If a business loses customer, it has put itself out of business.
USA (HUD) V. Facebook
Weblining.
Tech giants are even more vulnerable than industrial giants. At least GM had a bunch of real estate and industrial capacity to list among its assets.
Facebook is a software platform that a small group of people with programming skills can probably replicate in a garage over a long weekend. Is it any wonder that the company is allegedly worth over $470 billion but has never paid out a single penny in dividends?
Remember MySpace? Remember Blockbuster and Nokia? Blackberry? Heck IBM in its glory days?
NO ONE stays in dominance by standing pat.
Kids today call FB “fogey book” and say they only use it to communicate to their grandparents.
May it die a quick and painful death and take twitter with it.
Only if everybody stops responding to ads.
Its to bad they own Instagram.
I humbly disagree.
Social media has proven to be hugely powerful. It has society-warping tendencies that must not be ignored. And it is in the hands of political partisans, intending to use that power to advance their own agenda.
What was good enough for Ma Bell is good enough for Facebook. Bust ‘em up. NOW!
Article gives most stupid of all examples to prove point.
The competition that brought GM down was foreign car makers operating in their ow countries and own economies.
Detroit’s downfall came from Japanese makers who found ways to make vehicles cheaper, more efficient and eventually safer.
The “Big Three” U.S. automakers conspired to introduce new features to the market slowly so as to have something new to sell each model year. They withheld safety and ergonomic improvements until they needed something new to market.
The Japs came in and immediately offered these improvements that Detroit wouldn’t feature and sliced a thick chunk of Detroit’s competitive advantage.
Facebook has no product. Consumers are their product. Same with Twitter. Both are extremely vulnerable to the same fate as MySpace. Amazon is essentially the Wal-Mart of the Net and I doubt they will die off anytime soon. Apple also has a product to sell. Google is hard to project.
The politicians who call us a Basket Of Deplorables and want to turn us into slaves.
The ego to Intelligence ratio in this culture is far too overwhelming for that risk....
FakeBook will not be around after 10 years. Younger generations will look at Facebook as a platform for old geezers. Zuckerberg will be considered a total loser.
Social media like Fakebook, Twitter, Snapchat and Instagram are the toilet of the internet. Don’t swim in it, FLUSH IT down the shitter where it belongs.
The goal of a business ought to be to develop in a way that provides the max return over time to its investors (and this means that the customer is king). It is clear that while that may be "a" goal of Facebook, there is another overriding goal (influencing U.S. politics) which gives the appearance akin to having an alien parasite attach itself to Facebook.
As the Good Book says, one cannot serve two masters.
Facebook has to decide. Is the customer king or not?
FB is kinda like an interactive CNN... it caters to the world...not American or conservative sensibilities.
Man I hope so.
Google, Amazon and Apple need to be broken up like AT&T as well.
Anyone see a Rank Zerox photocopy machine lately..?
GM ignored that Honda and Toyota started making better cars than GM.
GM let the quality if their cars go way down.
The “energy crisis” played a part. GM cars were great until the early to mid 70’s.
When they responded to politics and began making economy cars, compacts etc...I think they used the opportunity to make them cheaper.
John Kenneth Galbraith was the left’s favorite economist.
His son (Jamie) continues the proud tradition as the family’s socialist propagandist at the University of Texas:
https://lbj.utexas.edu/directory/faculty/james-galbraith
They are already regulated - and in manifest violation - by the Communications Decency Act of 1996 Section 230.
They are given protection from content liability in exchange for operating as open platforms that do not govern that content.
If we had actual representation in DC, then this would be a done deal: Instead, they have been allowed by the corrupt UniParty to have their cake and eat it too.
P.S. They are not private companies; they are publicly-traded corporations also regulated by the SEC.