LetsBuyIt Blog

Bad news for Facebook… The famous social network platform seems to face a gaping hole which could allow hakers to break into your FaceBook account. In other words, that gap could enable attackers to change your privacy settings, add or delete some of your Facebook friends or even read and send messages from your account. The problem has been reported to Facebook by a German developer, Artur Wachelka, and Facebook’s Managers are still working on it.

Watch out until the problem has been resolved !

This is a funny video that shows what Facebook would be like in real life:

We had previously reported about the Opensocial Initiative and that MySpace would like to open up an API for outside developers to develop applications for MySpace, similar to the applications of Facebook. Well, they are online now and some applications are already available. MySpace also provides the opportunity to create social shopping widgets! Check out the MySpace application center here.

We have previously written about API and it’s one of the keywords of development in the last few months. When popular API are provided for the third-party innovators, there is a huge demand, as we can see with GoogleMaps and the over 4000 applications on Facebook itself.

With the growing availability of API it became more difficult to understand them all and that is why Google decided to simplify the development for websites and developers by creating one development platform called: OpenSocial.

This is how Google explains it on their website: “The ultimate goal is for any social website to be able to implement the APIs and host 3rd party social applications. Because it is based on the famous standard of HTML and Javascript it is easy to be learnt and quick to be applied. “

The following websites implementing the OpenSocial Standard are some websites which imply to revolutionize the development industry inevitably:

MySpace, Friendster, hi5, Hyves, imeem, LinkedIn, Ning, Oracle, orkut, Plaxo, Salesforce.com, Six Apart, Tianji, Viadeo, und XING to name just a few of all participants.

If Facebook does not join this initiative we are bound to see an interesting competition.

After reading RSS-news nowadays my tag-cloud-looking mind, trained to memorize only important facts (My studying attitude– if I don’t remember something it was not important, which even worked somehow…) looks a little bit like this:

Bubble 2.0, 1998, expectations, overvalued, undervalued, Facebook value $10billion maybe even $100billion (expected 2007 sales $150 million), TechCrunch worth $100 million, RockYou value $500 million, Ebay write off 1.4 billion Skype, Microsoft $6 billion acquisition aQuantive, et cetera.

You can most definitely sympathize and we discussed this topic here for about 1min and we came up with the following scientific conclusion: “I don’t know, let the analysts do these interpretations. Let’s get back to work!”

1. These numbers are so big that nobody can actually relate to them or imagine them anyway. Just let the analysts talk about the money that others make! That’s their job!

2. Each mentioned company is based on a brilliant idea, brilliant team to realize them and luck. However each project is also based on bloody, hard work. So just work!

3. Get the basics right because now there are laws, rules and regulations that go with a website and e-commerce company!

4. Think before you click to send an email.

5. Facebook is great fun, an incredible market intelligence machine but an even greater waste of time during the day.

6. Going offline to work sometimes is very productive.

Good luck with all your projects because good ideas deserve success! Just dare to express and realize them.

Nearly a quarter of upstream clicks to the top 19 social sites originated from one place on the Web, according to a report from Hitwise.

Social networking sites are feeding off each other’s good will, according to a new report by competitive intelligence service company Hitwise.

Facebook’s traffic has doubled in just over 18 months, but MySpace still receives most of the Web’s social networking traffic. MySpace captured 79.7% of social networking traffic in April, according to figures released by Hitwise on Monday. Facebook accounted for 11.47% of social networking visits, while MySpace alterative Bebo drew 1.28% of the traffic last month, according to the Hitwise report.

MySpace visits rose 70% from April 2006 to April 2007, while the percentage increase for the lesser-used sites was much more dramatic, according to Hitwise. Facebook visits increased 126% from April 2006 and Bebo’s traffic rose 184% from last year, Hitwise announced.