So, here we are on the eve of the great Facebook IPO, reputed to value the company at up to $100 billion. This for a business model with virtually no creative content. It’s cashflow is generated solely by the sale of information that is given freely by (or extracted from) it’s members.
As stated today in an article at the Daily Bell, “The more of it that the company can extract, the more valuable the company becomes. It is perhaps, therefore, the first company in history where the business model is based almost entirely on spying. ”
Today, that seems to be worth quite a lot. What value do you place on the data you’ve given them? We might ask the same question regarding the information we provide any on-line business, though Google comes immediately to mind. We might also take a moment to wonder about the value of the (rapidly diminishing) resource we once knew as “privacy”.
HT – my public profile can be viewed here.
– Note, check out this link to view an interactive model of how changes in Facebook’s privacy policies have evolved over time. Fascinating.