Facebook At The Center Of The New Economy

Description

A new generation of web developers and marketers are already doing on Facebook what I believe many people will be doing in the next 3-5 years. To put it simply “running their own business” on Facebook.

These developers build apps such as games, widgets, utility and productivity apps on the Facebook platform that can be consumed by millions. They are often 1 or 2 person operations to large ones like Slide and RockYou.

They develop apps that they would use, which usually solve a very specific problem or have some other utility for a large number of people. Given that the Facebook platform has 175 million users and growing, chances are there are possibly many others that might have use for that application.

One such company is The Broth , Ben Wan, VP Sales says that the entire eight person operation is supported by apps on the Facebook platform. They make apps that will appeal to many people. The company monetizes the apps in many ways such as pay per use, pay per download, virtual currency, sponsorship, subscription and advertising.

Now the bigger picture - the web is very much like Facebook but without the rules. The rules in some sense is good because it places boundaries on what can and cannot be done. On the web anything goes but that is why everyone one has a chance. So the web can be leveraged by people very much like developers are leveraging the Facebook platform.

The new economy will be fluid and resources will find its way to the most efficient providers. So how do you become one of those efficient providers. Remember efficient does not mean low cost (it could) and it can mean the best (due to specialization) which is usually expensive.

An example would be search engine ...

Original URL

http://www.webguild.org/2009/02/facebook-at-the-center-of-the-new-economy.php

http://www.webguild.org/2009/02/facebook-at-the-center-of-the-new-economy.php