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Facebook’s Business Model – Panhandling!

The digerati, internet business ‘experts’ and venture capitalists have been muttering for some time about when Facebook was going to actually make some money and stop being a rathole for cash , getting ready to apply for some of that government bailout cash.

Well they have done it! Electronic Panhandling! You give Facebook a buck you get a hundred ‘credits’ to spend on your friends. I suppose this is a step above (a very small step) giving a buck to some rheumy eyed guy hanging outside the package store, knowing that you will be forgotten with the first swallow of that smooth white port, or the robust flavor of the 40 ouncer.

What a unique monetization strategy! You can gift your friends with credits, and they can spend it at the Company store! They take your money and they take your money! Move Over Bernie Madoff!

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