Mark Zuckerberg is Time's Man of the Year, the movie about him seems likely to be an Oscar winner, and now Goldman Sachs is raising $1.5 billion from its favorite investors on behalf of the social networking company.
At the very same moment, Facebook's only real competitor --NewsCorps' waning social networking site, MySpace -- is shedding employees and expenses, most likely in hopes of a fire sale.
But appearances can be deceiving. In fact, as I read the situation, we are witnessing the beginning of the end of Facebook. These aren't the symptoms of a company that is winning, but one that is cashing out.
Read more: Facebook hype will fade
So, is Facebook inevitably on the way out, on the way to permanent decline just like Myspace? I really don't have a need or much use at all for Facebook, except for some of the free games and the fact that everyone else seems to be on it. It could disappear tomorrow and I would barely notice.