This chart says it all. A new study discovers that the vast majority of Facebook apps are an utter waste of time. But oh yeah — Facebook is worth $9 billion, or $15 billion. And Slide is worth half a billion because it makes that super important FunWall application. Um, right. Kids, let’s face it. Facebook is Webkinz for adults. Facebook is a Ponzi scheme. A handful of VCs have created the illusion of an actual market by funding apps companies and then doing deals with each other — passing cash back and forth among to make it look as if money is being made.
– The Secret Diary of Steve Jobs: The problem with Facebook
Posted on Saturday May 3rd
