Today at the Facebook news conference at its Pal Alto headquarte, "a reporter asked CEO and founder, Mark Zuckerberg what he thought of Google+?"
Zuckerberg responded by saying that "lots of companies are going to build things like video chat, but Facebook competitors also have to build up their social graph first. Facebook's job is to just keep innovating." Actually, he's exactly right--the challenge is to get the user base, and make it easy for them to use your product.
Zuckerberg also pointed out in his response to the "Google+ Hangout" question, that one-on-one video chat will be the more common use case (Google+ has "Hangout" which allows 10 users to video chat at once). Again, perfectly reasonable, and probably right. Many sites have group video chat, Google+ isn't the first, nor is Hangout a game-changer. What you need here is the user base, which currently only Facebook has, and people will more likely talk one on one (like we do on the phone, duh).
What remains to be seen, is which model will users prefer in the long run--Facebook "Groups"--which function more like an old-school Yahoo Group with a Forum built-in). Or Google+ "Circles"--which's more like an email distribution list meets Twitter with better commenting. The two are actually very similar, but each probably does certain things better than the other. Thinking about what each model does better is probably the key to unlocking what "model" is going to "win."
Zuckerberg punctuated his "awesome" announcement today by revealing that users are now publicly sharing around 4 billion "things" (status updates, images, etc) on Facebook a day.
Zuckerberg explained that in accordance with Facebook's data, social sharing functions exponentially, so that the amount of stuff you shared today is twice the amount of stuff you shared a year ago and the stuff that you'll share a year from now will be twice the amount you've shared today. In Zuckerberg's Law of Social Sharing, Y = C *2^X -Where X is time, Y is what you'll be sharing and C is a constant.
Zuckerberg provided the example of a piece of paper folded upon itself 50 times. "If you took a piece of paper and folded it on itself 50 times how tall would it be?" He continued, "Most people would say a few feet … Turns out it goes to the moon and back 10 times … I mean its 2^50 * the height of the paper, it's a small base doubling many times."
Whether Zuckerberg's concise prediction of human sharing behavior is accurate remains to be seen. As Chris Dixon points out, it seems kind of absurd that people will be sharing 1,048,576 (2^20) times the items of information they are sharing today twenty years from now.