The difficulty in adapting to new trends and inability to make money from mobile applications will lead to the disappearance of Facebook, believes analyst Eric Jackson, founder of Ironfire Capital.
The social network will cease to be a dominant company and will fade away in less than eight years, as it had happened with Yahoo!, according to Jackson. “In five to eight years from now, Facebook will disappear just as it happened with Yahoo! (…) Yahoo! has 13,000 employees and makes profit, but tenfold lower compared to its peak value from ten years ago. Basically, we can say that it has disappeared,” said Jackson.
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“The world has become more competitive and those who dominate a certain generation will have much trouble passing to another generation. Facebook can buy as many companies in the mobile segment as it wants, but will remain just a large site, very different from a mobile application,” added Jackson.
Facebook hit a new minimum on New York stocks. The company closed Monday at $26.9 share price. This is the lowest price since the listing of the company on Nasdaq market on May 18, when reached a peak of $38/stock. Meanwhile the social network shares fell by 29% of the IPO.