We've heard our whole lives that there's no such thing as a free lunch, so it's only natural for people to suspect Facebook might start charging for its service. This rumor seems particularly plausible when you consider arguments like the one Slate magazine writer Farhad Manjoo put forth in a column from 2008. Manjoo pointed out that if even 5 percent of Facebook users agreed to pay $5 a month for the service (with the remaining users downgraded to limited accounts), Facebook could generate hundreds of millions of dollars a year in membership fees alone.
Fortunately for Facebook users, the company currently has no plans to start charging for the service. According to a Business Week interview with Facebook COO Sheryl Sandberg, Facebook is profitable and growing quickly based only on the strength of its advertising revenues. So while it's hard to look in to the future and say with certainty what Facebook's business model will look like, for the time being Facebook addicts can keep their money in their wallets when they log on. The next Facebook myth also has huge financial implications, but not for Facebook users. Read on to see why.