Word: facebooked
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Dates: during 2000-2009
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...business of having online sites with content created by amateurs to be viewed by other amateurs never had a reasonable chance of making money. The fact that at one point Facebook had a $15 billion valuation, that Rupert Murdoch's News Corp (NWS) bought MySpace, and that Google (GOOG) bought YouTube only proves the "greater fool" theory...
...Because Facebook and MySpace are so pervasive and such a significant part of online culture, the press is endlessly fascinated by what goes on at the companies. Word got out that Facebook was raising money. Then it fired its chief financial officer. Analysts started to speculate that the company was low on cash. Facebook, of course, said that no such thing was true. (Read "25 Things I Didn't Want to Know About...
...News Corp. Wall St. thought Murdoch was a genius to buy it. Last year, News Corp had to admit that MySpace would not hit its revenue targets. That is usually not the hallmark of a property that is going to take over the Internet. Analysts believe that MySpace rival Facebook had revenue of $265 million last year. That is astonishingly low for a company that had 57 million unique visitors in the U.S. last month. And, Facebook also has a very large international user base. (Read: "MySpace Launches a Free-Music Revolution...
...post the scores from the local high school football team. They are not a place where an advertiser can focus on a single group with a message aimed at those people, because no one knows exactly who those people are. For a company trying to sell products or services, Facebook is mayhem in a PC. What the advertiser wants is traditional, orderly content...
...Become a fan of TIME on Facebook...