion, a major drawback of having all your data in one place, is it may then expose your data to intrusion and privacy concerns to anyone with access rights. Something to bear in mind.

In the meantime, I am (still) trying to figure Facebook out.

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