Friendster Finds New Friends With Big Names And Deep Pockets

Overhype

from the but-where's-the-business-model? dept

Are we reaching a bubble in the “social software” space? Friendster is getting press coverage today because they somehow convinced three successful and famous dot com veterans to dump over $1 million into the site that still doesn’t know how it’s going to make any money. I still think that Friendster is a fad that will go the way of sixdegrees.com before too long. It’s clear, though, that others disagree. Still, I do get worried when all of the hype about a company focuses on who’s involved and not what the business model is. There’s too much “we’ll get back to that later”. Already, there’s been quite a lot of Friendster backlash. That doesn’t mean they won’t eventually figure out a business model that works – but so far there’s not much more than hype.