Social Monopoly: How Facebook Created a Market Without Competitors
Even for those of us who have been on Facebook since it was a collection of exclusive school networks, it's hard to imagine the site without its news feed, status updates and signature "Like" button. But the mechanics that make the social network so disgustingly addictive were surprisingly late additions to its host of features.
I remember when pretty much all you could do on Facebook was post on people's walls and look at their pictures. Somehow, I get the feeling that Zuckerberg and company had many of Facebook's current features in mind from the beginning, only rolling them out gradually to secure momentum and increase signups. Now that Facebook has become a central component of maintaining an online identity, it seems the need for the company to improve upon its product has dwindled. There's not really much more Facebook can do to fuel our manic social consumption. But will they ever fall from their towering monopoly on social media?
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