Biz wrote a post on Medium expounding an idea for Facebook that could net his one-time competitor $1 billion/month in revenue.
He begins by explaining that he only recently started using Facebook with frequency, as prior to his colleague showing him how to simplify the experience, “my account was so busy I couldn’t keep up. On top of that, Facebook added thousands of settings, features, and choices. Whenever I tried to get back into it, I became overwhelmed.”
Now that Biz has got several former Facebookers employed at Jelly, the team is using it as a communication medium like he never has before. Which sparked an idea that he propounded in the Medium post:
“[No]w that I’m using it and thinking about it, I’ve got an idea for Facebook. They could offer Facebook Premium. For $10 a month, people who really love Facebook (and can afford it), could see no ads. Maybe some special features too. If 10% percent of Facebook signed up, that’s $1B a month in revenue. Not too shabby.”
He’s not the first to suggest such a model, but his perspective is unique as a Silicon Valley icon and ironically recent Facebook adopter. Those of us who use Facebook daily, and have done so for years, might forget how simple the network used to be. Its increasing complexity, including with regard to its algorithms that determine what content we see in our news feeds, leads many to feel frustrated.
What do you think about Biz’s idea? Would you pay for a Facebook freemium model if it meant you wouldn’t have to see ads?
(Biz Stone image via Mashable)