Jerry, do not buy Facebook. Do not squander billions on a platform that has not yet delivered its mission critical use case.
Mr. Yang, you have one of the most talented developer corps in North America. Please redirect the billions that would otherwise be squandered in the acquisition toward the creation of a superior competitive product.. This is to say nothing of the potentially horrible management entanglements.
Social networking, as it is today embodied by very immature platforms, including Facebook, have a long way to go in providing bedrock value, especially in the B2B applications area. There is much good work to be done in creating a credible, useful, and enduring model for social networks, beyond the buzz.
I know that work done to date by Facebook and MySpace is worthy of much applause, and is a potential horizontal advertising and market bonanza, yet I implore you to take a fresh look at the space and innovate with that special Yahoo Voodoo sauce that has, in the past, executed so well.
Here is a chance to do things right, to set a new agenda, and exceed the state of the art.
Just ask H. Hoffman, the shadow CEO of Yahoo, what she thinks....