Facebook is a Ponzi scheme. [via]
Have you ever bought a Facebook ad? I have. I have talked to many, many people who have. We have spent hundreds, many have spent thousands or even more, experimenting with Facebook ads. They are worthless. Nobody ever looks at them, and nobody ever clicks on them. I just talked to someone who was trying to promote a book. He found it cost him over $100 in ads to sell one book. Moreover, as you increase your ad spending, people get used to the ads and just ignore them. So, your already low click-through rate plummets even further.
Just last night a friend who is not on Facebook said he’d sign up for whatever replaced Facebook. My response was that I didn’t think anything would replace Facebook. And I think I meant it. Barring any serious missteps, Facebook might actually be too big to fail. If privacy didn’t bring them down (or even slow them down), what will? That being said, I’ve seen how bad those advertising numbers are first hand. Ouch.