While I still think that Facebook is the best place to validate your business idea, as soon as you prove it out, you should consider if the Facebook platform will continue to work for you long-term.
If you're starting a software business, here are some of the potential downsides that Chen notes:
- Ad rates are increasing
- Virality is harder to achieve
- Engagement is limited -- Most people only look at 10-20 items in their feed at a time
IMHO an additional note is that you're more likely to get funding for a mobile app than a FB-only app right now.
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