The current financial crisis is stirring the social network pot, allowing some to rise to the top (or perhaps more appropriately, not to sink so low.) A long list of yesterday's wonder-sites such as Hi5, LinkedIn, Jive, Pownce, and Value have either scaled back, been sold or shut down entirely. The winners, who still may or may not weather the storm, are Facebook, MySpace and Twitter.
Bottom line: Money makes the world, and the Internet, go round.
Implications - But the thing about the Internet is that it's viral and cyclical. There are certain sites -- Facebook, for instance -- who seem to have carved out a valuable niche in the psyche of Generation Yers. It's hard to imagine them not succeeding. The other companies? I'd say they're at the mercy of changing Internet emotions.
Social Networking Oversaturation
More Stats +/-
Social Networking for Beautiful People
Digital Social Networking Business Cards
Social Networking for High Society
$73,000 Facebook Profiles
Retro Lifestyle Sneakers
Free 2018 Report & eBook
Get the top 100 trends happening right NOW -- plus a FREE copy of our award-winning book.
Our Research Methodology
This article is one of 350,000 experiments. We use crowd filtering, big data and AI to identify insights.
Financial Crisis Forces Site Shutdowns
- By: Alex CovertDec 13, 2008 Updated: Aug 11 2011