The fact that facebook is very profitable and growing extremely rapidly proves that it is sustainable. Facebook & Myspace dominatesocial networking. The 3rd and 4th sites have maybe 2% or the total market share. The market is already saturated, while friendster was created before the social networking boom and there was far less competition. This allowed myspace andfacebook to overtake it.
I know a group of young women my age who admitted to spending ON average 15 hours on Myspace and Facebook a week. I spoke with a few younger girls who admit to spending upwards for 40 hours a week. 15 hours is probably the low range of how much time a lot of members spend on there. This equates to 780hours per year. 200,000,000 accounts. Let's say that 40% of the accounts are active. 156,000,000,000 hours lost PER year on myspace. This equates to 266,524 human lifespans lost. This is the greatest distraction in the history of the world.
Notice how they make you use your real name (people have been kicked off for not doing so). And they encourage you to verify your account via Cell Phone. It's fairly easy to traiagulate/track a cell phone position if needed. If I were the CIA and doing warantless searches (yay freedom) this is the first place I would check out!! too easy. The secret police could only have DREAMED of having access to this kind of data base. Now, it's a reality. We can only hope that the lads who run it have more loyalty to the USA than to their home country...
I say its worth 100 billion but YOUR dollar isnt worth 2 cents. Thats what its all about. Infinite value for all assets, no value for the currency.
Amen Facebook is about 100 times better than Myspace... myspace was bought for $580M which means Facebook is worth $580 Billion! Simple Valuations guys!... Foreal though, over these past few months I'm unhappy with what facebook has done with their site. I don't like how its not exclusively college kids anymore... I dont like receiving freind requests from kids I know from high school. They've also added all sorts of lame applications and some mini-feed (stalker-feed) and it really seems like they're going the way of MySpace (which most that I know have left). If they can calm themselves and chill with adding stupid shit I'll be sticking with facebook. They really gotta keep this motto in mind though otherwise people will flee like they did with myspace - IF IT AINT BROKE, DONT FIX IT!
Just think, these social networking sites offer individuals the opportunity to voluntaringly hand over all contact informations, give pictures of everywhere they've been, AND have a list of their friends. Team this with debit cards and coming soon the RFID chip and you've got complete, total, documented control, with no fuss. Amazing.