Just call it 'Fakebook'?
Facebook estimates that it has 83 million fake accounts, which is higher than what it had pegged in the past.
The good news is that Facebook's own estimates, which come from the company's 10-Q, are relatively positive. The company believes that it has 872 million real users (via Mashable). This is a very impressive number.
However, it also means that Facebook is overwhelmed with 83 million fake accounts, or 8.7% of total users.
Facebook defines these fake accounts in a handful of ways:
- Duplicate Accounts, defined as "an account that a user maintains in addition to his or her principal account." These make up 4.8% of total users.
- User-Misclassified Accounts, which are produced when a user creates a personal profile for a business, organization, or non-human entity (such as a pet), make up 2.4% of total users.
- Undesirable Accounts, which are often used for spamming, make up 1.5% of total users.
For a company that claims to have 955 million members, the number of fake accounts is particularly depressing. The number is also much higher than that of fake users that Facebook estimated it had during the last quarter (40 million to 50 million).
Facebook has been struggling over the past two weeks. Since July 26, company shares have lost more than 45% of their value, dropping from $29.34 at market close on July 25 to $20.88 on August 1. Facebook fell another 4% Thursday to close at $20.04.
In June, comScore (SCOR) attempted to prove that Facebook offered an efficient ad platform by releasing the results of a widespread study. At the same time, Ford (F) and Coca-Cola (KO) pledged their support for the social network.
One software startup raised questions about phony Facebook accounts this week when it found that as many as 80% of the clicks on its ads appeared to be coming from bots.
Facebook is such a sham it's amazing that it wasn't apparent to more people way before the IPO. Subscribers have been brainlessly duped into providing a wealth of personal information to be packaged and sold to advertisers, marketers, the government, etc. Meanwhile, their blind trust and opt-in to the EULA is constantly being barraged by invasive changes to the privacy policies and creepy changes to the user interface.
A whole generation is growing up with no comprehension of the idea of personal privacy or boundaries. The leading edge of this generation is already becoming aware of the downside of putting their lives on public display, including unflattering youthful...ermmm...indiscretions, that have cost them jobs during interview screening processes---years later.
- Facebook has no tangible product ("vaporware")
- A significant shortcoming is the limited shelf life of the personal information it has mined
- It is fad-based, subject to user fatigue, and has no significant barriers to entry for challengers
- The model has not proven out value-added for advertisers
- It is weakened by its lack of a cohesive growth strategy and functional mobile platform
The primary demographic (teenagers and young adults) have already been saying for months, "Facebook is over."
Stock value $10-$15/share before year end.
Yeah, maybe Facebook IS a fake, but when the Feds show up to read him rights, slap on the handcuffs, and he gets to do the "perp walk", Mark Zuckerberg will find out that it's all too real.
Yeah, maybe Facebook IS fake, but when the Feds show up at Facebook HQ, the handcuffs and "perp walk" will be real enough for Mark Zuckerberg.
how can that be? <---sarcasm.
I call it SPACE BOOK & MY FACE. But FAKEBOOk is good too.
**** is worthless, a waste of time, and counter-productive for everyone.
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