Tag Archives: Google

Short Term vs. Long Term – MySpace and Facebook

MySpace laid off almost half of its staff this week and is reportedly for sale amid reports of continuing subscriber loss to Facebook.  MySpace was the social networking site when Facebook reserved its membership ranks to attendees of Ivy League schools.  It was the first site that anyone could log into and create their personal “space” on the web including photos, music, mini-blogs and more.

It took MySpace less than 5 years to become a star and fall from grace in the markets while Facebook accelerated at a pace that now eclipses that of Google.  What happened?  Well … it’s a case of trying to be everything to everyone and the master of nothing.  It spread itself to thin and lost its way.  Facebook has always been straight forward – you get what you get.  Sure, they introduce new products here and there but it’s a “one size fits all” model no matter if you’re a celebrity, student, housewife, or just a regular joe.

The lesson?  Decide who and what you are and stick to your guns.  An ever changing business model that reacts to short term guidance or market pressures ultimately leads to failure.  We’ve seen it before and we’ll see it again – history always repeats itself.

When MySpace was sold to News Corp. it forced itself into the world of short term thinking where quarterly revenue was king.  The pressures to top quarterly analyst forecasts eclipsed a strategic vision that was responsible for its rise in popularity and ultimately led to an ever changing and increasingly complicated social media landscape and mission statement that turned off its core user base.  These users flocked to the simplicity that is Facebook (at least from a UI perspective) and the rest as they say is history.

Maybe Zuckerberg had it right by resisting the pressures for an IPO over the years and keeping Facebook private?  It has meant he can deliver on his strategic vision from a long term perspective rather than a reactionary stance every quarter like most public entities.  You tell me … MySpace is the 49th most visited site globally according to Alexa.com.  That’s nothing to sniff at unless you’re competing against the likes of other social media sites like Facebook, LinkedIn, YouTube, Flickr and a slew of others that rank higher for visitor count.  They’re all competing in the same space.  Pun intended.

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Happy New Year! (Auld Lang Syne Social Media Style)

Times Square at night

Image via Wikipedia

My New Year’s Eve tradition has always included watching the ball drop in Times Square on television – either at home or from another location.  But, it was always via television. You remember what that was, right?  You may think I’m kidding – but, in another 5 – 10 years that will be a truly valid statement.

December 31, 2010 brings this time honored tradition into the realm of Social Media.  As of today, Facebook has officially passed Google as the most visited site on the internet.  The passing of the guard from a search based user experience to a social media user experience has occurred!  Befitting this type of change, my New Year’s Eve tradition will shift from watching the ball drop in Times Square on television to leveraging a wide variety of social media.  The power of social media is remarkable as my tradition will now include sharing my experience with my network of professional and personal friends via Facebook and Twitter.  There are a variety of tools and links available  including apps for Android phones, apps for the iPhone, iPad, and iTouch, Facebook apps, live stream on Twitter as well as video streaming sites.  I bet you can even attend the event virtually via Second Life!  Leverage the links below and be a part of the New Year Social Media experience but most of all … Happy New Year!

Facebook New Years Eve Ball Drop App:

http://www.facebook.com/apps/application.php?id=205194694192

Links for live streaming:

TimesSquareNYC.org
Livestream.com/2011
TimesSquareBall.net


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