Here is the business value proposition for Facebook in one sentence: “Come waste time with me.” Think about it.

The overwhelming reason people go to Facebook is to waste time playing Farmville, watching funny videos, or catching up on the details of friend’s lives. Your life does not depend on Facebook. It’s entirely incremental activity.

So, do you have a business that people want to waste their time with? If you are Disney, the answer is probably yes. If you are selling ball bearings to Ford Motor Company, probably not.

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