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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Member since:

Facebook is making big profits and big revenues.

Completely incorrect. Facebook has very low revenues (<$6Billion) and operates at a loss. As a business it is a complete and utter failure.

Reply Parent Score: 4

Alfman Member since:

On the one hand, it's encouraging to see normal developers at the top of the company instead of regular businessmen, but on the other hand...I wish Zuckerberg could be a better leader and get his cards in order.

From all the interviews I've ever seen, Mark Zuckerberg is a competent developer, but he has no idea how to run a profitable company. He hit it big time, but it looks like he was exceptionally lucky rather than exceptionally skilled. He has tons of opportunities with his company's wealth and connections, but I don't think he actually knows where he is going to go from here. My guess is that he's just going to continue with existing momentum, which is fine for him, but probably not good for stock market investors.

Reply Parent Score: 2