The rise and fall of a two social media giants...

Within 24 hours I learned of the rise of a new social media platform (Google+) and the fall of another (MySpace, which was purchased for a wimpy $35 million).

The Rise...
Google's announcement of Google+ is interesting in a "me too" sort of way. Essentially they are going to release a bigger/cooler version of Facebook and they are betting that their features and functionality are so good that they are going to be able to beat out Facebook. I hate to say this but I don't think they are going to do it, not anytime soon anyway. The "wow" factor of Facebook is the fact that 90% of everyone I know who is "online" (with an email address) can be found on Facebook. It's not in the technology that makes it good, in fact, although the technology is fantastic a non-technologist probably doesn't understand the complexity of the application. Most folks probably think the application isn't really that much more complex than a Craigslist.

The Fall...
Although $35 million is a lot of money for us common folks, the sale of MySpace for this amount is extremely disappointing because MySpace was purchased six years ago for $580 million, yikes... The reason the value is so low is because everyone stopped using it and started using Facebook.

Huh... People stopped using one social application and started using the other, maybe Google's Google+ does have a shot?

Until next time...Rich


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