'Facebook Fatigue' or rather Web 2.0 Fatigue...

The Register (UK) recently ran an article titled:

"'Facebook fatigue' kicks in as people tire of social networks"

This is what I have been saying about Facebook. There is no real business model that is worth USD 15 billion smackaroos. See Nov 20th, 2007 posting. Gartner was warning against the "Web 2.0 Hype" in December (my posting on this here).

The Reg: "The average length of time users spend on all of the top three sites is on the slide. Bebo, MySpace and Facebook all took double-digit percentage hits in the last months of 2007."

Yes people.. stop wasting your time on FaceBook during Q4. You have to work to make those earnings targets. Facebook and Myspace does not help with productivity.

Checkout these stats from ComScore (courtesy of Creative Capital):

So the total social network audience grew by about 5% YOY, but average time spent DECREASED by 23%.

The Reg: "That 'user engagement' is dropping off (page impression growth is merely slowing) should be of particular concern for the sales people struggling to turn these free services into profit-making businesses. In the age of tabbed browsing, how long people stick around is particularly key for 'interactive' sites, where people aren't attracted by useful information, but by time-wasting opportunities."

Dat's what I said.... 1) no business model, and 2) time waster

The only exception may be LinkedIn where I have been told to go to head hunt rather than use traditional methods. And it seems to be working! And I was told this by a Google staff and by a Bezurk.com staff (recently acquired by NewsCorp).

Anyway, do read the Register article. It's a fun read. The article ended by reminding readers to put things into perspective. Ford Motor Company is valued at less than USD 15 billion by Wall Street! Ford is worth less than FaceBook!

HAHAHHAHAHAHAHAAHAH!!!!!! God does have a sense of humour.