The Sydney Morning Herald reports that Facebook entered into a downtime on Thursday night. The site was down for 30 minutes.
Interesting Tweets about the "GFC"
Following are some interesting twitter feeds. @WillBlackWriter from Huffington Post tweeted "My mum and nan will be upset about #facebookdown. I should send them each a telegram to express my condolences". The other worth laughing about is tweeted by @neil1954 "I survived the Great Facebook Crash of 2014."
Facebook is now a teenager and still growing.
The tech firm was born to share information with friends and families. And then it grows to enhance that experience with App developers of which the most notable one is Zynga. Now this firm reaches the age of a 13 years old teenager that serves more than 1 billion people worldwide. Facebook has now become the social information global system where countless of transactions of emotions and memories are exchange worldwide.
Facebook can affect the banking systems
This is akin to the banking systems around the world growing in extensiveness by connecting to each other and growing in intensiveness by increasing more transaction between any individuals. The banking and financial sector grows so fast that these institutions get bigger in size from 2002 to 2008. And then came the Great Financial Crisis on the 16th September 2008 where Lehman brother collapsed and Citibank sought help from the US government. Facebook poaching David Marcus from Paypal to monetize Facebook messenger imply that Facebook can be increasing its significance to be part of the banking system given its sheer size of users and activities generated by the 1 billion users. Having this insight will reveal to us that in the long run , tech giants like Facebook, Snapchat, Wechat can substantially shake the global transactional monetary flow.
Breakup on Facebook may not be a surprise
The United States government did try to break up Microsoft and the German government official mulls over a potential break up of Google in view of the potential harmful effect of economic monopoly power. Perhaps it will be no surprise when the same scrutiny will be coming after Facebook not only because of its global monopoly power but because of its dangerous impact to the banking systems.
Can Facebook fail like Black Berry?
The other interesting viewpoint was the response of Facebook to the 30 minutes crash. When we look back in history, Blackberry has a downtime and its customers were outraged. In my personal opinion, that was one of the critical factors for its downfall. FortunatelySamsung did not give Mark Zuckerberg the opportunity to build a facebook phone. Otherwise, if history is right, Facebook has the possibility to be replaced. This is especially when we spot the rise of mobile social apps like Wechat and Snapchat.
Doubts about too big to fail but expect more to come
Facebook can fail if history follows the story of Blackberry. Yet we know that Facebook has its unique path via building a path to interlink with the global banking system, as a result, giving itself a potential chance to be bailed out in the future. As such the premise of too big to fail for Facebook is not certain. What is certain is that we can expect more interesting stories ahead from Facebook.