Wednesday, July 6, 2011

Facebook: 700 Billion Minutes and Opportunity Costs


I recently saw that 700 billion minutes were spent on Facebook in one month. I crunched the numbers and did some analysis.

-700 billion minutes is equal to 1.3 million years (again this is just the time spent on Facebook in one month)

-700 billion minutes also equals around 11.66 billion hours. So assume the value of just one hour on Facebook is $1 this means that $11.66 billion is wasted on Facebook in just one month. If we assume $10 per hour this would mean $110.66 billion dollars again in only one month. People have to understand these opportunity costs!

Question:
Is the aggregated amount of time on Facebook really worth it?

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