I would buy Meebo to solve the communication “problem”. I know this is tired ground..but how annoying is the email client on the site? What about an instant messenger app that is a bit more fluid, allows users to have multiple conversations in a much more dynamic fashion? Wonder what this would cost? Surely less than $250m…and think of the time spent/engagement factor..multiples of what it is now with something Facebook users would actually “enjoy” using vs loathe as is the case now?
If I had $250m..and spent a portion on fixing my many-t0-many communication problem (see above)…i would then possibly explore mobile? What about identifying where my friends are on a grid, enabling them to update in real time to their site, etc and/or communicate with each other or having the service point out items of interest to me or recommendations from friends? As TechCrunch stated… “a pairing of the two most hyped tech products of the year: Facebook released what is arguably the single best iPhone-customized website to date at iphone.facebook.com. But open that thing up in an iPhone and you’ve got a very usable site.”
Something more is required! Will be interesting to watch!