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The Business of Facebook

Facebook is undeniably a phenomenal success given it’s ever expanding membership and mindshare of all the social networks, but even that has not provided it with the same money making prowess as Internet rivals like Google. So how and when can Facebook hope to start making some real money, or has that boat sailed already?

This and other similar hot topics were discussed by the panel at a Digital Breakfast NYC event which I attended off the back of my participation at the recent Copyright and Technology 2010 conference in New York (more on that here). The highlight of this event for me was the presence, on the panel, of David Kirkpatrick, Author of “The Facebook Effect”, a book which provides a fascinating insight into just how Mark Zuckerberg and co. formed Facebook, and the subsequent rapid journey it underwent to become the behemoth of social networks. The ensuing discussions between audience, panel, and chair touched on the many challenges confronting Facebook in its quest to become a ubiquitous platform. It also explored sore topics like privacy (“which means different things to different people and different generations”, according to panelist, Elend ), as well as Facebook’s difficulty getting into China and its huge user base of potential Facebookers.

My Verdict: Excellent event, great panel, stimulating conversation and a pleasant location (at the Madison Avenue office of the event host and sponsor), plus breakfast and an autographed copy of the book! Now that’s what I call an excellent start to the day.

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