Just as Facebook replaced Myspace, something will eventually replace Facebook. What will it be? What will draw users away from such a well-established social network?
Nobody can replace facebook. Just facebook will replace itself.
There is no Facebook. There is only Zuul.
one way facebook could replace itself is the facebook coin.
moving from de facto login to de facto micropayment solution would make them a much bigger company.
from “Facebook Coin: A Necessary Evil?” by Mohammad Musharraf
"Of the 7.7 billion people on this planet, close to 2.7 billion are a user of Facebook, Instagram and WhatsApp. That’s a serious number because it doesn’t count the number of accounts but the number of users, as one user can have multiple accounts. No other fiat currency has ever witnessed this big a user base, forget comparing it to any other cryptocurrency.
If even half its users start to use Facebook’s coins, it would make Facebook the dominating central bank."
it would make Facebook the dominating central bank
It is way too early for something this heavy…I’m curious whether the author has been watching Black Mirror, or if his imagination is just like that.
Seriously, though, any potential competitor to Facebook will have to integrate with them somehow, to take advantage of their existing network. I wonder what that would look like?
a company becoming the international central bank… is scary, possible and (probably) monopolistic… but at the same time there is real economic value to be created by offering near 0% fees on international micro payments.
putting the facebook coin aside, I think the most legitimate competitor to facebook would probably get data from the user and not facebook. maybe if laws improve, users could export their data from social networks in a simpler process, but for now, it’s a lot of work to export social data, and even more work to upload it elsewhere. so to compete with facebook, first it’s about, what aspect of facebook’s business you are competing with them? In terms of better digital relationships, I think others can offer better 1:1 communication and better 1:many status updates. But they have so many users and a lot of related products. But it’s also a word that is now a part of our culture: Facebook. And I think its meaning has and will change over time. It’s still a part of my routine, but if it weren’t, ho hum.
Let’s say you’re building a social network. A purely social network with a “friend list” and messaging, along with some sort of blogging platform and profile pages (I’m thinking back to Myspace here). In order to make that useful, you have a chicken-egg problem: you can’t get users without activity on the site, and you can’t get activity on the site without users. In this case, it has to be people the person actually knows or is interested in knowing, compounding the issue. That’s where I think connecting with Facebook would be useful, a sort of “import your contacts” feature.
Otherwise, the user gets on the site, invites 5 friends, and…now what? It’s a pretty boring social network with only a handful of people.
As for the household name, so was “Standard Oil”. So was “Bell”. I don’t think that means as much, especially today.
Importing contacts from phone numbers, email addresses, and Facebook would definitely be helpful to growth, but I don’t think importing contacts was essential to Facebook’s early growth, and a new competitor would have to have a self fulfilling feedback loop (is that the right term?) that brings users the people, messages and content that the user would want to interact with.
It is encouraging how much easier it is to build a friends list, newsfeed and messaging.
I look at the phone today, and sometimes I wished the whole thing was flipped, people first, i.e. search the person, and then choose email, tweet, text message, facebook message, call, facetime, etc.
True, although Facebook had the college crowd to build on. Assuming the new competitor doesn’t have that, how do they get past the chicken-egg problem? I agree absolutely, a self-fulfilling feedback loop is essential. (I think it’s the right word ). I don’t know how to solve this problem, yet – that’s the main reason I posted this topic, to get ideas for a future startup.
Flipping the phone concept on its head is super interesting. That could be an app, one that integrates with all the other apps and lets you search people. I hear you though, it needs to be built into the phone’s operating system, needs to be at a front-and-center position rather than yet another app.
lol you like Circle way too much. @kien too. I hate it.
It’s possible it will just break apart to a more decentralised model, instead of having 1 dominant player. Certain features like privacy and more customisable profiles are something that more and more communities are looking into. Not to mention nowadays you gotta pay to reach the audience which pushes people away.
WeWork’s social platform is interesting - almost all posts are work related.
It’s possible as community based business models develop further we get specialised networks that integrate with one another, imagine something like loyalty programs between airlines, e.g. you are a member of 5 star alliance, but you get access to numerous services.
For facebook I haven’t seen that many projects, I saw a decentralized version of Instagram https://bitstagram.bitdb.network and for twitter I think Blockstack has a few apps like this… but it still remains a very open question. Facebook is switching to more chatrooms rather than public feeds.
An intelligent chat app with a built-in social network perhaps? WeChat style
Was just watching this video about facebook new currency : https://www.youtube.com/watch?v=Zmf7Kd64TBo. I recommend it, very informative
Ok, looks like people in this thead are really old. congratulations! we are the past. and FB is actually not a major soc.network for generation that can go and marry if they want(its legal).
Facebook as in Facebook company or Facebook product?
I seriously think facebook may fall on its own weight. Lately with introduction of increasingly diverse features, their core app experience is quite below the bar. I also wrote it on one of my HN articles.
They got everyone addicted, right. But they are dealing with generation that is newer than when they achieved their current growth - the only waiting is for a worthy competitor.
They own Instragram and Whatsapp, yes, but those features are small, hence, easily replicable compared to rest of the ecosystem of facebook.
Not quite cool to be doomsayer, but history is replete with many giants (IBM, Nokia, Yahoo) - technologically much more advanced than Facebook (in their respective time) who thought they were irreplaceable… everyone knows that either they reinvented themselves or died…
facebook will replace by itself (instagram) no one can replace it.
Who uses Facebook now?
Mark Zuckerberg is going to step down from the administration. So people would like to see a person that can regain the the trust of the people. Another option is the end of the social networks.
How about minds. Com?