Saturday, January 8, 2011
A serious Post: The Beginning of the demise of Facebook?
Mark Zuckerberg is Time's Man of the Year, the movie about him seems likely to be an Oscar winner, and now Goldman Sachs is raising $1.5 billion from its favorite investors on behalf of the social networking company.
At the very same moment, Facebook's only real competitor --NewsCorps' waning social networking site, MySpace -- is shedding employees and expenses, most likely in hopes of a fire sale.
But appearances can be deceiving. In fact, as I read the situation, we are witnessing the beginning of the end of Facebook. These aren't the symptoms of a company that is winning, but one that is cashing out.
Indeed, 11 years ago this week, when AOL announced its $350 billion merger with Time Warner, I was asked to write an OpEd for the New York Times explaining.....
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