Speaking on CNBC’s “Squawk on the Street” program Monday, Eric Jackson, founder of Ironfire Capital, said that Facebook will lose its dominance as a social network in five to eight years.
In his forecast, Jackson cited Facebook’s inability to crack the mobile market and the stock’s 27 percent nosedive since the company’s IPO.
“In five to eight years they are going to disappear in the way that Yahoo has disappeared,” Jackson said. “Yahoo is still making money, it’s still profitable, still has 13,000 employees working for it. But it’s 10 percent of the value that it was at the height of 2000. For all intents and purposes, it’s disappeared.”