ACC 270 Reading Summary - B
ACC 270 Reading Summary - B ACC 270
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This 2 page Class Notes was uploaded by Jessie Frank on Sunday March 20, 2016. The Class Notes belongs to ACC 270 at Illinois State University taught by Vishal Midha in Spring 2016. Since its upload, it has received 9 views. For similar materials see Information Systems in Organization in Accounting at Illinois State University.
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Date Created: 03/20/16
9.2 The Facebook Platform: Disrupting Competition and Building Durable Competitive Advantage Facebook’s mission: “to make the world more open and connected.” Facebook once began as a social network for college students, and has prospered into numerous markets and demographics. The Social Graph and Why Facebook’s Is So Strong Facebook’s social graph: the ability to collect, express, and leverage the connections between the site’s users, or as some describe it, “the global mapping of everyone and how they’re related.” You’re connected to other users (your friends), photos about you are tagged, comments you’ve posted carry your name, you’re a member of groups, you’re connected to applications you’ve installed—Facebook links them all. Facebook is seen as a place where you can reinforce contacts among those who, for the most part, you already knew. Facebook was one of the first social networks where users used their real names as a way of identification. “Friending” on Facebook is a link between nodes in the social graph, requiring both users to approve the friendship. Biggest distinguishing feature of Facebook: trust. Allows for safe space for users. Members are attracted to the service because others they care about are more likely to be on Facebook than anywhere else online due to the large user base. The more time you spend on Facebook, the more you’ve invested in your graph and the less likely you are to move to a rival. Facebook Feed: Ebola for Data Flows Each time your Facebook News Feed is active (i.e. making a friend, uploading a picture, joining a group, etc.), the feed blasts this information to all of your friends. Facebook refines feeds through creating categories. Not everyone sees every post to their feed. There is a constantly refined algorithm known as “Edge Rank” that attempts to identify what you’ll like while cutting the spam, and users have the ability to sort stories and tweak their feed preferences, too. Facebook introduced the idea of hashtags from Twitter, allowing the identification of trends to discover conversation and encourage more public sharing. Wows 1. I was interested to learn that Facebook focuses so much on trust, since I never really thought of Facebook as a place of trust, but rather a place to socialize. 2. I found it interesting that Facebook admitted to taking the idea of Hashtags from Twitter. I would have thought that Facebook would have made it seem that their idea of “hashtagging” was in the “works” before Twitter began using it. 3. I love Facebook’s mission of making everyone more open and connected because that’s exactly what Facebook does for its users, specifically through the way it connects all users with any activity present on the site. How 1. How is Facebook able to connect all users through activity without interfering with user privacy? Facebook is able to use data to “suggest” friends for its users, but I worry that infringes on its user’s privacy rights, as well as connects data between users that users would prefer to be private.
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