I've heard talk that facebook will die out and be replaced, just like Myspace. Many people seem to be under the impression that social media sites will always be short lived. However, I contend that facebook is not going anywhere. I believe that the main reason they will not be overtaken by another website is their aggressive business tactics.
Recently, facebook has been buying up other social networks when they begin to gain small success. However, after these companies are bought, they are immediately shut down. With the exception of Instagram, all these websites are no longer up and functioning. The founders of these companies are then kept as employees of Facebook. The reasoning behind this method is to eliminate all future competition. By keeping these brilliant founders working for Facebook, Zuckerberg is able to limit the number of quality new entrepreneurs in his field (social media). Zuckerberg said "We have not once bought a company for the company. We buy companies to get excellent people... In order to have a really entrepreneurial culture one of the key things is to make sure we're recruiting the best people. One of the ways to do this is to focus on acquiring great companies with great founders." A list of facebook's acquisitions can be found here on wikipedia
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