Can Facebook Applications Make Money?

According to a New York Times article this morning, future cash flows may be questionable. The article compares the current ad reveneue being generated as similar to the gold rush when miners sold shovels to other miners. Michael Lazerow, CEO of Buddy Media (the company we broke the news about raising $1.5 million for Acebucks), was featured in the article as stating that “the pattern of Facebook applications relying on advertising from other Facebook applications is unsustainable.”