Tuesday, June 5, 2012

Video: Analyst Claims Facebook's Days Are Numbered

Posted By on Tue, Jun 5, 2012 at 12:20 PM

A senior analyst and founder of Ironfire Capital shook up the social network this week when he predicted Facebook's demise.

Eric Jackson said on CNBC's Squawk on the Street that he believes Facebook will go the way of Yahoo within the next decade. Facebook stock has fallen by 27 percent, representing the largest two-week loss of any IPO since 1995.

"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," said Jackson. "For all intents and purposes, it's disappeared."

But in a move to broaden its scope of the web, Facebook recently announced that it would discuss the possibility of allowing members under the age of 13.

“They have so many problems with privacy and the impact of social media on the social, cognitive and emotional development of teens," said Jim Steyer, chief execution of the child advocacy group Common Sense Media. "Why on the earth would I want them to also go after my 8- or 9-year-old?”

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