As of Today, I've Been Facebook's Product for Ten Years
This video popped up on Facebook this morning, and I think it had the opposite affect on me than they intended. Apparently, I joined Facebook on April 19th, 2007. What was supposed to be a celebration of Facebook instead reminded me I've been their product for 10 years now. Every thing I do, every like, comment, and post, provides data they sell to advertisers in order to create profit for shareholders.
On Steemit, we're the shareholders.
On Steemit, we have governance roles via our witness votes.
Here, we get to decide how the value we create is rewarded and what the future here will look like.
I'm grateful for Facebook, I truly am. I've connected with many amazing people there, and I've grown tremendously through various groups and pages I follow.
I'm also hopeful for the future.
I want to see the network effect push away from centralized systems to those where individuals have influence, they can't be censored, and we all benefit from the value we create together.
The future is freedom.
The future is decentralized.
Steem On
"I've been their product for 10 years now" insightful words
If it's free then YOU are the product.
Thanks. I've been thinking this way for a while. This video today was a fresh reminder.
If a service is free... Most likely you are the product, not the customer.
Yep. That said, I'm okay with being the product if I'm also the owner and the incentives are aligned.
Yes, this is true in 99% of the cases, I agree.
Wow man, crazy how time flies. I finally caved in a month ago, officially on facebook for 1 month..lol. The lure to promote scaredycatguide was too much, the reach is too great.
The network effect is powerful.
You can easily become a shareholder of Facebook. And it's not too late. FB stock is still undervalued - just like STEEM. 😛
Unfortunately, from my perspective, their incentives are misaligned because the owners and products are separate groups. We've seen it often where the owners end up killing the golden goose by not respecting what the users actually want. They push for monetization which ends up destroying the user experience.
Share Price: $142.28
P/E ratio: 40.96
Hmm...
What's P/E ratio? By the way, good post! Spot on.
P/E ratio is the price to earnings ratio that many investors look at when evaluating the value of a stock. It's a bit simplistic, especially for tech companies, but it can be kind of funny to see high ratios. Here's Facebook's: http://www.nasdaq.com/symbol/fb/pe-ratio
I have been a "proud product" of Facebook for about 10 years, too (I think)... but I have also used Facebook to build followings for three businesses... creating three customer bases "in exchange" for selling myself, where otherwise I would have had to pay a marketing company/specialist thousands of dollars for the same results... so I look at it as a "trade of value."
Not saying that to justify "being a product," just to say that "two can play that game:" They want to milk me, I can milk them, too....
True, but as I mentioned here, they are also going to charge you to share things with "your" followers. Two can play the game... but the game is rigged in their favor.
Thanks for the reminder. I've been the product of FB for 10 years too. Fortunately, I didn't get addicted to it at all.
Yikes, I wish our clients didn't use it or else I would have bailed a while ago.
They probably use it because the network effect is too powerful and effective to ignore.
OMG , I think I am as long as you with this FB Mania story. I am still on it because it seems Steemit Inc is not getting it together as well as I hoped for. I am patient but there is a lot of un-fairness going around. They can't keep people. Same names on and on trending. Too many good ones left. I am having fun as long it lasts. Hopes and faith in effect!
Anyways, Good to have options to jump around.
I've seen social networks come and go. The power of the network affect is huge, and I don't think Steemit (or anyone else) can really put a dent into it unless something major happens. That said, it might also be a generational thing where the next generation chooses different, decentralized tools which empower them. Tools like Steemit. :)
I've done them all Luke, started with friendster....hahaha
I am fortunate to see it all unfolding. So far so good! There will be huge changes because there is something fresh and exciting waiting. I can feel it! The decentralised future is in the hand of an interesting generation.
Looks like FB has New Marketing too!
Wonder if Steemians are going to do a similar "the day you joined steemit"?
That's a good idea. I'll be coming up to mine in June, I guess. Have you seen http://steemstory.com/ ?
I have now Luke!
I felt like my account was taking over, lol.
Nice clean and fast summary of your account, I like it!
Thanx
Well said! I couldn't agree more :)