Facebook has reached an almost unimaginable milestone: 1 billion people are active users. It is hard to get your head around that number, which represents one-seventh of the world’s population (and not every one of us even has Internet access). It’s almost half the total number of people estimated to be on the Web at the beginning of this year.
Facebook has now gone through its first trial by fire as a public company, slightly exceeding revenue expectations (with $1.18 billion) but showing a big loss in its first reported quarter ($157 million). Facebook shares were pummeled in after-hours trading; the company’s market cap has been slashed in half in just 10 weeks.
Twitter created a bit of a stir late last week by cutting off LinkedIn. Ostensibly this was to project a consistent look and feel for tweets as the company adds features like threaded conversations, which LinkedIn didn’t convey. People who have accounts on both services will no longer have their tweets appear on their LinkedIn profile pages. It’s hard to know how much these updates will be missed on the business-minded network, which distinguishes itself by hosting a more focused conversation than “anything goes” Twitter. But the practical effect is that if you want to be heard in both places you’ll have to repeat yourself, unless you choose to do all your updates from LinkedIn, which still feeds one way to Twitter. More likely, you won’t because it’s too much of a bother.
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.
We are witnessing a fascinating changing-of-the-guard moment in tech. The old Internet, represented this week by once-mighty Yahoo, is fumbling with another leadership crisis it must solve before it can even think about restoring some semblance of relevance. The new Internet, Facebook, is ruled by a young man in a hoodie who is on the verge of creating a massive public company that, as was the nascent Yahoo back in the early ’90s, will be an Internet darling longer on potential than track record, but running hard on an open field.
We have seen the past, and it doesn’t work.
Over the past few weeks, Facebook has been rolling out Timeline, its effort to remake its members’ profile pages into scrapbooks that, like nearly everything published on the social web, is told in a reverse chronology. While redesigns always inspire grumbling, the discontent seems particularly strong this time — 70 percent of users surveyed say they just don’t like it, and Facebook’s own blog page announcing Timeline is filled with complaints in the comments.
from Paul Smalera:
Online privacy doesn’t exist. It was lost years ago. And not only was it taken, we’ve all already gotten used to it. Loss of privacy is a fundamental tradeoff at the very core of social networking. Our privacy has been taken in service of the social tools we so crave and suddenly cannot live without. If not for the piracy of privacy, Facebook wouldn’t exist. Nor would Twitter. Nor even would Gmail, Foursquare, Groupon, Zynga, etc.
But for Facebook co-founder Mark Zuckerberg, a C-Note was the key to cementing his control over the social networking phenomenon.
By Kevin Kelleher
The opinions expressed are his own.
Facebook is steamrolling forward. It now boasts 800 million active users. The company is reportedly preparting for an initial public offering. It’s laying plans to sell a Facebook phone, strengthening its presence on the mobile web. But Facebook’s plans may be hampered by a new backlash against the company’s efforts to get its users to share more of their lives online.