Given the fact that Facebook just filed for a public offering of its shares which will value the company at $100 billion and make thousands of its current investors wealthy beyond imagination, you might be forgiven for thinking that Facebook is a wild success. That, and the fact that some 800 million people currently use Facebook, or more than 10 percent of the total world population.
But despite all that, I think that Facebook is failing.
Do I think that Facebook is going to go bankrupt tomorrow? Far from it. I’m sure that it will continue to print money for years to come, based on sheer momentum alone. (Hey, AOL still exists.) But if you listen to the way that people talk about Facebook you sense – or at least I do – that its cultural moment has passed. This is just based on a very unscientific analysis of my own very small circle of acquaintances, but once upon a time, Facebook was this awesome cool thing that you just had to try. Lately, all everyone seems to say about Facebook is “I don’t get it” or “I find it annoying but I feel like I have to go on once in a while.” Facebook, in other words, is heading the way of MySpace.
Becoming MySpace, of course, is the specter that haunts the nightmares of every Facebook investor. The company has been super aggressive in trying to avoid that fate by trying to metastasize into something grander than an automated blogging site, sending out tentacle everywhere in order to become a ubiquitous presence that binds together every aspect of the internet experience. They have striven for immortality through intrusiveness. And this, I think, will be their undoing. Continue reading Facebook’s Fatal Flaw






