It’s been a long time coming that I wanted to voice off regarding these whole social media movement, but until now there was no blog to do it. This comes right after reading the latest news on Facebook on TS’ frontpage…
Facebook is hot these days, as is social networking. But then again there’s no question to be asked, 1) Facebook has still to prove how viable its business is from a financial point of view, and 2) Until then, it’s a very overvalued company (at $10B?) that is benefiting from the online advertising wars created by Google, Yahoo and Microsoft.
As a site that relies on advertising to pay the bills, TechSpot also benefits from a bonanza in online advertising, but nobody wants a bubble either. Those guys at Silicon Valley are going like crazy looking for the next big thing, the next Google. The problem is they won’t find it, and then what will happen?
Just recently there was a startup conference organized by TC (another site that has benefited greatly from this investing madness). The conference proved to be extremely popular on web 2.0 circles, and while I did recognize some very unique and creative ideas from the projects shown there, still for some start-ups (which were supposed to be picked as the best of the best), I had no remedy but go “ok, but what is it that you do?” Only time will tell, we just don’t want another dot com bubble.
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