Rupert Murdoch pokes fun at Facebook’s falling usage

Rupert Murdoch has compared Facebook to Myspace, suggesting the fall from grace for the social network could be already beginning, poking fun at the falling time spent by the average user through his Twitter account.

“Look out Facebook!” begins the Tweet by the BSKYB owner. “Hour's spent participating per member dropping seriously. First really bad sign as seen by crappy MySpace years ago.”

Of course he should know about MySpace, since his corporation bought it up in 2006, managing it through its peak value of $12 billion and into its decline, where it was eventually sold for $35 million in 2011 – a substantial loss from the $580 million that was paid for it.

Chances are Murdoch was simply trying to make a gag at the expensive of Facebook, but his warning has some truth to it. If Zuckerberg and others at Facebook were to leave now, they'd be getting out with billions of dollars. I think everyone would be surprised if they did, specifically the top dog himself, but if Facebook is indeed in decline, it may never again reach its peak.

If you look are share prices alone however, Zuckberg should have left right after the initial Facebook IPO. It was initially floated on the stock exchange at $38 a share, valuing the entire company at $104 billion. Since then shares have fallen quite far, hitting a record low of $17.73 in September last year before making its way back up to around $26 recently.

KitGuru Says: What do you guys think the future of Facebook is? Will it fall from grace like so many websites have done before? Or will it soldier on forever, like a Google or Amazon?

[Thanks Telegraph]

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