iLike was propped up by its nepotistic relationship with Facebook -- Ali and Hadi's relationships with Sandberg are well known. She used her influence to make them a "Great App" and what happens to them? They get bought by MySpace. Now MySpace owns Facebook's Great App.
structuring a company for flipping (as is typically the unsaid case of those businesses who lack an obvious revenue channel) dooms it to failure if it does not create a direct threat for those businesses that do have such a channel.
First question that any investor should ask: What is your business model? Second question: What is your exit strategy? Unless both have practical answers that are easy to understand...hey, I've got this great thing you should get in on!
@prsiii: iLike's business pitch to the investors must have been, "Hey, we're're just like Last.fm. Except lamer. And with less than half the number of registered users. Please invest in us, we are the future."
A lot of the exact same mentality as in 1999. People who don't know jack about either the web or basic consumer behavior predicting wild successes from business models that don't really exist, the companies being espoused getting caught up in all that praise themselves, but neither consumers nor revenue ever really developing. And in hindsight, it's always obvious. "Who the hell would even think you could make money off a Facebook widget??"
It still amazes me that so many people look at companies like this, see that they are trying to do something that's popular in real life somewhere on the internet and therefore think they've got it made. Hey, lots of people eat too, so maybe I'll be the Facebook Farmer. I'll have a farm and put it on Facebook. I should be a billionaire, right? It's automatic!
@badasscat: I agree with you on most your statement. However, there has to be a link between User-populated content and advertising dollars. The first designer that can bridge that gap in a social network type of forum wins the game.
I was just saying earlier to a few of our Gizmodo guys, "Hey remember when Facebook widgets and apps were the shit? What ever happened to those things?"
I guess the answer was nothing, back to my twitter follow me if you'd like @blakeley LOLZ!
@blakeley: What happened to them was they were way to effective and they were put on page two of your Facebook profile. Now the only ones that really are scaling are casual games from Zynga.... how long before Facebook buys that company--or launches their own games--is anyone's guess.
There is only one platform you should trust your business on: the interwebs. Building a business on Facebook or the iPhone is a recipe for disaster.
I left MySpace when Uncle Rupert bought them. I stopped fussing with Facebook after the press started accessing photographs to add to news stories. I'll give Twitter a shot but frankly - I feel safest here at Snark Central where the beer is cold and nobody knows my name.
People who are upset over changes to Facebook need to get a life. In real life YOU actually get to control the features. Imagine that! What will they think of next?
Personally, if you're on facebook, you're a fucking loser.
Day by day, this is proven. Facebook users perceive themselves as a "Clean" and "Elitist" site. Well, now we all know why the world isn't run by juvenile college shits in glorified chatrooms.
I haven't used facebook in 2 years. If this is what matters to you, you live a dismal life. Yes, you have a voice, but no one cares.
@Widget Economist: To clarify, I mean you're a loser by virtue of DNA and natural selection. Not just you being on facebook. Facebook is the "telling point" of your genetic abnormality.
Also it's your bad personality and poor music taste.
Not to mention out of touch. "Well, now we all know why the world isn't run by juvenile college shits in glorified chatrooms" Except for the whole social networking (and specifically some of the people behind facebook) being a HUGE factor in Obama getting elected, the majority of media people being on facebook and/or twitter, major companies getting behind facebook as a means of connecting with consumers, etc. etc.
You being too old/bitter/pretentious to effectively use facebook doesn't mean that it's not a revolutionary social tool that is becoming an ever more integral part of life.
@mattymcd: Let me be more specific. Gawker: I love you, you're perfect, don't ever change. But let's be serious, the last redesign of this very site pushed it straight into some serious twitter territory. And I'm not complaining about, in fact I like it, but let's leave the kettle out of this, OK pot?
I hope they're listening...the other day they added your own profile pic to EVERY comment box in the feed, people freaked out and by the end of the day they were gone. It gives me a slight ray of hope.
I would say the problem is that they took away some of the sorting control. They already had a live feed under one of the tabs in their previous system. Before I had tabs where I could look at just status feeds, or just photos, etc etc. That worked. Why don't they find a happy medium between the old facebook and the new facebook? Rounded corners & design changes to don't bother me, but the loss of some features that I used all the time plus the difficulty of finding certain features makes this a lose. There are some nice new features with the new facebook, keep those, but give me my tabs and everything back.
@Cassi Haggard: Try creating friend groups as a form of filtering. I find that a great way to review what my close friends, coworkers, and other are doing, all in a batch, and quickly.
08/20/09
08/18/09
First question that any investor should ask: What is your business model? Second question: What is your exit strategy? Unless both have practical answers that are easy to understand...hey, I've got this great thing you should get in on!
08/18/09
08/18/09
08/18/09
A lot of the exact same mentality as in 1999. People who don't know jack about either the web or basic consumer behavior predicting wild successes from business models that don't really exist, the companies being espoused getting caught up in all that praise themselves, but neither consumers nor revenue ever really developing. And in hindsight, it's always obvious. "Who the hell would even think you could make money off a Facebook widget??"
It still amazes me that so many people look at companies like this, see that they are trying to do something that's popular in real life somewhere on the internet and therefore think they've got it made. Hey, lots of people eat too, so maybe I'll be the Facebook Farmer. I'll have a farm and put it on Facebook. I should be a billionaire, right? It's automatic!
08/18/09
08/18/09
I guess the answer was nothing, back to my twitter follow me if you'd like @blakeley LOLZ!
08/18/09
There is only one platform you should trust your business on: the interwebs. Building a business on Facebook or the iPhone is a recipe for disaster.
08/18/09
08/18/09
08/18/09
08/18/09
03/20/09
03/20/09
03/19/09
03/19/09
03/19/09
03/19/09
Day by day, this is proven. Facebook users perceive themselves as a "Clean" and "Elitist" site. Well, now we all know why the world isn't run by juvenile college shits in glorified chatrooms.
I haven't used facebook in 2 years. If this is what matters to you, you live a dismal life. Yes, you have a voice, but no one cares.
03/19/09
Also it's your bad personality and poor music taste.
03/19/09
Wow. Bitter much?
Not to mention out of touch. "Well, now we all know why the world isn't run by juvenile college shits in glorified chatrooms" Except for the whole social networking (and specifically some of the people behind facebook) being a HUGE factor in Obama getting elected, the majority of media people being on facebook and/or twitter, major companies getting behind facebook as a means of connecting with consumers, etc. etc.
You being too old/bitter/pretentious to effectively use facebook doesn't mean that it's not a revolutionary social tool that is becoming an ever more integral part of life.
03/19/09
No. You are a revolutionary social tool.
03/19/09
03/19/09
03/20/09
03/19/09
03/19/09
03/19/09
03/19/09
03/19/09
And the HUGE font.Ick.