Refer to the images 'Facebook versus Google Plus'. And answer the question belowWhy did Google Plus fail as a social networking site? Table 4.5 Facebook UsersYear2004200520062007200820092010201120122013201420152016Facebook User's (Millions)Sources: Facebook Merkter15.512501003505007889001171133415171654Hours per User per Month235.57.58.51010.511Having observed the success of Facebook, other companies tried to develop their owncompeting social websites. Most notable was Google, a software powerhouse thatcertainly had the resources to compete with Facebook. In 2011, Google launchedGoogle Plus, a social networking site that looked much like Facebook. At first it seemedit would be a huge success-more than 25 million people joined in the first month, andmany more users joined later. But then the number of users dropped off dramatically,and by July 2015, Google Plus had fewer than 20 million users, compared withFacebook's roughly 1500 million. (See Table 4.50) A year later Google gave up on socialnetworking and no longer used Google Plus as a social networking site.11What happened? Why did Google Plus fail so badly? On its face (sorry for the pun!), itseemed superior to Facebook in that it was easier to customize and offered betterprivacy options. And of course it had the financial resources of Google behind it. But itlacked something important: a large number of users relative to Facebook. WhenGoogle Plus entered the market in 2011, Facebook already had close to 800 millionusers, which gave it an enormous advantage. Any potential new user will naturallygravitate to the social networking site with the most users, namely Facebook. Theextremely strong network externality created a winner-take-all market, and Facebookwas the winner. Example 4.7Facebook versus Google PlusThe social networking website, Facebook, began operation in 2004 and had a millionusers by the end of the year. By early 2011, with over 600 million users, Facebookbecame the world's second most visited website (after Google). A strong positivenetwork externality was central to Facebook's success.facebookEmail or PhoneJLog InForgot Password?Sign Up for Facebook0To understand this, just ask yourself why you would join Facebook rather than someother social networking site. You would join because so many other people have joined.The more friends that also joined, the more useful the site becomes for you as a way toshare news and other information with friends. Conversely, if you are the only one ofyour social circle who does not use Facebook, you may find yourself out of the loopwith respect to news and upcoming events. With more members, there are more peopleto meet or reconnect with, a bigger audience for your photos and opinions, andgenerally, a larger variety of content for you to enjoy. In Table 4.50, you can see that asthe number of Facebook users has grown, the time the average user spent on the sitegrew as well.

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Economics

Why did Google Plus fail as a social networking site?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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