Lots of users isn’t cool. You know what’s cool? Profits.
Facebook announced earnings last night, and as of this morning its stock is crashing faster than a Kristen Stewart romance.
It’s a bad day for Facebook shareholders, but for those of us who’ve been warning friends and relatives about its dangers it’s a day of vindication. The social media bubble has popped, and I hope the crash gets people to start asking themselves questions like who the Facebook customer is (advertisers), what their product is (you, if you’re on Facebook), and what will happen with your content when the heat is really on Facebook to generate profits (baby pictures sold to child molesters?).
Here’s a thing my father taught me that I wish I had listened to more carefully: when the heat is on, people do strange things. When the VC community starts to realize the profits aren’t materializing in their social media plays, they’ll get a lot more aggressive fast about what they do with your content.
Dave Whiner is leading a great discussion about this with some VCs.
{ 5 comments… read them below or add one }
What does this have to do with Staffing?
Like or Dislike:
2 
1
Staffing intersects human and organizational life like no other industry. It creates hope for the marginalized, prosperity for those seeking more, and success for the organizations it serves. Our coverage of it here must do the same.
That said, what staffing topics would you like to hear more about?
Like or Dislike:
3 
0
Tim, what this has to do with staffing, is simple. Staffing and recruiting firms use Social Networks, such as Facebook, as a means to obtain talent. It’s that simple.
Well-loved. Like or Dislike:
7 
0
Facebook is like the popular kid/group in high school. WHile it may be “cool” to have a lot of followers, the truth is that when they get out into the real world they usually have dead-end jobs and make no money!
Like or Dislike:
1 
2
Hey everybody, I hate the steaming turd that is timeline and have declared September 12th ” Quit facebook Day”.
Join me or don’t but I am closing my account on the 12th.
As DEVO would say it’s my FREEDOM OF CHOICE. Smell ya later.
Like or Dislike:
0 
0