Facebook’s future as an important social network, certainly in the business world, is under increasing pressure from Twitter, warns Richard Greenfield, media analyst at BTIG Research.
Greenfield cites an important interview between David Fischer, Facebook’s VP of Business and Marketing Relationships, and Adam Lashinsky of Fortune, which took place Wednesday, as evidence. The interview wasn’t televised or available as a webcast, and nor did any notable discussion take place on Facebook. Instead, the audience of more than 500 immediately turned to Twitter to share their comments about the event.
“Hard to dismiss the irony that everyone uses Twitter to talk about a Facebook interview,” writes Greenfield. “Illustrating the increasing risk Twitter and the future of the ‘next new thing(s)’ on the Internet pose to Facebook and its valuation.”
Greenfield has cut Facebook stock to a sell rating, citing slowing mobile ad growth, disappointing desktop revenue and concerns over user engagement.