Facebook Suckage Syndrome

I guess Facebook really is just for college kids to poke themselves on. Oh well.

[From Scobleizer — Tech geek blogger » Blog Archive Facebook continues to suck «]

Yeah, pretty much. I don’t know anyone doing “serious stuff” on Facebook, and vampires and food fights are so last year. This is a real problem for Facebook and not only is it in their interests to do something about it, but they also have an obligation to all of the companies that are basing their future plans on Facebook becoming a true utility service. Robert may have a bone to pick with Facebook but that doesn’t make his comments any less valid.

As a nice contrast to my previous post about LinkedIn CPM rates, check out this data on Facebook CPM rates which more or less triangulates to other datapoints that suggest social ads just haven’t had the impact that proponents had hoped for. But hey, they are generating, apparently, an impressive revenue number and have plenty of cash in the bank so do have time to work it out.

There’s still a big opportunity here, but I will certainly admit that in my case aspirations got ahead of reality. In retrospect it is clear that many of the bullish Facebook commentators, like yours truly, were painting Facebook with expectations based on what we wanted to see as opposed to what they were capable of doing. Fair or not, Facebook still benefited from a huge push upward as a result of this, but the problem with leverage is that it works going down equally as well as on the upswing.