Following I hate Facebook Page 64

  • craigy Staff 16 May 2012 10:56:27 9,285 posts
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    I'd like to know more about the beastly GM marketing spend, specifically which demographic groups they were targeting their adverts to. They probably blanketed every demo and ended up wasting their money advertising Cadillacs to thirteen year old girls.
  • DaM 16 May 2012 10:59:05 17,058 posts
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    I'm getting my business valued at the moment. At a very rough estimation, we are looking at 3-5x post-tax profit. FB is being valued at 100x profit.

    The click through rates show that FB users are clicking FB ads at half the rate they do on other websites, almost a 10th of the rate they do on google. Their current ad model does not work well enough to justify the 100bn value.

    Do they have a system where FB adds will appear on sites where you login with your FB details? They need something like that, but it's not going to reach the coverage that adwords gets, as it is so easy to implement for website owners.
  • craigy Staff 16 May 2012 11:07:26 9,285 posts
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    I agree that the valuation is massively inflated, but there are still solid profits on show. $1B annual is not to be sniffed at.

    Comparing it to Google's 6B annual profits makes Facebook look like it's under performing. It's a bit more complicated than that, though.

    AdWords only accounts for 27% of Google's total revenues, which means they make roughly $1.6B from adverts. So Facebook are only half a billion behind Google in terms of profits generated from ads, even though their CTRs are lower.
  • craigy Staff 16 May 2012 11:25:31 9,285 posts
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    They could always buy Myspace :D
  • Load_2.0 16 May 2012 11:49:21 26,394 posts
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    Why doesn't EG buy Myspace?

    Too busy swimming in your vault of cash, wearing top hats and buying XT Angust Steakhouse burgers!
  • Tonka 16 May 2012 11:54:34 27,657 posts
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    @craigy I hope GM has someone with a clue working for them. With that kind of money and all those years being a top ad buyer they must have. Surely?

    The problem as I see it (and I suspect this is what GM also realized) is that buying ads on facebook is like paying people to be your friend.

    Now they will focus money on making stuff that is remarkable enough that people will spread it on their own (thereby adding credability to it)
  • DaM 16 May 2012 12:38:01 17,058 posts
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    Yes, they have made a billion profit - but to justify the valuation, they would have to be able to expand that significantly.

    I'm not buying any :)

    I think a lot of advertisers are hoping the "like" thing is going to take off.
    If you buy a product and "like" it, or like a product as a recommendation, then apparently it has more of a positive effect on your "friends" that positive reviews.
  • Deleted user 16 May 2012 12:50:19
    Bugger it does for me.
  • RockyMotion 16 May 2012 12:55:59 11,741 posts
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    I hate Facebook. It destroys your privacy. Your social life becomes an open book for all to see. People don't need to befriend you to find out who you're friends with, who you're dating, to see your photos and conversations with other people, and so on.

    I don't see what's so social about this network. In past years "social life" meant getting together with friens, hanging out and talking in person. Socialization happened in real life. Now it's all about Facebook for some people.

    Besides, it enables all kinds of sad behavior. People getting pissed because of relationship statuses. Attention whores. People who beg for "likes" to boost their ego. It's pathetic.
  • glaeken 16 May 2012 13:15:14 11,893 posts
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    There is a very easy solution to hating Facebook.
  • Razz 16 May 2012 13:22:05 63,427 posts
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    I'm not a Facebook apologist, but in regards to the social aspects, I've found it useful as a supplement to those things and not a replacement. In fact I've found I've been able to hang out with a wider range of friends due to facebook. The privacy concerns are valid and I agree for the most part, however, you can control what other people see about you. You can even become comlpetely unlisted and the only way people know your on facebook if you add them.
  • DaM 16 May 2012 13:35:31 17,058 posts
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    I use it for political and community stuff I'm involved in. It is good for getting a message out quickly to a certain demographic. Should really use it more for business (just for SEO), but it's a bit tricky at the moment (hence the valuation :) ).
  • KnuttinAtoll 16 May 2012 15:11:43 5,515 posts
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    Was/still sometimes on the hate wagon but my stance towards it improved once I started hiding certain friends' updates. In fact out of the roughly 100 people in my friend list about 5-10% kept spamming my news stream with mundane updates ("I am now going to bed!", "" and so on) and/or game stories or youtube links. Once all those were hidden it's a much cleaner and less irritating experience now. Game stories sometimes still crop up though despite me blocking the lot of them, not just specific apps/publishers.

    What I don't like is FB seemingly prioritising posts of certain users (usually the ones I really don't care about) over others. So once I hide some people's updates, the stories of others suddenly started to pop up. Not sure what all that is based on as I'm pretty passive on FB myself, i.e. I don't do anything significant enough to tell FB to show A's posts over those of B (at least I would think so).

    Edited by SYS64738 at 15:12:44 16-05-2012
  • Syrette 16 May 2012 15:30:14 49,784 posts
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    You can just change it to 'Most Recent' not 'Top Stories or whatever it is' can't you?

    Edited by Syrette at 13:28:10 19-05-2012
  • KnuttinAtoll 16 May 2012 16:27:43 5,515 posts
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    To be honest it could well be an option I have selected without realising it but I noticed a couple of times that if say person A posts a comment, and person B posts a comment at roughly the same time, I might not see B's comment until I hide A's posts. Especially annoying if A is one of those that keeps posting garbage (i.e. the reason for eventually hiding A).

    I do see updates of people that never really show in my primary news feed in that little mini stream (?) on the top right corner sometimes though, but can't be bothered with using it as it's pretty awkward to use on my android tablet. Why not just show them in the main stories list?
  • Deleted user 16 May 2012 21:35:56
    Facebook is there for narcissists and extroverts to show off, because normal interaction isn't enough for them. Should be grateful for it I suppose, it drains them a bit.

    On the subject of facebook, you have to be careful on eurogamer, even if you are not signed in here with facebook. Craigy has left traps everywhere so with one fudged mouse click you might accidentally 'post to facebook wall' or 'like' something, thereby exposing your forum identity.
  • crashVoodoo 19 May 2012 13:23:36 5,734 posts
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    So this IPO didn't go as well as planned then it seems with various sites remarking that's its all one big cash grab before bailing ...
  • KnuttinAtoll 19 May 2012 16:05:07 5,515 posts
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    Yeah almost would seem it was just for the purpose of making FB employees richer. Saw a report on the telly the other night how they're splurging on million dollar homes (incl. bidding wars) and luxury cars over in Silicon Valley. All cash only transactions of course. One estate agent apparently made sales of well over 100m in just a few weeks.

    To me it just feels a bit wrong if a company that does nothing more than providing a posting update website is valued more than the likes of Amazon and BMW (regardless of the fact it is obviously very successful, if just in terms of members). Looks like another bubble in the making.
  • Deleted user 19 May 2012 17:10:21
    Just in case we didn't need a reason to really hate Faecbook in the first place

    /typo, I know, but I'm leaving it, as it seems rather apt ;p

    Edited by tincanrocket at 17:10:42 19-05-2012
  • Deleted user 19 May 2012 17:16:00
    Facebook is good for torturing your enemies, with your happy and perfect life.
  • Dougs 19 May 2012 17:16:24 85,224 posts
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    Its not just an update website though. The information that users provide, willingly or otherwise, is very valuable to advertisers.
  • Nitrous 19 May 2012 23:12:45 1,649 posts
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    I keep being asked at work to get myself a facebook account. Why i have no idea as I think its a waste of time! My X girlfriend wanted me to get an account and I always said not a chance and I stand by that today!
  • KnuttinAtoll 20 May 2012 01:10:11 5,515 posts
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    Dougs wrote:
    Its not just an update website though. The information that users provide, willingly or otherwise, is very valuable to advertisers.
    GM appears to disagree though.
  • Deleted user 21 May 2012 16:23:43
    Share price down 10% in the first two hours of trading. Who'd a thunk it :D
  • Deleted user 21 May 2012 16:27:06
    A serious history of hype needs to be written.
  • DaM 21 May 2012 17:32:05 17,058 posts
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    I'm sure there are books about the last .com bubble.....
  • senso-ji 23 May 2012 17:01:38 8,278 posts
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    Barely a week of trading, and Shareholders are already suing
  • Syrette 29 May 2012 23:47:39 49,784 posts
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    What's with this 'Seen' shit on Facebook messenger?
  • Deleted user 29 May 2012 23:48:14
    I didn't think anyone actually used Facebook messenger, so Christ only knows.
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