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(The Register)   The only reason Mark Zuckerberg spent $1 billion on Instagram is because they wanted $2 billion and $1 billion seemed like such a deal   (theregister.co.uk) divider line 182
    More: Fail, Mark Zuckerberg, venture funding, Facebook  
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12565 clicks; posted to Main » on 18 Apr 2012 at 9:56 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-04-18 01:28:17 PM
I'm noticing a pattern....

New technology advances allow some newcomer to dominate a new market. That dominance equates into a lot of $$$. Then, the dominate player uses $$$ to buy out any competition that comes it's way to ensure it's dominance.

This seems to be the status-quo. It works until the government steps in and calls it a monopoly (but even then, it works) or until some new technology comes along.
 
2012-04-18 01:28:20 PM

dgames: Karne: dgames: Thanks for the answers to my lazy question. Sounds like it automatically removes the decision of whether to post to fb or twitter, which is exactly the decision I want to keep.

Uh, no. It's up to you if you want it posted on Twitter or Facebook.

Oh, okay. I thought someone above said it was automatic.

With my current setup, it sounds like it's only two more button clicks to do the same thing. I'll stay on my app diet.


For future reference, asking questions about social media on Fark is like asking about black people on a KKK website. :)
 
2012-04-18 01:29:53 PM
I wish the Zuckerberg family would have stayed in movies they were funnier then

i441.photobucket.com
 
2012-04-18 01:30:37 PM

foo monkey: Their investors got paid. Of those 13, maybe 2-3 "Founders" also got paid. The rest got a nice bonus pink slips.


This is how business rolls now.
 
2012-04-18 01:31:31 PM

Tax Boy: Ah, instagram. The autotune or dubstep of photography.

They take a photograph, electronically process it to make it look like shiat --- and people LOVE IT.


But it's INSTANT! And I can send it to my Facebooks and stuff! And people think I'm an artist and love me!
 
2012-04-18 01:37:06 PM

Karne: dgames: Karne: dgames: Thanks for the answers to my lazy question. Sounds like it automatically removes the decision of whether to post to fb or twitter, which is exactly the decision I want to keep.

Uh, no. It's up to you if you want it posted on Twitter or Facebook.

Oh, okay. I thought someone above said it was automatic.

With my current setup, it sounds like it's only two more button clicks to do the same thing. I'll stay on my app diet.

For future reference, asking questions about social media on Fark is like asking about black people on a KKK website. :)


Like Free Republic?
 
2012-04-18 01:37:55 PM

Karne: 9beers: Facebook has gone from 500 million users to over 800 million users in the past couple of years and is projected to be over 1 billion by the end of this year. Just look at all those people leaving.

Yeah, the people saying that have no time for facts. Every now and again someone tries to get attention on Facebook by declaring how they are leaving...but usually are back posting within the same day.


I actually did. January 2009 when they changed privacy settings. I deleted everything (except for friend contacts), and did the long removal for Facebook. I also sent a certified letter to Facebook requesting a purge from their servers. Good riddance.
 
2012-04-18 01:44:28 PM

Minarets: Sounds like some great business valutaion techniques there. Half of what they are asking! Who cares what they are actual worth!


TFA 29-year-old Kevin Systrom - asked for £2bn for the company, which has 13 employees and no cash flow. and has the Largest Ball in the known universe. Unless he's sitting on the IP for an app that will allow Siri ot give you a blowjob, there is no way that valuation even approaches sane
 
2012-04-18 01:54:59 PM

Snarcoleptic_Hoosier: I actually did. January 2009 when they changed privacy settings. I deleted everything (except for friend contacts), and did the long removal for Facebook. I also sent a certified letter to Facebook requesting a purge from their servers. Good riddance.


You sound very concerned over something so insignificant.
 
2012-04-18 02:04:45 PM

taliesinwi: secularsage: -A user base that's getting so uncool that even my Grandma has an account, while young people are starting to abandon it for greener pastures

I keep hearing this, but where are they going? Google+? Even if they do leave they're off on their own island somewhere, because their 1,354 friends aren't also coming over with them.


I haven't seen any formal research yet (and this WOULD be an interesting study), but the speculation is that they're not picking any particular place to go. Some are going to Google+ or Twitter, but others are just over the idea of social networks and aren't going anywhere. I'd wager many of them are just using their phones to socialize with the friends they want to and ignoring everyone else.

See, the thing about Facebook isn't that it's turned into MySpace... it's that the whole social media thing gets played out when you realize that you're starting to hate the way you're relating to people in your social circles. For me, it became painful to see family friends whom I love and admire in person making complete arses of themselves by putting up racist political cartoons where the President looks like a monkey or a sambo savage, poorly-worded diatribes about whatever's sticking in their craw that day, or snarky notes about how people who follow Jesus shouldn't be Democrats or that atheists shouldn't be Republicans.

It's even worse when that sort of nonsense is coming from a family member who posts it in response to a status update or photo and then your friends (who don't know the person or the context) start a huge online pissing war because they're just as narrow-minded in the other direction.

The "greener pastures" may well be a return semi-anonymous forums like Fark comments threads, where at least you know you're going to get pissed on no matter what you say, and you don't care, because it's Fark.
 
2012-04-18 02:05:17 PM

Magorn: Minarets: Sounds like some great business valutaion techniques there. Half of what they are asking! Who cares what they are actual worth!

TFA 29-year-old Kevin Systrom - asked for £2bn for the company, which has 13 employees and no cash flow. and has the Largest Ball in the known universe. Unless he's sitting on the IP for an app that will allow Siri ot give you a blowjob, there is no way that valuation even approaches sane


It could happen, but you still have to be able to ask for it...

i1095.photobucket.com
 
2012-04-18 02:08:06 PM

Snarcoleptic_Hoosier: Karne: 9beers: Facebook has gone from 500 million users to over 800 million users in the past couple of years and is projected to be over 1 billion by the end of this year. Just look at all those people leaving.

Yeah, the people saying that have no time for facts. Every now and again someone tries to get attention on Facebook by declaring how they are leaving...but usually are back posting within the same day.

I actually did. January 2009 when they changed privacy settings. I deleted everything (except for friend contacts), and did the long removal for Facebook. I also sent a certified letter to Facebook requesting a purge from their servers. Good riddance.


You sure showed them. Now all you have left is to read articles about Facebook and comment in Facebook posts.
 
2012-04-18 02:10:29 PM

secularsage: taliesinwi: secularsage: -A user base that's getting so uncool that even my Grandma has an account, while young people are starting to abandon it for greener pastures

I keep hearing this, but where are they going? Google+? Even if they do leave they're off on their own island somewhere, because their 1,354 friends aren't also coming over with them.

I haven't seen any formal research yet (and this WOULD be an interesting study), but the speculation is that they're not picking any particular place to go. Some are going to Google+ or Twitter, but others are just over the idea of social networks and aren't going anywhere. I'd wager many of them are just using their phones to socialize with the friends they want to and ignoring everyone else.

See, the thing about Facebook isn't that it's turned into MySpace... it's that the whole social media thing gets played out when you realize that you're starting to hate the way you're relating to people in your social circles. For me, it became painful to see family friends whom I love and admire in person making complete arses of themselves by putting up racist political cartoons where the President looks like a monkey or a sambo savage, poorly-worded diatribes about whatever's sticking in their craw that day, or snarky notes about how people who follow Jesus shouldn't be Democrats or that atheists shouldn't be Republicans.

It's even worse when that sort of nonsense is coming from a family member who posts it in response to a status update or photo and then your friends (who don't know the person or the context) start a huge online pissing war because they're just as narrow-minded in the other direction.

The "greener pastures" may well be a return semi-anonymous forums like Fark comments threads, where at least you know you're going to get pissed on no matter what you say, and you don't care, because it's Fark.


I think I know what the next natural evolution in social media is, and it's not far off, but I'mma gonna see if I can scam a few bucks out of google for it befoe I give it away free on fark...but if you think abou tit, it's screamingly obvious
 
2012-04-18 02:14:30 PM

Magorn: Minarets: Sounds like some great business valutaion techniques there. Half of what they are asking! Who cares what they are actual worth!

TFA 29-year-old Kevin Systrom - asked for £2bn for the company, which has 13 employees and no cash flow. and has the Largest Ball in the known universe. Unless he's sitting on the IP for an app that will allow Siri ot give you a blowjob, there is no way that valuation even approaches sane


Siwi took high-wes pictures of my junk wast night for Craigswist.
 
2012-04-18 02:27:09 PM

Karne: Snarcoleptic_Hoosier: Karne: 9beers: Facebook has gone from 500 million users to over 800 million users in the past couple of years and is projected to be over 1 billion by the end of this year. Just look at all those people leaving.

Yeah, the people saying that have no time for facts. Every now and again someone tries to get attention on Facebook by declaring how they are leaving...but usually are back posting within the same day.

I actually did. January 2009 when they changed privacy settings. I deleted everything (except for friend contacts), and did the long removal for Facebook. I also sent a certified letter to Facebook requesting a purge from their servers. Good riddance.

You sure showed them. Now all you have left is to read articles about Facebook and comment in Facebook posts.


Swing and a miss on the point, Skippy.
 
2012-04-18 02:30:22 PM

Snarcoleptic_Hoosier: Swing and a miss on the point, Skippy.


What's your point? You got all high and mighty over something that didn't have any real world consequences.
 
2012-04-18 02:49:56 PM
the instagram android app slaughtered my expanded battery on my evo on saturday. The app got quickly uninstalled..
 
2012-04-18 03:02:05 PM
farm8.staticflickr.com
 
2012-04-18 03:21:12 PM

algrant33: Come on, people. Pay attention, this is your key to millions or billions.

People are inherently lazy. Invent something that takes an existing, relatively simple process which involves multiple steps, and turns it into a single-step process.

It's not enough to be quick, simple and easy to do, it needs to be automatic, instantaneous and effortless. If it's quick and effortless, people do it often. If you breed a little bit of "cool" into it, it spreads like wildfire.

THAT is how you turn "nothing" into "billions".


Word. Don't hate, participate. There's so much money out there for doing a whole lot of not a goddamn thing. We just gotta figure out how to get our piece of the pie. Maybe a news aggregator where people hang out and act like total dicks? Hmmm.... Nah, I get the feeling that's been done.
 
2012-04-18 03:45:33 PM

secularsage: taliesinwi: secularsage: -A user base that's getting so uncool that even my Grandma has an account, while young people are starting to abandon it for greener pastures

I keep hearing this, but where are they going? Google+? Even if they do leave they're off on their own island somewhere, because their 1,354 friends aren't also coming over with them.

I haven't seen any formal research yet (and this WOULD be an interesting study), but the speculation is that they're not picking any particular place to go. Some are going to Google+ or Twitter, but others are just over the idea of social networks and aren't going anywhere. I'd wager many of them are just using their phones to socialize with the friends they want to and ignoring everyone else.

See, the thing about Facebook isn't that it's turned into MySpace... it's that the whole social media thing gets played out when you realize that you're starting to hate the way you're relating to people in your social circles. For me, it became painful to see family friends whom I love and admire in person making complete arses of themselves by putting up racist political cartoons where the President looks like a monkey or a sambo savage, poorly-worded diatribes about whatever's sticking in their craw that day, or snarky notes about how people who follow Jesus shouldn't be Democrats or that atheists shouldn't be Republicans.

It's even worse when that sort of nonsense is coming from a family member who posts it in response to a status update or photo and then your friends (who don't know the person or the context) start a huge online pissing war because they're just as narrow-minded in the other direction.

The "greener pastures" may well be a return semi-anonymous forums like Fark comments threads, where at least you know you're going to get pissed on no matter what you say, and you don't care, because it's Fark.


Couldn't have said it better myself. For me though, having everyone I know (that is, actually know in real life) on Facebook has kind of acted like a real-life friend filter - they say stuff on Facebook they wouldn't say in person (like what you mentioned above), and they've exposed themselves as the racist assholes I always kind of suspected they were, proving that I should probably spend time with my other friends.
 
2012-04-18 04:05:42 PM
Everyone said Google was crazy when they paid 1.6 Billion for Youtube, some crappy little video site with no revenue.
 
2012-04-18 04:18:06 PM

OldManDownDRoad: secularsage: Facebook:

-A user base that's getting so uncool that even my Grandma has an account, while young people are starting to abandon it for greener pastures.

Boy howdy. Back when I first started using it, the folks in my user base were designers, musicians, and the members of my hi skul and kolledge crowd who had somehow escaped being trapped in cubical land. They posted music videos, photos of artwork, and invites to club openings.

Nowadays, those folks hardly ever log in (two came up this week as "accounts inactive") and now my friends list is crowded with the idiots I usually avoided back in school, and they post political crap, Jesus stuff, and photos of their kids.

I use it less and less and can see the user base falling off rapidly starting next year if not sooner.


Ehhhhh....circle of life...The people who fade away as they get older, will be replaced the younger generation.

It's sort of like owning a studded belt....When you're young it makes no sense, when you're 13-20 years old it's the coolest thing ever...and it slowly becomes more and more stupid the older you get...until your 30 and think WTF was I thinking....only to watch the next crop of 13 year olds go "WOW, a studded belt....that is AWESOME!!!!"
 
2012-04-18 04:40:17 PM

Hella Fark: Summercat: Er. I don't get it.

Instagram, worth500 mil. Two companies want it. Of course the sale price would go up...

Twitter prolly only offered 900 mil.


my problem is how the hell it's worth that much to begin with??

there's a lot of photo-processing apps out there, some like instagram with one-touch effects and frames, some far better in my opinion.

what makes this one so special? and so damn valuable? it seems ludicrous to me


I know this sounds urban legendish, but this is Fark so, whatever. A friend of mine has a cousin that developed a program that routed e-mails more efficiently during peak load times, which he sold to Yahoo for $60 million. I get why that would be useful to Yahoo, but why the hell would they pay $60 million for it?

//I went to business school so my ideas are always of minimal use or already done. Still looking for something worthwhile though.
 
2012-04-18 05:56:50 PM

xtragrind: Hipsters are creating another dot-com bubble. I can't understand what that company even did. NPR hyped this company up when they reported the deal but it sounded like all they do is make pictures look old? This stuff makes me feel old because I can't understand why people would even want to invest money in something like this.


It takes boring, uninspired photos and turns them into sepia-toned boring and uninspired photos. Sometimes you can't even recognize the original objects in the altered photo, which obviously makes it all the more cool and artsy. You just don't get it.
 
2012-04-18 07:31:07 PM
How DARE a company with no business model and little-to-no revenue buys another company with no business model and little-to-no revenue using fake money.
 
2012-04-18 07:44:23 PM

mrtoadswildride: Ehhhhh....circle of life...The people who fade away as they get older, will be replaced the younger generation.


Not exactly. It's more about "social classes".

Places become hip, the hippest of the hippest reside there. The next hippest follow and so forth. Once housewives from Kansas are on there, it's no longer hip, the hippest will move (if they haven't already). Then the next hippest will follow and so forth.

Thing I've noticed in the past couple of months: my activity section in Google+ is growing. People are starting to post there and my guess is that it means they're not doing so on Facebook so much. Could be amusing seeing a $100bn company collapse quickly.
 
2012-04-18 09:08:17 PM

landmantx: Everyone said Google was crazy when they paid 1.6 Billion for Youtube, some crappy little video site with no revenue.


a lot of people said newscorp was crazy for paying 500 million for myspace too.
 
2012-04-18 11:02:07 PM

roc6783: Hella Fark: Summercat: Er. I don't get it.

Instagram, worth500 mil. Two companies want it. Of course the sale price would go up...

Twitter prolly only offered 900 mil.


my problem is how the hell it's worth that much to begin with??

there's a lot of photo-processing apps out there, some like instagram with one-touch effects and frames, some far better in my opinion.

what makes this one so special? and so damn valuable? it seems ludicrous to me

I know this sounds urban legendish, but this is Fark so, whatever. A friend of mine has a cousin that developed a program that routed e-mails more efficiently during peak load times, which he sold to Yahoo for $60 million. I get why that would be useful to Yahoo, but why the hell would they pay $60 million for it?

//I went to business school so my ideas are always of minimal use or already done. Still looking for something worthwhile though.


My programming professor has been on a couple local boards and it left him in awe with their wasteful spending habits. 2 things he witnessed.

One of them had a guy that gave the idea of hiring a person for the sole purpose of sharpening pencils. (They already had electric pencil sharpeners but the lazy fark didn't want to sharpen his own pencils)

The other board had a guy that wanted to hire someone to open the doors at their meetings.
 
2012-04-19 01:37:02 AM

keytronic: jabelar: keytronic: Yeah, Zuckerberg has no instinct at all when it comes to making money on the internet.

What a maroon!

It is a logical fallacy to believe that someone was successful based on their acumen (a lot of times success if highly situational), or that even if they were astute in their earlier success that they can leverage that in different situations. For example, in this case I'm not aware of him having a proven record of either good negotiation or particularly good acquisitions.


So all those people who invest in Berkshire Hathaway are fools too then. (That's Warren Buffet's company, btw)


They would be if they expected Warren Buffet to himself succeed at coding a social networking site based on his success in M&A.
 
2012-04-19 05:45:54 AM
Stupid deal. Doesn't change the fact that he and his company will still be stupidly rich.
 
2012-04-19 12:44:08 PM

farkeruk: mrtoadswildride: Ehhhhh....circle of life...The people who fade away as they get older, will be replaced the younger generation.

Not exactly. It's more about "social classes".

Places become hip, the hippest of the hippest reside there. The next hippest follow and so forth. Once housewives from Kansas are on there, it's no longer hip, the hippest will move (if they haven't already). Then the next hippest will follow and so forth.

Thing I've noticed in the past couple of months: my activity section in Google+ is growing. People are starting to post there and my guess is that it means they're not doing so on Facebook so much. Could be amusing seeing a $100bn company collapse quickly.



Eh...no one can come close to replacing them.

Google+ had the best chance, they had all this buzz about their great new facebook...and they absolutely blew it by not letting people in. They foolishly did that "invitation only" thing, and after 2-3 months of hearing about google plus.....not being able to get an account and check it out...people just stopped caring.

Google should have either kept their mouth shut about it...or let people on...but said...hey this a work in progress..there will a lot of changes made suddenly until we hammer out the details.
 
2012-04-19 03:10:34 PM

Tenatra: One of them had a guy that gave the idea of hiring a person for the sole purpose of sharpening pencils. (They already had electric pencil sharpeners but the lazy fark didn't want to sharpen his own pencils)

The other board had a guy that wanted to hire someone to open the doors at their meetings.


As it happens, I have graduate degrees in both. Could you please tell me who to talk to?
 
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