Is Facebook worth $15-billion? Not in any real sense of the word. Yes, it’s true that Microsoft paid $240-million for 1.6 per cent of the company, which theoretically values the entire company at $15-billion. But the key word there is “theoretically.” There’s about as much chance of someone buying Facebook for $15-billion as there is of me flying to the moon. In real terms, Mark Zuckerberg is worth something functionally equivalent to zero. I’d love to see him walk into a bank with a copy of the Forbes magazine list and try to get a loan for a couple of hundred million or so.
Blogging isn’t for everyone, obviously. There will always be those who prefer to use Facebook-style networks — or even Marc Andreessen’s Ning.com — because of their simplicity, and hopefully those networks will be able to “federate” or share information with blogs and blog-based social networks, using OpenID or some other similar standard. For those who want more control over their online data and destiny, however (a group I would like to think is increasing), I think blogs and blog-based tools are the best route, and could be a lot more flexible than any other option given the plug-in friendly nature of WordPress.