If Facebook sucked itself into oblivion via it's flailing IPO and we had to find other social sites to chat on… Think of the windfall for EVERYONE ELSE! Let's see how Zuck and co. handle the pressure. Sure they've now got bazillions and have make hundreds of millionaire coders and workers, BUT… Do you think the site will get BETTER or WORSE? Do you think Facebook's Privacy Snafus will get BETTER or WORSE?
Let's look at today's numbers:
20 billion dollars. That number is almost too staggering to imagine without some "like" comparisons.
Let's look at Google:
It's all in that essential number, the Price/Earnings Ratio:
Okay, thus ends the financial overview of where Facebook's 20 Billion dollar market cap places it. And hey, Instagram was just bought for 1 Billion and they didn't have any true revenue stream at all. Oh, wait, Instagram was bought by Facebook. Okay… Let's look at the social side of a failing Facebook.
Who would benefit from a Facebook failure?
(Everybody, except for the current investors, of course.)
What would happen if Facebook collapsed under the weight of it's own
successful unsuccessful IPO and the revenue numbers that "might" make it feasible?
We'd have to find other sites to get our "connective" fix. (Sites like LinkedIn, Pinterest, and Google+ would experience a windfall of new users)
We could kiss Facebook's shoddy "privacy" "non-privacy" issues goodbye. (Let the lawyers haggle about how to divvy up the assets.)
We'd have to revert to higher (phone, email, face-2-face) and lower (IM, txt, shout across a canyon) forms of communication.
We'd need a better digital scrapbooking and sharing system.
Every single company involved in social media would enjoy a huge uplift in potential audience and users.
We'd have to reach out each other directly rather than via superficial "likes" and "check-ins."
Bottom Line: A swift and agressive Facebook departure might not signal the end of the dot com bubble v 2.o, but the beginning of real growth and real potential to do it better. And you know the tech teams at Google+ and Pinterest are watching the current stock crisis and legal morass with hungry eyes.
The harder question to answer would be: Who wouldn't benefit from a Facebook collapse?
Additional FB Failing Posts from Elsewhere:
- Doc Searls: After Facebook Fails
Other posts to help you kick ass in social media:
- Positive Forces: Delayed, Deflected, Divorced, Distracted, But Not Deterred
- Hyper-Connected Issues: "How Are We Connected Again?"
- Plussing or Dividing: How Are You Showing Up in the World?
- Dear Graduate – a Toolkit for Learners and Job Hunters
- Waiting on Pinterest? The Excitement is on NEXT-PIN Sites – Beyond #Pinterest
- What the iPhone 5 Will Bring This Summer: A Surprise
- Expert Not Found – Social Media is About Being a "Student" not a "Guru"
- New Social Business: Merely a Buzzword or Something Revolutionary?
- More of This and Less of That, Please – Thursday Morning Coffee
- Twitter 101: Hashtag Discovery & Business: How-To Do Social Media Marketing Research
Most people don't really enjoy being mean; they do it because they can't help it. (from Graham's Hierarchy of Disagreement)