Tuesday November 06, 2007 : The Business of Social Networks

story links: social network geographical map, Rocketboom on MySpace, Rupert Murdock purchased MySpace for $580 Million, Rocketboom on YouTube, Joanne on Facebook, Microsoft buys Facebook crumb for $240 Million, Facebook worth $15Billion?, Google vs Microsoft over Facebook, Microsoft lands Facebook ad deal, Steve Balmer going crazy over developers, Social Graph problem, Google’s Open Social, cookie tracking profile ad sales

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Posted to Daily News
November 6, 2007 • 9:39 am | Permalink


  • C-C says:

    Great summary Joanne!

    But could you go over the part about the 15 billion crumbs that big sweaty guy is trying to eat cookies under the 1000 profiles you have on YouTube again; I didn\'t catch that ;)

  • smoufasa says:

    Also, Rupert Murdoch is a wank. Facebook is a lot cleaner looking and more sustainable, i think it\'s gonna put Myspace out of business in the coming social network armageddon, but Google is gonna sit behind the scenes and laugh their way to the bank. Good for them, I love the Google people. I hope that they don\'t stop at social networking software, I want them to release a cross platform style OS and sell computers and put Bill gates out of business.

  • Alexander says:

    Hahaha, 15 billions? Funny how value has no value any longer.

  • Eoin says:

    Map is from xkcd - Shouldn\'t you attribute the source a bit better? - like linking to:

  • B-man says:

    Joanne, your analysis in the last 15 seconds was right on the money. People on these sites don't realize they are being "data mined". Everything they write about themselves or to their friends is being picked up by computers that search for "key words" and as your Thailand example so aptly portrayed, voila, the next time you log on: There's a ACME contest for a Trip for 3 to Thailand. So yes, big, no huge advertising dollars are at stake.

    However, these sites can and will be used more nefariously in the near future, if not already. For example, let's say I send an email to a friend telling him/her I couldn't make my mortgage payments and my house is about to be seized. Suddenly no bank in the country wants to give me credit. Or, perhaps you discuss a health issue and soon afterwards insurance companies don't want to insure you or companies don't want to hire you or RB won't let you post anymore, because they no longer like the letter "B" ...see, advertising dollars is the first step in what unfortunately will become a big brother world of the future. STOP EXPOSING YOURSELVES! Or better still, get out those aluminum hats and stop sharing personal info on these sites. Old fashioned email will do trick.

    It's all innocent and fun now, but wait till they come and take you awaaaaaaaaayyyyyyyyyyy!

    • Will says:

      It\'s funny. A buddy of mine remarked recently (on an article ?npr?) that ~18yos seem to put absolutely Anything on a MySpace profile, w/o even a thought toward privacy of any kind.
      -Whereas people in our age group had always been at least a Bit careful about what was public.

      I think you\'re right. Soon, Google will control the world.

      (->so viz. Larry and Sergey: which one\'s Pinky and which one\'s The Brain?)

    • ballgame says:

      Or, you want to get on that plane to Thailand and find out you can\'t. Because you\'re on The List. Or maybe you can\'t come back because you\'re on the list. Lindsay Beyerstein (majikthise) has already encountered this problem IIRC. This somewhat long talk by Naomi Wolf puts this in context ... essential viewing but it ain\'t pretty.

  • leron says:

    We have arrived at an interesting time in history, when the last generation of ad-humping scumbags is trying to figure out how to use them there Internets to make money off all them young folk. They know that the old models for ads are dead or on life support and they\'re tossing billions around trying to grab a stake in the new world order, despite being relatively clueless about what that may be.

    And B is right, the notion that your \"private\" communications will be mined has all sorts of f*cked-up implications. There is no reason to believe that the ad pushers will even pretend to have your best interests at heart. Not if there\'s another nickel to be made somehow.

    I\'m surprised GoogleChurches haven\'t sprung up yet, where people can go, kneel in prayer, light candles and beg the Info Gods to be kind and merciful. Hmmm, toss in a coffee bar and there might be a business plan in there....

  • Kam says:

    I have no idea how I found this last night but it\'s about \"pimping your profile\" You have to sit through a couple minutes of Zadi till you get to the Rick Rey part, who I think is doing a little ZeFrank bit but it\'s interesting.
    Now if I can just find that freakin\' Beatles song.
    later people

  • staman says:

    Great report and totally agree. I signed up and had a myspace page for my film festival as all my filmmakers begged me to do so and said this is the only way to be successful in today\'s world. Well, I absolutely hate myspace and its layout and functionality or lack their I ended up canceling it and going back to my trusty, creative, paid-for, professional web site. But you report today makes me even more happy that I did this, I was aware of the Big Brother aspect but this story made it even more scarier...

  • nitro2k01 says:

    How many people watched today\'s episode of Rocket/b/oom?

    OVER 9000!!

  • andi says:

    Eat this:

  • arena says:

    JOANE, really great summary !

    you just MISSED this NEW social network site that is going to change everything !!!!

  • mb says:

    Super awesome episode. Crisp and clean and useful and dead on.

  • Sarah Meyers says:

    Great episode guys! That was a fun perspective on the social networks. It\'s a great way to do PR and Marketing for Start-up companies. The CEO of Net Vibes, Tariq, told me that he uses facebook for Net Vibes PR. I use Facebook for PR and business along with socializing with friends. Linked in is anouther great one. Does anyone use Hi5?

    What about Plaxo?

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