Tuesday, January 4, 2011

In 2011, Be Smart

And here's how to start. Read this editorial about Facebook:

http://finance.fortune.cnn.com/2011/01/04/five-reasons-why-im-not-buying-facebook/

I haven't seen this level of irrational exuberance since I was Pets.com.

Here's the best part:

Facebook reached 500 million users in July. There's been no update since, even though the company had meticulously documented every new 50 million users to that point. Might the curve have crested? And let's not even talk about the fact that they don't really make much money per user — a few dollars a year at most. (Its estimated $2 billion in 2010 revenues would amount to $4 per user at that base.) I certainly haven't spent any money on the site, despite being a fairly regular visitor. And any advertiser who is trying to target me on the social network is wasting their money. But that's just me.

Nope, that's a lot of us...

8 comments:

Jacarl said...

I concur. I can't see how purchasing stock in FB would be a winner. And I'm sure NewsCorp is kicking itself for buying the new Friendster.

But then again, I didn't think Google going over $600/share was a possibility when I could've bought in at its $100/share initial offering.

FML.

So now I'm trying to make money playing the Riverboat Gambler role.

Bank of Ireland better hit $10 a share.

jonathan said...

Any chance you're gonna release your best of 2010 list?

Jacarl said...

@jonathan

I got thrown for a loop over the last week due to a computer problem.

I'll get on my horse ASAP.

Diallo said...

@jonathan

i spent the holidays babysittin' and DJin'. And since being back at the show, I have produced the Gwyneth Paltrow piece on Monday's show and the Sebastian Bach piece in Wednesday's show.

So if anyone cares for a late-submitted Best of 2010 from me, I'll do it. But I figured the ship had sailed.

jonathan said...

@Jacarl and Diallo
Well you have at least one loyal reader interested, but completely understandable if not. What can I say?

Got to go...off to do something important for someone famous ;)

Thought => In => Motion said...

Two thoughts...do the best of 2010. It must be done.

Second, the Facebook thing is a tough call. They have their hooks in people in a degree that Google wishes they did.

Thomas said...

Just think about how much they could charge if they started advertising.

500 million? Twitter and Facebook are the ultimate hustle.

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