It almost pains me to use MySpace in the title, seeing how much I dislike the service.  In any event, there is something to be said about Facebook’s new “direction”, and how they may be moving towards a product offering similar to that of the mighty content clusterf–k, otherwise known as MySpace.  I’m talking more specifically about Facebook’s recent polling of its users regarding vanity URLs.  It appears that Facebook is entertaining the notion of offering its users customized Facebook URLs.  So, for example,  instead of the very forgettable Facebook profile page of:

facebook.com/home.php?#/profile.php?id=11324937&ref=name we will likely see:
facebook.com/kevinpruett

In fact, Facebook has already dished out a select number of vanity URLs to businesses and individuals (see facebook.com/barackobama).  Point being, this is just one necessary step that Facebook must take in order to become a more open service.  A service that didn’t seem all that likely a few years ago, when they were competing for users with MySpace.  Of course, vanity URLs are not a new concept.  Many web services today offer its users a customized URL on their prospective profile page.  But in Facebook’s case, switching to this type of network structure holds greater meaning than you may think.

While MySpace implemented a relatively open and horizontal structure, Facebook represented a much more closed-off, vertical hierarchy; operating behind sub-networks and various levels of privacy.  In the end, Facebook emerged the victor in the social network war by developing a better and more interactive network.  It is no coincidence that Facebook has acquired 200mm+ users in just a few short years.  They are simply the best social network in existence.

But to keep up with the rapid movement towards transparency on the web, Facebook will have to tweak their service.  In doing so, they may end up becoming a bit more like their rival network.

Facebook…Tear Down This Wall

I wrote a post entitled “What Twitter Has That Facebook Doesn’t.”  The post talked about Twitter’s ability to operate transparently, and how it essentially knocks down all the barriers (the barriers Facebook has) to communication.  I ended the post with the following comment: “I can see Twitter accounts being distributed as commonly as email addresses are today — something that Facebook accounts just don’t have the flexibility in executing.”

I believe Facebook understands that in order to facilitate even more conversation and interaction, they must tear down some walls.  The vanity URL topic falls in line with this agenda.  As of late, we have all seen Facebook’s ability to “borrow” features from other web services.  We also know that Zuckerberg and Co. are not afraid of changing the face of their product in order to achieve their desired goals.

So what can we expect from Facebook in the future?

• Expect to see the service continue to strive for increased transparency.
• Going against there original strategy of operating behind a “walled garden,” Facebook will help user profiles step outside of Facebook into the broader world wide web.  Google juice for Facebook profiles will significantly increase.
• Privacy levels will be affected as this transfer occurs.  Users may opt for a public profile, making their profile (facebook.com/theirname) accessible to anyone, anytime, anywhere.
• Facebook becomes the (micro)blogging platform for the “normal” people.

Do any of these predictions remind you of MySpace’s offerings?  What are your predictions for the future of Facebook?

Myspace has announced that they are on course to achieve $1B in revenue this year. This comes at a time where chief competitor, Facebook has surpassed Myspace in overall web traffic, but is looking at numbers far lower than $1B. In fact, Facebook’s CEO, Mark Zuckerberg has admitted the fact that “cashing in” on social networks is still somewhat of a mystery.

Despite this, Zuckerberg is confident that they will be able to figure it out in the near future. Zuckerberg states, “I don’t think social networks can be monetized in the same way that search did. But I’m pretty sure that we will find an analogous business model. In three years from now we have to figure out what the optimum model is. But that is not our primary focus today.”

I don’t think social networks can be monetized in the same way that search did. But I’m pretty sure that we will find an analogous business model. In three years from now we have to figure out what the optimum model is. But that is not our primary focus today.

So who’s the winner of this social network race? Is it Myspace for being the most profitable social network; or do you give it to Facebook for securing the #1 spot in terms of worldwide web traffic?

While both companies seem to have differing strategies and goals, it is Facebook that will ultimately prosper by capturing the attention and loyalty of users around the globe. In terms of social networks, (connecting with friends, family, and peers) Facebook is unrivaled. Facebook acknowledges this and continues to focus on their core competency, connecting individuals…not necessarily profiting off of it just yet.

Social networks, especially monetizing them, is really unchartered territory. One of, if not the most important factor in a successful social network is (you guessed it!) the size of the network. If Facebook is able to become the largest and most powerful social network (and it looks like it’s heading there), this so-called “network effect” will automatically put them in a position to succeed. Let us not forget, it took Larry and Sergey a few years until they saw Google turning a profit.