An analyst predicts that Facebook will suffer the same fate as that MySpace gone through in few years. While speaking on CNBC’s “Squawk on the Street” program Monday (via CNET), Eric Jackson, founder of Ironfire Capital, said that the social giant will disappear in next five to eight years. Jackson cited Facebook’s inability to crack the mobile market and shares hits down 27 percent since the time company goes public.
“In five to eight years they are going to disappear in the way that Yahoo has disappeared,” Jackson said. “Yahoo is still making money, it’s still profitable, still has 13,000 employees working for it. But it’s 10 percent of the value that it was at the height of 2000. For all intents and purposes, it’s disappeared.”
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