by: Erik Hauser
OOOOO I can hear the chorus of “ya gotta be kidding me” from over here. Yes. Its the beginning of the end of Facebook. It doesn’t matter how many users they accumulated using one style - the minute the T’s & C’s start changing - in the middle of the night - people start heading for the exit.
I stood in front of a crowd at Stanford University in 2007 and told them that Myspace was done, and that there would be another player that would emerge, but ultimately face the same fate, but for perhaps a different reason.
In this case, Facebook crossed the privacy line for a lot of people and just like Myspace became Fox’s space really quickly - Facebook changed the rules of engagement and didn’t play nicely in the sandbox with their users.
You can tell me until you’re blue in the face that they have too many users to fail. That sounds familiar - too big to fail. It’s not completely over. Facebook’s fearless leader can beat a quick retreat and this time do things with the permission of the users and actually get some buy in. As for now, sure people will keep their Facebook page up, but time spent by users on the site is going to decrease dramatically. Truth be told, most people had augmented their behavior and have started realizing that they need to step away from “the facebook”. So, they have only allowed themselves to use it to update a status every once in a while.
Read the Garden State Economy - everything that starts eventually fails. In this case it’s failure has just been expedited because of a very savvy computer geek that didn’t get much about social dynamics off the computer screen.
Next……..