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Ken Rutkowski  (Source:
Forty to 50 percent of time spent on Facebook is dedicated to playing games

A successful entrepreneur has predicted that Facebook will be the largest bank by 2015.

Ken Rutkowski, founder and president of Metal International, is an observer of technology and an entrepreneur. Recently, he stated that Facebook would be the biggest bank by 2015 because of Facebook Credits found in games.

Facebook has become a powerhouse in the social networking industry since its launch in 2004. It currently has over 600 million active users, and even had a movie made about its creation called "The Social Network." 

In addition to just socializing with friends, Facebook allows its users to connect through playing games like Farmville, which was developed by Zynga. Farmville is undoubtedly Zynga's most popular game with an estimated value of $12 billion.

"Facebook will be the largest bank by 2015," said Rutkowski. "I hear you say 'how can they be a bank, what's going on?' If you play games on Facebook, which, by the way 40 to 50 percent of the time spent on Facebook is playing games, and those games - like Farmville and Mafia Wars - are paid for and you have to buy credits for that and they are called Facebook Credits." 

Rutkowski mentioned that "old school" media companies have a market capitalization of $241.7 billion while "new school" media companies are valued at $319.7 billion. 

Rutkowski also noted that people who do not have a Facebook profile may want to make one soon because if they don't, a profile will be made for them. 

"Why is it important to have a profile?" said Rutkowski. "They are going to start using that to determine what your credit worthiness is. By the way, if you don't have a profile they will make one for you, so it's better for you to create it and manage it than them. That'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."

In other news, Rutkowski reported that Apple is now the most profitable retailer in the world. 

"Apple retail stores do $2400 per square meter of floor space compared with Tiffany's which does $700 per square meter per day," said Rutkowski. 

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By B3an on 4/14/2011 7:15:22 AM , Rating: 1
This just points out how massively important Flash is, as obviously Farmville uses it. And how much of a retarded decision it is for Apple to not allow it.
But then if all the iSheep are busy playing Farmville for hours they wont be buying other cr*p from Apples store. And lets face it, Apple users are normally the kind of morons to spend money on something as pointless as Farmville.

I've always said this is the main reason why Apple do not allow Flash.

RE: Flash
By FITCamaro on 4/14/2011 9:51:52 AM , Rating: 2
Apple doesn't allow flash because Adobe won't let them control it.

RE: Flash
By Azethoth on 4/15/2011 4:29:02 AM , Rating: 2
All that + Apple does not allow it because it is crapware that drains your phone battery and there is nothing you can do to fix the situation. Sometime this year I hear flash will finally get gpu acceleration etc which may change Apple's mind. That still leaves the basic crapware that is just a giant security hole that again, you cannot do anything about.

I hope HTML 5 kills off this monstrosity soon. Or failing that, Google makes their flash version open source and it gets shoved into webkit.

RE: Flash
By B3an on 4/15/2011 6:47:05 AM , Rating: 1
Apple does not allow it because it is crapware that drains your phone battery

And have you seen Apples HTML5 demos running on an iPad or iPhone? single digit frames per-second plus 100% CPU load. Yet Flash is the batter drain right? If you think HTML5 animations, that are not even 1/4 as complex as Flash animations are not going to drain the batter just as fast then you're an idiot. Playing video is another example... in HTML5 or Flash it's going to drain the batter just s fast.

HTML5 will never kill off Flash. It's vastly more capable and both are suited for different things.

People like you are just morons. Or as a Google Chrome dev put it:

"It's pretty clear that HTML + JS (+ CSS, + WebGL, +++etc.) is not a replacement for Flash at the moment, due to capabilities, development tool quality, browser distribution, etc.
Frequently the two are not trying to solve the same problems. I think people who play up the "OMG HTML5 is teh Flash killz0r" angle are naive or ignorant."

"This week I got an iPhone. This weekend I got four chargers so I can keep it charged everywhere I go and a land line so I can actually make phone calls." -- Facebook CEO Mark Zuckerberg

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