Yeah, I know that title seems over the top, but I do wonder.
Some say facebook is worth $126 billion, and the consensus is it’s worth roughly that much. Maybe more. We’ll find out when it goes public.
But let’s remember, what it brings on its initial public offering is not the true value. That will be its perceived value, and we all know we consumers are pretty stupid blokes most of the time.
Having said this though, I don’t personally think facebook is worth one-half what it was worth last year. The new timeline stinks. And I don’t know what they’re doing with their algorithms, but I’m regularly not getting info about people I’ve even asked to subscribe to.
It’s gotten so bad that I’ve quit logging in near as much. And when I post things, I rarely get feedback from friends like I used to. Either they’re not seeing it — see my algorithm point above — or they’re not getting on facebook anymore either.
Bottom line, it’ll take at least five years. Maybe ten, but I’m telling you facebook is heading down, no different than myspace.
Facebook took a great product that was clean and hip and exclusive to cool college kids (who could post crazy photos and tell even crazier stories) and they whored themselves out to the entire public. Now there are parents and grandparents (not to mention employers) watching your every move, and the political messages from both sides have only made the place more miserable.
Me, buy a share of facebook? I don’t think so.
What do you think? I’d love to hear your thoughts, either in support or opposition of my main point. Am I crazy on this one?
Stan R. Mitchell
Oak Ridge, Tenn.
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