Facebook’s first investor just sold most — if not all — of his stock. (Article link.) As everyone knows, you don’t sell your stock if you think it can go up and you can make more.
The company’s stock continues to plummet and some are calling for the head of the company (28-year-old Mark Zuckerberg) to step down as CEO.
Some of us saw this coming, before the company even went public: Facebook is going down, and fast.
My views remain the same as they did in early May when I wrote the above post. It may take five years (or even ten) but Facebook is going down like myspace did. (Yeah, I bet you’d forgotten that company.)
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.
They’ve forced things down your throat like their Timeline feature, and more changes are on the way as they find still more ways to sell ads and monetize the site. We’ll all increasingly hate the place and migrate elsewhere.
Stan R. Mitchell
Oak Ridge, Tenn.
P.S. Please accept the greatest gift I can give.
P.P.S. Thanks to all who continue to make my novel Little Man, and the Dixon County War a huge success! It’s gone as high as No. 16 on the Amazon UK Paid List (see here and here), landing smack dab between a Louis L’Amour and Zane Grey book. And don’t forget to check out my newest novel (Sold Out). It’s already gone as high as No. 81 on the Amazon Paid List for the category of War (see here and here). Learn more about both books here.