Linked by Howard Fosdick on Wed 5th Sep 2012 05:24 UTC
In the News Remember the dot com debacle of a decade ago? Well, it's back, this time in the form of Facebook. Since its high-profile public offering last May at over $38/share, FB is now down to about $18/share. Management is finding that running a public company is very different than one privately held, as people variously blame Mark Zuckerberg (or not), CFO David Ebersman, lead IPO underwriter Morgan Stanley, and even the NASDAQ stock exchange. The real problem, of course, is that Facebook went public even as its business model desperately searches for new revenues. Let's just hope they don't pull a Digg and fatally redesign the whole site in response.
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Facebook
by hackus on Wed 5th Sep 2012 22:16 UTC
hackus
Member since:
2006-06-28

Don't you worry your little heads about Facebook. I guarantee it won't be going anywhere. It never was capitalized on the premise it would make a profit. It was capitalized and runs wholly as a subsidiary of the intelligence community. If Facebook does go away there will be a reason and that reason will be that it has become obsolete.

Profit is its last concern.

-Hack

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