Stoffa: Facebook stock drops as coolness departs
May 24, 2012
Facebook stock went public recently, and it has been dropping since. In the weeks building up to the release, the value was being pushed and prodded and paraded around by those in the know to attempt to achieve top dollar as trading hit.
Those efforts pushed the stock into an inflated value. Whereas folks who sold early made some funds, those still holding stock watches as it continues to drop each day; its high point in the last week was $45 while the current low is $32, with some predicting it going as low as $25 in the near future.
Stocks jumping and dropping is nothing new to the market, but Facebook is an interesting bit to evaluate.
Facebook was initially designed to play up to people’s desires to be included in an exclusive group. Being part of something that others desire to be a part of is that basic sense of accomplishment almost every person seeks throughout their life.
As all early Facebook users know — by “early” I mean when you still had to receive an invite from an email tag of merit — being a part of Facebook was cool, and an interesting way to let people into your party habits or other random bits of social life. Now everyone has access to Facebook, and the topics are anywhere from awesome to awful.
With the inclusion of folks outside the upper food chain of cool, Facebook has become a landscape of updates about pregnancies, inane parental comments, job openings and obnoxious bickering about topics no one cares about. Thankfully you can block all of those people from appearing in your feed so as to avoid the annoying questions of “Why did you de-friend me?” that might come with deletion.
The opening of Facebook stock to essentially any and all has made Facebook even less cool. Whether this has anything to do with the current drop in stock value, which is unlikely, it might in the future.
Facebook is simply a social media site now. There is nothing exclusive left to it. Being available to everyone is nice and all, but cool is a fickle factor. The neatest thing — note “neat” not “cool” — now available from Facebook is the novelty idea of buying Facebook shares to give away as X-mas presents.
The future of Facebook as a popular website is not one that is likely to come to a crashing halt, but it is going to continue to become less and less cool; downgrading to other random words that have variable meanings based on trends in pop culture.
Facebook is already showing advertisements for products that most of the folks who see them don’t care about or cannot afford, but that is advertising almost anywhere.
Alongside the sponsored advertisements on the side of your page, you get the business ads in your feed disguised as status updates by friends.
The annoying invitations to play useless yet time-consuming games; the music service letting you know your friends are listening to music you will either ridicule or compliment them for; the links to photos that ask you to sign up for apps and other such junk you don’t really want; all of those factors, and more, add up to the lack of cool that Facebook was originally meant to be.
But then again, big ol’ bags of moolah can turn anything cool marketable and then into a pile of steaming crap left over to be kicked about by the masses. Luckily, something else cool always comes along to start the cycle all over again.
In the end, Facebook will most likely be around for the next long while — long being a relative term due to the nature of popular things and new technology.
But Facebook becoming something that anyone can own a piece of was the last straw that broke another cool thing’s back and left it lying, slowly dying, for the masses to make into a mockery of its once aristocratic majesty.