Facebook and the Race for Online Attention
An interesting video was recently posted on YouTube by Thomas Power of Ecademy. He is suggesting that with an estimated 1 billion members by 2012, Facebook could begin offering financial services to its user base and, in effect, become a bank. He goes on to say that Facebook could also introduce things like peer to peer lending to its audience and eliminate the need for all other banks. This may be a bit farfetched, but some of the points he makes in this video definitely deserve some thought.
Power also highlights the game that is on, essentially between Google and Facebook, to become the main attention holder online, and “sell them everything and help them buy or source products better.” Such as the ‘group buy deals’ on just about all products that could be possible through Facebook. The winner of this game, he claims, “is the one with all the names.”
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