Best NY Times article on Facebook yet

The NY Times hits the nail on the head in this article on Facebook’s coming IPO, “Facebook’s prospects may rest on trove of data.” The key question is the value of Facebook’s data.

What Facebook already has — more than any other digital company — is a spectacularly rich vault of information about its users, who cannot seem to stay away from the site. Americans, on average, now spend 20 percent of their online time on Facebook alone, thanks to the ever-growing menu of activities the company has introduced, from playing games to sampling music to posting pictures of baby showers and drunken escapades. Some 300 million photos are uploaded to the site daily.

How Facebook exploits its users’ information — and how those users react — is the next reckoning….

“They need to make the data work more,” Mr. Eastman said. “They need to provide deeper data. Right now the value of Facebook advertising is largely unknown.”

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