The potential opportunities Facebook has are TREMENDOUS. I feel like the potential is there, but it's is barely touched, and I'm not sure why.
Facebook's value is in moving toward mobile. They are ubiquitous enough where the chances of having Facebook in your local area is very high if you're a user yourself.
Given all of Twitter's hype, I feel Facebook could easily crush them. While Twitter's monetization strategy is also, of course, questionable, the two companies are tapping into a paradigm shift that has value that isn't quite fully understood.
Imagine people using Twitter, but with the richness of Facebook's content. While Twitter's 140-character limit was intentional, it's ultimately a limitation, since Facebook users utilize the service very much in the same way. Above all, though, Facebook knows profile information about you and your friends. It can not only serve ads based on what it knows about you, but where you are, and who is around you.
Facebook should ultimately strive to be the omnipresent social tool. There is undeniable value and opportunity for expansion in this. They have the user base, they just need to encourage people to use it in new ways. Twitter seems to be moving toward this, yet there is a huge difference between Twitter's user base (6M last I heard) and Facebook's (150M last I heard).
It might be just me, but I don't like giving out all my info to Facebook. I prefer Twitter because I like the fact that people can see only a limited amount of information about me, and visit my website if they need to know more.
I like Twitter because of its simplicity. Facebook is, IMO, just another social network with a few extra features slapped on. Twitter is like that small, efficient UNIX tool that you can combine with other tools to produce something which has much more functionality than the original.
Facebook's value is in moving toward mobile. They are ubiquitous enough where the chances of having Facebook in your local area is very high if you're a user yourself.
Given all of Twitter's hype, I feel Facebook could easily crush them. While Twitter's monetization strategy is also, of course, questionable, the two companies are tapping into a paradigm shift that has value that isn't quite fully understood.
Imagine people using Twitter, but with the richness of Facebook's content. While Twitter's 140-character limit was intentional, it's ultimately a limitation, since Facebook users utilize the service very much in the same way. Above all, though, Facebook knows profile information about you and your friends. It can not only serve ads based on what it knows about you, but where you are, and who is around you.
Facebook should ultimately strive to be the omnipresent social tool. There is undeniable value and opportunity for expansion in this. They have the user base, they just need to encourage people to use it in new ways. Twitter seems to be moving toward this, yet there is a huge difference between Twitter's user base (6M last I heard) and Facebook's (150M last I heard).