Friday, June 1, 2012

FACEBOOK DUMMIES -- $ 100 billion valuation? You must be kidding ! Gimme a break !

I am a Facebook user. I use social media. And I enjoy reading blogs, good or bad. Bring 'em on. I am like a sponge which likes to absorb anything -- good news, bad news, junk news. That said, to this day, I still don't understand how a social media website, based on getting kids and adults to post their blogs, photos, trivia, articles, and musings, with supposedly 900 million members around the world, can be valuated at US$ 100 billion. I don't understand it at all. Maybe young 29-year old Zukkie does. How can a website which has 900 million users, which depend on ads online which nobody reads, be valued at $ 100 billion? As this article, linked below, explains why..... the underwriters, Morgan Stanley and all of these "insiders" from FB, took us dummies for a dummy ride. America is great. We have the best salesmen from Wall Street. But I am not sure we can build widgets, and the real McCoys anymore. It is all hype, jive, and con in America today. And it starts with our President Obama. http://www.nationofchange.org/dumb-money-dummies-1338567079