Is Facebook taking over the world?

Recently valued at $65 billion, Facebook has transcended beyond a social network, or a business: it’s become a global contagion – the 5th estate.

According to  Facebook’s statistics, users install 20 million applications a day, 250 million people engage with Facebook on external sites 2.5 million websites are integrated with Facebook.

It seems having a Facebook account has become compulsory nowadays. If you ask most users why they use Facebook, the usual response is ‘because all my friends use it.’ Facebook is the monopoly of social media.

But is this right?

Most users are unaware that once they upload a picture onto their profile, they forfeit ownership of that image to Facebook (this may pose a dilemma for aspiring photographers!).

Facebook also provides a qualitative market research goldmine. Users are encouraged to disclose as much information about themselves, even what languages they know. The check-in feature adapted from Foursquare now means users can share virtually every move they make!

Not a day goes by when I don’t check my Facebook account at least once and I imagine most users are the same. Perhaps Facebook’s widespread success is down to its game dynamics: the more users interact with the website, the more rewards they get i.e. more friends/likes, more comments and engagement from other users and a bigger online presence or branding.

Zuckerberg (probably) isn’t a super villain on an evil conquest to take over the world, he just managed to innovate a service that people all over the world are attracted, and in some cases addicted too.

Once a Facebooker, always a Facebooker.