Fascinating op-ed in the New York Times regarding how Facebook makes money off us and our data.
They currently make one cent for every hour each of us spends on there.
I would certainly be happy to pay Facebook 20 cents a month in order for my data and privacy to remain intact, and to be a customer rather than a product.
The problem with Facebook and other such sites, is that we believe they are free, when actually we are paying for them with things that are often more valuable than money itself.
Interested to hear whether people feel I'm wide of the mark on this, keep thinking that I must be missing something in order for it to justify this type of valuation.
I have a few more details on it (I wrote the linked article)
Coca Cola invested $10M back in 2012 as part of a $100M round.
I know that before they invested, Coke and Spotify had an existing partnership including integrating Spotify into Coke’s music websites and Facebook page.
At the time, the Director of Global Entertainment at Coke said:
“Music has always been a huge part of Coke, I think since 2008 or 2009, you've seen us ramp up from the global perspective, and I think Spotify is the next evolution of Coca-Cola music. It's going to be interesting to see how Spotify accelerates our global music strategy, and how the brand can facilitate that conversation where people discover music and share it amongst each other.” (from an article on AdWeek)
The thing is i'm not sure that TransferWise are a 'Unicorn' yet. 'Close to $1B' is not '$1B'.
I know 'Close to $1B' is not as sexy as a mythical creature but if we're going to set these arbitrary classifications then let's at least stick to them.
Using Kickstarter again to add and improve on the product after a previously successful campaign is a strong strategy, interested to see if they can replicate their initial success.
Yeah I thought that was the case for games. The product in question however is a big data/intelligence tool. A 'founding customer' deal was what we were considering, a heavily discounted price for a years subscription and to join a closed beta. Just wondered whether charging for closed beta was a generally accepted thing or whether we would be laughed out of the park.
The "alternative" refers to the fact that it is not just an overview thats been copied and pasted from the S1 form, but more a speculative look at what the information detailed implies for their future.
It is harder to measure productivity, but surely even implementing a measuring system that was less than perfect would still be more beneficial to them.
The crazy thing is there are a lot of jobs in major corporations where you could do them over and above the expectations in 10-15 hours a week, whereas you are contracted to sit there for 40. This is a waste of resources in so many ways, and really needs to be addressed.
Unfortunately, I don't think they would either, however I believe that corporations are really missing a trick in terms of getting the most out of their employees.
They currently make one cent for every hour each of us spends on there.
I would certainly be happy to pay Facebook 20 cents a month in order for my data and privacy to remain intact, and to be a customer rather than a product.
The problem with Facebook and other such sites, is that we believe they are free, when actually we are paying for them with things that are often more valuable than money itself.