Slashdot Mirror

← Back to Stories (view on slashdot.org)

Facebook To Be 'Biggest Bank' By 2015

Posted by CmdrTaco on from the farmville-for-real-bucks dept.

angry tapir writes "The explosion of social networking commerce will lead to the unlikely candidate of Facebook becoming the world's biggest bank by the middle of the decade, according to a technology observer and entrepreneur. People who don't have a Facebook account should get one or risk having a financial profile created for them says founder and president of Metal International, Ken Rutkowski."

13 of 301 comments (clear)

  1. Rip off bank fees by vlm · · Score: 4, Interesting

    How will it work culturally to have rip off bank fees on a "free" social networking site? If someone complains in a post about being ripped off, will they censor? Or will it be part of the criminally enforceable terms of service not to disparage FaceBank?

    --
    "Science flies us to the moon. Religion flies us into buildings." - Victor Stenger
    1. Re:Rip off bank fees by Chrisq · · Score: 5, Funny

      Let's back WAY up.

      Facebook as a BANK?!

      How wrong is THAT?

      "FaceBook. The bank that Likes you."

      I think that to say "Facebook will be the worlds largest bank" is about as accurate as saying "Farmville will be the world's largest agricultural business".

    2. Re:Rip off bank fees by MoonBuggy · · Score: 5, Informative

      For those who haven't RTFA, that's actually a pretty good analogy. The reasoning they use seems to go something along the lines of: "Facebook credits are kind of like money. Also Facebook has a shitton of users. They'll probably be dealing direct with banks for an exchange mechanism soon enough. That makes them a bank with a shitton of customers, right?".

      By some fairly tenuous leaps of logic I can see what they're getting at, but it's hardly what the headline claims.

  2. Metal International? Who? by Hognoxious · · Score: 5, Funny

    More like Mental International, if he thinks anyone believes bullshit like that.

    --
    Confucius say, "Find worm in apple - bad. Find half a worm - worse."
  3. If this is true its a crap bank by Chrisq · · Score: 4, Insightful

    People who don't have a Facebook account should get one or risk having a financial profile created for them says founder and president of Metal International, Ken Rutkowski.

    If that's true its a crap bank. Can you imagine Bank of America, Barclays, or BNP Paribas saying "if you don't have an account already you better open one or someone else might do it in your name and build up a financial profile in your name"? If they are going to be a bank they should do some level of customer checking.

  4. LOL - Facebook credits by halo_2_rocks · · Score: 5, Interesting

    LOL - You know there is an "new" internet bubble when they start saying Facebook credits are going to be worth more than the money you have in the bank. Hmmm - I wonder where we've heard this before?!?

    1. Re:LOL - Facebook credits by rufty_tufty · · Score: 4, Funny

      Got to also love the bit here:
      "Rutkowski[...] prides himself as being the fist person to coin the term “Web 3.0”"

      Fine I'm going to create the term Web 4.0.

      I'll get back to you in a few weeks to let you know what it means. Be sure to check my blog regularly for the announcement!

      --
      "The weirdest thing about a mind, is that every answer that you find, is the basis of a brand new cliche" -
  5. FUD, Bullshit, and lies .... by gstoddart · · Score: 5, Insightful

    I find this article to be somewhat lacking on credibility.

    This is some guy who claims to have invented "Web 3.0" telling us that traditional banks will be creating Facebook profiles on our behalf to track our credit rating? Based on what?

    âoeWhy is its important to have a profile? They are going to start using that to determine what your credit worthiness is.â

    âoeBy the way, if you donâ(TM)t have a profile they will make one for you so itâ(TM)s better for you to create it and manage it then them. Thatâ(TM)s why you want to be selective with what you put on there. If you have kids that are being idiots online make sure you stop them right away as they are creating a pretty negative profile long term and it happens often.â

    This is some marketing idiot who is trying to push an idea.

    I'm sorry, but this stupid article doesn't do anything to make me want to get a *(&%^&*$^ Facebook account. In fact, it reinforces the perception that Facebook is overhyped, with everybody thinking it's the most significant thing to ever happen.

    Biggest bank by 2015? Mandatory Facebook accounts? What drivel. Someone needs to give this guys a smack.

    --
    Lost at C:>. Found at C.
    1. Re:FUD, Bullshit, and lies .... by gstoddart · · Score: 4, Insightful

      That's - that's good. That's good. Unless, of course, somebody comes up with Web 4.0. Then this guy's in trouble, huh?

      He can call it "Web pi*r^2" for all I fucking care.

      If he's stupid enough to be envisioning a world in which Facebook is a bank and that it becomes mandatory that I have a profile otherwise a "real" bank (you know, one that's regulated and covered by banking laws) won't have anything to do with me ... well, then he's been smoking something which is likely illegal.

      This is one of those random internet prognostications put forth by someone who is trying to sell this to people, not by someone who has insight into what is going to happen. This is a marketing statement, and is therefore worthy of a kick in the nuts, and not much else.

      --
      Lost at C:>. Found at C.
  6. Re:Like PayPal is a bank? by DanTheStone · · Score: 4, Insightful

    I agree. What a terrible prediction. Facebook trying to make it easy to exchange Facebook credits for currency doesn't make it a bank in any way that a normal person would consider a bank. They don't offer credit lines. People aren't sending money to each other through it. They're not even at PayPal levels of bank functionality.

  7. Real Estate by Wiarumas · · Score: 4, Insightful

    In other news, Facebook will be the largest realtor by 2020. Better sign up and purchase a Facebook mortgage or else you might miss the bubble pop.

    --
    I will bend like a reed in the wind.
  8. Re:2015+ #1 criminal charge, murder by thyroid rot by tgeller · · Score: 4, Funny

    This comment made more sense than the original post.

    --
    Tom Geller
  9. Re:mod by TaoPhoenix · · Score: 4, Informative

    Metamod 30 posts in 6 batches of five per day maturely mostly modding up, except for a goatse down, without playing games and you'll get some soon.

    --
    My first Journal Entry ever, in 8 years! http://slashdot.org/journal/365947/aphelion-scifi-fantasy-horror-poetry-webzine