Demise of Professional Social Networking Is Just Around the Corner

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Seems that glory time of professional social networking sites (SNS) comes to an end. Annual report of LinkedIn is a direct evidence to this fact. According to the results of the second quarter, the losses of this social network amounted to 119 million US Dollars what considerably exceeds the results of the previous year. This is the worst outcome of the company since 2011.


So what is the reason for such inefficient activity?

Nowadays users are likely to concentrate mostly on one platform. Today a palm of victory holds Facebook. It’s obvious that internet-business now works according to the principle “the winner takes it all”. In 2000 we were thinking that internet-economics has enough space for everyone: here we read the news, here we order a food and there we apply for a job. Now such extent of offers simply has no sense. Even Pareto’s principle “80/20” doesn’t work. It’s more likely that 1% of services accumulate 90% of income.

According to the research of New York Times, each user spends just 2 minutes a day in LinkedIn while stays in Facebook for 50 minutes in average.

Number of monthly active Facebook users worldwide as of 2nd quarter 2016 (in millions)

 

Why should I switch from one site to another if there’s one platform combining everything I need?
Let’s say I’m looking for a job. Okay. I’m an active member of numerous professional groups. So that as soon as I’m bored with my old job, I publish something like “SOS, I’m sick and tired of my job!” and my colleagues will definitely reply me. So why do I need LinkedIn? Furthermore with its sophisticated interface...

As any other busy person leading an active lifestyle, I’m always run out of time. Therefore I have no opportunity to keep alive several accounts in different social networking sites simultaneously. To be registered in several networks for different needs is an entirely wrong approach.
One account forever – sooner or later the Internet will come to realize it’s the only smart option.

 

Money in the morning – vacancy in the evening

LinkedIn has lots of commercial options so far, while offline businessmen understood there’s no sense in transferring direct sales to online and internet-services learnt how to make money without making people buy anything. If you need to find a job you’ll have to come down with your money to one of four commercial accounts: “Job Seeker” for $29,99, “Business Plus” for $47,99, “Sales Navigator Professional” for $64,99 and “Recruiter Lite” for $99,95. You can only create an account, add friends and update boring news feed, which consists 90% from your friends’ updates. Endless circle.
In the end you realize that LinkedIn is not a social network but a site for publishing your CV and recruiting with appearance of a social network like news feed.

 

Evident problems with security

Information about law level of safety protection has appeared in 2011 for the first time. Experts have found vulnerability, which allows potential hackers gaining an access to personal data. According to the independent expert in the area of computer security Rishi Narang, technically the problem is connected with cookie-files being created by users of internet-pages. They are saved on the laptop and used for repeated authorization.

In May 2016 hacker with a nick “Peace” offered 117 million logins and passwords of LinkedIn users for sale.

There are lots of people who just forgot about their accounts in professional social networking sites. Those are an easy target for trespassers who publish false data about applicant or use his/her personal data for personal advantage.

Also let’s remind about an annoying spam. In September 2013 the social networking site was accused of data theft for personal use, in particular, e-mails for spam distribution. According to legal claim, LinkedIn gained an access to addresses in the list of contacts of user: the data was used for invitations to join a network.

Therefore don’t be surprised with aggravating results of LinkedIn.

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