Funding for Facebook applications trend is about to die multi-million dollar death

The Facebook bubble has burst. What a waste of money.

One utterly moronic trend that is deservedly near death are the venture funds specifically for Facebook applications. The company has the ability to turn on/off any features it wants and can replicate any external application that it sees as successful. Being totally dependent on that was risky from day one.

Open APIs or not, Facebook is not the internet. It's a site that wants to monetize it's users. Anyone who thought differently should certainly be singing a different tune.

From the Valleywag article:

They can't say they didn't have it coming. But widgetmakers are angry all the same about Facebook's decision to clone Slide's Top Friends application as a feature in its latest redesign. "It would be insane for a new developer" to begin creating new apps the platform now, one executive at a Facebook-applications developer tells us. The exec says the VCs widget startups pitch for funding know it, too, and are closing their wallets.
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Software
About the author

Dave Rosenberg has more than 15 years of technology and marketing experience that spans from Bell Labs to startup IPOs to open-source and cloud software companies. He is CEO and founder of Nodeable, co-founder of MuleSoft, and managing director for Hardy Way. He is an adviser to DataStax, IT Database, and Puppet Labs.

 

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