Facebook and Youtube Five years from now!

Interesting video. One key element to take away from this youtube video is the fact that if you are not evolving at a faster pace than the competition, then be prepared to be taken over. Myspace did to Friendster. Facebook did this to Myspace. Who is going to be the new Facebook? In less than 5 years, I guarantee you we will know.

The only way facebook will survive is through initiatives like Facebook Connect and their application development platform which enables them to transform and evolve at a faster rate due to their communities. Competition can steal and make it better, but if you are changing all the time, then it is a bit harder for them to follow your every move.

For example, think about how fast FB Connect is becoming the preferred ID system of choice over already established Open ID system in such a short span of time. To remain competitive, Facebook must continue to take advantage of their mainstream popularity to embed themselves in everything related to the social web. So far, they are doing it right. Let’s see if they can keep the momentum going.