Earlier this month Stephen Haines (commercial director of Facebook’s U.K. operation) raised a ‘startling if self-promotional possibility’ when he asked the following question at the Technology for Marketing and Advertising conference; Will Facebook replace company Web sites?

In the following fascinating video Scott Galloway (Professor at the NYU Stern School of Business where he teaches brand strategy and luxury marketing) furthers that ideology in part by predicting that:

“Facebook is going be the most valuable company in the world within 24 months.”

Noting that many young people already use Facebook like an online operating system, Galloway argues the social media giant may represent the evolution of online life: “If Facebook gets to forty or fifty percent of the internet, then effectively Facebook has become the internet.”

Video Date: February 2011