I have to say I just don’t get it. Whilst Facebook is the current “in” thing, I just find it a total waste of time. Admittedly, it is a great way to catch up with people from your past, but once that link is made, I don’t want to send virtual hugs and gifts or play with any of the other myriad of time wasting toys. Call me a killjoy if you want, but I have much better things to do with my time.
With current estimated market valuations topping the $15bn mark, this is one instance where I think there is a quick buck to be made, but an even greater loss waiting to greet potential investors. With rumours of Google wanting to muscle in on the social network space, it will only take a modicum of success to frighten the willies out of speculative Facebook investors. Google has already tried once to enter this space with their homegrown Orkut service, which is apparently really popular in Brasil, but I’ve always had the feeling that they’ve never quite put their weight behind it. If that were to change with a second prong of attack, it could result in an all out war.
Even more interesting is the recent investment by Microsoft, which apparently Google was also looking to tie up. Although Microsoft have bought themselves a paltry piece of the pie, expect Facebook to get devoured should the competition heat up. It will be a bloody battle, with the only winner being the original investors of Facebook, who will be laughing all the way to the bank.