The myLot Business Model
By shah1984
@shah1984 (8)
United States
November 17, 2006 6:49am CST
Hi
I am Shah. I keenly follow the evolution of internet businesses. Do you think the myLot model is sustainable in the long term?
The only source of visible revenue as of now to this site is through ads. Social networking sites are a great way to reach out to the target customers.
I guess this(myLot) is a good idea though not necessarily the first site to share their ad revenues with the content generators(users).
But as the internet, technology and people keep evolving..soon we might be bored of this virtual world and want to meet and socialise with real people which lasts for longer durations. So it would be great if the social networking sites could come out with real meeting clubs too.
As of now, its the users who take the initiative. But investing in physical infrastructure is costly and further a tedious job. So rather these sites should tie up with local/internation/regional clubs for memberships.
Kindly post you thoughts/ideas how the social networking sites should evolve or what you would expect.
4 responses
@Kelian (768)
• Trinidad And Tobago
17 Nov 06
I have been thinking about the sustainability of this site as well. I don’t know if this forum will evolve into actual physical social clubs, although it can be used to recruit people for clubs.
I do see some flaws in the business of MyLot. I don’t believe this site has a suitable user interface. People will use it for now because they are getting money, but if another company opens another similar site that pays, but has an organized user interface like that of Yahoo answers, a lot of their users will be lured away and they will lose out. Also, they’re payment is unpredictable. They provide no guidelines and the users can only venture guesses as to what exactly they are being paid for. So unless there is improvement in this site, it may not last.
@shah1984 (8)
• United States
17 Nov 06
Yeah. I actually want to respond back to this thread but i don't a provision for that.
This site might generate an initial buzz and the domain www.mylot.com might become very popular and the owners can make money selling it :)
Exactly, I voice your opinion. In the long term only quality will survive. No body will come everyday to this site to only see threads like "Do u like flowers", "Does women like men's hairy chest" and all crap.
There need to be a way to organise communities and topics. I would really like to know how you people found this post out?
An orkut style interface would be good though not the best. Nothing wrong in copying, Microsoft does (only???) that!
This site is far from good except for money. And when they can give away so much money to the users why don't they put good designers in place?? Huh..
@tsamcq (457)
• United States
17 Nov 06
I think user visits will dwindle. The posts are not organized and are just out there. I see 40 new discussions on the same thing everyday and the topics usually require yes/no answers. People are lucky to make $1.00 a day. We crave intelligent conversation and aren't getting it here. So for the people here to waste time will stay, but those that want to make money or have a decent discussion will probably go away.
1 person likes this
@shah1984 (8)
• United States
17 Nov 06
In my opinion NO. In the long run, the sites that give an integrated services will only survive.
I would not like to have 10 different logins for mail, chat, social networking and so on.
So either these sites should expand in to other services or should merge with bigger players.
If they need to really stand out and survive. They should be niche layer serving say only youth(that in itself is complex crowd to serve), or doctors, space scientists and so on. Only user generated content will not survive. They eed to be validated.
@nevsaynev131420 (44)
• China
17 Nov 06
I have never dramed that I can make money from the use of internet.Most time ,I employ it to search for some useful files,but more often I think I am killing time as well as killing myself.Well,I want to practice my english first !
