“Facebook is Stupid and For Old People”
May 16, 2012 § Leave a Comment
It’s already been a bad news bears week for Facebook. And the IPO doesn’t happen till Friday! From Ross Newmann:
Since its inception, Facebook has traded in an invaluable currency – it was undeniably cool. Ordinary consumers loved the company because it was radically transforming how they connected with friends, and investors fell over themselves trying to get a piece of its unprecedented growth. That narrative has rightly held up for quite some time, but it’s coming to an end. When Facebook announced the Instagram acquisition, many feared that Facebook (supposedly a company with its finger on the zeitgeist) would wreck the newer and “cooler” Instagram. This 12 year old summed it up best when she said, “Facebook is stupid and for old people.”
Facebook’s party just isn’t cool anymore, and the ads that pay for it don’t really work that well. The party’s over, and it’s no fun when all your friends figure that out right before your birthday IPO.
Full article here.