Facebook Gets Booked
turbotodd 100000388Y Comment (1) Visits (3391)
Every time I catch a flight from Austin to NYC, or NYC back to Austin, some dramatic news is announced...or almost announced.
And I'm not talking about the kerfuffle around Iranian President Mahmoud Ahmadinejad at Columbia University (Remind me never to get introduced anywhere by Columbia University President Lee Bollinger. Ouch!)
No, I'm referring to the story from The Wall Street Journal, and subsequent punditry in other parts of the blogomediasphere, that Microsoft was considering taking a significant stake in Facebook (up to 5%, according to the story).
Doggonit, and I was just getting to liking Facebook, too.
According to the Journal article, there's nothing less than the critical leverage point for the future of advertising online at stake:
"Whoever controls the technology platform for buying and selling online ads could hold tremendous power over the Internet industry for years to come -- much as Microsoft was able to use its Windows operating system to shape the personal computer."
Wow. And I just thought it was a really cool place to conduct surveillance on my online friends and tell everyone "Todd is not an ambassador attending the UN General Assembly while he's in NY this week, but he did stay at a Holiday Inn last night."
Didn't I mention a couple of weeks ago that Facebook would, in so many words, be providing the Internet Attorney's Full Employment Act of 2007 due to all the legal issues surrounding its business?
For example, yesterday's announcement by the New York Attorney General's office that it was subpoenaing Facebook about how it protects its users, particularly those under-age, after a recent undercover investigation suggested Facebook's advertising and statements to users about the safety of its site are "materially misleading."
And heck, all that before I even knew the Microsoft /Facebook M&A and anti-trust attorneys wing might have to be bolted on.
Hmm, maybe I should go to law school, after all.