Social Networks and goals

As I mentioned in an earlier entry, people are shying away from the behemoth social networks like MySpace and Facebook and moving toward more interest specific social networks. I also mentioned that two of my current projects are social networks.

Why? Because a three year old social network called Bebo was recently sold for…. $850 million! The founders, a husband and wife team, pocketed $600 million while VC’s (Venture Capitalists) took the rest. That’s incomprehensible. Valued that high after only three years in operation? Click HERE for a list of internet/business acquisitions in the 1st quarter of 2008.

Social networks are the hot internet attraction these days, but who knows for how long? Will the net become so saturated with these sites that another form of socializing will take its place? I don’t know. You should probably read Futurist magazine because I can’t think past next week. In fact, I can’t believe last week passed and I didn’t get a chance to post any entries. Time is flying so let’s get to work.

Why are big social networks so attractive to prospective buyers? Because of the ad revenue generated from these massive membership sites are astronomical. As mentioned earlier, I read that Facebook was generating $200 million a year in ad revenue. I’m not planning on creating a network that will generate those figures, but if I can build a successful one (or two or three…) that will pay for itself and cover my expenses, and then I’ve succeeded. In fact, my goal is to leave my day job behind and have enough earnings coming in from my internet projects to replace my current salary plus the cost of health insurance by May 1st, 2011. That’s my three year plan. It’s now set in digital stone. Very doable with enough hard work, a little luck, and no health issues interfering.

My five year plan (no, I’m not a Socialist) is to sell one or two or three of my internet business and have the opportunity to finance my own feature films, which is my true passion.

Ten year plan? Buy an ailing vineyard in Italy and convert it to coffee beans. I still need to research optimal coffee bean growing climates. Italy may not work, but it’s fun to dream.

Speaking of Italy, here’s a new Big Desk Tees design. It’s the Roman Amphitheater in Lucca, Italy.