Today’s TOI: Facebook net worth valued around $50 billion; Total number of active users above 500 million. What is this company up to! Such a phenomenal growth in so less time. Rest of the statistics is also simply miraculous, but why do people spend so much time on Facebook?
After a lot of thinking I came up with a weird conclusion, but I am kind of sure that, this is one of the strong reasons for people end up being on facebook. There are so many formulas to make money but there is no formula to fame. Facebook give us that small platform with an unimaginable reach; you can self publish yourself in whatever way you want. Isn’t it true that we all want to see our self on Page 3, someday? We all want to be famous. Facebook gives us this freedom at a very low cost, a parallel example I can give is our television, cheapest way of entertainment – you can view entire globe sitting in your drawing room.
Facebook has totally lived up to its name, I assume, that 50% of its users login daily just to see new picture updates. They are interested in knowing what is happening in others life. Flip side is 80% of the facebook projection is not 100% true. Anyways, who cares about it, its all so much of fun?
Online social networking era started by MySpace and Orkut, and now being carried forward by Facebook. Difference Facebook has made is today Dad & Mom, Uncle & Aunt, teachers are your friends. You come to know about your close friend’s real status on FB status update. The medium is so interactive and fast that most of the bloggers have moved to FB as they get instant attention to their one-liners and breaking write-ups. People who use to spend hours reading books after work are now busy reading others status and comments. I recently, read an online article - A 20year old employee in Canada
And it all started with - In 2003, Harvard student Mark Zuckerberg created Facemash, where he placed photos of undergraduates side by side so viewers could rank which one was “hotter.” Today, it has changed the way people live; in-fact it’s a life style, it is oxygen for millions of people. I’m afraid we will live our lives through Facebook, for Facebook & with Facebook.
Last but not the least Mark Zuckerberg has become world's youngest billionaire (net worth $1.5 billion) and we an integral part of the 500 million active users.
My few words
ReplyDeleteIt's a revolution but any revolution lasts till the time another revolution happens in the same space.
People like variety/new things, you never know something better comes up in future and then FB may fade into history.
I would say what ever you have said is very true but you never know if some new site comes in tomorrow... facebook can actually become a history as people prefer change and variety...
ReplyDeleteI am now completelt detaching myself from FB, it is kind off addictive, especially the games..and trust me it is getting even sickening to read or come across what certain someone is doing or if they are going somewhere or whatever... whether this era lasts forever or for some time..it is certainly ending in my life! :)
ReplyDeletetrue that everyone wants a bit of attention in their lives, and facebook has lived to it....but d problem comes when your boss/mum/dad joins facebook and and sends you friend request... everyday you will have to go through question and answer round. moreover yeah i agree with Ankit, every product has a life cycle.....now facebook is at it's maturity stage, who knows watzz next??.....i think seeing facebook's popularity even google started something called "google buzz".....don't know what happened to that??
ReplyDeleteWell as per the current scenario its just the facebook which is doing wonders. I don't see any other competitor in next 4-5 yrs down the line, which could actually make or break the trend. Facebook is not all about a networking site, which provides a limited options. Think about zynga...It was facebook which has made them a billion dollar company :) Nice article saurabh, its a viable business option, i hope you understand what i meant :)
ReplyDeletewell said. I guess, i cannot agree more with the fame part, people are on face book because it makes them feel important and the way they want.
ReplyDeletei also think, Facebook owes a lottttttt to Zynga! seriously, i am on FB for the games. you have got to give it to them :)
But what do you think is the future for Facebook?
Very true, i totally agree with your point that everyone in this world seek a little attention and what could be better than FB... great going, let your blogs keep coming... :)
ReplyDeleteAamir
You are right, Saurabh. Facebook filled a gaping hole by providing a medium of self glorification that others could not. We all like it when someone comments on our statuses or, when someone likes our photos. Social networking has managed to diminish the line between real world and virtual world and it is here to stay.
ReplyDeleteMost of what you've written is true Saurabh. Nice article. Please checkout the film "Social Networking", its about the makers of facebook.
ReplyDeleteI was one of the guys who joined FB during its very initial stages when all my friends were busy orkutting and they refused to make the transition. Those social games with the few(15-20) friends really hooked me on to it. But soon-after I lost interest and slowly all my others friends finally made it here. Now they are hyper-active whereas I don't post often. I find a lot of hypocritical and attention seeking updates on it everyday. I too feel its a passing phase unless and until something unique and extraordinary can happen though i don't know what it should be. Mark will definitely be remembered as the creator of a revolution, but whats next..?? Lets wait and watch.
ReplyDeleteThe public have an insatiable curiosity to know everything, except what is worth knowing. This point where the social networking making money.
ReplyDeletetrue... Its the 'need for consent' and 'sense of achievement' that's driving social media. Achievement part was observed in Role-Playing Games. In RPGs, every time u earn XP points for your actions, you can use them to LEVEL UP. On FB, with every response to one's status or photo, or increasing count of friends list, one feels the same elation of that of a LEVEL UP. Interestingly, the FB games also thrive on this same LEVEL UP concept.
ReplyDeleteRegarding FB's life-cycle, if FB re-invents itself, or at least tries to introduce something new once in a while, it can sustain... Dupont Life Cycle
My first thought was have facebook choose you as there new brand ambassador :) jokes apart very true whatever u said... in this busy life its a gud source to keep in touch with people we know ...simply funda is use it in a safe and better way...
ReplyDeleteI will sum up with:
ReplyDeleteTry running the tiniest enterprise on your own and you know - chaar paise kamaana kitna mushkil hai. You will see the bhelpuriwallah who stands at your street corner with new respect!
Whatever is the thing "Facebook may fade away into the history, blah blah blah".
ReplyDeleteBut one thing is sure, The creator and this website has recorded it's name in the history.
Honestly ask yourself,How many of us who are writing these comments were able to do that, before there 25th birthday.
Nothing is Permanent, But history will always be there.
Either you make history or you become just one of those who read the history, that matters.
Great post with very interesting facts and figures.
ReplyDeleteSocial networking was introduced by Orkut - let's remember that as well...but FB took an edge with a better UI (the moment one gets used to it) and integrated apps - most importantly games like FarmVille, Mafia Wars(... and the list went on and on). Facebook added a platform for programmers to create their applications and publish them with plenty of options like facebook connect, I am not sure if Orkut had such thing. Facebook had privacy setting configuration and was considered more secure than other evolving social networking sites, which made me create an account but it remained overlooked until FarmVille and Mafia Wars happened and held people play them like crazy. I guess that was the turning point for FB that drew more people towards it; I strongly believe social networking games are here to stay for a long time.
As you said - "50% of its users login daily just to see new picture updates. They are interested in knowing what is happening in others life." - I feel it is so true with we Indians at least; the way FB has taken it forward works very well with the Indian psyche.
Technologies keep on evolving, interests keep changing, survivors are those who adapt themselves to the change and bring something innovative each time, let's see what comes next.