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Twenty-Three Year-Old Facebook Founder worth $5 billion

Discussion in 'Lessons from Success/Failure' started by WheelsRCool, Oct 25, 2007.

In your opinion, will Facebook.com be around in 5 years?

  1. Yes

    20 vote(s)
    62.5%
  2. No

    12 vote(s)
    37.5%
  1. AndrewG
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    AndrewG Contributor

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    Do you know what applications arew earning $1 Million?
     
  2. dhuang
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    dhuang New Contributor

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    I've read that article a while back, but completely forgot about it. JScott, you've added more stuff to my stack of reading materials. :)

    I believe remembering that revenue generated by viral FB Apps comes from other "Advertisement Applications." Ads will make them money, since Facebook isn't going to be paying them. Just the idea of not being in control of your users, and at the mercy of Facebook, makes building a business on Facebook seem foolish.

    I've talked to many application developers who have made some extremely viral apps on the site, and when it comes to their business model... it's always ADS. I asked them if they have made revenue yet..."No," was their response, aside from VC and Angels.

    However, that's not the only way to make money. There are other methods such as selling a service, etc.
     
  3. JScott
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    JScott Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Most businesses don't give you *full* control over your users.

    For example, almost any Internet business relies on search engines to help market and bring customers. If you own a retail store in a mall, you rely on the mall marketing to bring customers in. If you own a car dealership, you often rely on the manufacturers to create marketing and brand recognition. If you write a book, you often rely on publishers to distribute and market it.

    Very few businesses have end-to-end control over their customers, but that doesn't make them bad businesses.

    I have a friend who has a Facebook app that has over 70,000 users; he's used his app to drive users to his website, where he is able to monetize their presence. He's using Facebook as a marketing vehicle, and is very successful.

    I'm not a huge fan of monetizing purely off of advertising. But, no one can argue that Google has built one of the most successful technology companies in the world doing just that. Just because your friends aren't doing it doesn't mean that other people aren't making millions (or hundreds of millions) doing it.
     
  4. dhuang
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    dhuang New Contributor

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    Heh, all very valid points Jscott. I know that Google's main source of revenue is their Adwords program, and considering I'm paying them to use it suggest that they're doing something right. ;)

    It's quite cool to see your friend use Facebook as a marketing vehicle. I also use Facebook to advertise as well, but I'm not too keen on the whole monetizing purely off of advertising either.

    Btw JScott, what kind of E-commerce/E-Business do you dabble into?
     
  5. JScott
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    JScott Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    I managed product innovation for eBay for a couple years, and have invested in and participated in several web startups in the Silicon Valley area...
     
  6. WheelsRCool
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    WheelsRCool Contributor

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    Cool info guys. I read the Google guys are now each worth about $20 billion I think from their Google stock (!!!).

    Regarding the Facebook guy as a "one-hit wonder," so were Bill Gates and the Google guys I believe, just once they started getting lots more revenue, they hired more people into their companies and had them develop new products, services, etc...
     
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    MJ DeMarco and dhuang like this.
  8. dhuang
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    dhuang New Contributor

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  9. CRBFL
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    CRBFL New Contributor

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    Thanks for the rep. It's appreciated.
     
  10. dhuang
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    dhuang New Contributor

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    Well, looks like Mark Zuckerberg made Forbes list this time. Youngest Billionaire that is self made.

    $1.5 Billion "invisible" net worth with a 30% stake in Facebook.

    Forbes valued Facebook at $5 Billion, instead of the outrageous $15 Billion with Microsoft's $240 Million for 1.6% Stake.

    He better sell soon, otherwise Facebook could be looking like "just another passing fad."

    I guess I need to work harder to top this guy! =)
     
  11. GPM
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    GPM Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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    Forgive me for resurrecting a thread from 2007, but I thought it was interesting to see how people viewed facebook. It has now been 5 years later and facebook is still around and it is a giant. I personally do not use it and can’t stand it, I had it for a while but the constant stalking by ex’s and people who I may have passed by the hallways in high school really freaked me out.

    Mark Zuckerberg’s current wealth is roughly $9.4 Billion, I am not sure if that was taken before or after FB’s disastrous public offering.

    Facebook Inc. (NASDAQ:FB) has a market cap of roughly $65 billion.

    Can we do another poll and see where we think FB will be in 5 years? Personally I think it will go the way of the dodo, but what do I know.
     
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  12. CommonCents
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    CommonCents Silver Contributor Speedway Pass

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    FB is more entrenched than a friendster, myspace so is less vulnerable to be knocked off by a new competitor, but if it oversteps its bounds to monetize and upset users, it will be vulnerable to an open source replacement. A key would be making it easy to for people to transfer their content/connections/friends/likes etc....
     
  13. JunkBoxJoey_JBJ
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    JunkBoxJoey_JBJ Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER

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    How I stumbled here is beyond me...but here we are again.

    Time flies.
     
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  14. Xeon
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    Xeon All Cars Kneel Before Pagani. Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Wow, a thread from 2007. A blast from the past.

    Turns out....most of the folks who commented in 2007 were wrong....
     
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  15. BookwormMitch
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    BookwormMitch Silver Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    If you have any predictions for the future I’m all ears, incredibly accurate prediction.
     
  16. JunkBoxJoey_JBJ
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    JunkBoxJoey_JBJ Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER

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    And last comment was really in 2013, so oddly enough here we are again, “again”.
     
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  17. jasoncuellar123
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    jasoncuellar123 I’m probably awake. Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Ugh! I was 14 when this happened. I’m mad at myself.

    What was I doing with my time?

    Probably nothing important.

    Smh.
     
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  18. jon.M
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    jon.M The Well Defined Forum Member Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    What will it look like in 2025? The media's been going hard at demonizing FB. Will Zuck come out on top? Will users spend enough time on their platform? Will it still be an attractive advertising venue in 2025?
     
  19. The Abundant Man
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    The Abundant Man Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    View: https://www.youtube.com/watch?v=6KHyMISpE18


    MARK
    Your date looks so familiar to me,

    SEAN
    She looks familiar to a lot of people.

    MARK
    What do you mean?









    ].21.
    SEAN

    Look at any Victoria's Secret catalogue
    from the last six months.

    . MARK
    (PAUSE)

    You're kidding.

    SEAN
    No man. I'll tell you something, you know
    how I founded Napster?

    MARK
    I know everything there is to know about
    you Sean.

    SEAN
    F*ck Wikipedia, Mark, no you don't.

    (BEAT)
    I was going out with this girl in high
    school. And it was great. I thought it
    was great, but the whole time--almost the
    .whole time we were together., like five
    months--she was giving blow. jobs to the
    co-captain of the lacrosse team. And I
    found out and I was willing to forgive
    her but she told me she loved him. So I
    had this dream that I would make a
    billion dollar company.. Not a million
    dollar company--any hack can do that---a
    billion dollar company. And I would have
    business cards printed up that said, "I'm
    CEO.. .Bitch. "

    (BEAT)
    It's our time. We run the universe. Yeah,
    she's a Victoria's Secret model. I want
    to know where the F*ck Eduardo is.
     
    Last edited: Feb 11, 2019
  20. Xeon
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    Xeon All Cars Kneel Before Pagani. Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Maybe Bezos will buy and acquire Facebook, and together with that, Instagram and Whatsapp as well.
     
    Last edited: Feb 11, 2019
    ZF Lee likes this.
  21. Scot
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    Scot Ductus Exemplo Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Welp.. this comment didn’t age well now did it haha
     
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  22. JScott
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    JScott Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    I thought I did a good job of hedging my bets throughout the entire thread... :)
     
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  23. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Admin Post
    Thread is as old as this forum! Interesting to see the wide variety of opinions for something emerging ... emerging to ubiquity? Or emerging into oblivion?

    Perhaps in 5 years we'll be looking at the Cannabis and Crypto threads to see how opinions materialized, or didn't.
     
    Xeon, Mr.C, JScott and 3 others like this.

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