Dennis Mangan muses on the Facebook IPO and how American industry went from building things to amusing ourselves.
I often think that the Facebook bubble will pop, but the company is doing everything it can to prevent that by tying itself to everything you want to do online. Want to play Scrabble against your friends?1 You need a Facebook account. Want to try out Spotify? You need a Facebook account.
Facebook is part advertising, part entertainment—just like most mass media. But in the long run it’s about getting you on the grid.
Games on Facebook shouldn’t be underestimated. I don’t think Facebook games are bad, but when the number one Facebook games developer does scummy things like rip off other games and then creates a business model where you have to spend real money to get fake money, it sketches me out. What’s even more disturbing is that it works. ↩