"Like" it or not, Facebook has made social media an multi-billion industry from a dorm room. It is also software engineering triumph being able to handle millions of users. That "Like" is also a simple innovation that revolutionized advertising. Just about every website added a "Like" us on Facebook icon, Tweet us on Twitter icon.
This means: people want to be heard. Their status, their photos, etc. Is there a better way to do this than Facebook? The guy who can do this will be the next multi-billionaire.
A big plus of FB is that it enabled long lost friends to hook up. Advertisers also yearn for new ways to advertise things. I hate to disappoint you but I never look at a single ad in detail. The big minus is... do you want your life to be revealed to people you don't know?
Giants have attempted to knock FB out: that (confusing!) Google Circles, that MSN stuff. I do not think even Google or Microsoft can knock any market share out, because people have already hooked on to FB. If FB comes up with an operating system you are going to stick with Windows right? If FB comes up with web search you are going to stick with Google right?
The only real possibility for FB to lose now is some outage or something which better not happen.
I find it tiresome to look through FB to read the long list of statuses. Yes, some are worthy news updates which I prefer a personalized announcement email (like a new baby).
I prefer blogging over putting my thoughts as status. I don't want to further pollute your facebook feed.
Here is a dire warning: people will eventually get Facebook fatigue and not bother look at it altogether.
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