This is a good article, but the insinuation is totally off base.
The media business eats itself. General-interest magazines, national television networks and all-purpose portals are always succeeded by an ever-narrower special-interest approach.This has tended to happen over a reasonably long span of time, a generation or two, but in an ever-quickening world, the term du jour is the “disassembling” of Facebook, which, arguably to its detriment, has just added its billionth monthly user.
Not only is Facebook challenged by its inability to grow advertising revenue fast enough — the primary culprit in its 50% share-price plunge — but now it’s facing a carve-up of the social experience.
Mr. Wolff goes on to explain that there are newer and somewhat cooler apps and social media sites out there and that is a very valid point. However, to compare a social media site that was mostly geared towards teens in the beginning, that later on tried to reinvent itself to appeal to a broader base — to a site like facebook is totally unfair. Facebook is a much more broader appealing social networking site. Heck, my Mother is on the silly site, as is my Father; heck, my Dad has two accounts there! Why? Farming. He is on Farmtown and has like 16 farms on that silly game, between the two accounts!  Yes, my Mother is a farmer as well. I did that for a while myself, but I found it to be much too time consuming to bother with it. I had more important things to waste my time on; like blogging! 😉
I think the point that Mr. Wolff is missing, seeing that he is looking at it from a money standpoint, is this; Social media, as with technology, is always evolving. In other words, someone out there, driven by a desire to succeed is always going to figure out a way to something better than the old way of doing it. This happens in capitalistic society and it is not really a bad thing; it is called progress and yes, it is of the good kind. 😀 Heck, if we did not have that, we would all still be listening to reel to reel tape and getting our news off black and white TV’s. Not mention that Computers and Internet,  blogging and even social media would not exist.
However, I will this; I see Mr. Wolff’s point on Facebook’s ROI. I thought it to be a bit premature to introduce Facebook to the stock market. I thought that to be quite presumptuous and a bit bold. I was right, it was and that is why the stock dropped like a rock. I think also too, that the stock was overhyped and there are some people that remembered the dot com bubble that burst. Some investors were just not willing to gamble on a website again. Big as facebook is, and as big of a company that Facebook has become; it is still just a social media website and not a brick and mortar business.
Still, it is a excellent way to keep up with old friends, family members and yes, a good way to play farmtown.
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