Spotify investor and former Facebook President Sean Parker had some harsh words for his favorite social network: Its problem isn’t privacy, it’s that some of its most active users are leaving for other services.
“The threat to Facebook is that power users have gone to Twitter or Google+,” Parker told the Web 2.0 Summit. They are leaving, he says, because Facebook isn’t giving them enough ways to manage a glut of information.
Parker: The digital revolution has removed barriers to sharing music. It doesn’t cost extra to create another copy of a song anymore and it’s easier than ever to get recommendations for music from friends. The result is that labels are lagging behind because they have layers of bureaucracy and protocols they no longer need. Bands are responding by using other distribution mediums (such as Spotify) in order to take charge of their own destinies.