How long will Facebook's prestige last?
Facebook is very prestigious among devs and is probably #2 behind Google, but how long will Facebook remain this prestigious? I see that prestige is is swaying people toward FB in competitive offer situations with equivalent TC. I wonder if it is wise to weight FB’s prestige so highly?
Back in the year 2000 Microsoft was considered the #1 most prestigious company and Cisco was also pretty high up. Microsoft maintained very high prestige levels through the early 2010s but Cisco's declined much more so. Prestige can change a lot over time especially if a company runs into financial difficulties (prestige plummets) or growth slows (slow decline in prestige).
Unlike the other tech giants like Google and Amazon, I believe Facebook has a massively weaker economic moat. It would be far harder to disrupt Amazon or Google than to disrupt Facebook and therefore I am much less bullish on Facebook’s ability to maintain their current prestige levels for the long term. In the US and Europe facebook usage is flat or declining depending on country and there is a sharp decline in usage among <= 20 year olds. People are spending less time on the site. Many of these users are going to instagram (which Facebook owns) so that has mitigated the financial impact but what if another product comes along? Image sharing sites are easy to build so this is a constant fear. Instagram is also cluttered with advertisements how long will people put up with that before they bail to another platform?
How long will Facebook’s prestige last?