James Altucher writes:
Only the headlines say Facebook has an uncertain future. The headlines also said Fukishama radiation was going to hit San Francisco within days of the tsunami. The headlines also said Avian Flu was going to wipe out the world, or at least be a major epidemic? Well, where is Avian Flu?
And where are the apologies? How come the people who write the headlines never apologize when they are wrong? Thousands of people in San Francisco and the rest of Japan were scared to death because of the headlines created after the tsunami? Where are the apologies to those people? Where is Swine Flu? Where are the weapons of mass destruction?
Ok, and now people are saying a company with a billion addicted users that is also the website that people spend the most time on (compared with a billion other websites) is “teetering” on self-destruction.
I’ll tell you from my perspective. Not only do I spend a lot of time on Facebook but I advertise on Facebook and I am an advisor or investor in several social media agencies that focus on Facebook and I was also an investor in the largest social media agency.
Facebook is an enormous success and is going to continue to be. I am seeing them unveil new sources of revenue on a weekly basis. Do you notice the ad that is now there on the login page? It wasn’t there last week. Or the fact that brand pages with over 100,000 fans can now promote specific posts. That’s about a month old.
Read the rest here.
People said the same thing about MySpace, and then the fad was over.
ReplyDeleteFacebook doesn't offer anything unique technologically. And they have a bad reputation, especially regarding privacy.
Someone might want to tell Altucher that this company discovered that 80% of their facebook ad clicks were coming from bots:
http://cryptogon.com/?p=30595
More funny business:
http://www.bottree.com/topics/blog/funny-facebook-figures/
This is the exact reason i log on there every 3 months to delete all invites and block all who invite me to nonsense .... yes i use ad-block to block all adds on soc-media sites so have not seen any new ads ....
ReplyDeleteleave FB to the proles to get raped of there virtual currency in the lack of real currency ... also keeps them entertained and away from the reality of the situation ...
Long live facebook ....
"I advertise on Facebook and I am an advisor or investor..."
ReplyDelete"Facebook is an enormous success and is going to continue to be."
Proof that dumb money will listen to anyone. $19 and free falling. FB SuCks ass!
"Do you notice the ad that is now there on the login page?"
ReplyDeleteRhetorical, or not, the fact that the existence of this new ad has to be pointed out is evidence of its failure. This is a microcosm of the overall failure of the business model. Not too mention they still do not have a strategy for monetizing mobile users.
It's funny to see that he is an investor, therefore it's Hugh success.
ReplyDeleteI like Altucher but he was part of the pump in this thing and now is trying to abscond himself of the dump...
ReplyDeletehttp://blogs.wsj.com/financial-adviser/2011/01/05/why-facebook-is-worth-50-billion/
I could generate a lot of revenue too if I sold $1 for $.99.
ReplyDeleteAltucher is wrong here.
FB keeps poor unemployed people from realizing their slavery and economic destitution courtesy of the STATE. They log on, post personal information, post pics of family and friends, chat with other slaves and create open ended profiles of themselves so the STATE can steal all their info and sell it to major corporations. If you need to use FB to have friends or a social life. You are a loser. FB is a STATE tool to harvest your thoughts and ideas. Stop using it.
ReplyDeleteAltucher lost his shirt in the first tech bubble, so this is entirely appropriate.
ReplyDelete