Facebook is quietly eating up all the time we spend on the web at the expense of all other static non-Facebook sites, according to an analysis by Ben Elowitz CEO and founder of Wetpaint, a digital media startup.

If you exclude online video, and mobile web consumption, Elowitz says, "the web is shrinking." He says the rest of the web is quickly becoming "irrelevant," and argues that in the future companies will need to spend less time on SEO, and more time on optimizing for Facebook.

It's an interesting outlook, and worth a read here.

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