Why Facebook Matters

It is really easy to dismiss Facebook as just another social network, likely to go the way of Myspace. Myspace is still very popular, of course, but it’s reputation is tarnished among professionals because of all the really CRAPPY content on there. And, it is true, Myspace has really degenerated a lot, in my opinion. But, there is more to Facebook than may meet the eye. There is a reason you find a lot of professional internet evangelists getting onboard with Facebook.

This is Web 2.0 At It’s Essence

Facebook’s CEO, Mark Zuckerberg, is a whopping 23 years old. Not only has he managed to get Facebook up to where it is, he is also leading the charge to bring social media to a truly useful point in the evolution of the internet. We’re not talking about things as simple as “friends” and buddy lists anymore. The new Facebook API makes possible a whole application framework. Here is a short video slip of Zuckerberg introducing this concept at F8 this year:

Let’s look at this quote from a story on CNN Money about Facebook:

Imagine that when you shopped online for a digital camera, you could see whether anyone you knew already owned it and ask them what they thought. Imagine that when you searched for a concert ticket you could learn if friends were headed to the same show. Or that you knew which sites - or what news stories - people you trust found useful and which they disliked. Or maybe you could find out where all your friends and relatives are, right now (at least those who want to be found).

It goes on to also say:

In advance of the announcement, which had Silicon Valley buzzing, Zuckerberg and other executives spoke to Fortune about the strategy. “We want to make Facebook into something of an operating system so you can run full applications,” Zuckerberg told me. He said Facebook is becoming a “platform,” meaning a software environment where others can create their own services, much the way anyone can write programs for Microsoft’s Windows operating system on PCs. Facebook, he explained, is a technology company, not a media one.

“Something of an Operating System”

And that operating system is getting a lot of attention. It opens up a whole new avenue for businesses on the internet. There are even angel investors interested in putting up money for the development of Facebook Applications. A new cottage industry, of sorts, is emerging as businesses invest money into developing Facebook applications to quickly help them reach the Facebook community. And while new opportunities emerge, others die. Some companies that were creating their own social media products are now left with a fairly meaningless idea. Now that these ideas can (And will) be built right on top of Facebook itself using the API, it totally changes the social media environment.

Stay tuned as I talk more about Facebook and putting it to use. I am, this week, investigating the importance of Facebook and I hope to clue you in on my thoughts as I go.

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