'Facebook will disappear in 5 to 8 yrs like Yahoo, AOL': Analyst
Washington, June 6 (ANI): Facebook, which is currently the world's most popular social networking site, will 'disappear' in the next decade, an industry analyst has predicted.
Eric Jackson, founder of Ironfire Capital, claimed that Facebook would follow in the footsteps of former tech giants AOL and Yahoo in the years to come.
According to The New York Daily News, Jackson said the social networking giant would slowly fade from the spotlight after its big bang success.
"In five to eight years they are going to disappear in the way that Yahoo has disappeared," Jackson told CNBC News.
"Yahoo is still making money, it's still profitable, still has 13,000 employees working for it, but it's 10 percent of the value that it was at the height of 2000. For all intents and purposes, it's disappeared," he added.
According to the report, Jackson pointed out that the next wave in tech will be defined by mobile, and Facebook is having a hard time transitioning into the new era.
"Look at how Google has struggled moving into social, and I think Facebook is going to have the same kind of challenges moving into mobile," the paper quoted him, as saying.
Jackson also argued that Facebook's success won't translate into the future because 'it is not nimble enough to change gears'.
"The world is moving faster, it's getting more competitive, not less, and I think those who are dominant in their prior generation are really going to have a hard time moving into this newer generation," he said.
"Facebook can buy a bunch of mobile companies, but they are still a big, fat website and that's different from a mobile app," he added.
Eric Jackson, founder of Ironfire Capital, claimed that Facebook would follow in the footsteps of former tech giants AOL and Yahoo in the years to come.
According to The New York Daily News, Jackson said the social networking giant would slowly fade from the spotlight after its big bang success.
"In five to eight years they are going to disappear in the way that Yahoo has disappeared," Jackson told CNBC News.
"Yahoo is still making money, it's still profitable, still has 13,000 employees working for it, but it's 10 percent of the value that it was at the height of 2000. For all intents and purposes, it's disappeared," he added.
According to the report, Jackson pointed out that the next wave in tech will be defined by mobile, and Facebook is having a hard time transitioning into the new era.
"Look at how Google has struggled moving into social, and I think Facebook is going to have the same kind of challenges moving into mobile," the paper quoted him, as saying.
Jackson also argued that Facebook's success won't translate into the future because 'it is not nimble enough to change gears'.
"The world is moving faster, it's getting more competitive, not less, and I think those who are dominant in their prior generation are really going to have a hard time moving into this newer generation," he said.
"Facebook can buy a bunch of mobile companies, but they are still a big, fat website and that's different from a mobile app," he added.
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