Yahoo - Wireless Social Networking To Generate $2.5 Trillion By 2020
Two people forwarded this article to me yesterday saying this is where we should create a startup. But, as most of you know I’m not really a fan of social networking. Dont worry though this article isn’t another rant about that…
A recent study pridicts that wireless social networking is going to boom and generate $2.5 Trillion by 2020. With a headline like that you could be convinced that wireless social networking is THE market to enter RIGHT NOW! Well, wait just one minute. First, they are projecting the market to be that big in 12 years. Can anyone REALLY predict what mobile devices and the internet are going to look like that far into the future?! Where were we 12 years ago in technology?
Of course, you could argue that even a small slice of that market early on could be profitable now and even more so in the future. But I have one question… is this article assuming that someone has invented a good way to make money of social networking besides ads? If not, then wouldn’t you think you should be getting into mobile online advertising instead? I also think the fact that sites like YouTube and Facebook have yet to earn a profit should be somewhat of a warning to those thinking that social networking is an easy cashcow.
In conclusion I want to state that I’m not saying this is a market everyone should avoid. I just think that things grew and boomed so fast in the world of social networking that no one really knows how it is goign to evolve or how we’re really going to turn a profit. With users expecting everything to be free and with the majority of social networking users being young adults without a single dollar to spend, I would need to see a better business model before I get even a little bit excited about this market.
So all this talk about how amazing OpenSocial is has pushed me to blog about it. Now it’s not what you’re thinking!! (unless you know me really well). I just don’t care for social networks! I hate all this talk about if Facebook should be scared because MySpace officially supports Google’s OpenSocial and blah blah blah. Who cares!
First off, social networks are not about what kind of fancy Pet Fish apps they offer, they are about the users and their friends. But, I am starting to think I am one of the few people left on the planet who doesnt check their facebook page everday. Heck, I go months sometimes if I am lucky enough to not have random people message me with friend requests. Sure, if you’re really lucky you could happen to find that long lost friend and your life could change forever… but seriously… how many of you actually talk to those people? From what I have seen most people just message their close friends and end up calling eachother to ask if they saw the comment they left on their page.
Now, I am not saying that it’s dumb to keep in contact with everyone and also find people but I don’t think any has got it right yet. Personally, I think the instant message approach is the best tool so far for keeping in contact. Why? Because I can simply choose not to be found! Even by those who already have me list on their instant messenger. But if I want to be contacted I can allow others to do so. It doesnt have to be some sort of game.
Maybe I’m not seeing exactly what ‘problem’ sites like Facebook are solving. There are thousands of services to use that allow you to communicate with your friends. You have sites like Facebook and MySpace, many different types of instant messengers, email, chatrooms and even the telephone. The real problem seems to be just knowing what services your friends use if you need to get a hold of them for whatever reason. Right now, sites like Facebook rely on you actually being a member of that service. If your friend isnt registered then you WONT find them no matter how hard you try. So in conclusion, I think there has to be a better way to go about ‘preserving links of communication’. We shouldnt be concentrating on trying to mesh every single social network into one huge mess but instead just somehow listing all the mediums that I may be contacted through in some managed form.
Or maybe I am just crazy since I dont feel the urge to know what all my friends are doing at any given moment and Im pretty sure they dont care what I am up to constantly either.
