Mark Zuckerberg, Facebook's chief executive says “We think it’s an important next step to help tell the story of your life”. He introduced the new features at Face book and named it as “rethink some industries”.
As face book plans to sharpen the battle lines between the social networking giant and Google, today’s search Giant since face book tries to change the way people use it. Face book tries to change its effect from sharing information with friends to that of from friends to searching of information (content). Where as, Google+ a social network product of Google, is far behind Face book.
"This is two big rivals getting into each others' backyards," said Sean Corcoran, an analyst with Forrester Research. "It changes the game for what social networks have been doing.
Erik Brynjolfsson, a professor of management at the M.I.T. Sloan School of Management says "As Face book becomes more and more synonymous with the Internet experience, which is going to benefit Face book shareholders". Face book successes at gathering a giant share of people’s time and attention. The company’s challenge in the up coming years is to convert that dominance in time and attention into a bigger share of consumer’s wallet i.e. a bigger share of money they spend either directly on Face book or indirectly through advertising.
Netflix demands to subscribe the users to watch its video on Face book. On the other hand, its plans face a stumbling block in Washington. A law called the Video Privacy Protection Act prohibits the release of information on what movies a person is renting. That law would have to be lifted in the United States.
The changes raise a fundamental challenge for Face book on “can it be all things to everyone?” Today Face book users mostly some share their thoughts and information with a small group. Where as others will be completely open.
“Face book desires to be an omnipresent in its web experience by adding commerce, Video and mail to their early successes with news feeds and picture tagging to it” said Jodee Rich, founder of people browser based in San Francisco, who analyzes data from social networks.
