Wednesday, August 4, 2010

Power of Facebook -- The Facebook Movie

I love how the studios are now creating a movie about the story of Facebook named "The Social Network".

I don't remember ever seeing them make a movie about Oracle or Medtronic, etc. I guess they're not as well known and there wasn't as much drama involved.  The trailer makes Mark look like a complete nerd that just wanted to be popular.  Well, based on his looks and awkwardness when speaking I can buy that.  I get the impression he's the Bill Gates of 2010.

Once Facebook reached critical mass, it's very difficult for someone not to be on Facebook.  Individuals start inviting people to events online, keeping in touch online, and ultimately plan out their life online.  People who fail to join are ostracized, and left out. The more people live their lives and share on Facebook, the more Facebook becomes valuable.  Consumer information is very valuable to advertisers.  Where else other than Facebook would users share their information so freely?  People share with others detailed information from where they went to school, where they work, to the TV shows they like as well as their political and religious views.

The funny thing is, Facebook's staying power is its ability to attract users. Fundamentally, Facebook is no different than Myspace or Friendster (or any other social network).  You can think of Facebook like a nightclub.  One may be initially attracted to a new club because of it's furnishings, but you go back because of the people and atmosphere.  Once a club starts attracting the undesirables, the club is no longer popular and people move on to find the next biggest thing.  This is one of the biggest fears of Facebook, and the main reason why they are so innovative. 

Facebook has also become a social network tool that keeps people in touch where they otherwise would never have. I have always been surprised how many people read my updates even though very few comment on them. There is also no denying that every one of us has a little "Peeping Tom" in ourselves and we are always eager to both share our lives as well as peep into others.  

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