SquirrelBook: My offer to you

So it hit me today.

I was thinking about all the talk about Facebook's planned Initial Public Offering (IPO). Estimates for the valuation range between $80 - 100 billion. Billion. As in three commas. US dollars, not Zimbabwe dollars. All for a site that just connects people together and changes its appearance (to its detriment) and shares your most personal information (although they said they would not).

That is when it hit me. For ease of math, lets split the difference on Facebook's valuation at $90 billion. As of December 2011, there were 840 million users. Again, for ease of math, lets say that has grown in the past month and half, so round it up to 900 million users. At $90 billion, that works out that Facebook is making $1000 for every user they have. $1000 per person to Zuckerburg and other Facebook owners, all for sharing your personal details, photos, likes, dislikes and connection to your friends. For all that you give, Facebook users get nothing, aside from an onslaught of poorly conceived ads and the possibility of having your privacy invaded and identity hacked. This hardly seems fair.

I think it is time to propose a different arrangement. Instead of others profiting from your privacy, I think users should be the one who profits. I am proposing a new social media site - lets call it SquirrelBook, which I would like you to join. We would ask you share some information, but only as much as you are comfortable doing. Use fake names and create an alternate identity if you like. Once we get enough of a critical mass, we will have an IPO, at which time, I promise to give every member a share of the proceeds.

Now, because I am not asking for as much personal information, the valuation will be lower. Lets say, it is half as good as Facebook's, so $500 a person. At a 50-50 split, that would be $250 to you. Heck, I don't want to be greedy - in order to get folks to sign up, I'll reduce my cut to 10%. You will get $450.

Since you now have a choice in your social network platform, lets compare the potential IPOs and the benefit to you:

Facebook: All your information is shared and you are automatically opted in to any changes that occur. In return you get nothing and Facebook makes $1000 off of you.

SquirrelBook: Limited information shared and the creation of alternate identities is encouraged. In return you get $450.

I think the choice is clear. We look forward to seeing you on SquirrelBook.