I strongly disagree. The reason why FB needs all that cash is precisely because they run it as a walled garden. Most other social media platforms use the same approach, only less successfully.
The solution I think is to instead develop a robust social media protocol, which anybody can use. Not unlike html or torrent. This is why the internet took off in the first place - because it was a way out of the GEnie/Prodigy/CompuServe ghetto. The biggest phone book in the world would only get bigger if it wasn’t tied to FB and the corporate culture of the “elite” minority.
