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Facebook Files IPO Prospectus
The most eagerly awaited IPO of the decade has just filed its S-1 statement (link). Some real time observations:
- Symbol: FB
- Proposed maximum aggregate offering price: $5 Billion
- 845 million monthly active users (MAU)
- 483 million daily active users (DAU)
- Users generated on average 2.7 billion Likes and Comments per day in Q4 2011. Er..."liking" is monetizable?
- 100 billion friendships
- 250 million photos uploaded per day
- FB generated $3.7 billion in Revenue in 2011, up from $2 billion in 2010
- FB generated $1 billion in net income in 2011, up from $606 billion in 2010, a 40% growth rate, compared to the 165% growth rate from 2009's $229MM.
- EBIT margin peaked at 52.3% in 2010 ($1MM in EBIT on $2 billion in revenue), has since declined to 47.3% or $1.756Bn on $3.711Bn in Revenue
- $3.9 billion in cash and marketable securities
- Effective January 1, 2013, Mr. Zuckerberg’s annual base salary will be reduced to $1.
- Entities affiliated with Goldman Sachs own 65.9 million Class A shares or 56.3% of total, Zuckerberg owns 36.1% of Class A, and 57.1% of Class B (all pre offering)
- Peaked model? - MAU additions peaked in 2010 when FB added 248MM to a total of 608MM; in 2011 it added 237MM to 845MM
- What happens when Zynga goes: "Revenue from one customer, Zynga, represented 12% of total revenue for the year ended December 31, 2011"
- Some revent valuation data points: In December 2010, we sold an aggregate of 2,398,081 shares of our Class A common stock to DST Global Limited at a purchase price per share of $20.85, for an aggregate purchase price of approximately $50 million.
Mark Zuckerberg's letter:
Facebook was not originally created to be a company. It was built to accomplish a social mission — to make the world more open and connected.
We think it’s important that everyone who invests in Facebook understands what this mission means to us, how we make decisions and why we do the things we do. I will try to outline our approach in this letter.
At Facebook, we’re inspired by technologies that have revolutionized how people spread and consume information. We often talk about inventions like the printing press and the television — by simply making communication more efficient, they led to a complete transformation of many important parts of society. They gave more people a voice. They encouraged progress. They changed the way society was organized. They brought us closer together.
Today, our society has reached another tipping point. We live at a moment when the majority of people in the world have access to the internet or mobile phones — the raw tools necessary to start sharing what they’re thinking, feeling and doing with whomever they want. Facebook aspires to build the services that give people the power to share and help them once again transform many of our core institutions and industries.
There is a huge need and a huge opportunity to get everyone in the world connected, to give everyone a voice and to help transform society for the future. The scale of the technology and infrastructure that must be built is unprecedented, and we believe this is the most important problem we can focus on.
We hope to strengthen how people relate to each other.
Even if our mission sounds big, it starts small — with the relationship between two people.
Personal relationships are the fundamental unit of our society. Relationships are how we discover new ideas, understand our world and ultimately derive long-term happiness.
At Facebook, we build tools to help people connect with the people they want and share what they want, and by doing this we are extending people’s capacity to build and maintain relationships.
People sharing more — even if just with their close friends or families — creates a more open culture and leads to a better understanding of the lives and perspectives of others. We believe that this creates a greater number of stronger relationships between people, and that it helps people get exposed to a greater number of diverse perspectives.
By helping people form these connections, we hope to rewire the way people spread and consume information. We think the world’s information infrastructure should resemble the social graph — a network built from the bottom up or peer-to-peer, rather than the monolithic, top-down structure that has existed to date. We also believe that giving people control over what they share is a fundamental principle of this rewiring.
We have already helped more than 800 million people map out more than 100 billion connections so far, and our goal is to help this rewiring accelerate.
We hope to improve how people connect to businesses and the economy.
We think a more open and connected world will help create a stronger economy with more authentic businesses that build better products and services.
As people share more, they have access to more opinions from the people they trust about the products and services they use. This makes it easier to discover the best products and improve the quality and efficiency of their lives.
One result of making it easier to find better products is that businesses will be rewarded for building better products — ones that are personalized and designed around people. We have found that products that are “social by design” tend to be more engaging than their traditional counterparts, and we look forward to seeing more of the world’s products move in this direction.
Our developer platform has already enabled hundreds of thousands of businesses to build higher-quality and more social products. We have seen disruptive new approaches in industries like games, music and news, and we expect to see similar disruption in more industries by new approaches that are social by design.
In addition to building better products, a more open world will also encourage businesses to engage with their customers directly and authentically. More than four million businesses have Pages on Facebook that they use to have a dialogue with their customers. We expect this trend to grow as well.
We hope to change how people relate to their governments and social institutions.
We believe building tools to help people share can bring a more honest and transparent dialogue around government that could lead to more direct empowerment of people, more accountability for officials and better solutions to some of the biggest problems of our time.
By giving people the power to share, we are starting to see people make their voices heard on a different scale from what has historically been possible. These voices will increase in number and volume. They cannot be ignored. Over time, we expect governments will become more responsive to issues and concerns raised directly by all their people rather than through intermediaries controlled by a select few.
Through this process, we believe that leaders will emerge across all countries who are pro-internet and fight for the rights of their people, including the right to share what they want and the right to access all information that people want to share with them.
Finally, as more of the economy moves towards higher-quality products that are personalized, we also expect to see the emergence of new services that are social by design to address the large worldwide problems we face in job creation, education and health care. We look forward to doing what we can to help this progress.
Our Mission and Our Business
As I said above, Facebook was not originally founded to be a company. We’ve always cared primarily about our social mission, the services we’re building and the people who use them. This is a different approach for a public company to take, so I want to explain why I think it works.
I started off by writing the first version of Facebook myself because it was something I wanted to exist. Since then, most of the ideas and code that have gone into Facebook have come from the great people we’ve attracted to our team.
Most great people care primarily about building and being a part of great things, but they also want to make money. Through the process of building a team — and also building a developer community, advertising market and investor base — I’ve developed a deep appreciation for how building a strong company with a strong economic engine and strong growth can be the best way to align many people to solve important problems.
Simply put: we don’t build services to make money; we make money to build better services.
And we think this is a good way to build something. These days I think more and more people want to use services from companies that believe in something beyond simply maximizing profits.
By focusing on our mission and building great services, we believe we will create the most value for our shareholders and partners over the long term — and this in turn will enable us to keep attracting the best people and building more great services. We don’t wake up in the morning with the primary goal of making money, but we understand that the best way to achieve our mission is to build a strong and valuable company.
This is how we think about our IPO as well. We’re going public for our employees and our investors. We made a commitment to them when we gave them equity that we’d work hard to make it worth a lot and make it liquid, and this IPO is fulfilling our commitment. As we become a public company, we’re making a similar commitment to our new investors and we will work just as hard to fulfill it.
The Hacker Way
As part of building a strong company, we work hard at making Facebook the best place for great people to have a big impact on the world and learn from other great people. We have cultivated a unique culture and management approach that we call the Hacker Way.
The word “hacker” has an unfairly negative connotation from being portrayed in the media as people who break into computers. In reality, hacking just means building something quickly or testing the boundaries of what can be done. Like most things, it can be used for good or bad, but the vast majority of hackers I’ve met tend to be idealistic people who want to have a positive impact on the world.
The Hacker Way is an approach to building that involves continuous improvement and iteration. Hackers believe that something can always be better, and that nothing is ever complete. They just have to go fix it — often in the face of people who say it’s impossible or are content with the status quo.
Hackers try to build the best services over the long term by quickly releasing and learning from smaller iterations rather than trying to get everything right all at once. To support this, we have built a testing framework that at any given time can try out thousands of versions of Facebook. We have the words “Done is better than perfect” painted on our walls to remind ourselves to always keep shipping.
Hacking is also an inherently hands-on and active discipline. Instead of debating for days whether a new idea is possible or what the best way to build something is, hackers would rather just prototype something and see what works. There’s a hacker mantra that you’ll hear a lot around Facebook offices: “Code wins arguments.”
Hacker culture is also extremely open and meritocratic. Hackers believe that the best idea and implementation should always win — not the person who is best at lobbying for an idea or the person who manages the most people.
To encourage this approach, every few months we have a hackathon, where everyone builds prototypes for new ideas they have. At the end, the whole team gets together and looks at everything that has been built. Many of our most successful products came out of hackathons, including Timeline, chat, video, our mobile development framework and some of our most important infrastructure like the HipHop compiler.
To make sure all our engineers share this approach, we require all new engineers — even managers whose primary job will not be to write code — to go through a program called Bootcamp where they learn our codebase, our tools and our approach. There are a lot of folks in the industry who manage engineers and don’t want to code themselves, but the type of hands-on people we’re looking for are willing and able to go through Bootcamp.
The examples above all relate to engineering, but we have distilled these principles into five core values for how we run Facebook:
Focus on Impact
If we want to have the biggest impact, the best way to do this is to make sure we always focus on solving the most important problems. It sounds simple, but we think most companies do this poorly and waste a lot of time. We expect everyone at Facebook to be good at finding the biggest problems to work on.
Move Fast
Moving fast enables us to build more things and learn faster. However, as most companies grow, they slow down too much because they’re more afraid of making mistakes than they are of losing opportunities by moving too slowly. We have a saying: “Move fast and break things.” The idea is that if you never break anything, you’re probably not moving fast enough.
Be Bold
Building great things means taking risks. This can be scary and prevents most companies from doing the bold things they should. However, in a world that’s changing so quickly, you’re guaranteed to fail if you don’t take any risks. We have another saying: “The riskiest thing is to take no risks.” We encourage everyone to make bold decisions, even if that means being wrong some of the time.
Be Open
We believe that a more open world is a better world because people with more information can make better decisions and have a greater impact. That goes for running our company as well. We work hard to make sure everyone at Facebook has access to as much information as possible about every part of the company so they can make the best decisions and have the greatest impact.
Build Social Value
Once again, Facebook exists to make the world more open and connected, and not just to build a company. We expect everyone at Facebook to focus every day on how to build real value for the world in everything they do.
Thanks for taking the time to read this letter. We believe that we have an opportunity to have an important impact on the world and build a lasting company in the process. I look forward to building something great together.
Legal Proceedings:
Paul D. Ceglia filed suit against us and Mark Zuckerberg on or about June 30, 2010, in the Supreme Court of the State of New York for the County of Allegheny claiming substantial ownership of our company based on a purported contract between Mr. Ceglia and Mr. Zuckerberg allegedly entered into in April 2003. We removed the case to the U.S. District Court for the Western District of New York, where the case is now pending. In his first amended complaint, filed on April 11, 2011, Mr. Ceglia revised his claims to include an alleged partnership with Mr. Zuckerberg, he revised his claims for relief to seek a substantial share of Mr. Zuckerberg’s ownership in us, and he included quotations from supposed emails that he claims to have exchanged with Mr. Zuckerberg in 2003 and 2004. On June 2, 2011, we filed a motion for expedited discovery based on evidence we submitted to the court showing that the alleged contract and emails upon which Mr. Ceglia bases his complaint are fraudulent. On July 1, 2011, the court granted our motion and ordered Mr. Ceglia to produce, among other things, all hard copy and electronic versions of the purported contract and emails. On January 10, 2012, the court granted our request for sanctions against Mr. Ceglia for his delay in compliance with that order. We continue to believe that Mr. Ceglia is attempting to perpetrate a fraud on the court and we intend to continue to defend the case vigorously.
The Enforcement Division of the Securities and Exchange Commission (SEC) has been conducting an inquiry into secondary transactions involving the sale of private company securities as well as the number of our stockholders of record. In connection with this inquiry, we have received both formal and informal requests for information from the staff of the SEC and we have been fully cooperating with the staff. We have provided all information requested and there are no requests for documents or information that remain outstanding. We believe that we have been in compliance with the provisions of the federal securities laws relating to these matters.
Although the results of claims, lawsuits, government investigations, and proceedings in which we are involved cannot be predicted with certainty, we do not believe that the final outcome of the matters discussed above will have a material adverse effect on our business, financial condition, or results of operations. However, defending these claims is costly and can impose a significant burden on management and employees, we may receive unfavorable preliminary or interim rulings in the course of litigation, and there can be no assurances that favorable final outcomes will be obtained.
On Goldman's share holdings:
Consists of (i) 14,214,807 shares of Class A common stock held of record by The Goldman Sachs Group, Inc.; (ii) 2,598,652 shares of Class A common stock held of record by Goldman Sachs Investment Partners Master Fund, L.P.; (iii) 1,010,587 shares of Class A common stock held of record by Goldman Sachs Investment Partners Private Opportunities Holdings, L.P.; and (iv) 48,123,195 shares of Class A common stock held of record by FBDC Investors Offshore Holdings, L.P. Affiliates of The Goldman Sachs Group, Inc. are the general partner, managing general partner or investment manager of each of Goldman Sachs Investment Partners Master Fund, L.P., Goldman Sachs Investment Partners Private Opportunities Holdings, L.P., and FBDC Investors Offshore Holdings, L.P., and each of these funds shares voting and investment power with certain of its respective affiliates. The address of The Goldman Sachs Group, Inc., Goldman Sachs Investment Partners Master Fund, L.P., Goldman Sachs Investment Partners Private Opportunities Holdings, L.P., and FBDC Investors Offshore Holdings, L.P. is 200 West Street, New York, NY 10282.
Some valuation data points:
Class A Common Stock Financing
In December 2010, we sold an aggregate of 2,398,081 shares of our Class A common stock to DST Global Limited at a purchase price per share of $20.85, for an aggregate purchase price of approximately $50 million.
Commercial Agreements
During 2009, 2010, and 2011, The Washington Post Company and its related companies purchased $0.6 million, $4.8 million, and $4.2 million, respectively, of advertisements on our website. Mr. Graham, a member of our board of directors, is the Chief Executive Officer of The Washington Post Company. The purchases by The Washington Post Company and its related entities were made in the ordinary course of business on commercially reasonable terms. In addition, The Washington Post Company is affiliated with an advertising agency, Social Code LLC, that has advertising clients that do business with us.
During 2009, 2010, and 2011, Netflix purchased $1.9 million, $1.6 million, and $3.8 million, respectively, of advertisements on our website. Mr. Hastings, a member of our board of directors, is the Chief Executive Officer of Netflix. The purchases by Netflix were made in the ordinary course of business on commercially reasonable terms.
During 2010 and 2011, we made payments to GMG Lifestyle Entertainment Inc. (GMG) of $0.9 million and $0.7 million, respectively, for certain sales and marketing services. Rob Goldberg, the founder and Chief Executive Officer of GMG, is the brother-in-law of Ms. Sandberg, our Chief Operating Officer. The GMG relationship was entered into in the ordinary course of business and on commercially reasonable terms.
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Why does all the media want people to think this thing is going to start trading today?
Pump & Dump baby! This thing will be oozing santorum within a week.
I plan on buying shares of Friendster.com and Myspace.com, instead.
I think line 4 is supposed to read, "483 million fuckin' idiots."
I know more than a few women that have monetized "like".
I'd like to monetize a few women.
FB will be a cash machine as soon as they iron out the internet gambling rules in the US.
And they have a corner on the online gambling market precisely how ... ?
Regards,
Cooter
Maybe a new company called CaChynga?
Um, what does this company make, again? I'm trying to figure out how you can generate a billion dollars in revenue by simply providing the world's largest chat room.
I am Chumbawamba.
Seems folks "friend" each other (with benefits) quite readily nowadays.
Yo, Trav, when's the RaceBook IPO?
you mean where everyone just get racist with everyone?? or Hatebook? that one is good
Hate book....is that like Fight Club?
How long until I can buy puts on this overvalued turd of a company again?
During my housing bubble blogging days, an FB is known as a Fucked Buyer.
facebook (-----strike through not working)
RFIDBook - coming to a melon near you...
Face Book = Face Palm
Between social notworking and smart phones, BigB has us in his sights and in his minds 24/7. The Architect.
Come into my parlour, said the SpYder to the Fly.
ori
/twit-twit-2hooo/
I was very encouraged to find this site. The reason being that this is such an informative post. I wanted to thank for this informative analysis of the subject. I ate every bit of it and I submitted your site to some of the biggest social networks so others can find this blog.
buy facebook fans
Facebook.
At the implied market capitalization of $100 billion, some $40 billion larger than both 3M and Altria, $8 billion more endowed than ConocoPhillps, and four times the value of Lockheed Martin.
Facebook. The very flower of absurdity; yet, will make those Wall Street grifters of record who are jobbing this issue fabulously rich-er.
Caveat emptor, fools who would consider this...
I know what you mean. ANd he new Facebook timeline cover is stupid.
Fight Club is not so much about hate, but resurrection through fight. Pure love.
Facebook though: they monetize faces now, but there are so many body parts left, follow-ups to include: assbook, bellybook, nipplesbook, feetbook, handbook. I can see big potential here.
Anthony Weiner is planning to IPO weinerbook next February
Um, what does this company make, again?
narcissists
if that's the case i should be buying.
Ya know, it took me a while to figure that one out because I never facebooked, but finally I see what you did there. Greenie for you.
LOL! Too damn true. Isn't mostly older people and losers now. Kids are running away from FaceBook because their parents and granny use it.
FB will be the next MySpace. They're already losing subscribers to twitter.
what about the new facebook timeline?
THey have the largest existing network.
The US government ran the largest proprietors out of business paving the way for these idiots.
The online poker rooms with thousands of tables going were cash machines until the US government stepped in.
And who better to take advantage of the shift in the DOJ stance on 12/31 than facebook,
the answer is nobody.
Besides that the herd here was out panning the Linkln IPO not that long ago as the stock is only trading $30 higher than the IPO.
Did you buy LNKD at the $121 intraday high on IPO day?
Outside the U.S. the online gambling services are still alive and kicking.
While waiting for online gambling in the U.S. to become legal there are some under-the-rader services. Like SealsWithClubs.org online poker -- uses bitcoins not dollars. StrikeSapphire.com also is a bitcoin-based online gambling service but they don't allow users from the U.S.
The poker sites were ponzi schemes.
C'mon, it's not a stretch or conspiracy-rad theory to think government intelligence services work hand-in-hand with the Googles and Facebooks of the world to essentially use them [directly or indirectly] as cost-effective data aggregators.
(How short is collective human memory? Didn't we just learn that phone and internet companies were handing over all the data the U.S. government demanded, absent any warrant whatsoever, ala AT&T, Verizon, etc. a few years ago?)
To what extent government or governmental agencies participate in the formation and ongoing affairs of such entities is a matter of pure conjecture for those not privy to such 'sensitive' matters, but it's not the least bit "wildly speculative" to at least assert there's a better than not chance that a popular search engine or social networking site wouldn't be prime terra firma for intelligence gathering.
FB is the Air America of the internet age.
Funny, an In-Q-Tel board member is one of the three men behind Farcebook....
http://ed-strong.com/cia-venture-capital-fund-in-q-tel-involved-in-facebook
Ticker symbol should have been FBI.
pods
FB<o>
'zactly...having an account with google or facebook and their ilk could one day prove costly
dont forget everyone's favorite iSpy.....AAPL
Pre-crime - Internet Division
The investment arms of the CIA and Google are both backing a company that monitors the web in real time — and says it uses that information to predict the future.
The company is called Recorded Future, and it scours tens of thousands of websites, blogs and Twitter accounts to find the relationships between people, organizations, actions and incidents — both present and still-to-come. In a white paper, the company says its temporal analytics engine “goes beyond search” by “looking at the ‘invisible links’ between documents that talk about the same, or related, entities and events.”
http://www.wired.com/dangerroom/2010/07/exclusive-google-cia/
Meet In-Q-Tel the CIA's Venture Capital Firm
http://www.corbettreport.com/meet-in-q-tel-the-cias-venture-capital-firm...
I think line 4 is supposed to read, "483 million fuckin' idiots." casas prefabricadas
Totally agree, All my friends are in FB and I have never even wanted to entertain the idea. I do not want to see happy ,smily drunken party goers, Personel pictures of little kids etc. Has our lives become so stupidly busy that we cannot even have memory. We need technology to keep up with WHAT? I want special moments to remain special TO THE PEOPLE INVOLVED not the entire world. When will people wake up and realise that we are becoming fodder to the mills of technology and consumerism.
I had a FB acct. for about 6 years...finally cancelled it...I call it "Sheeplebook"
Are you sure? As I understand it, that's something about FaceBook most people don't understand. Once you set-up a profile it is impossible to truly delete. It may be 'inactive', but it is never 'purged'. FB maintains your data for as long as it chooses....
Uh, NOTHING is purged from government databases, unless they're going to black-bag you under NDAA.
correct, delete as much as you can & they hold the rest.
That's why you give false information when you set up a profile. I was absolutely badgered for a while about 2 yrs ago to set up a FB page. Finally did it with a fake name, birthday, location, etc. Logged in 2 or 3 times back then. Never have bothered to try to delete it - don't remember my password at this point.
"483 million fuckin' GOY idiots! Hahahahah, willingly volunteer all your information to our Mossad network. We will consume every last resource from your country, and your bought politicians/media will continue to lead you to slaughter. The coup was complete on Sept. 11 2001. All your country are belong to US!"
483 million Dumbfaces Under Management (DUM)
people who buy this sheep dip wil get what they deserve...
Winners of the New World
Aside from those who have already made their money on this turd, as in the insiders (those on the subscription list), we're about to find out how many newly self-employed gamblers there are (in no small part to The Bernank's awesome monetary & now fiscal policies), and just how hungry and desperate they are, in the hopes that they can successfully intraday trade this POS and bank enough money to pay the utility/cable bill.
The stock will spike tomorrow, remain elevated a couple of days and then crash as the squid makes a killing. Calamari anyone?
FB is Qtr 2 offering, not 2/2/12.
Don't you mean mutton, anyone?
As I child, I had several Imaginary Friends. Then, in order to comment on sites that require it, I put up a FB page. Now, I have hundreds and thousands of Imaginary Friends. Ann Barnhardt: "Facebook is evil".
They're not going to turn the Internet off - oh, no. They're going to make it safe right under your nose. Enjoy your Internet ghettos, netizens.
Fakebook...yeah! Lazy po po loves and encourages all forms of warrantless surveillance
-Mel the house robber
I am selling the sheep dip. I am long 30 year treasuries and 3X short the S&P 500 with 96% of my assets. Come and get me ! LSAP are on the way...
Holding out for redtube's IPO.
I'm waiting for the Zero Hedge IPO.
I'll buy that for a dollar.
Breaking News; cheezeburger network to IPO at $20 billion.
Mmm, Mmm, Mmm...
I can haz LOLcat?
you jest but.....now that CNBS is actually paying homage to ZH, the hedgies can arbitrage their guidance, wouldnt be surprised to see ZH eventually exit ala IPO style
Awww, you said that out loud! I respectfully request that you delete your comment.
So many likes tells you the percentage of people that spank it on the internet. Awesome.
This is one of the right articles you can gain in the net explaining everything in particular regarding the subject. I thank you for action your abstraction sharing your thoughts and ideas to a lot of readers out there. write my essay
crammed this thing in all of a sudden we must have seen the top already in social networking, is something big coming? everyone will be showing pictures of their crops in the back yard and bikes in the new economy shortly
Hey, and DARPA and InQTel will be spinned off?
This guy has a good point: http://www.armadamarkets.com/market-info/kevin-kerr-on-markets/
Respectfully, please stop the relentless spamming.
Most of them can't read past a primary level. Just enough to read the TelePrompter. The rest is wardrobe and plastic surgery.
(see Obama, B H).
It puts the lotion on it's back or it get's the hose.
I do not think apostrophes mean what you think they mean.
C'mon don't misquote Buffalo Bill.
In finance, a prospectus is a document that describes a financial security for potential buyers. A prospectus commonly provides investors with material information about mutual funds, stocks, bonds and other investments, such as a description of the company's business. Thanks.
Regards,
email lookup
This is good site to spent time on .I just stumbled upon your informative blog and wanted to say that I have really enjoyed reading your very well written blog posts. I will be your frequent visitor, that's for sure..
best dissertations
This will be like watching the Hindenberg.... ;-)
Hindenburg crash
http://www.youtube.com/watch?v=YDU2MWJwJDc (1:14)
Dislike.
News to me
FB = Fucking Bastards. Hopefully they go the myspace way...
I saw Facebook once, and I didnt get the attraction at all....I figured it would have already died.
Even worse, they spy on the email-contacts of users in order to spam NON-users mail-inboxes with facebook ads
What's not to like? Everything you do is tracked so you and your friends can communicate without actually communicating. It's like gossip without all of the trouble of interaction. I watch my wife for example, scroll through her "wall" constantly, keeping up to date on the trivia in everyone else's lives.
In other words, its just another form of escapism, but of a kind that feels lifelike. There's a million productive things she could be doing, but instead, she just wastes her whole fucking life, one click at a time. But hey, at least I'm not bitter about it all. (or at least not nearly as bitter as she gets when I get onto her about time wasted in the Skinner-box called Crackville)
As for it dying, well, I don't think the CIA is gonna let that happen. At least not until they've made a better trap.
+1 for you. FB = honeypot for idiots.
I think FB falls into the "Huxley" bucket ...
http://www.recombinantrecords.net/docs/2009-05-Amusing-Ourselves-to-Death.html
Regards,
Cooter
Roger Waters agrees.
http://www.youtube.com/watch?v=uMijMWQlnUc
Interesting comic. Though I'd argue that these two views are hardly mutually exclusive, but rather complimentary, as each reinforce the other in building a totalitarian state via the paths of pain and pleasure.
I feel your pain. My wife steals all the fkn bandwidth playing Farmville 24x7. Makes it hard for me to read ZH.
As for it dying, well, I don't think the CIA is gonna let that happen. At least not until they've made a better trap.
PUTTING THE "FACE" IN FACEBOOK
They never stop refining the matrix. These are early stages. For all these people that think FB is going to fade, look at the usual suspects behind Google and you will see them in FB.
Where the over arching plan is to have a biometric identity requirement to control commerce and user access to the Internet one can easily see Facebook as the permanent overlying grid to literally and smugly enable the planned facial recognition requirement for web/commercial access. To wit:
5 Unexpected Places You Can Be Tracked With Facial Recognition Technologyhttp://www.alternet.org/news/152231/5_unexpected_places_you_can_be_track...
[snip]
August 30, 2011 | Earlier this summer Facebook rolled out facial recognition software that identifies users even when they appear in untagged photos. Like every other time the social networking site has introduced a creepy, invasive new feature, they made it the default setting without telling anyone.Once people realized that Facebook was basically harvesting biometric data, the usual uproar over the site's relentless corrosion of privacy ensued. Germany even threatened to sue Facebook for violating German and EU data protection laws and a few other countries are investigating. But facial recognition technology is hardly confined to Facebook -- and unlike the social networking site, there's no "opt-out" of leaving your house.
http://sflchronicle.com/news/2011/08/big-brother-has-a-bat-part-i-face-s...
[snip]
New technology is being used at a casino in Nevada, and at some bars in Chicago, which scans the faces of walkers-by and patrons, using their image as data for consumer purposes.
At the Venetian in Las Vegas, whoever is walking by a large LCD display screen will be shown a different menu of entertainment and restaurant options, depending on the person’s age and sex.
Facebook IPO Is US Intel Operation? http://thedailybell.com/3565/Facebook-IPO-Is-US-Intel-Operation
The NSA thanks you for using FaceBook. Please Like Us!
FB(i)
Put me down for a billion !
"I got five on it...."
Dollars or likes?
Much like gold, you can't eat 'likes.'
Invest in a .com for eyeball counts and ad revenue!
Gee, as long as we're not back in the dot.com bubble again or anything.
MAUDAU, bitchez.
symptomatic of shark jumping.
$3.9 billion in cash....so launch it with a 50 P/E and $100 billion market cap then? ALLRIGHTY then!
I may be off base here, but isn't P/E at 100 if their earnings were $1 billion?
The previous poster is joking about $100 Billion. If I read the info right, they are aiming to IPO at $5 Billion on $1 Billion net revenue, or 5 time P/E. If I'm not reading it right, someone let me know what I'm missing.
What percentage will Goldman and Zuckerberg have after the IPO? and what is the composition of A and B Class shares?
I've seen the future of Facebook and it's called MySpace. Anyone dumb enough to invest in this IPO deserves to loose their shit.
Something new and sexy will come along and kids will drop Facebook as quickly as they joined it. Within three years tumbleweed will blowing through that shitty piece of cyber terrain. But before then Zuckerberg and his cronies will have rode off into the sunset with their saddlebags full of idiot investors cash. Same as it ever was.
Thats it, the 'IPO phase' means 'We're cashing out of this bitch now and riding into the sunset'.
riding into the sunset, on an ox.
please enjoy the feature presentation.
http://images.search.yahoo.com/search/images?_adv_prop=image&fr=yfp-t-46...
So does this signal stock bubble top?
My family and I homesteaded at Farmville three years ago. Put in crops, raised some cattle, established an orchard...........Now all of this talk of an IPO. This place will be full of third-worlders before we know it.....higher taxes, shitty schools, roads all full of fucking chuck holes..............
Time to get all Mafia on them!
Jim Rogers said to buy farm land. I'm guessing that's why so many people are "Farmville" folks. Much like my neighbor who years ago said,"These Franklin Mint coins are my retirement plan."
With nearly 20% of the global population already signed up and their ever more intrusive privacy policies (which achieves nothing but piss people off)...Facebook is ripe for decline.
They are launching this IPO while the company is at it's peak...it's all downhill from here kids.
I'm looking forward to buying some OTM Puts on this bitch.
Asalam Alekem Mohammed,
Even broken clocks are right every now and then.
Once internet gambling is monetized in the US, facebook will be a cash cow.
But thanks for playing.
What are you envisioning? Friend-to-friend betting on sports and the such? If/when internet gambling is completely opened up in the US, I would imagine there will be a whole lot of competition.
All of his posts can and should be answered in the following manner:
"What you’ve just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone in this room is now dumber for having listened to it. I award you no points, and may God have mercy on your soul.”
You will find that response to be 100% applicable to every post he ever makes. I guarantee it.
internet is running short of trolls with an IQ over 50 these days. but methinks that is part of the idea... flood decent forums with shrill idiotic comments to dissuade posters with original thoughts from posting.
-Achmed the Great.
Seems like a lot of these trolls are operating from a Tel Aviv crack den offering 2 for 1 specials. Hence, the incoherent ramblings.
the more they keep at it... the more obvious the game becomes.
Exactly!
Constantly trying to dissuade me from posting original thoughts in favor of the mantra of the herd.
Nothing you Arabs post here that is even remotely original.
Evil zionistas, evil banksters, those damn biatches.
Real original content.
Well put Achmed the Great.
Hi Mohammed is there actually anything on this planet that you have clue one about and don't just regurgitate the herd mantra?
They have the largest network and the US government ran all their competition out of business.
There is no entity out there from the casino companies to the Betfair's of the world that can possibly compete given the depth of Facebook's penetration of the human race.
The poker rooms that had thousands of tables going at once were cash machines,
that void eventually will be filled by these people.
People want to play against morons and since there is no ZH poker, FB will do nicely in that regard.
The sports/casino games et al is just icing on the cake.
and it is not small money either. The total online gaming market incl for money and for not is currently $1.6trillion a year.
"Zynga Poker is the world's largest online poker game with more than 7 million people playing every day and over 30 million each month. We know from listening to our players that there's an interest in the real-money gambling market. We're in active conversations with potential partners to better understand and explore this new opportunity."
Aslam alekem.
lets say only 10% play real money,
that is 700,000,
or 70,000 tables, at $120/hr(which is ultra conservative based on the previous online rooms experiences)
is only $73,584,000,000 a year.
Make it 1% and it's still $7billion a year.
on poker alone.
But thanks for playing.
Not for long, ZOGsucker. It is all smoke and mirrors. Like Israel. 'Cept for the nukes.
Aslam Alekem Ben Ali Akbar.
Zogsucker-good one.
Yea not for long, been saying that since '49 to no avail, all hat no cattle.
Shouldn't you be off stoning some women somewhere or maybe killing some gays?
Speaking of gays...
Tel Aviv voted BEST GAY CITY in the WORLD!
http://www.prothink.org/
See my comment up thread.
Exactly what does FB have to do with internet gambling? I mean, people who want to gamble couldn't possibly put forth the effort to type another domain name or, heaven forbid, click on a link to get to a competitor?
Idiot.
Regards,
Cooter
Have no clue whatsoever.
Not of the size of the market of the competitors that you keep citing that largely don't exist,
and I get it, want to desperately be part of the herd.
The herd is wrong a whole lot more than it is right around here.
From buy silver through the top, Linkln was another crap internet IPO only up 75% to Fukashima is the end of the world as we know it and too many others to count.
Fade machine.
Imbecile.
Something better than the Mayan End of the world prediction: Facebook IPO as market top!
I'm with you. Poetic irony. Pop and drop.
Revenue up 185% (2 Bil to 3.7 Bil) and expenses up 208% (1.3 Bil to 2.7 Bil) better go public quick
Expenses - I'm curious about that, have they revealed any figures at all? They must be huge.
'2.7 million 'likes' and 'hugs' per day'....WOW sign me up for $300 a share then!
If they can get Government Motors to pay them 10 cents for each 'like' they'll be golden in no time.
I'll put you on the timeline!!
@Sheep: ti's what I like to call "monetizing chit-chat". That's the biz model.
Our economy: people who produce goods or services are taxed. Those who chit-chat get paid
The best thing FB could do would be to offer the initial to all their own users. No congress critters, just the members. Ha.
What this shit is producing? Info for CIA?
All your "likes" are belong to us.
They generate revenue by selling your info to other people and monetizing YOUR content.
When a black man does that, it's called "identity theft".
Go figure.
You don't wanna be my friend? I'LL KILL YOU!!!!!!!!! WHAAAAAAAAAAAAA!!!!!
Knife Party - Internet Friends
http://www.youtube.com/watch?v=gcejLp72iCE
My best friend does the FB regularly. He gets introduced to people as "this is Michael, he's vulgar and abrasive" by his own MOTHER. So, apparently, he gets "un-friended" frequently and, funnier still, this upsets him. Every time he brings this up I cry laughing.
The real value of Facebook and Google is their data, especially given their new privacy policies. They offer the governement data mining access, and the government gives them competitive protection - ala Buffet.
They could start sending out "you won a lottery" and "nigerian prince needs help" to cash on their users.
Oh boy back up the truck pa'...
We gon be rich.....
Fuckin Facebook...knock that shit off please and say hello to my shiny Silver Eagles....bitchez