The Problem With Facebook: Is It Really Out of Room to Grow?

I rarely read the front page of YouTube, but today when I typed in YouTube to my address bar (with the intention of finding some music to listen to while I worked), one of the videos I saw on the front page was titled “The Problem With Facebook.” Truth be told, I thought it was a video by MinutePhysics and thought that there was going to be some scientific explanation of Facebook’s problems, but it turns out the video was by 2veritasium. (I guess MinutePhysics may have liked the video, so that’s why I saw their name or maybe they had just come out with another video, who knows.)

Anyway, if you have Facebook (or had Facebook) or know anything about Facebook, I’d say it’s worth the 6 and a half minutes to watch it:

I’m not sure what the fellow’s name is, but it reminds me of when George Takei went on a bit of a rant about Facebook not letting him reach all of his fans on Facebook. At the time, I think I still had a Facebook profile (rather than the page I have now) and I thought that was strange that your posts weren’t reaching all of your friends — by design.

The fellow in this video makes that same point, but he does it in a more thorough way than I remember Takei doing it (which is not to say Takei didn’t do it), and he also juxtaposes Facebook with YouTube. He makes a rather compelling argument, but something I don’t think he highlights is that he kind of has a vested interest in YouTube being more successful — his videos are hosted on YouTube! Now, this doesn’t really take anything away from the argument — it’s sound — but I think it’s worth noting.

Throughout the video, he talks about the incentives. I wonder what Michael Sandel would say about the incentives in this situation. Would he say that the incentives have been perverted? It’s tough to say because Facebook is trying to make money and there’s nothing inherently wrong with that, but I wonder if maybe they’ve strayed a bit too far from the original purpose of the site.

There’s one last thing I want to highlight from the video — in part — because it dovetails nicely with something that I’ve been trumpeting on here for awhile. He argues that Facebook has already maxed out, with regard to the amount of time people spend on the site per day (approximately 30 minutes) and that Facebook has already reached just about everyone in the developing world. When it comes to online video, however, he argues that there is still lots of room to grow based on the fact that people still don’t watch that much of it when compared to television. I might not put it in those words exactly, but I think he’s on the right track.

If even the President of the United States knows that Facebook is becoming or already is unpopular with young folks, I have to think that the smart people over at Facebook know this, too. As they’ve got a fiduciary duty to their shareholders, I’m sure they’ve been hard at work trying to figure out just how they’re going to capture more value — translation: how they are going to make more money.

Who knows… maybe Facebook will soon go the way of the social networks that have gone before it. Remember MySpace?

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One response to “The Problem With Facebook: Is It Really Out of Room to Grow?

  1. Pingback: The Problem With Facebook: Young People Really Are Social Networking Elsewhere | Jeremiah Stanghini

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