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'Open Sesame'

‘Open Sesame’ was a magical term when I was a kid. I passed it on to my kids.

It would be wonderful in today’s world of computers if you could control your information online with a few magical worlds.

Not possible.

When I get on the family computer late at night, I am logged into everything. Facebook, Club Penguin, Twitter. Logging out is not in the family vocabulary.

It used to be you told kids ‘don’t talk to strangers’.

Try explaining any social sites ‘terms of use’ to a 12 or 13 year old.

This week, Facebook finds itself in it’s quarterly shitstorm. It will pass. British Petroleum just ‘oiled down’ half the east coast…even that will pass.

There is good reason for most users to be pissed at Facebook. My favorite rant comes from Dana Boyd . Facebook is pretty evil. I don’t know what people expected, but obviously many thought Facebook would remain Disney Land of data and leave the evil to Equifax and Transunion because you have to give them the information (we do).

Fred Wilson says the ‘middle ground’ is treachorous with respect to privacy .

Me, I have seen pretty much everything on the web, especially since I talk about stocks and money. Nothing surprises me.

Right now, Facebook can cost me a job. Luckily, I have never had to rely on a social network for work. If I did, I think my time in would help me. When Facebook can start kicking me out of my home, even country, I will worry.

Talking to my friend Om Malik for a while this week and he knows quite well the march Facebook is making. They are NOT going to stop. They are the machine. Facebook’s new internal slogan is ‘Washington…we ‘like’ you!

Credit is where Facebook is going and that will be a whole new level of power. For 99 percent of you with bad credit, look at that as an opportunity and start being nice to your Facebook friends.

  • Guest

    the equifax analogy is spot-on. i also think of the facebook profile as the digital driver’s license of the future. it’s no surprise then that it’s inching towards washington now, and i’m sure it will start approaching other nations in due time.

    i think we’re also going to see the huge potential of mobile that everyone has been hyping up for the past few yrs truly play out within this network. they have the data, they have strong carrier relationships, it’s the #1 app across all mobile platforms (or close to it if it isn’t already), it’s intl, and most importantly, the data is socially verified.

    it’s hard to come to terms with this if you’re in the web space b/c it’s changing everything and affecting a lot of startups. some even call it an obstacle to innovation, but i’d argue otherwise. i think about that tom friedman NYT article you tweeted before on america’s capacity to still innovate. i think facebook’s assuming the leadership here for us for the global web infrastructure, similar to how google did for online search and msft did for the personal computer.

    • http://www.howardlindzon.com howardlindzon

      indeed. no free lunch. servers cost money.

  • http://www.ivanhoff.com ivanhoff

    Obviously Facebook is big and powerful. If it wasn’t, no one would care to talk about it. It is a business model based on two of the major traits in human character – curiosity and vanity. As they say in one of my favorite movies: “Freedom, baby… is never having to say you’re sorry”. The question is how free is Facebook.

    • http://www.howardlindzon.com howardlindzon

      facebook was pretty free and now just ‘mostly’ free. if you dont use it properly, it will cost you

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  • http://twitter.com/sayemislam sayemislam

    the equifax analogy is spot-on. i also think of the facebook profile as the digital driver's license of the future. it's no surprise then that it's inching towards washington now, and i'm sure it will start approaching other nations in due time.

    i think we're also going to see the huge potential of mobile that everyone has been hyping up for the past few yrs truly play out within this network. they have the data, they have strong carrier relationships, it's the #1 app across all mobile platforms (or close to it if it isn't already), it's intl, and most importantly, the data is socially verified.

    it's hard to come to terms with this if you're in the web space b/c it's changing everything and affecting a lot of startups. some even call it an obstacle to innovation, but i'd argue otherwise. i think about that tom friedman NYT article you tweeted before on america's capacity to still innovate. i think facebook's assuming the leadership here for us for the global web infrastructure, similar to how google did for online search and msft did for the personal computer.

  • http://www.ivanhoff.com ivanhoff

    Obviously Facebook is big and powerful. If it wasn't, no one would care to talk about it. It is a business model based on two of the major traits in human character – curiosity and vanity. As they say in one of my favorite movies: “Freedom, baby… is never having to say you're sorry”. The question is how free is Facebook.

  • http://www.howardlindzon.com howardlindzon

    indeed. no free lunch. servers cost money.

  • http://www.howardlindzon.com howardlindzon

    facebook was pretty free and now just 'mostly' free. if you dont use it properly, it will cost you

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  • John Kai

    Howard, what do you mean by “if you don’t use it (Facebook) properly, it will cost you”? Thanks.

    • http://www.howardlindzon.com howardlindzon

      i mean I used to accept everyone that friended me and favebook had negative utility because i got all these wmails and facebook notifications from people I did not know. now that i c;eaned it up it is back to being a pretty cool place to check in on.

      • John Kai

        Thanks Howard.

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  • John Kai

    Howard, what do you mean by “if you don't use it (Facebook) properly, it will cost you”? Thanks.

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  • http://upsidetrader.com/ upsidetrader

    don’t EVER knock Club Penguin

  • http://upsidetrader.com/ upsidetrader

    don't EVER knock Club Penguin

  • http://www.howardlindzon.com howardlindzon

    i mean I used to accept everyone that friended me and favebook had negative utility because i got all these wmails and facebook notifications from people I did not know. now that i c;eaned it up it is back to being a pretty cool place to check in on.

  • John Kai

    Thanks Howard.

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