Registered: Oct 2007
06-09-12 04:05 PM
Quote from subban:
Myspace was bought by ruppert murdoch's (a protestant though what does it really matter what the buyer's religion is) fox group for a 1 billion dollars and then four years later he sold it for 50 million dollars. What blunder he made...you never know with these social networks they can have their run and then a new and better social network 3.0 comes out and everyone like sheep go herding to that site and rarely vist the old site.
You have no idea how difficult it is to establish a new social site like facebook, once you got 30%+ users switched over then yes the snowball effect takes over, but to get the initial 30% to switch is very difficult. The barrier to entry is extremely high for this space, not so much to create the site but get people to use it.
In regards to myspace, i dont know if you used it, but it was absolutely shit, those 3rd grade webpages they have with the awful mind numbing backgrounds.
The chance of facebook losing out to another competitor is slim, the real question is when (if ever) will they find a consistent way to profit from their users like google did. Expecting good things at wwdc on the rumored ios + facebook integration.
note: i am long 600x at $26.77 in my ira, long term position.