With more than half of the U.S. public on Facebook and more than 200 million tweets sent each day (about 30 percent from the U.S.), American life is continuing to enmesh itself with social networks. But for the CEOs of the top 500 U.S. companies, social networking is a small — if existent — piece of successful living.
from Paul Smalera:
The two speakers from Twitter -- Ryan Sarver and Doug Williams -- had just left the stage at Big Boulder, a data conference I'm attending in Colorado, when Twitter, the service, went down Thursday. Neither of them have anything to do with keeping the service up and running, but the restless audience probably still would've thrown the hotel-provided notepads and candies at them if they could've. Such was the level of dissatisfaction about the Twitter platform's outage yesterday -- and let's face it, any day a service we rely on goes out, even when the crowd in question doesn't consist of users and consumers of social big data, and the odd journalist.
Silicon Valley start-up Swipp says it has raised $3.5 million in funding from venture firm Old Willow Partners, an early investors in Groupon. It will use the cash to develop and launch its first products sometime in late fall. On the subject of what exactly those products will be, Chief Executive and co-founder Don Thorson was cagey. But it seems like he’s aiming to create a social network where it would be easier for consumers and merchants to analyze or make money from data than on say Twitter or Facebook.
In his first appearance at the World Wide Developer’s Conference as spiritual leader of the Apple faithful, CEO Tim Cook made it clear that he intends to not just further Steve Job’s vision but expand upon it. It’s never been more clear that Apple is intent on world domination.
On Monday, the Wall Street Journal reported that Facebook is considering lowering the minimum membership age to include tweens. It raised eyebrows and kindled a new discussion about privacy and the propriety of inviting youngsters into what the company aspires to make the world’s biggest salesroom.
With about 900 million people, Facebook is larger than all but two countries in the world. But the nation of Facebook’s experiment with direct democracy may be coming to an end after only a few years.
As Facebook continues its search for a bottom after only eight trading days as a public company, there’s a much bigger problem than the $40 billion in market cap it has lost. The people behind Facebook’s dubious $100 billion-plus self-valuation were apparently as doubtful as the rest of us. At stake is the fate of Wall Street’s soul. To paraphrase Sir Thomas More’s line in A Man For All Seasons: “It profits a man nothing to give his soul for the whole world…” – but for Facebook?
Google just put out a study touting metrics as a way to sell more advertising.
But the most interesting part of the study is the timing. It comes on the heels of the Facebook advertising fiasco, when just days before its hotly anticipated IPO, General Motors said it would stop advertising on the social network, raising the question of the value of a Facebook ad.
For all its vaunted idealism, Silicon Valley can be just as cynical as any other area of commerce. The tech companies set up to profit from spam and search-engine trickery are too numerous to count. But Facebook’s short history makes one thing clear: There has never been a tech company that built so much fortune from the exploitation of ordinary people while giving so little in return.