Mark Zuckerberg believes Beacon – the company’s much-aligned advertising service – needs work but he’s confident it will be successful. What else is he going to say other than making a meek apology about Beacon’s inauspicious debut?
Zuckerberg needs to be optimistic about Beacon because Facebook is still, arguably, looking for a “killer app” to generate revenue. It needs a eureka, we’ve hit the gold mine moment much like Google experienced when it suddenly dawned on Larry and Sergey that Overture’s CPC model was the trick to taking making Google a business.
Sure, Facebook has nearly 60 million users but is anyone completed convinced yet that it can transform this critical mass into a business – and a business that can justify a $15-billion valuation? The answer is probably “yes” but Facebook is still struggling to find its way.
By the way, when did “60 Minutes” become the forum to plead your case when you find yourself on the hot seat? First, Roger Clemens; now Zuckerberg.