Facebook Sells Out to Advertisers

Facebook gave a half of one percent of equity in the company in exhange for $10 million in advertising, according to ZDNet.

That translates to Facebook being a $2 billion company, not bad for a company that isn't even close to the top of its field. Is the company that desperate for advertising that it has to sell off shares?

Social networking for kids will be a fad as safety concerns are going to diminish their use. There will be a few survivors, but most of these companies will be the Pets.com of the 21st century.

However, social networking for adults has more potential. LinkedIn should be upgraded to include classifieds and job listings. People could hire and sell to trusted friends, and LinkedIn could take a cut as advertising dollars will only get you so far. Members should be able to search for concert tickets, travel buddies or freelancers, and connect one level deep through all connections.

Think Craigslist and eBay and MySpace all rolled into one.