Facebook! Who hasn’t heard of this media giant? Facebook has been in the news ever since its inception back in Mark Zuckerberg’s dorm at Harvard. Initially, a sole proprietorship, which is when one person owns 100% stakes in his/her company, the company grew extremely fast, and as Facebook grew Zuckerberg needed more capital. He then turned to his dorm-mate Eduardo Saverin. Saverin and Zuckerberg then turned the company into a partnership and as the company continued to become successful. Facebook grew bigger and bigger. So big that the company became publicly trading company hosting its IPO on Friday, May 18, 2012. Since then, the multi-billion dollar company has had massive influences on our popular culture. However, has Facebook become …show more content…
It has flourished in the world, from the United States where it started in southeastern Asian countries like the Philippines. The simple interface as well as the ability for anyone who has the internet to use it, has proved helpful to connect people outside of North America. However, with this connectivity that Facebook offered it has caused several countries in the world to ban the site entirely. In China Facebook has been banned. This will incredibly affect its ability to become a monopoly as they are losing over 1.4 billion potential users due to the nation banning the site. The ban on Facebook has effectively created a social media superpower in China with sites like WeChat and Ren Ren both having a significant power in the Chinese popular culture with the two sites almost having a combined total of 1 billion active monthly users. Facebook indeed can’t be a monopoly if ¼ of world’s internet accessing population is using a different site. This continues to show the ongoing trend reinsuring the world that Facebook is not the only shark in the social media …show more content…
The law states that technology will only grow exponentially. With this understanding of the increase in technology. It will only prove that bigger and better technology will innovate pass Facebook. A great example of innovation passing a giant we don’t have to look far. 13 years ago MySpace was the world’s most popular social media site. However, due to the sites growing issues of connectivity due to the site requiring an anonymous pseudonym rather than using a real name. Facebook quickly adjusted as they encouraged people to use their real names and this innovation made it destroy MySpace. Facebook had surpassed MySpace active users per month by three times. It is only a matter of time that Facebook will become MySpace and get beaten out by its future innovators. With this said, the growth of technology, a future program will eventually pass Facebook at the top of the social media industry. It is impossible for one program to rule over a whole digital industry in the 21st