At 10am est, the general public will be allowed to buy Facebook shares, making a bunch of people very, very rich, at least temporarily before the latest tech bubble bursts. The days of Old Economy Stephen this is not.
I suppose I should probably go on record here with a prediction: Facebook will fail in an epic way and we’ll all look back and laugh at this one day when Mark Zuckerberg is the new Myspace Tom. Of course, I’m hardly the only one who thinks this will happen, and the reasons I feel this way are numerous and frankly I’m too brain dead today to lay them all out (mainly it’s born out of my belief that a business that’s so widely hated simply cannot be sustained), but I wanted to get it out there. Needless to say, I won’t be buying any Facebook stock.
With that said, the soon-to-be-filthy-rich like shady citizenship renouncer Eduardo Saverin are already congratulating themselves and their soon-to-be-filthy-rich cohorts, on Facebook naturally.
On the eve of the Facebook public float, 8 plus year in the making, I as co-founder wanted to look back and cherish Facebook’s early beginning. Congrats to everyone involved in the project from day one till today, and I especially wanted to congratulate Mark Zukerberg on keeping tremendous stead-fast focus, however hard that was, on making the world a more open and connected place.
To further mark the occasion, Saverin posted a screenshot of Facebook in its infancy stage.
This bubble has to burst. Let’s just hope too many people don’t get burned when it all goes down in flames.
(GIF via Chris Mohney. Pic via Business Insider)
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I spend FAR more time on Twitter than I do on Facebook, and it’s been that way for awhile now. There comes a point when you realize how dumb and boring most of your friends, family and acquaintances are, as compared to your twitter feed. Simply put: boobies > babies.
You’re making a widely ridiculous assumption. I can go into a number of reasons as to why Facebook isn’t going anywhere anytime soon and how different it is from MySpace. MySpace was a fad, a website. Facebook is a corporation. You may think a lot hate it but compare it to how many love it and the ridiculous amount of registered users. I do not and will never have a Facebook but trust me, it’s not going anywhere. Not to mention the untapped global market that Facebook still hasn’t pursued. FINALLY, you won’t be able to even buy one share with your blogging salary. So no point in telling us you won’t. We know you won’t. You might be able to afford them in the secondary market, maybe. Sell a few of your things.
Good call dude. That stock is f*cking soaring. Morgan Stanley did a fantastic job making sure their underwritten IPO didn’t drop below the offering price. Could buy some (still overpriced) shares by hitting the blood bank tomorrow.
This company is a turd. It doesn’t have a viable plan for revenue expansion and it’s repeatedly revised S-1′s are already trending down.
BUY BUY BUY
Um, you’re underestimating my prolific blood plasma donating skillz, misinformed asshole 1% bro.
BTW, nice AOL email address. You’re a goddamn trolling stereotype.
I think you’re just a little butthurt because at most, you make just as much as the person that gives me my coffee every morning. You got 6 comments on this article, two of which are yours. I bet your parents are proud.