Facebook's Growth Premise is Wrong

I just listened to Facebook's VP talk about where the site is going and its opportunities.  While I think Facebook is a nice app for sharing photos and other type of social media, I don't see these connections working well with other verticals and serious markets.

I just listened to a podcast from the Seatle MIT Enterprise Forum on Web 2.0 and Marketing. They had several panelists from agencies, the VP of Marketing from Technorati, and then Mike Murphy, the VP of Media Sales at Facebook. After listening, it became clear to me that Facebook has a very flawed strategy and outlook on Web 2.0.

What do I mean by this?

Mr. Murphy seems to be believe your Facebook network can provide you with all of the answers you need in your life. They can help you select your products, determine the relevant results for your searches, and more. In addition, Facebook can tease out the key influencers on the site and use them to help promote products. I will be influenced by these people.

Here’s the problem I have. I have great friends but for the most part I don’t think I’d trust them with key decisions in my life. Nor do I want them involved in many of the Web searches that I do. Sometimes I trust their judgment but more often than not, I look for unbiased opinions from others that I don’t know. After all, friends and acquaintances usually come with their own baggage. I’m more apt to believe a complete strange who has provided a good rational for his/her opinion than my child-hood friend who really doesn’t have a clue.

What does this mean? Facebook is a great app for staying in touch with my friends but it’s never going to be a source of serious information for me. Sure, I may share music or even describe a trip I've taken.  These are areas where friends can have an impact.  But in general, Facebook is not going to take over the Web or topple Google, like some are claiming.  People are asking social networks to do too much. They are after all “social” networks.  I may ask my friend for advice sometimes, but when the time comes to buy, I’ll go to an expert source.

Sol Nasisi
Sol Nasisi: Sol Nasisi is the co-founder and a past president of BestCashCow, an online resource for comprehensive bank rate information. In this capacity, he closely followed rate trends for all savings-related and loan products and the impact of rate fluctuations on the economy. He specifically focused on how rates impact consumers' ability to borrow and save. He also has authored a wee

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