My congratulations to Facebook
For persuading people that their shares were worth 100 times their income, at $38/share. An amazing job, that made them a huge wodge of money. It shouldn't matter to them at all that the price has since dropped by nearly half of that to $22 - they made their money, and I'm sure they're very happy with it.
I have no idea why people were willing to pay that much for shares in a company that could not grow its user base by more than seven times without running out of human beings, can't monetise those users more than a tiny amount without driving them away, and has growth that's been halving every year since 2009. But that's investors for you.
Original post on Dreamwidth - there are
comments there.
I have no idea why people were willing to pay that much for shares in a company that could not grow its user base by more than seven times without running out of human beings, can't monetise those users more than a tiny amount without driving them away, and has growth that's been halving every year since 2009. But that's investors for you.
Original post on Dreamwidth - there are
comments there.