Great post on China Vortext regarding the Facebook Beacon service:
Let me put it this way, I don’t think that there is a way to value social networks, even though this is what advertisers would very much like to see happen. And the reason that social networks cannot be valued in a top-down/corporate/advertising way is because they are entirely subjective and dynamic according to each individual at any given moment in time.
That is why it doesn’t matter if Facebook owns all my data; if I no longer go there, it’s dead, out-of-date data. My data is only valuable as long as I’m active there.
Paul goes on to relay a system that he believes (and I agree) would add value for businesses, while creating a more opt-in-get-paid system for users. Will Facebook and its ilk ever get on board? Or will they try to milk their free user base for as long as they can.
Personally, I think Facebook is going to go down harder and faster than a MySpace made of lead – but that’s another post.