I posted this monograph of 5/18. After a few colleagues read it, I took it down. Now, with Mr Ewanick having left the firm, I am reposting the monograph. Regards, Slim
General Motors doesn't find much value in advertising on Facebook. Some investors see no value investing in Facebook.
Perhaps General Motors doesn't realise that the 14, 15, 16 year old youngsters visiting Facebook today will be visiting New Car Showrooms in a few years. None the less, let's look at GM through the Years of Technology.
The General: "The Telly Phone? The Telly Phone! I'm not buying telly phones. I do that and my employees will spend all day talking on the telly phone instead of working. Besides, why would I want to invest in some youngster and a start-up tech company. You have no revenues, no profits. I'm not investing in the telly phone."
The General: "Telly vision? Telly vision! Who wants to look at that tiny screen. Nobody, that's who. Besides, why would I want to invest in some youngster and a start-up tech company. You have no revenues, no profits. I'm not investing in the telly vision."
The General: "Flying machines? Flying machines! If the good Lord wanted me to fly, he'd have given me wings. Besides, what good is flying around with my brother? And another thing: if you have flying machines you need to have airports. Do you see any airports? Besides, why would I want to invest in some youngster and a start-up tech company. You have no revenues, no profits. I'm not investing in any flying machine."
The General: "Light bulbs? Light bulbs! What good are they. Light bulbs aren't any good unless you have electric companies. How many electric companies to you see? Besides, why would I want to invest in some youngster and a start-up tech company. You have no revenues, no profits. I'm not investing in any light bulbs."
The General: "The Motor Car? The Motor Car! Noisy smelly toy for the rich. It will never replace the horse. Why in heaven's name would I want to invest in the Motor Car?"
"BECAUSE YOU SELL MOTOR CARS!"
Facebook is the telegraph, the telephone, the fax machine, the post office, the television, the movies theatre, the Rolodex
®, and--with voice chat--the meeting room. It is no longer a place for youngsters to hang out. Facebook is now the business platform.
But don't bother listening to me. Everyone always doesn't listen to me.
For more on Social Media:
Social Media is the Medium. Greater than the sum of its parts.
Quill Pens and Powdered Wigs in Today's Classrooms.
Warmest regards,
Slim
PS. General, if you've found anything I said to be helpful, please don't hesitate to send me on of those tricked out Macs and to tuck a few dollars into the envelope along with the thank you note. Slim
