It's all about the money: Facebook & MySpace

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When I got my first invite to Facebook, I thought 'great something else to fill my electronic media life with, that I don't have time for'. But I signed up, and must admit, it has become a regular read, and has helped me reconnect with several people, and extend ways of connecting with friends and new friends, that are exciting, and helpful (including the Deep Church group).

Yet this article on the BBC web site, comparing MySpace and Facebook, that is being picked up by radio talk shows, and national newspapers today in the UK, reminded me that, no matter how useful, and amazing Facebook might be, there are some things to pause and think over (at least for me).

1. Cool: One day soon, Facebook will not be cool, and there will be something new. The measure between Facebook and MySpace seems to always include the word 'cool'. How much does that affect the other areas of life we interact and connect with, do our fickle online social networks form practices and habits that affect how we connect to other networks?

2. Money:It's all about the money. It's amazing what you can do with $37 million of venture capital, with a view to selling Facebook on to some giant media group, desperate to push it's wares and identity through Facebook. The BBC article quotes research that must surely have pushed the value of Facebook higher. Facebook will sell for a very high price, because of the people it attracts, white, middle class, educated, higher earning consumers.