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Facebook's Fecal Finger
It wasn't long ago at all - just a few months, really - that Facebook was christened as the salvation of the Silicon Valley. Everyone wanted to work there; everybody wanted a piece of their IPO; everyone dreamed of how rich they could get if they could get just a little slice of the social media pie with their own three-person startup backed by $5 million in venture funding.
Things have changed quite a bit. With Facebook's stock now at a 50% loss (measured against its high, set within minutes of the May 18th initial public offering), it's becoming clear that just about every entity - human, corporate, and the way things are going, perhaps even extraterrestrial - that touches Facebook gets the zap put on them. Off the top of my head:
+ Zynga - whose stock is down over 80% from its own high, having attached itself to the Facebook star and the promise of Earth's population playing FarmVille for the rest of their lives;
+ NASDAQ - which is still struggling to come up with a huge payoff to the affiliated parties that lost so much money by participating in one of the highest-visibility IPOs in history;
+ Broker/Dealers - such as Knight Capital, which lost tens of millions of dollars be being involved with the completely botched IPO;
+ The Investing Public - which has lost billions and billions (best said in a Carl Sagan voice) by jumping on to the FB bandwagon;
+ Newer Facebook Employees - There is a caste system already in place in Menlo Park at the Facebook headquarters, located just a couple of miles from where I'm sitting. The brahmin are those who showed up early and have secured their billions (or hundreds of millions) by being at the right place at the right time. The untouchables are the poor slobs who came on board more recently and whose options are deeply underwater. The rich kids might decide just to take their fortunes with them; the rest of the employees will realize that they are pretty much working For Just A Salary (instead of guaranteed millions from the explosively successful FB options) and might feel a skosh resentful.
+ SecondMarket, SharesPost, and their ilk - Surely you recall how much press and attention these web sites were getting - - accredited investors got the privilege (!) of buying stock in firms like Twitter and Facebook from other individuals. I don't recall where Facebook peaked pre-IPO, but it at well over twice the current public market price.
+ Startups - Lastly, the bloom's fairly well off the rose here in the Silicon Valley with respect to social startups. After all, if the cream of the crop like Facebook has become a worldwide embarassment, what sort of appeal does yet another three-person firm of 21 year old kids have?
Of course, I think all of this is actually pretty healthy. The lunacy around Facebook was getting completely ridiculous, and now as Facebook confronts reality and recognizes that the suck part of being public is actually having accountability to shareholders, maybe they'll focus on creating products that are at once popular, useful, and very profitable. Suffice it to say that a lot of folks owning FB have decided that they're in it for the long haul at this point. They don't really have much of a choice.
- advertisements -
who's LOWELL? or is that Yo-rEl-ko?
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Hey ZUCKER
GODDAMN! Must be autumn or early winter there, she's storing fat in her thighs
So that's what a billion dollars gets you? Fuck it, I'll stay broke.
That's not a man?
it's his sister
http://t2.gstatic.com/images?q=tbn:ANd9GcRW_emFeLi2E-7nvtWlNjR2U9gJDghO8...
Wonder how many people have "Unfriend"ed Suckerberg since the IPO...
I'm surprise FB gets so much attention. Did anybody actually buy this ? Like buying a turd with a hidden microphone in it.
Hell yes, you want to hear about it? I bought it first at $40, a small amount, then averaged with $27. Sold half at around $32, just bought more and I'll wait. If it goes to $15, I'll buy more.
What if it goes to $ 5 ?
I'll cry.
Real men don't cry, they kick some ass!
"Suffice it to say that a lot of folks owning FB have decided that they're in it for the long haul at this point. They don't really have much of a choice."
What do you call a failed trade?
An investment ;o)
That's when your trade becomes an investment, stupid argument. Dump it and move on.
Here in my lab, I've been vocal about FB being utterly worthless from the beginning.
Some of the dopier people around here STILL think that I'm the one who doesn't get it. They tell me that I'm not sociable enough and wouldn't understand the value in a company like FB. Good grief!
(and never mind that I spent over twenty years in PR and advertising and very definitely DO get it).
I blog about Facebook's success from Myspace!
Corporates would love facebook to go away. All those people sharing what they don't like is the problem.
Corporations LOVE FB, especially for screening (and termnation with cause at the ready, if there is FB time on company computers).
Check out what HireRight does with client workers' social data. It's a gold mine.
So what use facebook for sharing opinions, connections and not at work. Don't be stupid. Are you stupid?
Yep. Been there, done that too. There’s nothing better to rile a little resentment like working right next to a new-money someone who is just exactly like you in every way; credentials, intelligence, productivity, ideas, performance, etc., etc. Except lucky for them, they just arrived before you, or were just in the right place at the right time.
It’s probably a case of age discrimination for me to say further that it probably doesn’t help when that new-money someone is fresh out of school, and you started working in your field of expertise before they were born. So sue me.
Waa, waa, waaaa. Life is unfair. Waaa.
government tracking device. military weapon created to monitor, track and store data.
the forced technology will fail ...wakeup all you robots holding your handheld devices. diseased and clueless of it
yep, perfect tool of the government and all the useful idiots that participate
Do you mean it's a device for us to communicate with people to track the government?
All this facebook bashing is LOL. Fucking 500M users a day. OK.
And quality users they are. Big spenders, turning to FB for all their shopping needs.
I've bought some shit from a facebook link. But it doesn't matter. Where are the quality shoppers. The Hamptons? LOL.
You're a little reminder of why there really isn't any hope. Go ahead, vote for Odumbo again; I don't care, I'm going to New Zealand.
I'm not waiting around to vote, I'm in local elections and going to Tampa.
Most are at work. Not fermenting on a couch playing FarmVille. Oh look! Cheezy Gravy Fries are now available for delivery in economical pallets!
government tracking device. military weapon created to monitor, track and store data.
the forced technology will fail ...wakeup all you robots holding your handheld devices. diseased and clueless of it
Yeah . . . FB and the ipod might be spies that make it easier to follow our every GPS pinpointed daily activity . . . but who cares about Liberty when youre 'trendy' ?
long 'trendy'
short Liberty
Its all worthless, sell, sell, sell
Would be nfty to post a list of the analysts calling FB anything above a sell. Then see how they did after 8/19/12. The opening stampede to unload on Monday morning should be a sight to behold.
Personally, I am changing my recommendation from "Strong Sell" to "Flee"
I wonder how Mark can go into work everyday and face those he himself has screwed over with his own greed....
No wonder he got married young.... wonder if wifey purchased some FB puts as part of the prenup!
The last thing guys like this do is go in and hang with the troops. They show up (or not) and disappear into the office for a conference call with investors, maybe plot a new scheme (hey! let's change EVERYTHING!) then it's off to the golf course or some trendy restaurant.
FartBukkake...this shit stock is destined for 5 bucks or lower.
These douches will not be able to create squat, and even if, their "loyal" users will balk at paying them anything.
After all, this douche company's motto is "It's Free, and It Always Will Be"
...asinine.
She better divorce him while his net worth is still in the stratosphere.
Why did Zuckerberg get married? It's like a superstar athlete getting married while in the prime of their career. It would be more fun to enjoy women throwing themselves at you for a few more years.
"Why did Zuckerberg get married?"
It's a cover. An openly gay CEO isn't good for biz.
God, did you see the "wife?". The dude has got to be 127% Gay.
The only thing women will throw themselves at is his wallet.
Once she squirts out 5 or 8 heirs, they wll embark on a world tour, lecturing all about the need for population control.
Didn't he get married the day after the IPO? Which would sepeate all his FB wealth from the marriage wealth?
Seems to be he's been living in a bubble for so long, any congigal visit is worth the comittment.
Trying to show shareholders he is as intelligent as they are.
I won't argue with much that Tim has to say except that it's not at all healthy that we have capital markets that allow pump and dump schemes like this to exist. The whole thing is a sham and designed to take retail money from lemmings who have been conditioned to seek returns on risky assets since Treasury yields are being suppressed via monetization, sterilized or otherwise.
Retail lemmings buy what they know . . . which is crap.
So they buy crap.
It has to be done - Monkey smelling finger http://www.youtube.com/watch?v=DzZqje04vLE
I doubt I'll see a more profound response today.
Once again the class clown makes the most sense.
its 1999 again.. the village.com= znga..pets.com=groupon..aol= facebook..etc
No cream, no sugar please.
their kids will be HIDEOUS. although it is good to see the Jews setting their sites on the next parasitic host body-China
+10
unlike the americans, the chinese will execute the conspiring geulos military style