All the hype in the world can't hide a failure. Friday, after months of pre-release stories on the Facebook IPO, it came out at $38 & at closing was at $38.23. Not exactly a major success. Now comes Monday morning & the stock tumbles even more. Ooops!
Within the first hour & a half, it fell to $33. The loss equaled Mark Zuckerberg's wealth. Think his new wife is having second thoughts?
This is supposedly one of the biggest, richest companies in the world. Despite the fact that it doesn't produce anything. Yeah, it makes money from advertising. And it has all your information. Which is, of course, the reason I deleted my account. I am now on NO social media. Not Facebook, not Twitter, not Google +.
This is a warning to other sites of this kind. Don't try to get rich off of your users. It doesn't work that way. Within five years Facebook will be forgotten, like My Space & the ones before that. Remember Geo Cities?
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