Here is a pessimistic take on Facebook from Michael Wolff.
“Facebook is not only on course to go bust, but will take the rest of the ad-supported Web with it.”
The theory is that with ever-declining CPM—cost per thousand ad impressions—Facebook will become the next Yahoo or even AOL. Give its size, it will glut the market and bring down the ad-driven model of the Web.
If this turns out to be true—and it is certainly plausible—we wonder about the inexorable pressure such a meltdown would exert on the company to sell out the remnants of our privacy.