Facebook had a big announcement yesterday about Connect, a service that will make it easier for groups of Facebook friends to leave Facebook, go to other sites to "do stuff,” the result of which will be a revenue share of ad dollars back to Facebook. For instance, Facebook friends will be able to visit Hulu, watch a program together and share comments on Wall-to-Wall and it will monetize back to Facebook. Freakin’ goofy.
But here’s what’s even goofier. Facebook, who capitalized to the tune of $235 million last year, is now actually looking for more money. Can you imagine? They need the money so they can figure out how to actually make money. It’s an internet property people! It is machines, smart software and people to grow and manage them. And by the way, the smarter the software, the less people needed. More money isn’t going to solve the monetization issue.
Here’s a new title for you: Chief Monetization Officer. Facebook needs one and but quick.